Vancouver, B.C. – September 27, 2016 - Highbank Resources Ltd. (TSX.V –"HBK"), (the "Company").
Highbank President, Jim Place reports:
"Highbank’s fortunes have changed for the better." "Optimism in the Resource sector has returned to Western Canada with the announcement of Federal approval for Petronas and its partners Pacific NorthWest LNG project". Highbank looks forward to working with Petronas’s engineers and the construction companies; to provide aggregates and stone products for pipelines, infrastructure, and plant construction works.
In the News:
Federal Liberals approve Petronas LNG project in B.C. –Financial Post - September 27, 2016 by Natalie Obiko Pearson and Josh Wingrove - Bloomberg News http://ow.ly/m7wn304DaI7
Prime Minister Justin Trudeau’s government has approved Petroliam Nasional Bhd’s $36 billion Pacific NorthWest liquefied natural gas project on British Columbia’s Pacific coast.
Environment Minister Catherine McKenna, Natural Resources Minister Jim Carr and Fisheries Minister Dominic LeBlanc made the announcement near Vancouver late Tuesday. It was Prime Minister Justin Trudeau’s first decision on a major energy project after a pro-environment campaign swept him to power last year.
The project is "an important opportunity to grow our economy and shows how we are rebuilding Canadians’ trust in our environmental assessment process," McKenna said.
Liberals approve Pacific NorthWest LNG project despite environmental concerns – September 27, 2016 by Brent Jang and Shawn McCarthy – The Globe and Mail http://ow.ly/5Vow304DanL
Ottawa’s decision to give the go-ahead to Pacific NorthWest LNG raises industry hopes for an LNG bonanza……..
The federal government’s decision is subject to the project’s owners meeting an array of conditions designed to reduce the project’s environmental footprint.
Prime Minister Justin Trudeau and his cabinet, which met on Tuesday morning in Ottawa, had until October 3rd to render a decision in what has been a lengthy regulatory process dating back to 2013.
"The decision to proceed to the construction phase of the project rests with Pacific NorthWest LNG’s shareholders," Spencer Sproule, the project’s senior adviser of corporate affairs, said prior to the announcement in Richmond.
"We believe strongly that now that its approved, the Prime Minister needs to champion the project," Conservative interim leader Rona Ambrose said, "He needs to make this project important, not only for British Columbians, but for all Canadians. This is a project that will create thousands of jobs, create billions of dollars in investments and it is a project that’s absolutely necessary for the prosperity of this country."
ON BEHALF OF THE BOARD OF DIRECTORS OF HIGHBANK RESOURCES LTD
"James H. Place"
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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