PIT

NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION
IN THE UNITED STATES. 


Pitchblack Resources Ltd. (TSX VENTURE:PIT) ("Pitchblack" or the "Company") has
successfully completed a non-brokered private placement financing to raise
$1,100,000 (the "Offering") through the issuance of 11,000,000 units (the
"Units") priced at $0.10 per Unit. Each Unit consisted of one common share in
the capital of the Company (a "Common Share") and one common share purchase
warrant (a "Warrant"). Each Warrant entitles the holder thereof to acquire one
common share of the Company at an exercise price of $0.20 until March 21, 2015.
The Company intends to use the net proceeds from the Offering for completion of
the Crocodile Gold Acquisition and for general corporate purposes.


Pitchblack is also pleased to report that the previously announced acquisition
(the "Acquisition") of a 90% interest in certain mineral properties located in
Northern Territory, Australia (the "Properties") from Crocodile Gold Corp.
("Crocodile Gold") pursuant to a binding letter of intent (the "LOI") dated
December 17, 2012 has been amended. Pitchblack and Crocodile Gold have agreed to
amend the cash consideration component of the Acquisition into the following
payments: (i) $50,000 deposit which was paid upon execution of the LOI (ii)
$250,000 due on the signing of the definitive agreement; and (iii) a final
payment of $200,000 by December 1, 2013. Expenditure commitments as set out in
the LOI remain unchanged. The Acquisition remains subject to regulatory
approval, including approval of the TSX Venture Exchange. 


The Company also announces that an officer of the Company has been granted
1,100,000 options to acquire such number of common shares at an exercise price
of $0.11, expiring five years from the date of grant. The options shall vest
immediately, subject to the four month regulatory hold period. The grant of
options is subject to regulatory approval, including approval of the TSX Venture
Exchange. 


For further information please refer to the Company website at
www.pitchblackresources.com.


About Pitchblack Resources Ltd.

Pitchblack is currently working on the proposed acquisition of precious metal
enriched base metal assets located in Australia. The Company has uranium, coal
and gold assets in the Yukon Territory, Canada. 


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 completion of the Acquisition, receipt
of regulatory approvals, and intended use of proceeds from the Offering.
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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Pitchblack Resources Ltd.
John Taggart
President and Chief Executive Officer
416-309-2690
jtaggart@pitchblackresources.com
www.pitchblackresources.com

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