Black Bull Resources Inc.
TSX VENTURE : BBS.H

Black Bull Resources Inc.

June 29, 2015 16:22 ET

Black Bull Provides an Update on RTO Transaction

SURREY, BRITISH COLUMBIA--(Marketwired - June 29, 2015) -

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Black Bull Resources Inc. ("Black Bull") (TSX VENTURE:BBS.H) provides the following update in connection with its proposed reverse take-over transaction with AUS Critical Metals Ltd. ("AUS"), as previously announced on April 30, 2014 and September 18, 2014 ("Transaction"). The previous definitive agreement has expired, however parties are currently negotiating the terms and conditions of a new definitive agreement, which are expected to remain similar to the previous agreement, to renew the Transaction and close on or before October 31, 2015.

Reinstatement to Trading

The common shares of Black Bull will remain halted pending receipt by the TSXV of certain required materials from Black Bull and until Black Bull engages a sponsor or a sponsorship exemption is granted.

Description of Significant Conditions to Closing

When a new definitive agreement between Black Bull and AUS is executed, which is expected to occur by July 30, 2015, in accordance with the policies of the TSXV, Black Bull will issue a subsequent press release containing the details of the definitive agreement and additional terms of the Transaction, including information relating to sponsorship, summary financial information in respect of AUS's assets, history of the assets, pro forma share capital of the resulting issuer, and further information regarding potential appointments of additional directors and officers upon completion of the Transaction.

Completion of the Transaction is subject to a number of conditions, including TSXV acceptance and disinterested shareholder approval. The Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the Management Information Circular or Filing Statement to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of the Company should be considered highly speculative.

Neither the TSX Venture Exchange, Inc. nor its Regulation Service Provider (as that term is defined under the policies of the TSX Venture Exchange) has in any way passed upon the merits of the Transaction and associated transactions and has neither approved nor disapproved of the contents of this press release.

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