Highbank Resources Ltd.

TSX - "HBK"
12g3-2(b): 82-1508

November 24, 2006

"NEWS RELEASE"

HIGHBANK CONTINUES TO RECEIVE SUBSCRIPTIONS TO ITS PRIVATE PLACEMENT

Further to our October 19/06 news release Highbank Resources Ltd. (“HBK”) continues to receive further subscriptions and is expecting to close an additional 1,250,000 units ($250,000 gross proceeds). The financing units are priced at $0.20 per unit. Each unit comprises one common share of the Company and one non-transferable two year warrant, with each warrant entitling the holder to purchase one further common share at an exercise price of $0.30 (1st year) or at $0.40 (2nd year). All of the securities issued are subject to a four-month hold period and regulatory approval.

OPTIONS

The Company has granted 400,000 incentive stock options to directors, officers and consultants under its Stock Option Plan for a period of two years at a price of $0.20 per share.

All securities issued are subject to regulatory approval and a four-month hold period.

ON BEHALF OF THE BOARD
Gary Musil, CFO/Secretary/Director

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.