Blackstone Ventures has been granted an exploration licence and 100% interest in the Jervas base metal property, 70 km north along the same trend as its high-grade Uma copper-zinc-lead project in northern Sweden.

Blackstone identified Jervas as a key property after encouraging results at the Uma project prompted a complete evaluation of volcanogenic massive sulphide (VMS) targets in the district.

In an attempt to identify potential massive sulphide bodies, the company contracted a 400 line-km airborne electromagnetic (EM) geophysical survey over the area. The survey was successful in outlining several EM anomalies, including a 1.4 km strike length EM conductor north of historic drill holes.

Blackstone has applied for an additional surrounding mineral exploration licence to cover several EM conductors at the edges of the survey block.

Blackstone plans to evaluate targets on Jervas in conjunction with exploration on the Uma project in 2008.

Blackstone currently has seven drills operating in Norway and Sweden, all currently directed at the Company's nickel exploration projects. Four drills will be focused at the high priority Ertelia (Norway) and Lainjaur (Sweden) projects where results continue to provide encouragement for the presence of an economic deposit. All drilling activity was suspended during the Christmas holiday break with resumption of drilling to begin in mid-January, 2008.

The Jervas property hosts base metal sulphide mineralisation that, according to Swedish Geological Survey records, contains a historic Non-NI 43-101resource estimate of about 10 Mt grading 0.46% Cu with minor zinc, lead, silver and gold based on diamond drilling of mainly disseminated and stringer sulphide mineralisation during the 1950s and 1960s.

Examination of this archived drill core indicates that the style of mineralisation may represent a previously unrecognised alteration zone possibly related to undiscovered VMS deposits.