VANCOUVER, BC–(Marketwired – May 04, 2015) – Highbank Resources Ltd. (the “Company”) (
Victor Bryant, CEO/President comments,
“Another Major Milestone has been Reached. At midnight Thursday, April 30, 2015, Highbank director, Mr. Jim Place, P.Geo, boarded the 100 foot seagoing tug “Sea Warrior” at the Port of Prince Rupert, B.C., Canada. Mr. Place accompanied the tug and barge up the Portland Canal, to Highbank’s oceanside Swamp Point North (“SPN”) Quarry. The Sea Warrior arrived at 10:00 a.m. Friday, May 1, 2015 and is the first commercial vessel to moor at the Company’s recently built barge-loading facility. With the barge anchored, crews immediately put to work the barge load-out conveyor system, loading approximately 4000 tons of customer ordered 1″ base crush material through the night. This first deployment of our barge loading system performed better than anticipated, and loading was accomplished sooner than expected. The “Sea Warrior” then towed the loaded barge to deliver the Company’s first commercial shipment of aggregate, to the Port of Prince Rupert, arriving Saturday, May 2, 2015.”
“The arrival of this first sand and gravel aggregate shipment to Prince Rupert is a milestone in the development of Highbank’s deposit. It signifies to shareholders that their faith in the Highbank development has been justified. Importantly, it also demonstrates to local end users that a new high quality, competitive, and locally sourced aggregate is now available.”
Port of Prince Rupert construction and LNG updates
Expansion to the Fairview container terminal:
The final investment decision was made for the expansion of the Fairview container port on March 10, 2015 stating construction to start in April 2015. April 2, 2015 the Maher Terminal’s Fairview Container Terminal was sold to DP World Ltd. of Dubai, UAE for $580 million CDN.
“Fairview Container Terminal offers the fastest access for vessels traveling between Asia and North America,” DP World chief executive Mohammed Sharaf said in a statement. “The terminal also offers the highest productivity rates on the West Coast and an efficient rail link to the hinterland. The long-term concession and ability to build beyond the current Phase 2 of expansion presents a fantastic opportunity for DP World.” Read more: http://ow.ly/Mpdzq
Pacific NorthWest LNG (“Petronas”) and the B.C. Government
Further to our news release January 13, 2015 announcing Petronas agreements: (i) a 25 year agreement-in- principle in support of infrastructures and services totaling $150 million with the District of Port Edward, (ii) an agreement with the Metlakatla First Nation, and (iii) an Impact Management Benefits agreement (IMBA) term sheet with the Kitselas First Nation, additional progress has been announced.
This week’s majority ruling from the National Energy Board (“NEB”) panel paves the way for TransCanada to construct the North Montney Mainline (“NMM”) gas route in northeastern B.C., where producers have enjoyed success with prolific gas wells. The NMM would connect with TransCanada’s proposed Prince Rupert Gas Transmission project, see http://ow.ly/MuveB . Upcoming LNG meetings will be taking place May 4- 12, 2015 in Lax Kw’alaams, Prince Rupert and Vancouver leading to a vote on the $1.15 billion B.C. Government/Petronas deal http://ow.ly/MuA5W. On March 2, 2015, Malaysia’s Petronas chief executive officers, announces that expects to make its final investment decision on an US $11-billion liquefied natural gas (“LNG”) export terminal on Lelu Island by the end of June 2015 http://ow.ly/MuAuL.
On behalf of the Board of Directors of HIGHBANK RESOURCES LTD.
“Victor N. Bryant”
Victor N. Bryant, CEO/President
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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.