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Share Name Share Symbol Market Type
Blackheath Resources Inc TSXV:BHR TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 0.195 0.30 0.30 0 00:00:00

Blackheath Acquires Option for Vale das Gatas Tungsten Project

27/11/2013 10:00am

Marketwired Canada


Blackheath Resources Inc. (TSX VENTURE:BHR)(FRANKFURT:04B) ("Blackheath" or the
"Company") is pleased to announce that the Company has entered into a definitive
agreement (the "Agreement") for an option to acquire a 100% interest in the Vale
das Gatas Tungsten Project. The acquisition is consistent with the Company's
goal of holding high-quality, past-producing tungsten mines with the potential
for development of significant additional tungsten resources in northern
Portugal. Exploration is underway, commencing with data compilation, mapping and
sampling on the property.


The Vale das Gatas mine was the second most prolific past producer of tungsten
in Portugal, after Borralha, also owned by Blackheath. The Vale das Gatas mine
closed in 1986 as a result of a significant decline in tungsten price. At its
peak, the mine employed over 1,000 workers and produced up to 635 tonnes of
tungsten concentrates annually. Ore was mined primarily from quartz veins
containing the tungsten mineral wolframite together with lesser amounts of the
tin mineral cassiterite. The average recovered grade of the mine was 0.35% WO3
(tungsten trioxide) per tonne. The Vale das Gatas mine is held in the Vila Verde
exploration concession which covers an area of 62 square kilometres located
about 100 kilometres east of Porto in northern Portugal.


At least twenty-four wolframite-bearing sub-vertical quartz veins have been
identified over some 550 metres. No drilling was ever undertaken on the property
and reports from miners who worked at Vale das Gatas until its closure have
reported that these veins were to be the next source of ore for the mine.
Initial work by Blackheath will focus on mapping and sampling of these veins as
well as general exploration in the surrounding area. To date, Blackheath has
identified approximately 300 old mine workings on the property.


Blackheath's President & CEO, James Robertson, said: "We are delighted to add
this historic tungsten producer to our portfolio under very favourable terms.
Initial work will commence immediately with a view to a diamond drill program
early next year."


Blackheath holds the option for Vila Verde from Mineralia - Minas, Geotecnia e
Construcoes, Lda. ("Mineralia") - through an exploration concession (the
"Concession") granted by the Government of Portugal. The Concession is granted
for a period of up to five years, after which it may be converted into a
preliminary exploitation licences and a final exploitation licence successively.
Under the Agreement, Blackheath will undertake to fulfill the terms of the
Concession, include a minimum exploration expenditure of EUR220,000 during the
first two years. Blackheath will also pay Mineralia EUR25,000 within six months
of execution of the Agreement, a further EUR100,000 upon the grant of a
preliminary exploitation licence and a further EUR1 million upon mine production
and the grant of a final exploitation licence, at which time Blackheath will
hold a 100% interest in the project.


About Blackheath:

Blackheath Resources Inc. is listed on the TSX Venture Exchange, and is focused
on tungsten exploration and development in Portugal. The Company holds the
Covas, Arga and Borralha tungsten projects and also the Bejanca tungsten/tin
project. Exploration is currently underway at all four projects and drilling
results are expected from Covas in the near future. Management of Blackheath has
previous experience in tungsten mining operations in Portugal through Primary
Metals Inc., the operator of the Panasqueira Tungsten Mine from 2003 to 2007.


Further information about the company's activities may be found at
www.blackheathresources.com and under the company's profile at www.sedar.com 


On behalf of the Board,

James Robertson, P. Eng., President & CEO

This news release was prepared by Company management, who take full
responsibility for its content. James Robertson, P.Eng. is a Qualified Person as
defined by National Instrument 43-101 of the Canadian Securities Administrators.
He has reviewed the technical disclosure in this release.


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: 
Blackheath Resources Inc.
Alexander Langer
604-684-3800
604-669-2744 (FAX)
info@blackheathresources.com
www.blackheathresources.com

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