Blackhawk Resource Corp.
TSX VENTURE : BLR

Blackhawk Resource Corp.

December 07, 2011 09:00 ET

Blackhawk Names David Bryson as President

New Appointment Signals Planned Expansion into the United States

CALGARY, ALBERTA--(Marketwire - Dec. 7, 2011) -

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Blackhawk Resource Corp. ("Blackhawk" or the "Corporation") (TSX VENTURE:BLR) today announced that David A. Bryson has joined as President and a Director of the Corporation. Mr. Bryson will be responsible for leading the Corporation's growth strategy, particularly the Corporation's planned acquisition of United States oil and gas properties.

Blackhawk, a Calgary-based oil and gas exploration company, currently operates in the Western Canadian Sedimentary Basin. With Mr. Bryson joining the Corporation, the Corporation will be considering strategic oil and gas acquisitions in the United States, with an emphasis on producing properties that would enable the Corporation to pay a dividend.

Mr. Bryson comes to Blackhawk with over 17 years of experience in the US finance and oil and gas industries. He has a diverse range of experience that includes engineering, marketing, acquisitions and divestments. After graduating from the United States Naval Academy and serving as an officer in the United States Navy, Mr. Bryson worked on Wall Street for 14 years as a commodity trader and investment manager. In 2007 Mr. Bryson founded Prospect Ridge Energy, a private US-based oil and gas producer. Under his leadership Prospect Ridge grew from start up to over 1,200 BOE/day, with operations in Texas, Louisiana and Kentucky.

"We are very excited to have someone with David's background join us. He will be a key driver in completing the growth plans of Blackhawk," stated Dave Antony, CEO of the Corporation.

Bryson has agreed to complete a private placement in the amount of $357,500 in a subscription for 6,500,000 common shares of the Corporation as part of his commitment. The private placement is subject to TSX Venture Exchange acceptance and the common shares will be subject to a statutory hold period of four months plus one day from the date of issuance.

The Corporation would also like to announce that the sale of the Bodo properties, as announced on July 7, 2011, has been terminated, due to certain conditions not being met by the purchasers.

The Corporation has also approved the granting of an additional 4,400,000 stock options to various directors, officers and key consultants. Of this amount a total of 4,000,000 are approved to be granted to directors and officers. The options will be granted at an exercise price of $0.10 per Common Share and expire five years from the date of grant. The Corporation has determined that exemptions from the various requirements of TSX Venture Exchange Policy 5.9 are available for the granting of the options.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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