Blackstone Ventures Inc.
TSX VENTURE : BLV

Blackstone Ventures Inc.

April 28, 2008 08:00 ET

Blackstone Acquires Norbotten Copper-Gold Project in World-Class Kiruna District, Sweden

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 28, 2008) - Blackstone Ventures Inc. (TSX VENTURE:BLV) announced today that it has been granted exploration licenses and 100% interest in the Norbotten Iron-Oxide-Copper-Gold (IOCG) property in the eastern part of the Kiruna district of northern Sweden. The property consists of three claim blocks totaling over 25,000 hectares covering several Cu-Au occurrences and major geological structures near the border of Finland.

Norbotten Claims

The Norbotten claims are located within 70 kilometres of Boliden's giant Aitik Cu-Au Mine (proven reserves at January 1, 2007 of 526 million tones @ 0.28% Cu, 0.2g/t Au, 2 g/t Ag) and cover the southern extension of the Kolari IOCG district in Finland. The claims host a number of Cu-Au showings where boulders with up to 5.14% Cu have been collected and surround a new discovery where assays up to 2.4% Cu, 0.47 g/t Au, and 38.5% Fe have been reported. The region is largely till-covered which has hampered historical exploration efforts and, according to data files at the Swedish Geological Survey, the claims have never been drill-tested. Maps of Norbotten claims can be found on the company's website at www.blv.ca.

CEO for Blackstone, Dean MacEachern comments, "The Swedish Geological Survey's annual prospecting 'boulder hunt' competition is an invaluable source of new data and directly led us to this new under-explored corner of Sweden. We are very excited about the Norbotten Cu-Au acquisition and are currently assessing what the work requirements will be to advance this newly discovered prospective area."

Kiruna IOCG District

The Kiruna district hosts two of the world's largest iron oxide and IOCG deposits; the Kiruna Fe-ore and the Aitik Cu-Au mines. The eastern extension of the Kiruna district in northern Finland is referred to locally as the Kolari district and hosts several past-producing IOCG deposits. The Kiruna district is one of only about a dozen major IOCG districts known globally. Other major IOCG deposits include Olympic Dam and Ernest Henry in Australia, Candelaria in Chile, and Salobo in Brazil.

Quality Control

Exploration programs are being carried out under the direction of Jari Paakki, P.Geo., Vice President of Exploration and Project Development for Blackstone and a qualified person as defined by National Instrument (NI) 43-101. The information in this release was prepared under the direction of Dean MacEachern, P.Geo., President and Chief Executive Officer for Blackstone, a qualified person as defined by National Instrument 43-101.

Blackstone

Blackstone is a mineral exploration company focused on nickel and other base metals. The Company currently has five drills operating on advanced nickel projects in both Sweden and Norway. Work programs are also scheduled at the high grade Cu-Zn-Pb Uma and Jervas discoveries in Sweden.

On behalf of Blackstone Ventures Inc.

Dean MacEachern, President

Caution Regarding Forward-Looking Statements - This news release contains certain forward-looking statements, including statements regarding the business and anticipated financial performance of the Company. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward looking statements, oral or written, made by itself or on its behalf.

To view the maps accompanying this release please click on the following link: http://media3.marketwire.com/docs/blvmaps.pdf

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Blackstone Ventures Inc.
    Troy Winsor
    1-800-663-8072
    or
    Blackstone Ventures Inc.
    Robert Carriere
    (604) 687-3929
    Website: www.blv.ca