Black Tusk Minerals Announces Fee Arrangement Agreements

Black Tusk Minerals Inc. announce that on May 29, 2009, the Company entered into fee arrangement agreements with Dorsey & Whitney LLP and Rodrigo, Elias & Medrano Abogados, to settle the payment of legal fees.

Under the terms of the agreement with Dorsey & Whitney LLP, the Company settled the obligation by (i) issuing a convertible promissory note in the principal amount of $50,000, accruing interest at the rate of 4% per annum, due and payable on the earlier of: (a) January 23, 2012, (b) the Company closing an acquisition transaction or (c) the date the Company raises financing of $250,000 or more; and (ii) issuing warrants exercisable until January 23, 2012 to purchase Two Hundred Fifty Thousand (250,000) shares of common stock at an exercise price of $0.20 per share.

Under the terms of the agreement with Rodrigo, Elias & Medrano Abogados, the Company settled the obligation by issuing a convertible promissory note in the principal amount of $11,500, accruing interest at the rate of 4% per annum, due and payable on the earlier of: (a) January 23, 2012, (b) the Company closing an acquisition transaction or (c) the date the Company raises financing of $250,000 or more; and (ii) issuing warrants exercisable until January 23, 2012 to purchase Fifty Thousand (50,000) shares of common stock at an exercise price of $0.20 per share.

Both agreements have an anti-dilution provision to adjust the conversion price of the warrants if the Company issues additional common stock or equivalents at a price lower than the conversion price with a floor of $0.10 per share.