Brownstone Ventures Inc.
TSX VENTURE : BWN

Brownstone Ventures Inc.

October 25, 2006 07:00 ET

Brownstone Enters Into Oil & Gas Participation Agreement with Savant Resources LLC

TORONTO, ONTARIO--(CCNMatthews - Oct. 25, 2006) - Brownstone Ventures Inc. ("Brownstone")(TSX VENTURE:BWN) announced today that it has entered into a participation agreement with Savant Resources LLC ("Savant"), a private limited liability company based in Colorado, to purchase a 2% participating interest in leases covering 366,973 net acres in the Columbia River Basin, Oregon. Savant owns rights and interests in and to an undivided 75% interest in the leasehold estates (the "Leases") which run for 10 years, making Brownstone's net undivided interest 1.5%. Brownstone will acquire the interest for US$1,666,667. Brownstone and Savant will also enter into an area of mutual interest agreement expiring on June 30, 2009, covering the area surrounding the Columbia River Basin project.

The Columbia River Basin is currently experiencing significant activity on three planned 14,000' wells, the EnCana Anderville Farms, Inc. #1 and the EnCana Anderson #11-5 as well as the upcoming EnCana Brown #7-24 located in Grant and Yakima Counties, Washington. These wells represent a significant industry commitment to establish commercial natural gas production in the expanding Pacific Northwest and West Coast energy markets.


About Brownstone - Brownstone Ventures Inc. ("Brownstone") is a Canadian based, energy focused investment company with direct interests in oil & gas projects and equity investments in uranium (through its holdings in Mega Uranium Ltd.) For additional information, please see Brownstone's website: www.brownstoneventures.com.

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

Contact Information