Pitchblack Announces Termination of Transaction With Crocodile Gold and Appointment of New President and CEO

Pitchblack Resources Ltd. (TSX VENTURE:PIT) ("Pitchblack" or the "Company") has
mutually agreed with Crocodile Gold Corp. to terminate the option agreement
whereby Pitchblack would have acquired a 90% interest in mineral tenements
located in the Northern Territory of Australia. The option agreement provided
for cash payments on closing and substantial spending over the next 24 months
that the Company does not believe would be in the best interests of shareholders
in today's challenging capital markets.


In addition, the Company welcomes Josh Van Deurzen as its President and Chief
Executive Officer and a member of the Company's Board of Directors. Mr. Van
Deurzen is a corporate and securities lawyer who has provided business and legal
consulting to various public and private companies in the resource-based
sectors. Mr. Van Deurzen holds a Master of Business Administration and a Juris
Doctor from the University of Toronto.


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 the appointment, the termination of the
option and the impact on the Company of these events. 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Scott Moore
Director
416-861-5903
smoore@forbesmanhattan.com

(TSXV:PIT)
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