Brownstone Ventures Inc.
TSX VENTURE : BWN

Brownstone Ventures Inc.

August 21, 2007 09:44 ET

Brownstone Confirms Cash Resources Unaffected by Credit Market Uncertainties

TORONTO, ONTARIO--(Marketwire - Aug. 21, 2007) - Brownstone Ventures Inc. (TSX VENTURE:BWN) ("Brownstone") confirmed today that its cash resources in excess of $58 million are invested in corporate bonds, bankers acceptance notes and guaranteed investment certificates (GIC's) and are not exposed to repayment risks associated with the asset-backed commercial paper market.

"Brownstone has no long-term debt and our cash resources are liquid and secure," commented Sheldon Inwentash, Chairman and CEO of Brownstone Ventures. "We are well positioned to continue to participate as strategic partners in our oil and gas projects in Colorado/Utah, Oregon, India, Brazil and Argentina."

About Brownstone

Brownstone Ventures Inc. is a well-financed Canadian-based, energy focused investment company with direct interests in oil and gas exploration projects, including working interests in approximately 290,000 acres in the Piceance/Uinta Basins of Colorado and Utah, 295km2 in the Assam/Arakan Basin, Northeast India and 253,000 acres in Rio Negro, Argentina. For additional information, please see Brownstone's website: www.brownstoneventures.com.

Statements in this release that are forward-looking statements, including those in respect of the drilling program for the North Barcus Creek wells, are subject to various risks and uncertainties including the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Corporations' periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The corporation does not assume the obligation to update any forward-looking statement, except as required by law.

SHARES OUTSTANDING: 51,300,604

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

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