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Highbank – Arranging $300,000 Private Placement

Press Release

Vancouver, B.C. – July 05, 2022 – Highbank Resources Ltd. (the “Company”) (TSX.V –“HBK”) announces that it has arranged a private placement financing (the “Financing”) of $300,000 through the issuance of 6,000,000 Units (the “Units”) at $0.05. Each Unit will consist of one common share of the Company and one-half transferable warrant exercisable at $0.075 in the first year and $0.10 in the second year.

The Company intends to use the proceeds of the Financing for working capital. The Company intends to pay finder fees of up to 8% cash and 8% warrants, subject to compliance with applicable securities legislation and TSX.V policies.

The securities to be issued will be subject to a four-month and one day hold period from closing. The terms of the Financing are subject to customary closing conditions including, but not limited to, receipt of applicable regulatory approvals, including final approval of the TSX.V.

About Highbank Resources Ltd.

Highbank Resources Ltd. is engaged in the business of acquiring and developing mineral projects located in North America.

    • The Company owns 100% interest in a fully commissioned sand and gravel quarry, more commonly known as the ‘Swamp Point North’ project, approximately 115 km (72 miles) north of the Port of Prince Rupert and 50 km south of the Port of Stewart situated along Portland Canal in northwestern British Columbia. The project has an NI 43-101 compliant, measured and indicated 71,712,043 tonne construction aggregate resource. May 2015 Preliminary Economic Assessment valued the asset at $$24.3M with 8% discount to projected cash flows.
  • The Company recently signed an Option Assignment Agreement to acquire an 80% interest in the Terra Nova Property consisting of 71 claims located 30 km northwest of Port Blandford in central Newfoundland. The project has the potential to host mesothermal gold-polymetallic (Au, Ag, Cu and W) deposits. The property lies within the Gander Zone, which is an area of significant exploration interest.


“Gary Musil”

Gary Musil, CFO/Director

Highbank Resources Ltd.


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