BLACKBULL RESOURCES INC. : http://www.blackbullresources.com/ : QwikReport

News Releases

#Wed Feb 27, 2019
Black Bull Resources Inc. Announces December 31, 2018 -- Interim Financial Statement Release

 Shelburne, NS ---February 27, 2019 --- Black Bull Resources Inc. (NEX:BBS.H) has released its Interim Report including the Financial Statements and Management's Discussion & Analysis for the first fiscal quarter ended December 31, 2018.

The Company recorded a net and comprehensive loss for the three-month period of $21,699 versus $20,912 for December 31, 2016, or ($0.01) per share versus ($0.01). Allowing for non-cash operating expense of $1,248 compared to $1,249 for December 31, 2017, the Company's operational cash loss was $20,421 versus $19,663 for December 31, 2017.

"The focus continues to complete a transaction" says Chris E Every President and CEO, "and reduce cash burn, although the Company's future is uncertain"

About Black Bull Resources Inc.
Black Bull Resources Inc. is a Canadian mining company based in Nova Scotia that owns the White Rock Mine near Shelburne. The mine produces a unique, bright, white, high-purity quartz, marketed under the Scotia WhiteTM trademark which is used in a range of value-added, specialty products.

The White Rock Property also contains an identified resource of kaolin and mica.

Further detailed information may be obtained from the Company's website www.blackbullresources.com or corporate filings at www.SEDAR.com. For other Company information contact:
Martin MacKinnon,
CFO
Black Bull Resources Inc.
Tel: 902-499-7183
Fax: 902-492-0700

FORWARD LOOKING STATEMENTS: This news release contains certain forward-looking statements. All statements, other than statements of historical fact, included herein, including without limitation statements regarding the Company's mining properties, development results or future plans, are forward looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, changes in mineral prices, fluctuations in currency exchange rates, uncertainties relating to the availability and costs of financing needed in the future, the capital and operating costs varying significantly from estimates, delays in the development of projects, as well as those risk factors discussed or referred to in Management's Discussion and Analysis under the heading "[Risks and Uncertainties]" and other documents filed from time to time with the securities regulatory authorities in all provinces and territories of Canada and available at www.sedar.com.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Unless required by law, the Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
 
#Thu Feb 21, 2019
Black Bull Resources Inc. Announces it has signed an extension to the Option Agreement with Infrastructure Commodities Limited

 Shelburne, NS --- February 21, 2019 --- Black Bull Resources Inc. (NEX:BBS.H) On February 18, 2019, the Company entered into an option agreement with Infrastructure Commodities Limited ("ICML"), a related party by virtue of a common officer and director. Under the terms of the agreement, the Company granted ICML the sole and exclusive right and option to explore and mine the Company's White Rock property located in Yarmouth County, Nova Scotia. In consideration of the grant of the option, ICML will pay to the Company 50% of the net after tax profits from the sale of quartz, kaolin and mica products mined at the property.

The agreement is subject to several conditions to closing as follows:
• Within 1 month of the option grant date, and no later than Feb 28, 2019, ICML must prepare a paper describing the anticipated exploitation prospects to facilitate the preparation of a bankable report;

• Within 3 months of the option grant date, and not later than May 28, 2019, ICML must:

a) Research and prepare a review of the applicable quartz market for use in preparing a plan for exploiting the quartz prospects on the property;

b) Prepare a report on options to pre-treat feedstock prior to delivery to high value clients;

c) Preview potential offtake partners in the USA, Canada, EU and Asia for higher-end market opportunities;

d) Preview potential exploitation partners; and

e) Preview prospects for beneficiation technology located in Nova Scotia.

• Within 4 months of the option grant date, and not later than June 28, 2019, ICML must:

a) Outline the prospective project value and return to investors in a pre-bankable report; and

b) Prepare an outline of a budget for completion of due diligence and a bankable report on the exploitation of the quartz, kaolin and mica assets on the property.

• Within 6 months of the option grant date, and not later than July 28, 2019, ICML must be prepared to review project possibilities with the Company for the way forward for exploitation of the property for quartz, kaolin and mica production and sale of aforesaid.

About Black Bull Resources Inc.
Black Bull Resources Inc. is a Canadian mining company based in Nova Scotia that owns the White Rock Mine near Shelburne. The mine produces a unique, bright, white, high-purity quartz, marketed under the Scotia WhiteTM trademark which is used in a range of value-added, specialty products.

The White Rock Property also contains an identified resource of kaolin and mica.

Further detailed information may be obtained from the Company's website www.blackbullresources.com or corporate filings at www.SEDAR.com. For other Company information contact:
Martin MacKinnon,
CFO
Black Bull Resources Inc.
Tel: 902-499-7183
Fax: 902-492-0700

FORWARD LOOKING STATEMENTS: This news release contains certain forward-looking statements. All statements, other than statements of historical fact, included herein, including without limitation statements regarding the Company's mining properties, development results or future plans, are forward looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, changes in mineral prices, fluctuations in currency exchange rates, uncertainties relating to the availability and costs of financing needed in the future, the capital and operating costs varying significantly from estimates, delays in the development of projects, as well as those risk factors discussed or referred to in Management's Discussion and Analysis under the heading "[Risks and Uncertainties]" and other documents filed from time to time with the securities regulatory authorities in all provinces and territories of Canada and available at www.sedar.com.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Unless required by law, the Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

About Infrastructure Commodities (Mauritius) Ltd ("ICML"),
ICML is a company listed on the Stock Exchange of Mauritius, managing over $380M of existing diverse mining assets and established specifically to fund and exploit commodities utilized in the fast-growing infrastructure sector. Seeking projects at market and expanding or those with proven ability to deliver revenues in the short term ICML will establish growth, as cornerstone and via co-fund projects, utilizing a variety of instruments including, equity, debt, royalty structures and streaming for example.
 
#Mon Jan 28, 2019
Black Bull Resources Inc. Announces September 30, 2018 -- Annual Financial Statement Release

 

Shelburne, NS --- January 28, 2019 --- Black Bull Resources Inc. (NEX:BBS.H released the Audited Financial Statements and Management Discussion & Analysis (MD&A) for the year ended September 30, 2018.

The Company reports a net loss for the year of $114,750 compared to a net loss in 2017 of $175,829 or $0.03, per share ($0.05 in 2017). There was nil revenue ($nil in 2017) as the Company is in care and maintenance. The Company recorded $4,7991 ($37.697 in 2017) in noncash operating expenses resulting in a net cash loss from operations of $109,759 ($138,132 in 2017) or $0.03 per share ($0.04 in 2017).

During the fourth quarter, the Company reports a net loss of $25,977 (net loss of $78,640 in 2017) or $0.01 per share ($0.01 in 2017). The Company recorded $1,246 ($34,100 in 2017) in non-cash operating items resulting in a net cash loss from operations of $24,731 (net loss of $44,540 in 2017) or $0.01 per share ($0.01 in 2017).

The Company continues to work through the previously announced change of business transaction. More information will be released as it becomes available. In addition, during 2018, the Company secured a demand loan of $108,595 from a director, which provided the ongoing working capital for the company while the aforementioned transaction is completed"

About Black Bull Resources Inc.

Black Bull Resources Inc. is a Canadian mining company based in Nova Scotia that owns the White Rock Mine near Shelburne. The mine produces a unique, bright, white, high-purity quartz, marketed under the Scotia WhiteTM trademark which is used in a range of value-added, specialty products.

The White Rock Property also contains an identified resource of kaolin and mica.

Further detailed information may be obtained from the Company's website www.blackbullresources.com or corporate filings at www.SEDAR.com. For other Company information contact:

Chris Every CEO
Black Bull Resources Inc.
Mb: +44 (0)7970 829499

FORWARD LOOKING STATEMENTS: This news release contains certain forward-looking statements. All statements, other than statements of historical fact, included herein, including without limitation statements regarding the Company's mining properties, development results or future plans, are forward looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, changes in mineral prices, fluctuations in currency exchange rates, uncertainties relating to the availability and costs of financing needed in the future, the capital and operating costs varying significantly from estimates, delays in the development of projects, as well as those risk factors discussed or referred to in Management's Discussion and Analysis under the heading "[Risks and Uncertainties]" and other documents filed from time to time with the securities regulatory authorities in all provinces and territories of Canada and available at www.sedar.com.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Unless required by law, the Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

 
#Mon Aug 27, 2018
Black Bull Resources Inc. Announces June 30, 2018 Interim Financial Statement Release

 Shelburne, NS --- August 27, 2017 Black Bull Resources Inc. (TSXV:BBS.H) has released its Interim Report including the Financial Statements and Management's Discussion & Analysis for the third fiscal quarter ended June 30, 2017

The Company recorded a net and comprehensive loss for the three-month period of $26,874 versus $39,987 for June 30, 2017, or ($0.00) per share versus ($0.01). Allowing for non-cash operating expense of $1,248 compared to $1,199 for June 30, 2017 the Company's operational cash flow loss was $25,627 versus a loss of $39,788 for June 30, 2018.

On a year to date basis The Company recorded a net and comprehensive loss for the year to date of $88,772 versus $94,708 to June 30, 2017, or ($0.02) per share versus ($0.02). Allowing for non-cash operating expense of $3,596 compared to $3,744 to June 30, 2017 the Company's operational cash flow loss was $85,028 versus a loss of $91,112 to June 30, 2017.

"The focus is complete the announced Proposed Change of Business," says Chris Every President and CEO, "While the Company's future is uncertain we continue to reduce cash burn".

A complete set of Black Bull's Financial Statements, Notes to the Consolidated Financial Statements and Management's Discussion and Analysis for the period ended June 30, 2018 have been filed on SEDAR at www.sedar.com.

About Black Bull Resources Inc.

Black Bull Resources Inc. is a Canadian mining company based in Nova Scotia that owns the White Rock Mine near Shelburne. Prior to suspension of operations, the mine produced a unique, bright, white, high-purity quartz, marketed under the Scotia WhiteTM trademark which is used in a range of value-added, specialty products.

The White Rock Property also contains an identified resource of kaolin and mica.
 

Further detailed information may be obtained from the Company's website www.blackbullresources.com or corporate filings at www.SEDAR.com. For other Company information contact:

Martin MacKinnon CFO
Black Bull Resources Inc.
Tel: 902-499-7183

FORWARD LOOKING STATEMENTS: This news release contains certain forward-looking statements. All statements, other than statements of historical fact, included herein, including without limitation statements regarding the Company's mining properties, development results or future plans, are forward looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, changes in mineral prices, fluctuations in currency exchange rates, uncertainties relating to the availability and costs of financing needed in the future, the capital and operating costs varying significantly from estimates, delays in the development of projects, as well as those risk factors discussed or referred to in Management's Discussion and Analysis under the heading "[Risks and Uncertainties]" and other documents filed from time to time with the securities regulatory authorities in all provinces and territories of Canada and available at www.sedar.com.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Unless required by law, the Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements.

THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
 
#Mon Jul 23, 2018
Black Bull signs Option Agreement with Infrastructure Commodities Limited

 Surrey, British Columbia - Black Bull Resources Inc. ("Black Bull") (TSXV: "BBS.H") is pleased to announce it has signed an Option Agreement, effective July 13, 2018, with Infrastructure Commodities Limited ("InfCom") to explore and mine the White Rock property located in Yarmouth County, Nova Scotia, approximately 45 km north of the town of Shelburne and about 65 km east of the town of Yarmouth and registered with the Nova Scotia Department of Natural Resources, Registry of Mineral and Petroleum Titles (the "Property"). The Option Agreement gives InfCom the right to explore and mine the Property for Quartz, Kaolin and Mica and refine and produce Quartz, Kaolin and Mica for sale therefrom.

Conditions of the Option Agreement are:

1. The Option Grant is to be completed by both Parties in the month of July 2018.

2. Subject to completion of within 1 month of the Option Grant Date, and no later than July 28, 2018, InfCom must prepare a paper describing the anticipated Quartz, Kaolin and Mica exploitation prospects to facilitate the preparation of a bankable report.

3. Within 3 months of the Option Grant Date, and not later than October 28, 2018, InfCom must:
(a) Research and prepare a review of the applicable quartz market by value sectors / pricing / prospects & stability for use in preparing a plan for exploiting the quartz prospects on the Property;
(b) Prepare a report on options to pre-treat feedstock prior to delivery to high value clients;
(c) Preview potential offtake partners in the USA, Canada, EU and Asia for higher-end market opportunities;
(d) Preview potential exploitation partners; and
(e) Preview prospects for beneficiation technology located in Nova Scotia.

4. Within 4 months of the Option Grant Date, and not later than November 30, 2018 InfCom must:
(a) Outline the prospective project value and return to investors in a pre-bankable report; and
(b) Prepare an outline of a budget for completion of due diligence and a bankable report on the exploitation of the Quartz, Kaolin and Mica assets on the Property.

5. Within 6 months of the Option Grant Date, and not later than January 31, 2019, InfCom must be prepared to review project possibilities with Black Bull for the way forward for exploitation of the Property for Quartz, Kaolin and Mica production and sale as aforesaid.

6. In consideration of the grant of the Option and the other terms and conditions of the Option Agreement, InfCom will:
(a) Satisfy the conditions set forth above; and
(b) Pay to Black Bull 50% of the net after tax profits to InfCom from the sale of Quartz, Kaolin and Mica products mined at the property.

Infrastructure Commodities Ltd is a wholly owned subsidiary of Infrastructure Commodities (Mauritius) Ltd (ICML), a company listed on the Stock Exchange of Mauritius, managing over $380M of existing diverse mining assets and established specifically to fund and exploit commodities utilized in the fast-growing infrastructure sector. Seeking projects at market and expanding or those with proven ability to deliver revenues in the short term ICML will use cornerstone and co-fund projects utilizing a variety of instruments including, equity, debt, royalty structures and streaming for example.

Chris Every CEO of Infrastructure Commodities (Mauritius) Ltd said: "Global spend in this market is expected to reach $90 Trillion by 2030 (McKinsey) and of the infrastructure needed by 2050, only 30% of it is, as yet, being built or in place. Black Bull assets are potentially high quality and therefore essential items in this growth explosion, for power, construction and technology markets. Prior exploitation on a limited scale has provided substantial information on the assets and a relatively short time to reach commercial extraction. We are delighted to have the opportunity to analyse the best way forward to provide the right financial instruments in conjunction with future financial and technical partnerships to exploit the resources to the full."

Black Bull is delighted to have an agreement with InfCom, a well-financed company with an internationally experienced management team.

Note: The above-noted Option Agreement between Black Bull and InfCom (the "Option Agreement") does not change or otherwise effect the Change of Business Transaction with Black Bull Resources Inc. and Magnetic North Acquisition Corp.

The Option Agreement is subject to review and approval of the TSX Venture Exchange

For further information, please contact:
David L. Wood, Director
Black Bull Resources Inc.
Phone: (604) 720-7307

The TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results and activities to vary materially from targeted results and planning. Such risks and uncertainties include those described in Black Bull's periodic reports including the filings made by Black Bull from time to time with securities regulatory authorities.
 

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