Acquires a 51% Interest in Properties in the Beardmore-Geraldton Area
Vancouver, British Columbia, April 30, 2010 ... Highland Resources Inc. (the "Company") is pleased to report that further to the Mineral Property Purchase and Joint Venture Agreement entered into by the Company and Canadian Prospector Inc. ("CPI") in 2009, as amended, (collectively, the "Purchase Agreement") the Company has incurred the required minimum of $1,000,000 of Exploration Expenditures on the properties located in the Beardmore-Geraldton area of the Thunder Bay Mining District, Ontario (the "Property"). The Property is comprised of 88 mineral claims consisting of approximately 18,624 acres in an area known to host numerous gold deposits along with hosting numerous base metal occurrences. The claims are subject to a 3% net smelter return royalty in favour of Jamie Wheeler, the President and Chief Executive Officer of CPI.
In accordance with the provisions of the Purchase Agreement, Highland has given notice to CPI that it has completed all of its obligations to complete the purchase of a 51% interest in the Property. Accordingly, the shares issued by Highland to acquire its interest, being 2,916,666 common shares of the Company are now eligible to be released from escrow and, in accordance with the provisions of the Purchase Agreement, delivered to CPI's shareholders.
ON BEHALF OF THE BOARD
Signed "Roger Blair"
Roger Blair, President and Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Contact: Roger Blair
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