Vancouver, B.C. – October 24, 2013 –Highbank Resources Ltd. (the "Company") (TSX Venture: HBK) is pleased to announce the closing of the second tranche of a private placement (the "Offering") as originally announced on July 15, 2013.

The Offering consisted of the sale of 1,793,750 units of the Company (the "Units") at a price of $0.08 per Unit for total gross proceeds of $143,500. Each Unit consists of one common share of the Company and one transferable share purchase warrant (a "Warrant"). Each Warrant is exercisable into one common share of the Company for a period of 24 months from closing at an exercise price of $0.10 in the first year and $0.12 in the second year.

The Company is paying cash finder’s fees equal to 8% on a portion of the gross proceeds raised from the Offering or $8,920 and the issuance of 15,000 warrants will be paid/issued to PI Financial Corp.

The funds raised from the issuance of the securities shall be used for continued development of the Swamp Point North aggregate project – costs incurred in the preparation of the Notice of Work ("NoW") permit application, and for general working capital.

The securities issued will be subject to a four month hold period expiring February 24, 2014.

As previously announced on July 15, 2013 and September 5, 2013 (closing of the 1st tranche of 400,000 units), the Company will be proceeding with subsequent closings for an aggregate of 3,000,000 units at $0.08.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or the securities laws of any state of the United States and may not be offered or sold within the United States or to, or for the account or the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.

On behalf of the Board of Directors of


"Gary Musil"

Gary Musil,

CFO and Director

This News Release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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