Hi-View to acquire Borealis from Coast Copper

Mr. R. Nick Horsley reports HI-VIEW TO ACQUIRE 1992 PLACER DOME PORPHRY TARGET ADJACENT TO CENTERRA'S KEMESS COMPLEX Hi-View Resources Inc. has signed a definitive agreement with Coast Copper Corp. to acquire the Borealis project, 9,106.06 hectares of additional ground immediately south of the company's claims, expanding the land position in the Toodoggone district of north-central British Columbia. The newly acquired ground captures three historically documented occurrences -- Firesteel, Bren and Cas -- positioned along a west-to-east corridor of limestones, altered volcanic rocks and early Jurassic intrusions on the eastern margin of the Stikine terrane, approximately eight to 10 kilometres northwest of the Kemess deposits. Hi-View chief executive officer and director R. Nick Horsley stated: "Hi-View has doubled our land package, strategically positioning us adjacent to Centerra's Kemess complex, where porphyries have occurred in clusters. The 1992 Placer Dome program at the Cas area revealed a high-potential target, with IP chargeability highs (up to 73 msec), magnetic anomalies outlining pyritic zones and sulphide-bearing alteration along a monzonite margin. Geochemical signatures [include] soils up to 138 ppm Cu and 970 ppb Au, rocks assaying up to 2.3 per cent Cu, 695 ppb Au and 106 g/t Ag, alongside a molybdenum anomaly indicating transportation from a potential nearby porphyry source. This acquisition I believe unlocks significant shareholder value, allowing us to acquire [a] 100-per-cent interest without any work commitments in an exciting target." Cas At the Cas area, the 1992 Placer Dome program combined induced polarization, ground magnetometer and very low frequency/electromagnetic surveys with soil and rock geochemistry. The work defined two strong IP chargeability highs (up to 73 milliseconds) with coincident low resistivity within zones of pyritic clay alteration along the margin of a monzonite stock. Ground magnetics showed elevated responses over the intrusion and adjacent alteration, suggesting possible extensions beneath cover and delineating subtle magnetic highs that track pyritic zones. Geochemistry returned sporadic copper and gold anomalies associated with limonitic quartz veins in the alteration footprint soils up to 138 parts per million copper and 970 parts per billion gold, and rocks up to 2.3 per cent Cu and 695 ppb Au. Within this setting, Cas comprises multistage quartz veins hosted by lapilli tuff, including a sample assaying 106 grams per tonne silver. Taken together, the data sets outline a possible sulphide-bearing alteration system at an intrusive margin, and element mobility analysis indicates gold-silver-copper anomalies are short transport and likely near source, whereas elevated molybdenum may reflect more mobile dispersion from a porphyry-style source. Bren Within the land package, Bren hosts silver-rich polymetallic veins and breccias localized in structurally prepared zones. Drilling reported 349.7 g/t Ag and 0.68 g/t Au over 0.09 metre (hole G-6), 140.2 g/t Ag and 0.68 g/t Au over 0.60 m (G-3), and 123.1 g/t Ag with 0.34 g/t Au over 0.60 m (G-7). Surface work recorded very high-grade silver intervals from 11,135.5 g/t Ag over 0.45 m down to 801.3 g/t Ag over 1.35 m, and a grab sample assayed 0.695 g/t Au, 40 g/t Ag, 0.85 per cent zinc, 1.16 per cent lead and 2.3 per cent copper. Firesteel Another area of the land package, Firesteel, occupies a limestone-volcanic contact where carbonate-reactive rocks focus fluids and heat. Mineralization is best described as a replacement/skarn setting with associated silver-bearing veins. Work reports chip and trench intervals of 11.5 per cent Zn, 0.50 per cent Cu and 54.0 g/t Ag over 4.8 m; 2.3 per cent Zn, 0.3 per cent Pb and 106.0 g/t Ag over 2.1 m (trench 57); and 0.80 per cent Zn, 1.2 per cent Cu and 177.8 g/t Ag over 0.9 m (trench 101). Additional work noted a historical resource estimate, with Freibergite-bearing quartz veins up to 11,163 g/t Ag over 0.46 m, selective samples of 12 to 44 per cent zinc with 0.25 to 0.74 per cent copper and 2.7 to 195 g/t Ag, and a 1.0-metre chip grading 10.5 per cent Zn. Hi-View plans to review and potentially follow up on these anomalies with updated geophysical and drilling programs, subject to permitting and market conditions. Agreement terms Under the terms of the agreement, Hi-View will: Immediately pay Coast Copper a non-refundable deposit of $50,000, which will be spent on exploration expenditures on the property to keep it in good standing for a period of 12 months; Upon closing of the transaction, make a cash payment of $450,000 to Coast Copper; Upon closing of the transaction, issue to Coast Copper 3.5 million consideration shares; the first 1.05 million consideration shares will become free trading four months after the completion of the transaction, and the remaining consideration shares will become free trading in equal amounts of 350,000 consideration shares at the end of each following month, such that the final 350,000 consideration shares will become free trading 11 months after the completion of the transaction. Coast Copper will retain a 3-per-cent net smelter return royalty on the property, of which Hi-View will have to right to repurchase 1 per cent for $2.5-million and an additional 1 per cent for $5-million. Transaction bonus If, after the closing date, Hi-View completes a sale transaction, defined as a transaction resulting in a direct or indirect sale or transfer of property or a takeover, amalgamation, plan of arrangement or business combination in respect of Hi-View, the result of which 51 per cent or more of the issued and outstanding equity or voting interests of Hi-View is acquired by a single arm's-length third party, and provided that, immediately before the consummation of such sale transaction, either: (a) Hi-View, or an affiliate thereof, continues to own an interest in the property; or (b) Hi-View, or an affiliate thereof, has disposed of an interest in the property in a transaction connected or related to the sale transaction, Hi-View agrees to pay to Coast Copper, within five business days following the completion of the sale transaction, a one-time bonus payment in accordance with the following scale: If the transaction is less than $10-million, the bonus payment would be $500,000, if $10-million to $20-million, the bonus payment would be $1-million and, if greater than $20-million, the bonus payment would be $1.5-million. The bonus payment shall be paid in cash. Where the sale transaction is structured as an option, joint venture or other transaction with staged or conditional payments, the bonus payment shall not become payable until such consideration is actually received by Hi-View, its affiliate or its securityholders and further provided, for greater certainty, that the bonus payment shall be paid in stages as the aggregate transaction value of such staged or conditional payments totals the above-listed thresholds. The completion of the transaction is subject to standard closing conditions, including receipt of all necessary regulatory approvals, including the approval of the Canadian Securities Exchange. A finder's fee may be payable pursuant to Canadian Securities Exchange policies. In addition, the company has granted a total of 2.7 million restricted share units and deferred share units to select directors, officers and consultants under the company's restricted share unit and deferred unit plan. Cautionary note All technical information and assay results referenced above are historic in nature, sourced from publicly available assessment reports and government databases. The company has not yet verified these results, which may not be representative of the overall mineralization on the property. Reported grab samples are selective by nature and may not represent average grades, while chip samples represent localized exposures and reported widths may not reflect true widths. Confirmation of the reported mineralization will require future fieldwork, sampling and analytical programs carried out under industry-standard quality assurance/quality control procedures. Qualified person's statement The technical content of this news release has been reviewed and approved by Marilyne Lacasse, PGeo, a qualified person as defined by National Instrument 43-101. Ms. Lacasse is not independent of the company. About Hi-View Resources Inc. Hi-View is a mineral exploration company targeting gold, silver and copper in the Toodoggone region of Northern British Columbia, Canada. Its 100-per-cent-owned properties span 9,749 hectares, including the Golden Stranger property (2,669 hectares) and the Lawyers East, West and South claims. Additionally, the company has optioned the Saunders and Nub properties that span 1,083.5 hectares for a total size of 10,832,5 hectares. The Golden Stranger project is fully permitted with 45 drill-ready sites. Historical drilling highlights include 10 metres at 11.55 g/t gold, there is a historical resource estimate. Sampling yielded up to 111.5 g/t gold and 2,740 g/t silver, with new mineralized zones identified 1.3 kilometres from the main showings, indicating significant exploration potential. We seek Safe Harbor.