Mr. Victor Bryant reports

HIGHBANK & HOBIYEE-MATRIX TERMINATES "MOU"

Hobiyee-Matrix Logistics and Hobiyee Management Ltd. (HML) have decided they no longer wish to continue to work with Highbank Resources Ltd., and as a result, the memorandum of understanding (MOU) announced on May 1, 2014, is mutually terminated. For further details of the original terms of the MOU, please review the May 1, 2014, news release.

Termination of this MOU in no way affects Highbank's policy of continuing to maintain its working relationship with the Metlakatla and other first nations in moving forward with the development of Swamp Point North toward production.