Highbank Resources Ltd.

Highbank Resources Ltd.

August 17, 2011 08:00 ET

Highbank Resources Ltd.: Highland Valley Property Drilling Permits Received

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 17, 2011) - Highbank Resources Ltd. (TSX VENTURE:HBK)(FRANKFURT:V7O) (the "Company") is pleased to announce that it is in receipt from the British Columbia Ministry of Energy and Mines the Mines Act Permit authorizing exploration activities as detailed in the Notice of Work Program. The program outlines the drilling of 2000 meters in the Chataway Creek and Zone areas located in the northwest corners of its large property covering over 24,000 acres in the world class Highland Valley copper ("HVC") porphyry district, Kamloops Mining Division of British Columbia. Over 1.8 billion tonnes of resources in five deposits have been discovered in the Highland Valley district to date.

The Company has an option to acquire a 50% interest in the Highland Valley property from Moag Copper Gold Resources Inc. The Property covering an area over 36 square miles is located 7 kilometers southeast of the Highmont pit, part of Teck's Highland Valley Copper, Canada's largest operating base metal mine and 4 kilometers north of high grade copper producer Craigmont Mines.

The nine hole drilling program is designed to test:

  1. MMI survey and Induced Polarization/Resistivity Survey ("IP") anomalies discovered in the Chataway Lake area;
  2. Confirm previous publicized drill results in the area; and
  3. Check for continuing mineralization from Happy Creek Minerals Ltd. recently discovered Zone 1 on our western boundary and Zone 2 on our north western boundary (see Happy Creek Minerals Ltd. news release dated March 30, 2011).

Drill locations and further details of the property can be reviewed in the report entitled 'Geological Report on the Highland Valley Property' by William R. Bergey, P.Eng., Consulting Geologist dated September 25, 2009 and filed on SEDAR and the Company's website at www.HighbankResources.com.

Anomalous MMI geochemical results were obtained over a wide zone of intersecting faults that follows Chataway Creek. An MMI anomaly area was also detected over the Chataway Zone south of Chataway Lake where a historical resource of approximately 500,000 tonnes grading 1.58% copper was reported. The resource estimate was based on rather sparse diamond drilling and it is non-compliant under NI 43-101.

This news release has been reviewed and approved by Mr. William R. Bergey, the qualified person under NI 43-101.

On behalf of the Board of Directors of HIGHBANK RESOURCES LTD.

Bradley L. Jones , c.a., Director

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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