SOURCE: Highbank Resources Ltd.

Highbank Resources Ltd.

October 06, 2014 05:00 ET

Highbank- Swamp Point North Site and Load-Out Update

VANCOUVER, BC--(Marketwired - October 06, 2014) - Highbank Resources Ltd. (the "Company") (TSX VENTURE: HBK) (FRANKFURT: V70).

President, Victor N. Bryant is pleased to announce:

Swamp Point North Barge loading Facility...

The piling work for the load-out conveyor system is now complete. A total of 24 pilings have been installed with excellent penetration in compacted gravel to average depths of 55 - 65 feet. All pile caps of one inch thick steel have been installed to hold each set of pilings together. The work was completed several days ahead of schedule. Driving of only one piling caused some difficulty when a large boulder was encountered. The piling was re-located and driven without further difficulty.

The Foresight Innovations Ltd. construction crew is now assisting with assembly of the prefabricated conveyor sections and installation on the pilings. Walkways connecting the mooring dolphins will be installed later this week and the conveyor belt and drive installed. A concrete base is being constructed at the feed end of the conveyor to support the aggregate receiving hopper for the load-out system.

Camp and Mine Site Development...

In the mine site area, stripping of the sand/silt layer immediately above the gravel deposit is progressing. Heavy rainfall has slowed this activity; however, this has not prevented flat areas for location of the crushing, washing and screening equipment from being prepared. Weather permitting; Highbank continues to work toward having aggregate ready for shipment in late October/early November 2014. Watch for photo updates and an updated power point presentation on our website at http://www.highbankresources.com

LNG taxation...

Mr. Bryant further comments. As per our September 30, 2014 news release we stated, "The British Columbia Government will conclude negotiations and set forward a fair Liquefied Natural Gas ('LNG') tax regime". As reported in the Vancouver Sun on Thursday, October 2, 2014 titled 'Province signals reductions in planned LNG project taxes'. The governing Liberals return to the legislature on Monday and will table the final tax legislation in the week of October 20, 2014, said Finance Minister Mike de Jong. "These are sizable investments with a lot at stake for the citizens of B.C., and the proponents and we want to get it right," de Jong said. To learn more on this Vancouver Sun article "Province signals reductions in planned LNG project taxes" click on http://urlm.in/tahq

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

"Victor N. Bryant"
Victor N. Bryant,
CEO/ President

This News Release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.

Neither the 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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