Black Bull Resources Inc.
TSX VENTURE : BBS

Black Bull Resources Inc.

February 01, 2006 07:56 ET

Black Bull Resources Inc.: Interim Financial Statement Release

SHELBURNE, NOVA SCOTIA--(CCNMatthews - Feb. 1, 2006) - Black Bull Resources Inc. (TSX VENTURE:BBS) has released its Interim Report including the Financial Statements and Management Discussion & Analysis for the quarter ended December 31, 2005. The Company recorded a net loss during the quarter of $484,535 ($298,660 December 31, 2004) or $0.011 per share ($0.007 December 31, 2004).

The Company's loss was a result of costs associated with commissioning a new production facility. During the period, Black Bull completed construction and commissioning of its quartz processing plant and hired sufficient staff to operate one shift. The Company has begun processing customer-requested Scotia White™ samples.

Over the next two fiscal quarters, Black Bull will evaluate the requirements for the expansion of equipment and additional personnel based on the results from its samples and joint marketing efforts with U.S. Silica Company.

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.

Contact Information