Blackdog Resources Ltd.

Blackdog Resources Ltd.

October 21, 2008 08:00 ET

Blackdog Announces Intention to Commence Normal Course Issuer Bid

CALGARY, ALBERTA--(Marketwire - Oct. 21, 2008) - Blackdog Resources Ltd. ("Blackdog" or the "Corporation") (TSX VENTURE:DOG) announces the commencement of a normal course issuer bid (the "Bid") pursuant to the policies of the TSX Venture Exchange (the "TSXV"). Subject to regulatory approval the Bid will commence on October 27, 2008 and expire on October 26, 2009. Pursuant to the Bid, the Corporation may acquire up to an aggregate 825,322 of its common shares, representing 5% of the 16,506,447 common shares issued and outstanding.

It is the Corporation's intention to acquire the common shares at prices that represent a discount to the underlying net asset value per share. Commons shares acquired will be subsequently cancelled. The objective of the Bid is to provide capital appreciation and market stability for the benefit of the Corporation's shareholders.

Purchases under the Bid will be carried out by Blackmont Capital Inc. of Calgary, Alberta, through the facilities of the TSXV.

Blackdog is a junior oil and gas company with producing oil and gas properties in Alberta and Saskatchewan.

Forward Looking Statement - This news release contains statements about future events that are forward looking in nature and, as a result, are subject to certain risks and uncertainties such as changes in plans or the occurrence of unexpected events. Actual results may differ from the estimates provided by management.

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

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