Brownstone Ventures Inc.

Brownstone Ventures Inc.

January 29, 2008 16:42 ET

Brownstone Ventures Inc. Announces Normal Course Issuer Bid

TORONTO, ONTARIO--(Marketwire - Jan. 29, 2008) - Brownstone Ventures Inc. ("Brownstone") (TSX VENTURE:BWN) announces its intention to make a normal course issuer bid (the "Bid") through the facilities of the TSX Venture Exchange (the "TSX-V"), and purchase up to 2,565,155 of its common shares, representing 5% of the common shares outstanding as at January 21, 2008.

The Bid will commence on February 4, 2008 and end on February 3, 2009. Purchases of common shares under the Bid will be made on Brownstone's behalf by GMP Securities, at market prices and otherwise in accordance with the policies of the TSX-V. All common shares purchased under the Bid will be cancelled.

Brownstone believes that, at current market prices (and at certain times throughout the duration of the Bid), the purchase of its common shares will contribute to enhancing shareholder value.

Brownstone has not purchased any of its common shares during the previous twelve months.

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 almost 300,000 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:

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.

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

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