Blackhawk Resource Corp.

Blackhawk Resource Corp.

May 27, 2011 09:10 ET

Blackhawk Resource Corp. Cancels Business Combination

CALGARY, ALBERTA--(Marketwire - May 27, 2011) - Blackhawk Resource Corp. ("Blackhawk") (TSX VENTURE:BLR) announces that the proposed merger with Perfco International Energy Inc. ("Perfco") has been cancelled, due to certain conditions by Perfco not being met. This business combination was previously announced on March 29, 2011.

The Annual General and Special Meeting of the Blackhawk Shareholders, originally scheduled to be held May 26, 2011 has been postponed. When a new date is finalized a public announcement will be made.

The TSX Venture Exchange has in no way passed upon the merits of the proposed Transactions and has neither approved nor disapproved the contents of this press release. 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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