Blackstone Ventures Inc.
TSX VENTURE : BLV

Blackstone Ventures Inc.

May 15, 2008 08:00 ET

Blackstone Reports Drill Results from Espedalen Nickel Targets in Norway

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 15, 2008) - Blackstone Ventures Inc. (TSX VENTURE:BLV) is pleased to announce new assay results for diamond drilling completed at the Espedalen project in Norway. Results include high-grade massive sulphide mineralization grading 3.27% Ni and 1.25% Cu over 1.82 metres and intersections up to 117.4 metres grading 0.31% Ni.

Espedalen Nickel Project

The Espedalen project hosts 12 past producing nickel sulphide mines and 24 nickel sulphide occurrences including the Stormyra deposit, a recent high-grade nickel sulphide discovery. A map showing the Espedalen project area can be viewed by clicking on the following link: http://media3.marketwire.com/docs/blv_Espedalen_Project.jpg.

Recent Drill Results

At Stormyra, in-fill drilling continued to confirm grade and continuity of this high-grade nickel deposit. The known zone of mineralization at Stormyra has a strike length of more than 1,000 metres. Similar high-grade nickel mineralization was also cut at the Trona target.

At Megrund, drill hole 101 intersected a long core length of nickeliferous ultramafics averaging 0.31% Ni and 0.12% Cu over 117.4 metres starting at down-hole depth of 35.5 metres. The true thickness of this zone is not known at this time. Additional drilling will be completed on this horizon in the next quarter of 2008.

The following table highlights new assay results from mineralized intervals at three Espedalen nickel targets (see also assay results previously reported in a press release dated January 24, 2008).



Hole No. From To Length (m) Ni% Cu% Co% Target
--------------------------------------------------------------------
ES07-101 35.50 152.9 117.40 0.31 0.12 0.01 Megrund
includes 50.5 66.50 16.0 0.42 0.17 0.02
and 89.0 152.9 63.9 0.36 0.14 0.02
includes 104.0 123.0 19.0 0.47 0.18 0.02
--------------------------------------------------------------------
ES07-105 155.00 156.03 1.03 3.76 0.26 0.23 Trona
--------------------------------------------------------------------
ES07-120 54.22 56.04 1.82 3.27 1.25 0.11 Stormyra
includes 54.83 56.04 1.21 4.00 1.22 0.13
--------------------------------------------------------------------
ES07-121 63.75 64.06 0.31 2.12 0.89 0.07 Stormyra
--------------------------------------------------------------------
ES07-122 87.17 94.67 7.5 0.41 0.37 0.02 Stormyra
includes 87.17 87.48 0.31 3.75 0.98 0.12
--------------------------------------------------------------------
ES07-123 51.60 53.30 1.70 0.74 0.29 0.03 Stormyra
--------------------------------------------------------------------
ES07-125 63.58 66.05 2.47 1.20 0.61 0.04 Stormyra
--------------------------------------------------------------------
ES07-126 99.50 110.75 11.55 0.66 0.91 0.07 Stormyra
includes 99.50 102.00 2.50 1.98 1.14 0.08
includes 99.50 99.85 0.35 4.99 1.14 0.16
--------------------------------------------------------------------
ES07-128 64.40 66.80 2.40 1.19 0.58 0.04 Stormyra
--------------------------------------------------------------------


CEO for Blackstone, Dean MacEachern comments, "Results at the Espedalen project continue to demonstrate the presence of both high-grade and near-surface bulk tonnage nickel mineralization. Previous work targeted massive sulphides, and largely overlooked bulk tonnage targets including Megrund, and the newly recognized Dalen target (PR April 9, 2008). We are very excited about these new targets and look forward to advancing them in 2008."

Continuing Exploration

Blackstone plans to outline a preliminary NI 43-101 resource at Stormyra and complete additional priority drill testing at the Megrund and Dalen targets.

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. In addition to the Espedalen project, the Company is aggressively exploring the Ertelia project in southern Norway and the Lappvattnet and Ror nickel targets in Sweden. Work programs are also scheduled at the high grade Cu-Zn-Pb Uma and Jervas discoveries, and the newly acquired Norbotten Cu-Au project in Sweden.

On behalf of Blackstone Ventures Inc.

Dean MacEachern, President

Contact Information

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