Lorito Holdings S.a.r.l. and Zebra Holdings and Investments S.a.r.l. Acquire Shares of BlackPearl Resources Inc.

LUXEMBOURG, LUXEMBOURG--(Marketwired - July 10, 2014) - Lorito Holdings S.à.r.l. ("Lorito") and Zebra Holdings and Investments S.à.r.l. ("Zebra"), two companies controlled by a trust settled by the late Adolf H. Lundin, announced today that Zebra had acquired ownership of 1,596,700 common shares of BlackPearl Resources Inc. (TSX:PXX)(OMX:PXXS) ("BlackPearl") in consideration of approximately Cdn$2.2497 per common share by way of purchases in the open market. As a result of these acquisitions, Lorito and Zebra hold 11,636,443 and 23,442,942 common shares respectively of BlackPearl representing 3.47% and 6.98% respectively of the issued capital of BlackPearl.

Lorito and Zebra are joint actors with respect to their holdings in BlackPearl and have acquired the shares for investment purposes. Each of Lorito and Zebra may from time to time increase or decrease their investment in BlackPearl depending upon the business and prospects of BlackPearl and depending upon future market conditions.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.