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Black Pearl Minerals Consolidated Inc.: Black Pearl Announces Private Placement

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^{Published in Business and Finance on Monday, December 8th 2008 at 11:42 GMT by Market Wire}  

TORONTO, ONTARIO--(Marketwire - Dec. 8, 2008) - Black Pearl Minerals Consolidated Inc. (TSX VENTURE:BLK) is pleased to announce a proposed non-brokered private placement of (i) up to 15,000,000 flow-through shares at a price of $0.10 with up to 7,500,000 warrants attached exercisable at a price of $0.25 per share for a period of two years; and (ii) up to 18,750,000 common shares at a price of $0.08 with up to 9,375,000 warrants attached exercisable at a price of $0.15 per share for a period of two years. Black Pearl will pay a commission equal to 7% of the gross proceeds of the offering and will issue broker warrants entitling the holder thereof to acquire common shares equal to 7% of the number of flow-through shares and common shares sold, exercisable at a price of $0.15 per common share for a period of one year. The securities issued are subject to a four month hold period.

Shares Outstanding: 82,377,801.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.