BLR Blackhawk Resource Corp

Blackhawk Resource Corp. ("Blackhawk" or the "Corporation") (TSX VENTURE:BLR) is
pleased to announce its financial results for the quarter ended March 31, 2014,
and to provide and update on its investment strategy. 


HIGHLIGHTS



--  On March 3, 2014, Blackhawk received conditional approval to become an
    Investment Issuer 
    
--  In the three months ended March 31, 2014, Blackhawk had positive cash
    flow from operations of $103,000 and in the nine months ended March 31,
    2014 it had positive cash flow of $228,000 
    
--  As at March 31, 2014, Blackhawk held cash and investments at fair value
    totalling $3,600,000 
    
--  As at March 31, 2014, net asset value per share ("NAV per share") was
    $0.14 (See "Use of Non-GAAP or Non-IFRS Financial Measures" below) 



On February 18, 2014, Blackhawk announced it will be pursuing a change in
business. After a thorough evaluation of the Corporation's existing resources
and a review of strategic options for the Corporation generally, the Corporation
determined that to optimize shareholder value, it would refocus its business
operations from an "oil and gas issuer" to an "investment issuer". Blackhawk
believes that its network of business contacts, the depth of experience of its
management team and its overall entrepreneurial approach will enable it to
identify and capitalize upon investment opportunities as an "investment issuer".



On March 3, 2014, Blackhawk received conditional approval of the proposed change
of business; the Corporation's primary focus will be to seek returns through
investments in the equity and debt instruments of other companies and other
assets.


Since receiving conditional approval the Corporation has begun to both evaluate
investment opportunities and has made a number of investments to date. The broad
investment strategy of the Corporation relies on the expertise of the management
and board, to source and evaluate investment opportunities that will provide
above average returns. The goal of this strategy is to develop a portfolio of
investments that will continue to provide positive cash flow, including equity,
debt instruments and direct asset investments, in certain situations. The
Corporation is not intending to be industry specific, but will review investment
opportunities on the basis of the return and risk profile. In time Blackhawk
hopes to be able to distribute a portion of these earnings back to its
shareholders through a sustainable dividend.


OVERALL PERFORMACE

Blackhawk intends to invest in each of equity, debt instruments and direct asset
investments as part of its focus as an investment issuer. Since receiving
conditional approval the Corporation has begun to invest its capital under this
mandate.


As at March 31, 2014 Blackhawk has made four investments: one equity position,
two loan positions and its direct investment in the oil and gas operations. The
investments are in varied industries, including construction, industrial real
estate, and oil and gas.


The Corporation earned total income of $314,280 for the three month period ended
March 31, 2014 compared with $165,261 for the three month period ended March 31,
2013. Net cash earned in operating activities before non-cash operating working
capital items was $103,257 (0.01 per share) for the three month period ended
March 31, 2014. 


Since March 31, 2014, the Corporation has expanded its investments, to the
extent that it now has allocated more than $2,300,000, of its approximately
$3,600,000 of investable capital, to active investments. The investments have
shown positive returns to date and all returns have been added to the investable
capital.


CURRENT INVESTMENTS

As at April 30, 2014, the Corporation held investments at fair value totaling
$1,533,000 as compared to $550,000 as at March 31, 2014. The Corporation
continues to look for opportunistic investments with potential growth. The
investments have been in a number of sectors as seen in the table below.




----------------------------------------------------------------------------
                                                                            
                                 -------------------------------------------
Sector                                   Cost  Total fair value  Gain/(Loss)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Construction and Real Estate       $  550,000  $        597,505  $    47,505
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Infrastructure                     $  249,923  $        255,941  $     6,018
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Oil and Gas Producers              $  299,930  $        308,278  $     8,348
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Mining                             $   45,000  $         53,595  $     8,595
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Technology                         $  100,000  $        120,000  $    20,000
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Oil and Gas Properties             $  245,595  $        245,595            -
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Cash and Deposits                  $2,079,388  $      2,079,388            -
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
Total                              $3,569,836  $      3,660,302  $    90,466
----------------------------------------------------------------------------
----------------------------------------------------------------------------



As at April 30, 2014, NAV per share was $0.15 as compared to $0.14 at March 31,
2014. 


Since receipt of conditional approval to become an investment issuer Blackhawk
has earned net cash from operation in excess of $150,000, based on investable
capital of $3,600,000. The Corporation's strategy is focused on investing in
multiple companies across a variety of sectors across North America. Blackhawk
strives to continue to increase its investable capital and its growth by
investing in equity and debt instruments of companies and generating positive
returns for shareholders. 


Additional information is available on our website at www.blackhawkcorp.ca,
included there is an updated corporate presentation.


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.


NON-GAAP OR NON IFRS FINANCIAL MEASURES

This press release includes references to "net asset value per share ("NAV per
share")," a financial measure, that does not have a standardized meaning
prescribed by generally accepted accounting principles (GAAP) or International
IFRS. NAV per share is calculated as the value of total assets less the value of
total liabilities divided by the total number of common shares outstanding as at
a specific date. Investors are cautioned that this non-GAAP measure should not
be construed as an alternative to the measurement calculated in accordance with
IFRS as, given its non-standardized meaning; it is unlikely to be comparable to
similar measures presented by other issuers.


Forward-Looking Statements

This news release contains forward-looking statements as defined under
applicable securities laws. Statements other than statements of historical fact
contained in this news release may be forward-looking statements under
applicable securities legislation, including, without limitation, management's
expectations. Many of these statements can be identified by looking for words
such as "believe", "expects", "will", "intends", "projects", "anticipates",
"estimates", "continues" or similar words or the negative thereof. To the extent
any forward-looking statements herein constitute a financial outlook, including,
without limitation, the estimated effect on the Corporation's revenues, they
were approved by management as of the date hereof and have been included to
assist readers in understanding management's current expectations regarding the
Corporation's financial performance and are subject to the same risks and
assumptions disclosed herein. There can be no assurance that the plans,
intentions or expectations upon which these forward-looking statements are based
will occur.


Statements containing forward-looking information by their nature involve
numerous assumptions and significant known and unknown facts and uncertainties
of both a general and a specific nature. 


The forward-looking statements contained herein are subject to numerous known
and unknown risks that may cause actual results to vary from those set forth in
the forward-looking statements, including, but not limited to risks associated
with: general economic conditions and changes in the financial markets; risks
associated with investment Corporation businesses; a material change in the
operations of an investment Corporation or the industries in which they operate;
and key assumptions.


As forward-looking statements are subject to risks, uncertainties and
assumptions and should not be read as guarantees or assurances of future
performance. Accordingly, readers are cautioned not to place undue reliance on
any forward-looking information contained in this news release as a number of
factors could cause actual future results, conditions, actions or events to
differ materially from the targets, expectations, estimates or intentions
expressed in the forward-looking statements. Statements containing
forward-looking information reflect management's current beliefs and assumptions
based on information in its possession on the date of this news release.
Although management believes that the assumptions reflected in the
forward-looking statements contained herein are reasonable, there can be no
assurance that such expectations will prove to be correct.


The forward-looking statements contained herein are expressly qualified in their
entirety by this cautionary statement. The forward-looking statements included
in this news release are made as of the date of this news release and the
Corporation does not undertake or assume any obligation to update or revise such
statements to reflect new events or circumstances except as expressly required
by applicable securities legislation.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Blackhawk Resource Corp.
Dave Antony
CEO
(403) 531-1710
dantony@blackhawkcorp.ca
www.blackhawkcorp.ca

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