Blackstone Signs Norbotten Option and Joint Venture Agreement

Blackstone Ventures Inc. (TSX VENTURE:BLV) ("Blackstone" or the "Company") is
pleased to announce that it has signed an option and joint venture agreement
(the "Norbotten Agreement") with Konnex Resources Inc. ("Konnex") whereby Konnex
can earn up to a 75% interest in Blackstone's Norbotten iron-oxide-copper-gold
(IOCG) project located in northern Sweden. (See also Blackstone News Release
dated December 14, 2010.)


Under the terms of the agreement Konnex can earn an initial 55% interest in the
project by completing $5,000,000 in expenditures within four years. Upon
completion of these expenditures a joint venture would be formed between Konnex
and Blackstone. Konnex will have the option to increase its interest in the
project to 65% by sole funding the cost of a prefeasibility study. Konnex will
have an additional option to increase its interest to 75% by sole funding the
cost of a bankable feasibility study. Konnex is a private company which
identifies and explores for high quality exploration projects worldwide for
Cliffs Natural Resources.


Exploration of the Norbotten project consisting of follow up geophysical and
geochemistry surveys is to begin shortly.


Annual General Meeting

Blackstone Ventures Inc. (TSX VENTURE:BLV) recently held its 2011 Annual General
Meeting ("AGM") in Vancouver. Resolutions passed at the meeting included the
re-appointment of Hay and Watson as auditors of Blackstone, approval of
Blackstone's incentive stock option plan, and the re-election of Donald McInnes,
John Greig, Tor Falck, and Donald Njegovan as Directors.


Dean MacEachern announced his retirement from the Board and has resigned as
President and CEO of the Company. Blackstone wishes to thank Mr. MacEachern for
his service to the company. Mr. Donald McInnes will assume the role of Interim
President and CEO until a replacement has been selected. Additionally,
subsequent to the annual general meeting, Mr. Don Njegovan has had to resign as
a Director and we thank him for his service to the Company.


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.