CHANGED NUMBER OF OUTSTANDING SHARES IN BLACKPEARL

12/31/2012 5:00 PM EST

BlackPearl Resources Inc.
Company Announcement

CHANGED NUMBER OF OUTSTANDING SHARES IN BLACKPEARL


CALGARY, ALBERTA - BlackPearl Resources Inc. (the "Company") (TSX:PXX) (NASDAQ
OMX Stockholm:PXXS) 

As a result of the exercise of options and warrants, the total number of shares
and votes in the Company has changed during December 2012 as follows. 

The number of shares has increased by 2,526,465 and the total number of shares
and votes in the Company as of December 31, 2012 is 295,765,808. 

The above information has been made public in accordance with the Swedish
Financial Instruments Trading Act. 


         For further information, please contact:
         John Festival - President and Chief Executive Officer, Tel.: (403)
215-8313 
         Don Cook - Chief Financial Officer, Tel: (403) 215-8313