Vancouver, B.C. – December 15, 2017 - Highbank Resources Ltd. (TSX.V –"HBK"), (the "Company").
Highbank Resources Ltd., CEO/President, Jim Place is pleased to announce that a bulk sample of approximately 750 tonnes of bank run aggregate (pit-run) and quarried stone from Swamp Point North has been delivered to the Port of Prince Rupert. The material will be stored on land leased by the Company where it will undergo processing and product testing.
Processing of the pit run will consist of crushing, screening, and washing to produce coarse (gravel) and fine (sand) concrete aggregates. Aggregate evaluation will be carried out by a certified concrete aggregate testing laboratory. The quarried stone will undergo visual and laboratory testing to evaluate its suitability as rip rap, armour stone, and rail ballast.
Highbank is anticipating increased construction activity in the Prince Rupert area in the near future and feels optimistic that local contractors will see Swamp Point North as an economic alternative for construction and concrete raw materials. The Swamp Point North property is located on Portland Canal, approximately 75 miles (120 kilometers) north of Prince Rupert and has direct access from the pit face and stockpile site to a marine shipping facility owned by Highbank Resources Ltd.
In the News:
Eagle Spirit Energy’s $16B Alberta-B.C. pipeline gets backing of First Nations chiefs – www.ese-gathering.com
The pipeline plan obtained its ‘licence ‘as B.C. First Nations chiefs signed on to the project. Major Canadian oil producers including Suncor Energy., Cenovus Energy Inc. and Meg Energy Corp. are supporting its go ahead, while investment broker AltaCorp Capital Inc. has been lined up to organize financing. The pipeline’s right of way would be on an energy corridor that would be pre-approved by First Nations to also house gas pipelines, hydro lines and fiber optic cable. Eagle Spirit is also backed by the Aquiline Group of Vancouver, which owns the Vancouver Canucks NHL franchise and other major development projects.
Oilsand’s giant Suncor, the Fort McKay First Nation and the Mikisew Cree First Nation, both in Alberta, also announced the completion of a 49 percent partnership in Suncor’s East Tank Farm Development for $503 million. "The deal represents the largest business investment to date by a First Nation entity in Canada, and not only demonstrates the great potential for partnerships between First Nations and industry but serves as a model for how First Nations can achieve greater self-determination through financial independence," said Fort McKay chief Jim Boucher.
The pipeline route is planned to land on the B.C. coast in the Prince Rupert area, and puts Highbank’s Swamp Point North project as the closest major coastal aggregate supplier.
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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