Blackstone Ventures Updates Q3 Exploration Activities in Scandinavia

Blackstone Ventures Inc. (TSX VENTURE:BLV) is providing an update on its
Scandinavian projects including a new airborne geophysical survey at Uma
Volcanogenic Massive Sulphide (VMS) Cu-Zn-Pb-Au project and diamond drill
results at the Norbotten Cu-Au project.


Highlights

- Completed airborne EM and Magnetic survey covering a 20 kilometre by 5
kilometre area in southern portion of Uma Project in northwestern Sweden.
Numerous conductors associated with identified high grade massive sulphide
showings


- Assay result of 4.26% Cu and 1.88 gpt Au over 1.4 metres was returned in hole
NOR-001 at Norbotten Cu-Au Project in northeastern Sweden


Uma Cu-Zn Project:

Preliminary results have been received for a 750 line-kilometre airborne time
domain electromagnetic (EM) and magnetic survey covering a 20 x 5 kilometre area
in the southern part of the Uma project, "Uma South". The survey outlines
numerous new EM targets including conductors extending along strike of
high-grade massive sulphide surface showings. Drilling by Boliden in the
1950/60's in the immediate area of three surface showings includes up to 10.1%
Cu, 21.7% Zn, 8.2% Pb and 12 gpt Au over 0.82 metres. A map showing the location
of the airborne survey and outlined targets for drill testing and location of
high grade showings is appended to this release.


"Although we are still attempting to begin an initial helicopter supported
program of diamond drilling on the Suitcase and Uma#1 Cu-Zn-Pb-Au showings in
the northern part of the Uma Project, local weather conditions and diminishing
day light hours are hampering our efforts. Drilling logistics are somewhat
easier in the southern Uma area. With the completion of this airborne survey we
now know we have similar high grade Cu-Zn-Pb-Au showings which also have a
corresponding geophysical response. A total of 11 high priority targets have
been selected for drill testing. The targets in south Uma will be much more
accessible for drilling during the fall and winter months" commented Dean
MacEachern, CEO and President.


Blackstone's 235,000 hectare Uma project covers boulders and outcrops of
high-grade massive sulphide mineralization extending over a distance of 70
kilometres. This includes Uma South, as well as Cu-rich boulders in the central
claims and recently uncovered outcrops and boulders assaying as high as 6.64%
Cu, 20.9% Zn, 16.75% Pb, 87gpt Ag and 0.54 gpt Au with new, untested EM
conductors in the northern part of the project. Drilling is being scheduled with
input from local Saami villages and the Swedish Mining Inspectorate.


Norbotten Cu-Au Project:

Assays results from 7 diamond drill holes totaling 895 metres completed last
month at its Norbotten Iron Oxide-Copper-Gold (IOCG) project in northeast Sweden
have been received. A zone of strong potassic alteration was intersected which
contained narrow zones of anomalous copper- gold mineralization. The 7 drill
holes were completed over a 3 kilometre long identified Induced Polarization
anomaly (IP) in order to determine if any portions of the IP anomaly contained
significant copper-gold mineralization. Holes NOR-001 and NOR-007 were drilled
on the northeastern portion of the defined anomaly and returned the best assay
values over narrow drill core intervals. The best result of 4.26% Cu and 1.88
gpt Au over 1.4 metres was returned in hole NOR-001 at a drill depth of 158.8
metres. Hole NOR-007 intersected 1.5m of 0.55 gpt Au at a depth of 38 metres and
0.46% Cu and 0.28 gpt Au over 3 metres at a depth of 150.5 metres. Assay results
of the more anomalous mineralization is tabled below along with associated
alteration which is characteristic and important at all IOCG deposits in the
region. No other holes returned any significant assay values.




------------------------------------------------------------------------
Hole #    Cu %   Au g/t     metres   Alteration Zone
------------------------------------------------------------------------
------------------------------------------------------------------------
NOR-001   4.26     1.88       1.40   80m: Kf, Bi, Sc, Ht, Py, Mt, Cp, To
NOR-007   0.09     0.55       1.50   50m: Ht, Kf, Mt, Bi, To, Py, Cp
 and      0.46     0.28       3.00
------------------------------------------------------------------------
Abbreviations: Kf equals K Feldspar, Bi equals Biotite, Sc equals
               Scapolite, Ht equals Hematite, Py equals Pyrite, Mt
               equals Magnetite, Cp equals Chalcopyrite, To equals
               Tourmaline
------------------------------------------------------------------------



MacEachern stated "Mineralization and alteration intersected from this phase of
drilling suggests that the Norbotten project has some merit to host an IOCG type
of deposit. A northeast trending structural zone was identified from a review of
the regional magnetic survey and has now been verified in the recent diamond
drilling. IOCG type deposits typically form in association with large scale
regional structures in zones of strong iron oxide and potassic alteration.
Blackstone controls approximately 30 kilometres of this structure. To date
Blackstone has explored less than 10% of its land holdings at Norbotten and is
currently prioritizing its exploration efforts."


Norbotten is a newly discovered IOCG prospect located in the eastern part of the
world-class Kiruna Iron-Ore district of northern Sweden. The project area is
within 70 kilometres of Boliden's Aitik Cu-Au Mine (proven reserves at January
1, 2007 of 526 million tonnes @ 0.28% Cu, 0.2gpt Au, 2gpt Ag) and covers the
southern extension of the Kolari IOCG district of Finland. This is the first
ever diamond drill program in the area which remains highly under-explored.


Exploration programs are being carried out under the direction of Jari Paakki,
P. Geo., Vice President of Exploration and Project Development for Blackstone
and a qualified person as defined by National Instrument (NI) 43-101. The
information in this release was prepared under the direction of Dean MacEachern,
P.Geo., President and Chief Executive Officer for Blackstone, a qualified person
as defined by NI 43-101.


About Blackstone

Blackstone is a mineral exploration company focused on base and precious metals
in Scandinavia. Blackstone's primary assets are extensive nickel-copper holdings
in Sweden and Norway including six deposits with current NI 43-101-compliant
resources.


To view the maps accompanying this release please click on the following link:
http://media3.marketwire.com/docs/blv1019.pdf.


On behalf of Blackstone Ventures Inc.

Dean MacEachern, President

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.
Blackstone Ventures Inc. (TSXV:BLV)
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