BlackPearl to Commence Trading on NASDAQ OMX Stockholm

CALGARY, ALBERTA--(Marketwire - Oct. 30, 2012) - BlackPearl Resources Inc. ("BlackPearl" or the "Company") (TSX:PXX)(FIRST NORTH:PXXS) is pleased to announce that it has obtained approval of a secondary listing of its Swedish Depository Receipts ("SDRs") on NASDAQ OMX Stockholm (the "Main Market") (the "Listing"). The SDRs are expected to commence trading on the Main Market on November 6, 2012. The last day of trading of the Company's SDRs on the NASDAQ OMX First North is expected to be November 5, 2012. Holders of the Company's SDRs are not required to take any action in connection with the Listing. There is no issue of new shares in connection with the Listing, and the trading symbol "PXXS" ISIN-code SE0002060863 will remain the same. The Company's common shares will continue to trade on the Toronto Stock Exchange under the symbol "PXX".

A prospectus has been prepared in connection with the application for admission of the Company's SDRs to trade on the Main Market. The Company's listing prospectus has been approved by and registered with the Swedish Financial Supervisory Authority and is available on the Company's website at www.blackpearlresources.ca and Pareto Öhman AB's website at www.paretosec.com. Pareto Öhman AB is the financial advisor to the Company in connection with the Listing.

BlackPearl's Certified Advisor on First North is Pareto Öhman AB.

Company Registration Number: 454611-3