SOURCE: Black Dragon Resource Companies, Inc.

November 16, 2007 09:00 ET

Black Dragon Announces a Change of Officers and Directors

DALLAS, TX--(Marketwire - November 16, 2007) - Black Dragon Resource Companies, Inc. (PINKSHEETS: BDGR) today announced the removal of existing Officers and Directors and placement of a newly elected Board of Directors.

On November 8, 2007 a written consent of shareholders was delivered to the registered agent of Black Dragon Resource Companies, Inc. ("Company"). The consent took actions to remove all of the directors: Louis Chighisola Jr., Thomas Neely, Richard Ronsheimer, including any individuals purporting to be on the board of directors which included Joseph Lanza. The consent also took actions to install the following individuals as the only members of the Company's board of directors: Robert McGuire, Louis Chighisola, Jr., and Peter Lau.

Subsequently, by a unanimous consent of the Directors referenced above, the following individuals were elected officers: Robert McGuire as President, Peter Lau as Vice President and Treasurer and Louis Chighisola, Jr. as Secretary.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This release contains forward-looking statements, which express the current beliefs and expectations of management. Such statements are based on current expectations and involve a number of known and unknown risks and uncertainties that could cause Black Dragon's future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied by such forward-looking statements. Important factors that could cause or contribute to such differences include: the status and timing of Management's ability to re-capitalize Black Dragon through a combination of additional debt and primarily equity financing and to successfully complete the remaining research and development of its oil and gas properties, as well as other factors that are discussed in Black Dragon's filings with the U.S. Securities and Exchange Commission. Forward-looking statements speak only as of the date on which they are made, and Black Dragon undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.