Black Pearl Closes Private Placement

TORONTO, ONTARIO--(MARKET WIRE)--Jan 5, 2009 -- Black Pearl Minerals Consolidated Inc. (the "Company") (CDNX:BLK.V - News) is pleased to announce the completion of a non-brokered private placement of (i) 2,250,000 "flow-through" shares at a price of $0.10 per share with warrants to purchase up to 1,125,000 shares at an exercise price of $0.25 per share for a period of two years; and (ii) 3,050,000 hard dollar shares at a price of $0.08 per share with warrants to purchase up to 1,525,000 shares at an exercise price of $0.15 per share for a period of two years for aggregate gross proceeds of $469,000.

An aggregate of $19,180 in finder's fees and warrants to purchase up to 220,500 shares at an exercise price of $0.15 per share for a period of two years were issued to Octagon Capital Corporation, MGI Securities Inc., and Canaccord Capital Corporation in connection with the private placement. The securities issued are subject to a four month hold period.

Shares Outstanding: 87,877,801

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

     Contacts:
     Black Pearl Minerals Consolidated Inc.
     Judy Baker
     President
     (416) 361-2821
     Website: http://www.blackpearlminerals.com