Black Pearl Minerals Consolidated Inc.
TSX VENTURE : BLK

Black Pearl Minerals Consolidated Inc.

September 27, 2007 15:54 ET

Black Pearl Minerals Consolidated Inc.: News Release

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 27, 2007) - Black Pearl Minerals Consolidated Inc. (TSX VENTURE:BLK) is pleased to announce the appointment of Judy Baker as President and Director of Black Pearl. Ms. Baker holds an Honours B.Sc., Geological Engineering in Mineral Resources Exploration, and an M.B.A and has fourteen years of experience in the mining and mineral exploration sector including public company experience, equity analysis, fund management and exploration activity. Ms. Baker's experience will be an addition to the Black Pearl management team as the company advances the Gold Dust bulk sample at the Ferro/Wekusko Gold property near Snow Lake Manitoba, the Timmins Offsets Gold project in Ontario, and the 4 Metals Copper/Moly. project near Nogales, Arizona. In conjunction with her appointment, Ms. Baker has been granted 700,000 stock options at an exercise price of $0.15 and a term of 5 years.

Black Pearl recently completed a non-brokered Flow Through Private Placement of $1,500,000 as well as a $1,500,000 principal amount convertible debenture financing. The convertible debentures bear interest at prime plus 1%, calculated annually in arrears and payable on September 5, 2009. The principal of the debenture is convertible into either: (a) common shares at a price of $0.22 per share until September 5, 2009; or (b) at any time after September 5, 2008, the holders pro rata share of 3,000 ounces of gold, payable in cash based on the price of gold on the day prior to conversion. Proceeds from the financings will be used to purchase a mill and other ore processing equipment for the extraction of the bulk sample for the Gold Dust advanced exploration project in Manitoba.

Additional information regarding the Company can be found at www.blackpearlminerals.com.

On behalf of the Board of Directors,

Robert Sibthorpe

Shares Outstanding: 41,965,301

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Black Pearl Minerals Consolidated Inc.
    Andrew Cook
    COO
    (604) 602-4935
    or
    Black Pearl Minerals Consolidated Inc.
    Jim MacDonald
    Corp. Communications
    (604) 602-4935
    Website: www.blackpearlminerals.com