Blackheath Resources Inc.


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News Releases

 July 11, 2012
Blackheath Resources Inc. Closes IPO

 Vancouver, British Columbia -- Blackheath Resources Inc. (the "Company") is pleased to announce that it has closed its initial public offering of 6,449,500 common shares at a price of $0.25 per common share, for aggregate gross proceeds of $1,612,375 (the "IPO"). The net proceeds of the IPO will be expending on the Covas Property located in north-western Portugal and as described in the Company's prospectus dated June 5, 2012 as filed on SEDAR. The Company's common shares were listed on the TSX Venture Exchange (the "TSXV") under the trading symbol "BHR" effective at market open today, subject to an immediate halt. The Company expects the halt to be lifted at market open on Friday, July 13, 2012.

Jordan Capital Markets Inc. acted as agent on the IPO. As consideration for assisting in completing the prospectus offering, the Company: (i) paid a marketing commission equal to 8% of the gross proceeds of the IPO raised from non-insider participants, payable in cash; (ii) paid a corporate finance fee (plus applicable taxes); (iii) issued options (the "Agent's Options") to acquire 503,160 common shares of the Company (exercisable at $0.25 per share for a period of 18 months from the date hereof); and (iv) paid the Agent's expenses in connection with the IPO.

As a result of the closing of the IPO, the Company now has 12,249,500 common shares issued and outstanding (of which 4,555,000 shares are subject to escrow and a further 328,334 shares are subject to seed share resale restrictions). A total of 1,303,160 common shares are reserved for issuance pursuant to: (i) the exercise of 503,160 Agent's Options; and (ii) the exercise of 800,000 stock options granted under the Company's stock option plan.

The board of directors consists of James Robertson, Kerry Spong, Jonathan Carter, Marshall Farris and John Merfyn Roberts. James Robertson is the President and CEO and Kerry Spong is the CFO and Corporate Secretary.

"James Robertson"
James Robertson, President, CEO and Director

Neither 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 includes "forward-looking information" that is subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Information regarding listing of the Company's common shares on the TSX Venture Exchange is subject to all of the risks and uncertainties normally incident to such events. Investors are cautioned that any such statements are not guarantees of future events and that actual events or developments may differ materially from those described in the forward-looking information. The Company does not update forward-looking information, except as required by applicable laws.

You can view the Next News Releases item: Wed Jul 18, 2012, Blackheath Announces Start of Exploration Program

You can view the Previous News Releases item: Fri Apr 13, 2012, Blackheath Resources Inc. engages Jordan Capital Markets Inc. for Initial Public Offering

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