Blackstone Mobilizes Drill to Uma Cu-Zn-Au Project in Northern Sweden

Blackstone Ventures Inc. announces that a diamond drill rig has now been mobilized to its 100% owned Uma Volcanogenic Massive Sulphide (VMS) project in northern Sweden and will begin drilling immediately. This first phase drill program at Uma South (southern portion of the 235,000 hectare property) will consist of approximately 12 – 20 holes.

Drilling will begin in the Uma South area to test new electromagnetic (EM) geophysical conductors recently outlined in a 750 line-kilometre airborne time domain EM survey as reported in a press release dated October 20, 2009. A total of 12 discrete anomalies, some with coincident surface sulphide showings, have been initially identified from the dataset. Drilling will include testing below very shallow 1950′s drill holes completed by Boliden which includes high-grade intersections up to 10.1% Cu, 21.7% Zn, 8.2% Pb and 12 gpt Au over 0.82 metres.

Blackstone’s Uma project covers boulders and outcrops of high-grade massive sulphide mineralization extending over a distance of 70 kilometres. This includes Uma South, as well as Cu-rich boulders in the central claims and recently uncovered outcrops and boulders assaying as high as 6.64% Cu, 20.9% Zn, 16.75% Pb, 87 gpt Ag and 0.54 gpt Au with new, untested EM conductors in the northern part of the project (Uma North). A first phase helicopter-supported drill program at Uma North is planned for this spring once day light hours and weather conditions allow.

Exploration programs are being carried out under the direction of Jari Paakki, P. Geo., Vice President of Exploration and Project Development for Blackstone and a qualified person as defined by National Instrument (NI) 43-101. The information in this release was prepared under the direction of Dean MacEachern, P.Geo., President and Chief Executive Officer for Blackstone, a qualified person as defined by NI 43-101.