High North Resources Ltd. announced that it has commenced drilling its sixth Montney horizontal oil well, located at 8-9-76-21W5M, which is part of its 100% interest in 20.25 contiguous sections of land in the Girouxville-McLean Creek area. This well is located on the same geological structure as the company's most successful Montney oil producers in section 2-76-21W5M and west of its five existing oil producers drilled to-date on this contiguous land. The company expects the drilling of this well to extend the Montney oil pool boundary and increase the company's inventory of horizontal drills required to maximize efficient recovery.

As previously announced, the company anticipates drilling a minimum of four Montney horizontal oil wells per section. The company commenced delivering clean oil during September, 2014, in advance of its previously announced timeline, as a result of the installation of a multi-well battery located at the 09-03-76-21W5M pad. Emulsion containing oil from 09-26-75-21W5M and 08-21-76-21W5M is being delivered to the 9-3 battery resulting in increased netbacks to the Company (through a reduction in emulsion treatment and water disposal costs).

The company anticipates receiving, in the near future, an updated draft reserve report from its third-party evaluator, GLJ Petroleum Consultants. The company's previous reserve report dated April 7, 2014, and effective March 31, 2014, reflected reserves pertaining to the company's first three wells.