Pitchblack Resources Ltd.
TSX VENTURE : PIT.H
NEX BOARD : PIT.H

August 19, 2015 17:10 ET

Pitchblack Announces Shares for Debt Settlement

TORONTO, ONTARIO--(Marketwired - Aug. 19, 2015) - Pitchblack Resources Ltd. (NEX:PIT.H) ("Pitchblack" or the "Company") has entered into agreements to satisfy outstanding debt obligations of $656,000 through the issuance of 13,120,000 common shares of the Company (the "Shares") at a deemed price of $0.05 per Share. The debt consists of fees incurred in relation to consulting fees and administrative services fees. The issuance of the Shares is subject to the approval of the TSX Venture Exchange. In accordance with applicable securities laws, the Shares will be subject to a hold period of four months and one day from the date of completion of the debt settlement.

About Pitchblack Resources Ltd.

Pitchblack has uranium, coal and gold assets in the Yukon Territory, Canada. The Company is currently reviewing the potential of these properties.

Forward-Looking Information

This press release contains "forward-looking information" within the meaning of applicable securities legislation. Forward-looking information includes, but is not limited to, statements regarding ability to close the shares for debt settlement and receipt of regulatory approval. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, political and social uncertainties and risks of the mining industry. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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.

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