BEY Blacksteel Energy Inc

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES

Blacksteel Energy Inc. (TSX VENTURE:BEY) ("Blacksteel" or the "Corporation") is
pleased to announce that it has entered into a farm-in agreement (the
"Agreement") with an industry partner to participate in the drilling of
horizontal wells in the Cardium oil formation in the Buck Lake area of Alberta.


The Agreement provides for the earning of a 25.0% working interest in 1280 acres
of land by paying 37.5% of the cost to drill, complete and equip the first two
wells. The first well will earn a 25% working interest in 320 acres of the land,
and the second (Option Well) will earn the balance of the 1280 acres. All
subsequent wells will be drilled with Blacksteel paying 25% of the costs for a
25% working interest in the land. Current well spacing provides for up to four
wells per section in the Cardium zone in this field.


It is contemplated that subject to rig availability, surface access and
regulatory approval, the first well will be drilled on or before August 30,
2013. The Corporation intends to fund its share of expenditures for the test
well from its private placement, as announced in the press releases of April 18,
2013 and May 1, 2013.


Blacksteel is very encouraged with the potential of this opportunity given the
off-setting well results and the multiple drilling locations which would form a
platform of growth to build value in the Corporation. This transaction
represents the focus of Blacksteel on the acquisition of low risk, oil weighted
opportunities having early payback of capital and long life reserves.


Blacksteel is a junior oil and gas company involved in the exploration,
exploitation, development and production of petroleum and natural gas resources.
The Corporation has a 100% working interest in a four section petroleum and
natural gas lease in the Del Bonita Area of Southern Alberta. It also has a 25%
working interest in one section of land in the Crossfield area, which the
Corporation believes is oil prospective in the Elkton formation, and varying
working interests of 22% - 37.5% in 1840 acres of Crown land in the Devon area
of Alberta.


Forward-Looking Information Cautionary Statement: This document contains
forward-looking statements regarding the business and operations of Blacksteel.
All statements other than statements of historical fact contained herein are
forward-looking statements under applicable securities laws. In particular,
statements as to the Corporation's anticipated transactions are forward-looking
statements. These forward looking-statements are based upon various assumptions.
The Corporation's actual results, performance or achievements could differ
materially from those expressed in, or implied by, these forward-looking
statements and, accordingly, no assurances can be given that any of the plans,
intentions or expectations anticipated by the forward-looking statements will
transpire or occur, or if any of them do so, what benefit the Corporation will
derive there from. All subsequent forward-looking statements, whether written or
oral, attributable to the Corporation or persons acting on its behalf are
expressly qualified in their entirety by these cautionary statements.
Furthermore, the forward-looking statements contained in this news release are
made as at the date of this news release and the Corporation does not undertake
any obligation to update publicly or to revise any of the included
forward-looking statements, whether as a result of new information, future
events or otherwise, except as may be required by applicable securities laws.


Not for distribution to U.S. Newswire Services or for dissemination in the
United States of America. Any failure to comply with this restriction may
constitute a violation of U.S. Securities Laws.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Blacksteel Energy Inc.
Curtis Hartzler
President and Chief Executive Officer
(403) 453-0060
Curtis.hartzler@blacksteelenergy.com

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