FOX ISLAND, Wash., Feb. 10 /PRNewswire-FirstCall/ -- Black Hawk Exploration (OTC Bulletin Board: BHWX) a diversified energy and metals exploration company focused on premium US based Lithium and Gold exploration, previously announced on October 19, 2009 that it has entered into an equity financing agreement for up to $1,000,000 with Blue Leaf Capital Limited. Under the terms of the Agreement, the Company may, from time to time, request an investment from Blue Leaf of up to $200,000 per request. On January 29th, 2010 Black Hawk received an additional $200,000 as requested and intends to use the proceeds for operating expenses, acquisitions, working capital and general corporate activities.

Kevin Murphy, CEO of Black Hawk Exploration stated, "As international demand for battery-powered devices and precious metals steadily increases, global demand for our potential Lithium and Gold production has increased significantly. We are eager to begin drilling on both properties and this capital infusion allows us to do so."

Under the terms of the agreement, Black Hawk has the right to call upon funds as needed.  Black Hawk has received its second tranche which will be used for additional claim development, evaluations and operating expenses associated with its Gold and Lithium exploration. Black Hawk may draw up to a total of $1,000,000, 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 its current focus on Lithium and Gold exploration through its wholly owned subsidiaries Blue Lithium Energy and Golden Black Hawk. Black Hawk Exploration is committed to an aggressive program of value added property acquisition, project generation, asset diversity and building Shareholder value.

"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.  

SOURCE Black Hawk Exploration Inc.

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