BlackPearl Temporarily Shuts-In Production at Mooney Due to Slave Lake Forest Fires

CALGARY, ALBERTA--(Marketwire - May 16, 2011) -BlackPearl Resources Inc. ("BlackPearl" or the "Company") (TSX:PXX)(FIRST NORTH:PXXS) announced today that it has had to temporarily shut-in its oil production at Mooney as a result of the threat from forest fires in the Slave Lake area in northern Alberta. The Mooney field was producing approximately 700 barrels of oil per day at the time operations were shut-down. In addition, construction and commissioning of the polymer facilities have been halted. As a result of a mandatory evacuation order, all of our employees and contractors have been evacuated from the area. None of the Company's facilities have been damaged to date.

It is unclear at this time when production operations as well as construction and commissioning of the polymer facilities at Mooney will recommence. However, if none of our facilities are materially affected we would expect to resume activities following the lifting of the evacuation order.

BlackPearl's Certified Advisor on First North is E. Öhman J:or Fondkommission AB.

Company Registration Number: 409596-1