Blacksteel Energy Inc.
TSX VENTURE : KRM.P

Blacksteel Energy Inc.

December 05, 2011 22:02 ET

Blacksteel Energy Inc. Adjourns Annual General and Special Shareholders' Meeting to Wednesday December 21, 2011

CALGARY, ALBERTA--(Marketwire - Dec. 5, 2011) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES

Blacksteel Energy Inc. (TSX VENTURE:BEY) ("Blacksteel" or the "Corporation") announces that it has adjourned its annual general and special meeting (the "Meeting") of the holders (the "Shareholders") of Class "A" common shares of Blacksteel until Wednesday December 21, 2011 at 3:00 p.m. (Calgary time) at the offices of Gowling Lafleur Henderson LLP, Suite 1400, 700-2nd Street S.W., Calgary, Alberta.

The Meeting was originally scheduled for Wednesday December 7, 2011 at 3:00 p.m. (Calgary time), but it has come to the attention of the Corporation that a number of beneficial Shareholders have not received the Shareholder material (the "AGM Material") that was delivered in contemplation of the Meeting. In order to ensure that all Shareholders have the opportunity to properly review the AGM Materials prior to the Meeting, the Corporation has decided to adjourn the Meeting for two weeks. Blacksteel would advise any beneficial Shareholder that has not received the AGM Material to contact the registered holder of their shares (generally the IIROC institution which holds their shares).

Blacksteel is a junior oil and gas company involved in the exploration, exploitation, development and production of petroleum and natural gas resources. The Corporation has a 100% working interest (55% after payout) in a natural gas producing property in the Grassland area of Alberta, a 23.3% working interest (15.5% after payout) in a producing oil well in the Devon area of central Alberta and a 100% working interest in a four section petroleum and natural gas lease in the Del Bonita Area of Southern Alberta.

Forward-Looking Information Cautionary Statement: This document contains forward-looking statements regarding the business and operations of Blacksteel. All statements other than statements of historical fact contained herein are forward-looking statements under applicable securities laws. In particular, statements as to the Corporation's anticipated Meeting are forward-looking statements. These forward looking-statements are based upon various assumptions. The Corporation's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the plans, intentions or expectations anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefit the Corporation will derive there from. All subsequent forward-looking statements, whether written or oral, attributable to the Corporation or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Corporation does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

Not for distribution to U.S. Newswire Services or for dissemination in the United States of America. Any failure to comply with this restriction may constitute a violation of U.S. Securities Laws.

Neither 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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