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2014-04-11

BLACKPEARL ANNOUNCES ISSUANCE OF SHARES FOR $8.2 MILLION PURSUANT TO EXERCISE OF OVER-ALLOTMENT OPTION

BlackPearl Resources Inc.
Börsmeddelande

BLACKPEARL ANNOUNCES ISSUANCE OF SHARES FOR $8.2 MILLION PURSUANT TO EXERCISE
OF OVER-ALLOTMENT OPTION

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES

CALGARY, ALBERTA – BlackPearl Resources Inc. ("BlackPearl" or the "Company")
(TSX:PXX) (NASDAQ OMX Stockholm:PXXS) is pleased to announce that it issued
today 3,100,000 common shares at a price of $2.65 per share for gross proceeds
of $8,215,000 pursuant to the partial exercise of an over-allotment option
previously granted to the syndicate of underwriters led by FirstEnergy Capital
Corp. The over-allotment option was granted by BlackPearl in connection with
its recently completed $70,225,000 bought deal equity offering.

The Company intends to use the net proceeds from the exercise of the
over-allotment option to fund ongoing capital expenditures, including the first
phase of the Onion Lake thermal project, and for general corporate purposes.

This news release does not constitute an offer to sell or a solicitation of any
offer to buy the securities in the United States. The securities offered have
not been and will not be registered under the U.S. Securities Act of 1933 and
may not be offered or sold in the United States absent registration or an
applicable exemption from registration requirements of such Act.

Forward-Looking Statements

Certain of the statements made and information contained herein is
forward-looking statements and forward looking information (collectively
referred to as "forward-looking statements") within the meaning of Canadian
securities laws, including the use of proceeds. All statements other than
statements of historical fact may be forward-looking statements.
Forward-looking statements are often, but not always, identified by the use of
words such as "anticipate", "believe", "plan", "continuous", "estimate",
"expect", "may", "will", "project", "should", "predict", "targeting", "seek",
"intend", "could", "potential" or similar words. These statements involve known
and unknown risks, uncertainties and other factors that may cause actual
results or events to differ materially from those anticipated in such
forward-looking statements. The Company believes the expectations reflected in
those forward-looking statements are reasonable but no assurance can be given
that these expectations will prove to be correct and such forward-looking
statements should not be unduly relied upon.

Undue reliance should not be placed on forward-looking statements, which are
inherently uncertain, are based on estimates and assumptions, and are subject
to known and unknown risks and uncertainties (both general and specific) that
contribute to the possibility that the future events or circumstances
contemplated by the forward-looking statements will not occur. There can be no
assurance that the plans, intentions or expectations upon which forward-looking
statements are based will in fact be realized. Actual results will differ, and
the difference may be material and adverse to the Company and its shareholders.

For more information, please contact:
John Festival - President and Chief Executive Officer, Tel.: (403)
215-8313
Don Cook - Chief Financial Officer, Tel: (403) 215-8313

Författare SSE

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