TSX - "HBK"
12g3-2(b): 82-1508
June 7, 2010
Highbank Resources Ltd. (the “Company”), (“HBK”), Portland Canal Aggregates Corp. (“Portland Canal”), et.al., have received a decision with respect to ownership of the Swamp Point North aggregate deposit.
In a 58 page decision, Madam Justice Wedge, of the British Columbia Supreme Court has dismissed all the claims initiated by Hidden Rock Drilling Ltd.
The ownership of Swamp Point North by Portland Canal is validated and Highbank has the right to resume development of the property, to complete the environmental requirements and bring the deposit to production.
For further details of the decision please review www.courts.gov.bc.ca
ON BEHALF OF THE BOARD OF DIRECTORS
“JAKE BOTTAY”
Jake Bottay,
CEO/Director
Statements contained in this news release contain certain forward-looking
statements and information relating to Highbank’s future plans, timing
of development or potential expansion or improvements. Such forward-looking
statements are subject to risks and uncertainties which could cause actual results
to differ materially from estimated results. Such risks and uncertainties include,
but are not limited to, Highbank’s ability to raise sufficient capital
to fund development, changes in economic conditions or financial markets, changes
in prices for Highbank’s aggregate products, increases in environmental
and other regulatory developments, operational difficulties or inability to
obtain permits encountered in connection with our development activities, and
changing foreign exchange rates.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.