HIGHBANK ANNOUNCES INTERIM FILINGS UPDATE

Vancouver, B.C. – May 22, 2020 - Highbank Resources Ltd. (TSX.V –“HBK”), (the “Company”) is providing an update on the status of the filing of its interim financial statements, including the accompanying management’s discussion and analysis, and related CEO and CFO certifications for its interim ended March 31, 2020.

On March 18, 2020, the Canadian Securities Administrators (“CSA”) issued a notice stating that securities regulators will be providing coordinated relief consisting of a 45-day extension for certain periodic filings required to be made on or prior to June 1, 2020 as a result of the COVID-19 pandemic. Accordingly, the British Columbia Securities Commission (“BCSC”) has enacted BC Instrument 51-515, Temporary Exemption from Certain Corporate Finance Requirements (“BCI 51-515”).

The Company is relying on the Blanket Exemption Orders in delaying (i) the filing of its interim financial statements and related management discussion and analysis for the three months ended March 31, 2020 (collectively, the "Required Interim Filings") and (ii) compliance with the delivery requirements of applicable securities laws relating to the Required Interim Filings.

The Company currently intends to make the required Interim Filings by July 14, 2020 (+ 45 days from May 30, 2020)

Management, directors, and insiders of the Company are subject to an insider trading black-out policy until the delayed filings are completed, reflecting the principles in section 9 of National Policy 11-207 Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.

The Company confirms that since the filing of its interim financial statements for the period ended September 30, 2019, there have been no material business developments other than those disclosed through news releases and filed under the Company’s SEDAR profile at www.sedar.com

"Gary Musil"

Gary Musil

CFO/Director

This News Release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Forward-looking statements are projections of events, revenues, income, future economic performance or management’s plan and objective for future operations and include, without limitation, statements with respect to the anticipated production from the Swamp Point North Aggregate Project, the realization of mineral estimates, success of mining operations, the timing and amount of estimated future production, title disputes or claims, environmental risks, limitations on insurance coverage, current and anticipated purchase negotiations and arrangements, requirements for additional capital; and government regulation of mining operations. In some cases, you can identify forward -looking statements by the use of terminology such as “may”, “should”, “expects”, “plans”, “anticipates”, “believes”, “estimates”, “predicts”, “potential” or “continue” or the negative of these terms or other comparable terminology. By their very nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors, including: fluctuations in worldwide prices and demand for aggregates; changes in project parameters as plans continue to be refined; possible variations in grade and or recovery rates; accidents, labour disputes as well as those factors detailed from time to time in the Company's interim and annual financial statements and management's discussion and analysis of those statements, are filed and available for review on SEDAR at www.sedar.com.

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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