Highview Resources Ltd.

Highview Resources Ltd.

March 29, 2005 10:59 ET

Highview Announces Planned $4.5 Million Financing


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: HIGHVIEW RESOURCES LTD.

TSX VENTURE SYMBOL: HVW

MARCH 29, 2005 - 10:59 ET

Highview Announces Planned $4.5 Million Financing

CALGARY, ALBERTA--(CCNMatthews - March 29, 2005) - Highview Resources
Ltd. (TSX VENTURE:HVW) announced today that it plans to raise up to $4.5
million by way of a private placement financing, on a brokered basis.

On March 28, 2005, Highview entered into an engagement agreement with
Jennings Capital Inc. to act as agent in the issue of up to 10,714,286
common shares at $0.28 per share and 4,545,455 common shares on a
flow-through basis at $0.33 per share. The financing will result in
gross proceeds to Highview of up to $4.5 million.

The issue is subject to normal regulatory approvals, and is expected to
close on or about April 30, 2005. The net proceeds from the financing
will be used to finance the continuing exploration and development
activities of the Company.

Highview trades on the TSX Venture Exchange under the symbol "HVW".
Highview is a junior oil and gas company focused on the acquisition,
exploration, exploitation and development of oil and natural gas in
western Canada. Highview's business plan is to grow reserves and
production to increase shareholder value through a focused exploration
program, strategic acquisitions and controlled exploitation.

Forward-looking statements - statements included in this press release
that are not historical facts may be considered "forward-looking
statements." All estimates and statements that describe the Company's
objectives, goals or future plans are forward-looking statements.
Forward-looking statements involve inherent risks and uncertainties
where actual results could differ materially from those currently
anticipated.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Highview Resources Ltd.
    John H. Cassels
    President & CEO
    (403) 261-9978
    (403) 261-4072 (FAX)
    or
    Highview Resources Ltd.
    Robert W. Lamond
    Chairman
    (403) 269-9889
    (403) 269-9890 (FAX)
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.