Blackstone Ventures Inc. (TSX VENTURE:BLV) announces that a diamond drill rig
has now been mobilized to its 100% owned Norbotten Iron Oxide-Copper-Gold (IOCG)
project in northern Sweden and will begin drilling immediately. The drill will
begin testing the Induced Polarization (IP) chargeability anomaly that was
recently outlined in the vicinity of the Vesa copper gold showing and reported
in a press release dated July 28, 2009.


Results from the IP survey indicate there are two well developed IP
chargeability anomalies which have been outlined. The first anomaly extends for
a minimum of 1,400 metres and is coincident with the recently discovered Vesa
copper gold showing. Blackstone assays from this showing returned 2.4% Cu, 0.63
g/t Au, and 36.9% Fe. Diamond drilling will begin on this anomaly with the first
two holes to be drilled under the Vesa showing. This next phase work of will
comprise 750 to 1,000 metres of drilling to be completed in 5 to 7 drill holes.


The second anomaly is located to the northwest of the Vesa showing and may
represent a northerly faulted extension of the anomaly associated with the Vesa
showing. This second anomaly is at least 1,600 metres in strike length. Both
anomalies are open to extension along strike.


The Norbotten project area is almost entirely till-covered which has hampered
historical exploration efforts. The project has not been drill-tested. The
project is located in the eastern part of the world-class Kiruna district of
northern Sweden just 70 kilometres east of Boliden's giant Aitik Cu-Au Mine
(proven reserves at January 1, 2007 of 526 million tonnes @ 0.28% Cu, 0.2 g/t
Au, 2 g/t Ag). The Aitik Cu-Au mine is one of the largest copper producers in
Europe having produced 173,000 tonnes of copper in 2008. The deposit also
contains significant gold and silver byproducts.


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 currently focused on base and
precious metals in Scandinavia. In addition to the Norbotten project, the
Company plans exploration programs at the high grade Cu-Zn-Pb Uma discovery in
northwestern Sweden. Blackstone's primary assets are extensive nickel-copper
holdings in Sweden and Norway including six deposits with current NI
43-101-compliant resources.


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.


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