Blue Pearl Mining Ltd.

Blue Pearl Mining Ltd.

October 13, 2005 16:14 ET

Blue Pearl Shares Accepted for Trading on Toronto Stock Exchange

TORONTO, ONTARIO--(CCNMatthews - Oct. 13, 2005) - Blue Pearl Mining Ltd. (TSX VENTURE:BLE)(TSX VENTURE:BLE.WT) is pleased to announce that its common shares and common share purchase warrants have been accepted for listing on the Toronto Stock Exchange ("the TSX") under the ticker symbols "BLE" and "BLE.WT" and are expected to begin trading on the TSX on Monday, October 17, 2005. Blue Pearl currently has 43,069,382 shares outstanding (56,983,415 shares fully diluted) and 8,166,834 warrants outstanding that will be listed.

Blue Pearl Mining is a Canadian-based mining development company whose sole focus is on developing the Davidson molybdenum deposit located near Smithers, B.C. A feasibility study is currently underway on the project with the intention of being in production by mid-2007.

Based on a technical report compliant with National Instrument 43-101 and filed on SEDAR, and using a cut-off grade of 0.2% MoS2, the Davidson property is estimated to contain a measured and indicated mineral resource of 83.0 million tons grading 0.295% MoS2 representing 293.5 million pounds of molybdenum (please refer to the Company's Material Change Report dated Jan. 26, 2005, and Technical Report dated February 16, 2005 and filed on SEDAR on March 7, 2005). Gary Giroux, P. Eng., is the independent qualified person in accordance with National Instrument 43-101 and has read and approved this news release.

Shares outstanding: 43,069,382

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

Contact Information

  • Blue Pearl Mining Ltd.
    Ian McDonald
    Chairman & CEO
    (416) 860-1438, toll free: 1-800-827-0992
    Blue Pearl Mining Ltd.
    Jim Borland
    Investor Relations Director
    (416) 860-1438, toll free: 1-800-827-0992
    Renmark Financial Communications Inc.
    Christina Lalli
    (514) 939-3989