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CALGARY, ALBERTA--(Marketwire - Nov. 12, 2009) – BlackPearl Resources Inc.("BlackPearl" or the "Company") (TSX:PXX)(FIRST NORTH:PXXS) is pleased to announce its financial and operating results for the three and nine months ended September 30, 2009.

Highlights during the quarter included:

• Revenues of $24.1 million, a 9% increase over Q2.
• Cash flow from operations of $8.2 million.
• Strong balance sheet with $59.9 million in working capital and no debt.
• Initiated a 27 well drilling program at Onion Lake.
• Commenced road construction and completed the steam generator for the Blackrod SAGD pilot.
• Continued the successful polymer pilot at Mooney; 14% recovery to date.
• Reduced operating costs and administrative expenses.

John Festival, President of BlackPearl, commenting on 2009 activities indicated that "When the new management group joined BlackPearl we felt the Company required a more operational focus. Initially, our objective was to reduce operating costs and overhead expenses, strengthen the balance sheet and prepare development plans for our three core properties. We have now completed this phase of the restructuring and we are beginning the implementation phase. We have initiated a 27 well drilling program at Onion Lake, filed our application for a SAGD pilot at Blackrod and have advanced our plans for a polymer flood at Mooney. We believe those three projects have the potential of providing up to 50,000 boe/day of production over the next few years."

Commenting on third quarter results, Mr. Festival indicated that "Crude oil prices continued to recover during the third quarter; however, as a result of the economic downturn prices were still considerably lower than 2008. During Q3, we were able to increase cash flow as well as maintain production in the 5,000 barrel/day range with limited new capital activity."

Financial and Operating Highlights

(1) boe based on a conversion ratio of 6 mcf of gas to 1 barrel of oil. Boes may be misleading, particularly if used in isolation. A boe conversion ratio of 6 mcf: 1 barrel is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

The 2009 third quarter report to shareholders, including the financial statements, management's discussion and analysis and notes to the financial statements are available on the Company's website ([ www.blackpearlresources.ca ]) or SEDAR ([ www.sedar.com ]).

Forward-Looking Statements
Certain of the statements made and information contained herein is forward-looking statements and forward looking information (collectively referred to as "forward-looking statements") within the meaning of Canadian securities laws. All statements other than statements of historic fact are forward-looking statements. Forward-looking statements are typically identified by such words as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "potential", "targeting", "intend", "could", "might", "should", "believe" or similar words suggesting future events or future performance. In addition, statements relating to "reserves" or "resources" are deemed to be forward-looking statements as they involve the implied assessment, based on certain estimates and assumptions, that the reserves and resources described exist in the quantities predicted or estimated and can be profitably produced in the future. In particular, this document contains forward-looking statements pertaining to, and which rely on assumptions as to, without limitation, business plans and strategies, capital expenditure programs, operating costs, production levels and oil and gas prices.

Undue reliance should not be placed on forward-looking statements, which are inherently uncertain, are based on estimates and assumptions, and are subject to known and unknown risks and uncertainties (both general and specific) that contribute to the possibility that the future events or circumstances contemplated by the forward-looking statements will not occur. Although we believe that the expectations conveyed by the forward-looking statements are reasonable based on information available to us on the date such forward-looking statements were made, there can be no assurance that the plans, intentions or expectations upon which forward-looking statements are based will in fact be realized. Actual results will differ, and the difference may be material and adverse to the Corporation and its shareholders.

BlackPearl's Certified Advisor on First North is E. Öhman J:or Fondkommission AB.
Company Registration Number: 409596-1
The report for the year ending December 31, 2009 will be published on or before February 28, 2010.