Brownstone Ventures Inc.
TSX VENTURE : BWN

Brownstone Ventures Inc.

April 24, 2008 09:41 ET

Brownstone Ventures Inc. Acquires Securities of Altai Resources Inc.

TORONTO, ONTARIO--(Marketwire - April 24, 2008) - Brownstone Ventures Inc. (TSX VENTURE:BWN), announces that on April 16, 2008 it acquired ownership of 1,000,000 common shares ("Common Shares") of Altai Resources Inc. ("Altai") and 500,000 common share purchase warrants (the "Warrants"). Each Warrant entitles the holder thereof to acquire one additional common share at a price of $0.60 until April 16, 2010. In the event that the Warrants are fully exercised, these holdings represent approximately 3.8% of the total issued and outstanding common shares of Altai as of April 16, 2008, calculated on a partially diluted basis assuming the exercise of the Warrants only. As a result of this transaction, Brownstone and its joint actors collectively held, as at April 16, 2008, an aggregate of 5,460,700 common shares of Altai and the Warrants. Of these totals, Brownstone owns an aggregate of 3,475,000 common shares and the Warrants directly. In the event that the Convertible Securities are fully exercised, the aggregate holdings of Brownstone and its joint actors represents a total of 5,960,700 common shares of Altai, or approximately 15.0% of all issued and outstanding common shares as at April 16, 2008, calculated on a partially diluted basis assuming the exercise of the Warrants only. In the event that only the Warrants held directly by Brownstone are fully exercised, Brownstone's direct holdings would represent approximately 13.9% of all issued and outstanding common shares of Altai as of April 16, 2008, calculated on a partially diluted basis assuming the exercise of the Warrants only.

These transactions were made for investment purposes and Brownstone and or its joint actors could increase or decrease its investment in Altai depending on market conditions or any other relevant factor.

About Brownstone

Brownstone Ventures Inc. is a well-financed Canadian-based, energy focused investment company with direct interests in oil and gas exploration projects, including working interests in almost 300,000 acres in the Piceance/Uinta Basins of Colorado and Utah, 295km2 in the Assam/Arakan Basin, Northeast India and 253,000 acres in Rio Negro, Argentina. For additional information, please see Brownstone's website: www.brownstoneventures.com.

Statements in this release that are forward-looking statements, including those in respect of the drilling program for the North Barcus Creek wells, are subject to various risks and uncertainties including the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Corporations' periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The corporation does not assume the obligation to update any forward-looking statement, except as required by law.

The TSX Venture Exchange does not take responsibility for the adequacy or accuracy of this release.

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