Mr. Gary Musil reports

HIGHBANK RESOURCES SIGNS NEW OPTION TERMS ON TERRA NOVA PROPERTY, CENTRAL NEWFOUNDLAND

Highbank Resources Ltd., further to its news release of Nov. 10, has arranged new terms and signed a property option agreement with an arm's-length party on the Terra Nova property, central Newfoundland.

The property is located 30 kilometres northwest of Port Blandford in central Newfoundland. Access is from the town of Terra Nova via 12 km of transmission line road built for the Lower Churchill Falls power development. Additional trail and road development was completed in 2022-23 to provide better access to mineralized showings.

The property lies within the Gander zone which is an area of significant exploration interest as a result of Newfound Gold's Queensway gold project. Terra Nova is an interesting property as it has a large alteration area of 12 square kilometres which to date has been subjected to limited exploration. The property is considered to have potential to host mesothermal gold-polymetallic deposits. Further information can be reviewed on the company's website.

Terms of the option agreement, subject to regulatory approvals are:

• Issuing 250,000 common shares with 10 business days following exchange acceptance;

• Issuing a further 250,000 common shares within six months of the above;

• Payment of $15,000 on or before Oct. 1, 2024.

All shares issued will have the required four-month-plus-one-day hold pursuant to statutory regulations.

About Highbank Resources Ltd.

Highbank Resources is engaged in the business of acquiring and developing mineral projects located in North America.

• The company owns 100-per-cent interest in a fully commissioned sand and gravel quarry, more commonly known as the Swamp Point North project, approximately 115 kilometres (72 miles) north of the Port of Prince Rupert and 50 km south of the Port of Stewart situated along Portland Canal in northwestern British Columbia. The project has a National Instrument 43-101-compliant, measured and indicated 71,712,043-tonne construction aggregate resource. May, 2015, preliminary economic assessment valued the asset at $24.3-million with 8-per-cent discount to projected cash flows.

• The company is arranging an option to acquire 100-per-cent interest in the Terra Nova property located 30 km northwest of Port Blandford in central Newfoundland. The project has the potential to host mesothermal gold-polymetallic (Au, Ag, Cu and W (gold, silver, copper and tungsten)) deposits. The property lies within the Gander zone, which is an area of significant exploration interest.

We seek Safe Harbor.