VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/27/13 -- Highbank Resources Ltd. (TSX VENTURE: HBK), (the "Company") is pleased to report on the progress of its resubmission of documentation for its Notice of Work Permit for the Swamp Point North, Portland Canal Aggregates project.
Highbank reports that marine load-out recommendations have been received for two potential locations. A decision will be made regarding which location will be used depending on the revised mine plan. The Company is also in the process of commissioning Kleanza Consulting Ltd., from Terrace, B.C. to conduct a Preliminary Field Reconnaissance ("PFR"). This work is required to determine if an Archaeological Impact Assessment or future mitigation work will be required on the proposed mine site. The revised mine and management plan has unfortunately been delayed as a result of extensive flooding that occurred in Calgary, to the offices of DMT Geosciences Ltd. (formerly Associated GeoSciences).
To further assess and establish contacts, director James H. Place, P.Geo. is currently touring the Ridley Island site (Port of Prince Rupert) and the surrounding area. If time permits he will also visit the Ministry of Energy, Mines and Natural Gas ("MEM") offices in Smithers to meet with the officers involved in the permit application. In addition Mr. Place will carry out an inspection of the core storage facilities in Terrace to ensure it is available for a due diligence review, should it be required by an interested third party.
In summary, Highbank is moving steadily toward meeting the latest MEM department requirements. Given the high level of importance the Premier of B.C. is placing on the development of, not only LNG, but mining development generally in the northwest, Highbank is extremely optimistic that the future of the Company is well assured. See the most recent 'Vancouver Sun' - June 26th article written by B.C. Premier Christy Clark, stating her Government's 100% support for resource development to the extent that a new Ministry of Natural Gas Development has been created that will be focused on delivering the benefits of this new sector.
In addition the Financial Post reports 'Exxon joins West Coast LNG race, seeks 25-year export permit'. The world's largest energy company is seeking approval from Canada's National Energy Board to export up to 30 million tonnes annually of liquefied natural gas, or four billion cubic feet a day, over 25 years from a proposed terminal on Crown land at Grassy Point, north of Prince Rupert and within 40 miles of Highbanks' Swamp Point North, Portland Canal aggregate project. See: http://business.financialpost.com/2013/06/20/exxon-seeks-25-year-licence-to-export-lng-from-b-c/?__lsa=019c-bf19
On behalf of the Board of Directors of HIGHBANK RESOURCES LTD.
Victor N. Bryant, CFO/Director
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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Highbank Resources Ltd.
Victor N. Bryant
(604) 683-1350 (FAX)
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