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Highbank Announces Results of Annual General Meeting

Press Release

Vancouver, B.C. – July 11, 2022 – Highbank Resources Ltd. (TSX.V – “HBK”), (the “Company”).

Annual General Meeting (“AGM”) Results

The AGM of Highbank Resources Ltd. was held July 8, 2022 in the boardroom of our new office location at #615 – 800 West Pender Street, Vancouver, B.C. At the meeting shareholders re-elected Gary Musil, and William J. Loucks, newly appointed Thomas Q. O’Connor (appointed May 3, 2022), and new nominee Mark Luchinski for the upcoming year. The scrutineer reported that there was a total of 13 shareholders holding 19,990,138 common shares represented in person or by proxy at the meeting. This represents 14.27% of the total 140,106,621 shares issued and outstanding at record date.

The results of the Election of Directors were:

Nominee Votes for Percent Votes Withheld Percent
Gary Musil 19,926,638 99.69% 61,500 0.31%
William J. Loucks 19,990,138 100.00% 0 0.00 %
Thomas Q. O’Connor 19,840,138 99.25% 150,000 0.75 %
Mark Luchinski 19,840,138 99.25% 150,000 0.75%

Shareholders approved, subject to acceptance by the TSX Venture Exchange, the Company’s Incentive Stock Option Plan (97.67% in favour). Shareholders also approved the re-appointment of Crowe MacKay LLP, Chartered Accountants as auditors for the ensuing year, and authorized the Directors to fix their remuneration (100% in favour).

Other resolutions submitted by management to shareholders for consideration were approved as presented; including the ratifying of the Company’s Advance Notice Policy (“ANP”) as attached to the Information Circular as Schedule “C”. In order for the ANP to remain in effect, the ANP must be ratified, confirmed and approved at each subsequent Annual General Meeting (98.82% in favour). Also to ratify was the resolution approving the repricing of the stock options (Post-Consolidated 425,000 at a post-consolidated price of $0.50) to $0.05, as described in the Information Circular (97.37% in favour), subject to the approval of the TSX Venture Exchange.

At the Directors Meeting following; the Directors appointed Gary Musil as President/Chief Executive Officer & Chairman, and Mark Luchinski as Corporate Secretary/Chief Financial Officer. The Audit Committee appointees are: Gary Musil, William (Bill) J. Loucks, and Thomas O’Connor.

The Board of Directors would like give a special Thank You to James (Jim) H. Place who did not stand for re-election; for his 9+ years as a Director, Audit Committee Member, Advisor, and support to Highbank. Jim will join the Advisory Board and continue to support and advise the Company as needed. Jim has more than 25 years of experience in the aggregate, engineering, exploration and development fields; as well as holding management, and directorship positions with public and private companies; and positions with government and various consulting companies. We wish him well in his future endeavors.

Mark Luchinski – New Director

The Company welcomes Mark Luchinski to the Board. Mark has over 20 years of capital market experience, having worked in both public and private sectors as an Officer and Director on several companies. Mr. Luchinski is a graduate from the University of Victoria. He is well versed in corporate governance, finance, compliance, and the administration of publicly traded companies.

The Board of Directors would also like to thank the Company’s shareholders for their continued support throughout the past year.

ON BEHALF OF THE BOARD OF DIRECTORS OF HIGHBANK RESOURCES LTD

“Gary Musil”

Gary Musil,

CEO/Director

IBF4

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