Vancouver, B.C. – May 17, 2016 - Highbank Resources Ltd. (TSX.V –"HBK"), (the "Company"), is pleased to announce that it has entered into Non-Disclosure Agreements (NDA’s) with a joint venture group made up of a First Nation organization and a diversified Canadian construction company (the "other participants"); with regards to an operations and distribution (processing, shipping, and sales) project. The proposed project would see aggregates from the Swamp Point North (SPN) property being supplied to various sites and projects in Western North America involving shipments from the property through the Port of Prince Rupert.
Approval for the provision of capital for construction of production facilities at the storage, trans-shipping, and processing sites is being secured by the other participants.
Marketing of products is proposed to be carried out by one or both of the joint venture participants, with technical consultation provided by Highbank.
It is uncertain at this stage whether the other participants involved in the project will take an ownership role in the SPN property or in Highbank Resources Ltd.
Further details of the project will be announced once Highbank’s Board of Directors receives a formal proposal.
ON BEHALF OF THE BOARD OF DIRECTORS OF HIGHBANK RESOURCES LTD.
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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