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First hole intersects 3.0% Cobalt and 44 g/t Gold at Little Gem

Blackstone Minerals Limited (“Blackstone” or the “Company”), is pleased to announce outstanding results from the first hole of a maiden drilling program at the very high grade Little Gem Cobalt-Gold Project (Little Gem) in British Columbia, Canada.

Highlights

• Blackstone’s first drill hole has intersected massive, semi-massive and disseminated mineralisation with the following significant results:
4.3 m @ 1.0% cobalt & 15 g/t gold; including
1.1 m @ 3.0% cobalt and 44 g/t gold.

• Initial results from the maiden drilling are consistent with historic drilling and adit channel sampling which returned average grades of 3% cobalt and 20 g/t gold;

• The first hole has only tested the upper portion of the mineralised target with multiple zones of massive sulfide (Co-Au) mineralisation identified within a broader alteration halo;

• Maiden drilling is consistent with historic underground drilling from adits including:
1.8 m @ 2.4% cobalt & 112 g/t gold;
3.3 m @ 1.4% cobalt & 80 g/t gold; and
3.3 m @ 1.4% cobalt & 12.3 g/t gold;

• Results from historic adit channel sampling at Little Gem include:
1.8 m @ 4.4% cobalt & 73 g/t gold;
2.0 m @ 3.1% cobalt & 76 g/t gold; and
1.5 m @ 5.4% cobalt & 26 g/t gold;

• The Little Gem Project covers a large land holding with 48 km of untested strike potential of geology analogous to the world class Bou-Azzer primary Cobalt district in Morocco;

• Little Gem is favourably located less than 15 km along strike from the Bralorne-Pioneer mining complex (endowment of 4.4 Moz at 17 g/t Au).

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