Blackstone Closes $715,000 Private Placement

Blackstone Ventures Inc. (TSX VENTURE:BLV) ("Blackstone" or the "Company") is
pleased to announce that it has closed the private placement with Cliffs Natural
Resources Inc. previously announced on December 14, 2010. 


The Company issued 11,916,666 common shares at a price of $0.06 per share for
total gross proceeds of $715,000. All of the common shares issued are subject to
a four month hold period which expires on April 17, 2011. 


The net proceeds of the private placement will be used to fund Scandinavian
property payments and for general working capital.


For further information on Blackstone please visit the Blackstone website at
www.blv.ca.


On behalf of Blackstone Ventures Inc.

Donald McInnes, Chairman 

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.