Black Bull Resources Inc.
TSX VENTURE : BBS

Black Bull Resources Inc.

February 22, 2007 09:24 ET

Black Bull Resources Inc.: Close of Private Placement

SHELBURNE, NOVA SCOTIA--(CCNMatthews - Feb. 22, 2007) - Black Bull Resources Inc. (TSX VENTURE:BBS) announces the close of its non-brokered private placement, previously announced on December 22, 2006. The offering of $850,000 in convertible debentures was fully subscribed.

The convertible debentures, maturing February 15, 2008, bear interest at the rate of 12% per annum, and are convertible into common shares of Black Bull at a conversion rate of $0.15. No finder's fees were paid for the private placement. Directors and Officers subscribed to more than 60% of the offering.

All securities issued pursuant to the private placement are subject to a 4-month hold period from the date of issuance.

About Black Bull Resources Inc.

Black Bull Resources Inc. is a Canadian mining company based in Nova Scotia that operates the White Rock Mine near Shelburne. The Mine produces a bright-white, high-purity quartz, marketed under the Scotia White™ trademark which is used in a range of value-added, specialty products.

The White Rock Property also contains an identified resource of kaolin and mica which the Company plans to further develop.

Further detailed information may be obtained from the Company's website www.blackbullresources.com or corporate filings at www.SEDAR.com.

FORWARD LOOKING STATEMENTS: This news release contains certain forward-looking statements. All statements, other than statements of historical fact, included herein, including without limitation statements regarding the Company's mining properties, development results or future plans, are forward looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed elsewhere in documents that are available to the public.

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

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