Highbank (HBK.V) Signs Tug & Barging Letter of Intent and Completes 'OLTC' Timber Assessment
VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 27, 2014) - Highbank Resources Ltd. (TSX VENTURE:HBK)(FRANKFURT:V7O) (the "Company" or "Highbank") is pleased to announce:
TUG & BARGING LETTER OF INTENT ("LOI")
Highbank has signed a LOI with West Coast Tug & Barge Ltd.("West Coast Tug") of Campbell River, B.C. for barging aggregate from the Swamp Point North operation to destinations in the Port Simpson and Prince Rupert area. Highbank is pleased with the scheduling from West Coast Tug to provide two barges to operate from the property, which allows one to be loaded while the other is en route with aggregate to its destination or returning for re-loading.
It is anticipated that this LOI will be formalized soon and be in operation for the duration of all the construction projects in the northwest coast area. Victor N. Bryant comments, "With this agreement in place, Highbank is now able to deliver aggregate production at very competitive prices."
OCCUPANT LICENCE TO CUT ("OLTC")
Mr. Stan Spletzer, V.P. of Aggregate Operations, accompanied by a representative of Cypress Forest Consultants Ltd. of Terrace, B.C. helicoptered to the Swamp Point North site on March 24, 2014. A merchantable timber assessment was compiled and a report was delivered to Highbank. This assessment will be used to compile our OLTC application to the Ministry of Forests, Lands and Natural Resource Operations ("FLNRO").
Highbank is proceeding forward with providing the Ministry of Energy and Mines ("MEM"), with final engineered construction drawings, and further documents, as required within (30) days prior to mobilization to the site.
On behalf of the Board of Directors of
HIGHBANK RESOURCES LTD.
Victor N. Bryant, CEO/President
