Blackdog Resources Ltd.

Blackdog Resources Ltd.

January 02, 2007 08:58 ET

Blackdog Closes $989,000 Flow Through Financing

CALGARY, ALBERTA--(CCNMatthews - Jan. 2, 2007) -

This news release is not for dissemination in the United States.

Blackdog Resources Ltd. ("Blackdog") (TSX VENTURE:DOG) is pleased to announce that it has completed its previously announced private placement of 1,799,610 flow through common shares at $0.55 per share, for gross proceeds of $989,785.50. The shares will be subject to a four month hold period expiring on April 30, 2007.

Blackmont Capital Inc. acted as agent for the financing and along with its sub-agent, was granted an option to purchase up to 8% of the number of shares sold under the offering at $0.55 per share until December 29, 2007.

The proceeds of this offering will be used to expand Blackdog's three recently announced farm-in exploration and development deals and for other drilling opportunities in the Western Canadian Sedimentary Basin.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain 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.

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