SOURCE: Highbank Resources Ltd.

Highbank Resources Ltd.

May 05, 2016 20:24 ET

Highbank Updates on Pacific NorthWest LNG and Related Projects

VANCOUVER, BC--(Marketwired - May 05, 2016) - Highbank Resources Ltd. (TSX VENTURE: HBK) (FRANKFURT: V7O) (the "Company") is pleased to report on some of the latest northwest B.C., LNG, and related project news.

In the News:

  • Strong First Nations support for pipeline projects for LNG - April 27, 2016 http://ow.ly/4ntlmV

Victoria - Support for the liquefied natural gas industry is growing among First Nations in northern B.C. To date, the Province has signed a total of 62 pipeline benefits agreements with 29 of 32 eligible First Nations that are located along four proposed natural gas pipeline projects: Pacific Trail Pipeline, Coastal GasLink Pipeline Project, Prince Rupert Gas Transmission Project, and the Westcoast Connector Gas Transmission Project.

  • Petronas Canada LNG project chief sees investment decision in months - April 29, 2016 by Julie Gordon, Calgary, Alberta (Reuters) http://ow.ly/4ntlvt

Petronas and its partners hope to make a final decision within months on whether to build what could be Canada's first LNG export project.

"Depending on the timing of the CEAA (Canadian Environmental Assessment Agency) decision, we would hope that by late summer or early fall we would be in a position to follow up on (a final investment decision)," Michael Culbert, president of Pacific Northwest LNG, said in a phone interview.

  • First National support for Pacific NorthWest LNG growing - April 29, 2016 by Gordon Hoekstra, Vancouver Sun http://ow.ly/4ntlHu

The aboriginal support is instrumental for the project as it awaits a final decision from the CEAA and, ultimately, Prime Minister Justin Trudeau's federal government.

  • 1,000-man pipeline camp for Pacific NorthWest LNG approved - April 29, 2016 - Dawson Creek Mirror http://ow.ly/4ntlU5

The 900-kilometre Prince Rupert Gas Transmission would begin in Hudson's Hope and deliver gas to the proposed Pacific NorthWest LNG project in Prince Rupert. A pipeline worker camp that at its peak would house 1,000 workers has the go-ahead from the Peace River Regional District.

The camp, which would be built near Chetwynd in the Pine Pass, would serve as home base for workers building part of TransCanada's 900-kilometre Prince Rupert Gas Transmission project. The camp would be the largest of nine proposed along the pipeline route, ranging in size from 150 to 1000 people.

  • Pacific NorthWest hopes B.C. LNG project in final stage before approval - May 2, 2016 - by Brent Jang - The Globe and Mail http://ow.ly/4ntmxL

Pacific NorthWest LNG will submit new reports to the CEEA by mid-May in an effort to address lingering concerns about its plans to export LNG.

The consortium is seeking to push the project across the finish line after a series of delays that arose mostly because of requests from the agency for greater detail. The upcoming filings are significant because they are seen as the final chapters to Pacific NorthWest LNG's submissions aimed at winning regulatory approval.

  • Work on pipeline through Nisga'a territory could begin as early as this fall says TransCanada VP - May 4, 2016 - Canada's First Nations Radio (CFNR) Network http://ow.ly/4ntmX8

Early work for the pipeline serving the Pacific NorthWest LNG terminal could start as early as this fall if the proposal gets the green light.

The Nisga'a Nation received a project update from the vice president of TransCanada's Prince Rupert Gas Transmission project Tuesday.

John Dunn told the Nisga'a Special Assembly that line clearing court start in summer, 2017 with jobs and associated opportunities providing benefits to the Nisga'a for 4-5 years. For now, he says contractors are continuing to perform geotechnical work for the pipeline which would carry gas across nearly 100 km of Nisga'a territory on its route to Prince Rupert.

TransCanada Corporation said on Thursday it has received the last two of ten pipeline and facilities permits required from the BC Oil and Gas Commission for the Coastal GasLink pipeline project.

The project now has approval for construction and operation of the proposed pipeline and related facilities, according to TransCanada. "This is a significant regulatory milestone for our project, which is a key component of TransCanada's growth plan that includes more than $13 billion in proposed natural gas pipeline projects which support the emerging liquefied natural gas industry on the British Columbia Coast," said Russ Girling, TransCanada's president and chief executive officer.

ON BEHALF OF THE BOARD OF DIRECTORS OF HIGHBANK RESOURCES LTD.

James H. Place,
CEO/President

This News Release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Forward-looking statements are projections of events, revenues, income, future economic performance or management's plan and objective for future operations and include, without limitation, statements with respect to the anticipated production from the Swamp Point North Aggregate Project , the realization of mineral estimates, success of mining operations, the timing and amount of estimated future production, title disputes or claims, environmental risks, limitations on insurance coverage, current and anticipated purchase negotiations and arrangements, requirements for additional capital; and government regulation of mining operations. In some cases, you can identify forward -looking statements by the use of terminology such as "may", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of these terms or other comparable terminology. By their very nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors, including: fluctuations in worldwide prices and demand for aggregates; changes in project parameters as plans continue to be refined; possible variations in grade and or recovery rates; accidents, labour disputes as well as those factors detailed from time to time in the Company's interim and annual financial statements and management's discussion and analysis of those statements, are filed and available for review on SEDAR at www.sedar.com.

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