Black Hawk to Receive Additional Investment From European Financial Institution

FOX ISLAND, Wash., May 14 /PRNewswire-FirstCall/ -- Black Hawk Exploration, Inc. (OTC Bulletin Board: BHWX), announced today that it will receive additional investment from an European Institutional Investor in the amount of $200,000. On Oct 21st, 2009 Black Hawk received a $1,000,000 funding commitment, as filed with the Securities and Exchange Commission, from a European Financial Institution. To date Black Hawk has requested and received 2 tranches of $200,000 each under this agreement. Kevin Murphy, CEO of Black Hawk stated, "We are pleased to have an institutional partner that will provide the necessary funding to commence our drilling program. As stated in our previous release, the drilling area had high gold concentrations at the surface and was a popular exploration site many years ago. We look forward to learning more about mineral concentrations at various depths."

Under the terms of the agreement, Black Hawk has the right to call upon funds as needed up to $1,000,000.  Black Hawk has received notification of approval of its request for funds and will use the proceeds from the third tranche for additional claim acquisitions, mobilization of equipment to the Dun Glen exploration site and operating expenses. Black Hawk may draw up to $1,000,000 in total by issuing units consisting of one share of its common stock at $0.85 US and one common stock purchase warrant exercisable for the purchase of one additional share of common stock at $1.05 for the first 12 months and $1.25 if exercised by the end of the second year. The securities to be issued under the agreement have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States absent a registration or an applicable exemption from the registration requirements.

About Black Hawk Exploration, Inc.,

Black Hawk is a diversified metals and energy exploration company with a current focus on gold exploration at its Dun Glen holdings. A definitive sampling and exploration program for Dun Glen, which was previously announced, is in final permit stage and expected notification will be received within the next 7-10 business days. Mr. Murphy provides an open commentary on the Black Hawk Exploration website (www.BlackHawkExploration.com) under CEO-BLOG

"Safe Harbor" Statement:

Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products in development are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995.

Certain oral statements made by management from time to time and certain statements contained in press releases and periodic reports issued by Black Hawk (the "Company"), as well as those contained herein, that are not historical facts are "forward-looking statements" within the meaning of Section 21E of the Securities and Exchange Act of 1934 and, because such statements involve risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements.

SOURCE Black Hawk Exploration, Inc.

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