BLV

Blackstone Ventures Inc. (TSX VENTURE:BLV) announces that Blackstone and Thomas
Mining Developments Ltd. (TMD) have signed a Letter of Intent (LOI) whereby TMD
can earn up to a 75% interest in Blackstone's Norbotten iron-oxide-copper-gold
(IOCG) project located in northern Sweden.


Under the terms of the agreement TMD can earn a 55% interest in the project by
completing $5,000,000 in expenditures within four years of signing a definitive
agreement. Upon completion of these expenditures a joint venture would be formed
between TMD and Blackstone. TMD will have the option to increase its interest in
the project to 65% by sole funding the cost of a pre-feasibility study. TMD will
have an additional option to increase its interest to 75% by sole funding the
cost of a bankable feasibility study. TMD is a private company which identifies
and explores for high quality exploration projects worldwide for Cliffs Natural
Resources.


Additionally Blackstone wishes to report that it has entered into an agreement
with Cliffs Natural Resources Inc. (Cliffs) for a private placement of up to
11,916,666 common shares at a price of 6 cents per share for total gross
proceeds of up to approximately $715,000. Upon closing of the private placement
Cliffs will own 9.9% of the issued and outstanding shares in Blackstone. Cliffs
(NYSE:CLF)(Paris:CLF) is an international mining and natural resources company.
A member of the S&P 500 Index, Cliffs is the largest producer of iron ore
pellets in North America, a major supplier of direct-shipping lump and fines
iron ore out of Australia and a significant producer of metallurgical coal.


About the Norbotten Iron Oxide-Copper-Gold (IOCG) Project

The project is located just 70 kilometres east of the giant Kiruna Iron Ore
mines (greater than 3 billion tonnes of production and resources) and Boliden's
giant Aitik Cu-Au Mine (proven reserves at January 1, 2007 of 526 million tonnes
@ 0.28% Cu, 0.2g/t Au, 2 g/t Ag) in northeastern Sweden. The Aitik Cu-Au mine is
one of the largest copper producers in Europe having produced 173,000 tonnes of
copper in 2008. In 2009 Blackstone completed seven diamond drill holes totaling
895 metres in which the company identified IOCG alteration and copper
mineralization in a highly under-explored area of the world-class Kiruna
District. 


Drill holes cut disseminated pyrite, lesser disseminated and veined chalcopyrite
and magnetite hosted by strong K-Feldspar altered rocks with surrounding
muscovite-biotite-scapolite-hematite alteration. Alteration zones intersected in
these drill holes ranged from core lengths of less than 20 to 80 metres. The
best result of 4.26% Cu and 1.88 gpt Au over 1.4 metres was returned in hole
NOR-001. A northeast trending structural zone has been identified from a review
of the regional magnetic survey and has been verified in diamond drilling. IOCG
type deposits typically form in association with large scale regional structures
in zones of strong iron oxide and potassic alteration. The Company holds close
to 30 kilometres of the Kolari Trend (eastern part of the Kiruna District) host
to IOCG deposits in Finland. The Aitik deposit and the Kolari district deposits
in Finland display similar alteration associated with copper mineralization. To
date Blackstone has explored less than 10% of its land holdings at Norbotten.


The company also announces the resignation of Jari Paakki as Vice President of
Exploration. The company would like to thank Jari for his contributions in
generating the company's Scandinavian projects and wish him well in his future
endeavours. 


On behalf of Blackstone Ventures Inc.

Donald McInnes, Chairman

Caution Regarding Forward-Looking Statements - This news release contains
certain forward-looking statements, including statements regarding the business
and anticipated financial performance of the Company. These statements are
subject to a number of risks and uncertainties. Actual results may differ
materially from results contemplated by the forward-looking statements. When
relying on forward-looking statements to make decisions, investors and others
should carefully consider the foregoing factors and other uncertainties and
should not place undue reliance on such forward-looking statements. The Company
does not undertake to update any forward looking statements, oral or written,
made by itself or on its behalf.

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