Blackstone Ventures Inc.

Blackstone Ventures Inc.

January 19, 2010 08:00 ET

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

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 19, 2010) - Blackstone Ventures Inc. (TSX VENTURE:BLV) 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.

About Blackstone

Blackstone is a mineral exploration company focused on base and precious metals in Scandinavia. Blackstone's primary assets are extensive nickel-copper holdings in Sweden and Norway including six deposits with current NI 43-101-compliant resources.

On behalf of Blackstone Ventures Inc.

Dean MacEachern, President

Caution Regarding Forward-Looking Statements - This news release contains certain forward-looking statements, including statements regarding the business and anticipated financial performance of the Company. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward looking statements, oral or written, made by itself or on its behalf.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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