January 18, 2012 - Edmonton, Alberta - Niblack Mineral Development Inc. (TSX-V: NIB) (“Niblack” or the “Company”) announces the successful completion by court-approved plan of arrangement (the “Arrangement”), of the acquisition of Niblack by Heatherdale Resources Ltd. (“Heatherdale”). Heatherdale has acquired all the outstanding common shares of Niblack in exchange for the issuance of 19,221,578 Heatherdale common shares, and now holds a 100% interest in the Niblack copper-gold-zinc-silver project located in southeast Alaska, USA.

Under the Arrangement, former shareholders of Niblack received 0.50 common shares of Heatherdale for each common share of Niblack.  Each unexercised warrant that was outstanding at closing has been amended to give the warrantholder the right to purchase the number of Heatherdale shares equal to 50% of the number of Niblack shares subject to such warrant, at an exercise price of C$1.20 in the case of warrants that have a current exercise price of C$0.45 and C$1.73 in the case of warrants that have a current exercise price of C$0.65.  All unexercised options at closing have been cancelled for C$0.01 per option.  Niblack will be delisted from the TSX-V on or about January 19, 2012.

For further details, please visit the company website at www.niblack.com or contact investor services at (604) 697-2861. 

On behalf of the Board of Directors

John Williamson
President & CEO of Niblack

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 news release may contain forward - looking information including but not limited to comments regarding the timing and content of upcoming transactions.  Forward - looking information includes disclosure regarding possible future events, or conditions or results of operations that is based on assumptions about future economic conditions and courses of action, and therefore, involves inherent risks and uncertainties. Although management has a reasonable basis for the conclusions drawn, actual results may differ materially from those currently anticipated in such statements.  For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.

As announced on October 26, 2011, the Arrangement was made subject to customary closing conditions, including the approval of 66 2/3% of the votes cast by shareholders, optionholders and warrantholders of Niblack, each voting separately, and approval of the Arrangement by the Court of Queen’s Bench of Alberta.

On January 11, 2012, the Arrangement was approved by the aforementioned supermajorities of voting Niblack securityholders.  In addition, on January 12, 2012, the Arrangement was aproved by the appropriate court, the Court of Queen’s Bench of Alberta.

Under the terms of the Arrangement, the Arrangement will become effective on the second business day after all of the conditions to closing specified in the Arrangement Agreement are satisfied or waived or such other date as the parties may agree.

Niblack and Heatherdale are currently working to bring about the satisfaction of all remaining closing conditions.

About Niblack Mineral Development Inc.

Niblack Mineral Development Inc. (NIB: TSX-V) is an exploration and development company with a number of mineral rich assets in South East Alaska.  The Company’s principal asset is its interest in the Niblack copper-gold-zinc-silver project for which a Preliminary Economic Assessment is currently underway.  This project is currently in a joint venture operated by Heatherdale Resources Ltd.

For further details, please visit the company website at www.niblack.com or contact investor services at (604) 697-2861. 

On behalf of the Board of Directors

John Williamson
President & CEO of Niblack

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 news release may contain forward - looking information including but not limited to comments regarding the timing and content of upcoming transactions.  Forward - looking information includes disclosure regarding possible future events, or conditions or results of operations that is based on assumptions about future economic conditions and courses of action, and therefore, involves inherent risks and uncertainties. Although management has a reasonable basis for the conclusions drawn, actual results may differ materially from those currently anticipated in such statements.  For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.

About Niblack Mineral Development Inc.

Niblack Mineral Development Inc. (TSX-V: NIB) is an exploration and development company with a number of mineral rich assets in South East Alaska.  The Company’s principal asset is its interest in the Niblack copper-gold-zinc-silver project for which a Preliminary Economic Assessment is currently underway.  This project is currently in a joint venture operated by Heatherdale Resources Ltd.

For further details, please visit the company website at www.niblack.com or contact investor services at (604) 697-2861. 

On behalf of the Board of Directors

John Williamson
President & CEO of Niblack

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 news release may contain forward - looking information including but not limited to comments regarding the timing and content of upcoming transactions.  Forward - looking information includes disclosure regarding possible future events, or conditions or results of operations that is based on assumptions about future economic conditions and courses of action, and therefore, involves inherent risks and uncertainties. Although management has a reasonable basis for the conclusions drawn, actual results may differ materially from those currently anticipated in such statements.  For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.

Edmonton, Alberta - Niblack Mineral Development Inc. (TSX-V: NIB) ("Niblack" or the "Company") is pleased to announce that on January 11, 2012 its securityholders voted to approve the previously announced plan of arrangement (the "Arrangement") under which Heatherdale Resources Ltd. (TSX-V: HTR) ("Heatherdale") will, if the Arrangement is completed, acquire all of the common shares of Niblack in exchange for Heatherdale shares, on the basis of 0.50 Heatherdale share per Niblack common share.  Additional details concerning the Arrangement can be found in Niblack's management information circular that was mailed to shareholders on December 16, 2011.

About Niblack Mineral Development Inc.

Niblack Mineral Development Inc. (TSX-V: NIB) is an exploration and development company with a number of mineral rich assets in South East Alaska.  The Company's principal asset is its interest in the Niblack copper-gold-zinc-silver project for which a Preliminary Economic Assessment is currently underway.  This project is currently in a joint venture operated by Heatherdale Resources Ltd.

For further details, please visit the company website at www.niblack.com or contact investor services at (604) 697-2861.

On behalf of the Board of Directors

John Williamson
President & CEO of Niblack

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 news release may contain forward - looking information including but not limited to comments regarding the timing and content of upcoming transactions.  Forward - looking information includes disclosure regarding possible future events, or conditions or results of operations that is based on assumptions about future economic conditions and courses of action, and therefore, involves inherent risks and uncertainties. Although management has a reasonable basis for the conclusions drawn, actual results may differ materially from those currently anticipated in such statements.  For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.

December 29, 2011 – Edmonton, Alberta – Niblack Mineral Development Inc. (“Niblack” or the “Company”) (TSX Venture Exchange: NIB) is pleased to announce a non-brokered private placement offering (the “Offering”) for gross proceeds of $475,000, comprised of 2,500,000 common shares (the “Common Shares”) of the Company at a price of $0.19 per Common Share, which is scheduled to close on or about December 30, 2011 (the “Closing”).  Niblack retained PI Financial Corp. (the “Agent”) to help affect sales of the Common Shares and the Agent will be paid a commission of 10% of the gross proceeds realized on the Common Shares sold by the Agent.  Closing of the Offering is subject to the receipt of all applicable regulatory approvals, including final approval of the TSX Venture Exchange.  The Common Shares will be subject to a resale restriction for a period of four months plus one day from Closing.

The proceeds of the Offering will be used for general working capital for the Niblack Project in South East Alaska and to close the arrangement involving Heatherdale Resources Ltd. previously announced on October 26, 2011.

THIS NEWS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY SECURITIES IN THE UNITED STATES. THE SECURITIES HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “U.S. SECURITIES ACT”) OR ANY STATES SECURITIES LAWS AND MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED UNDER THE U.S. SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS OR AN EXEMPTION FROM SUCH REGISTRATION IS AVAILABLE.

About Niblack Mineral Development Inc.

Niblack Mineral Development Inc. (NIB: TSX-V) is an exploration and development company with a number of mineral rich assets in South East Alaska.  The Company’s principal asset is its interest in the advanced stage copper-gold-zinc-silver Niblack Project.  This project is currently in a joint venture operated by Heatherdale Resources Ltd.

For further details, please visit the company website at www.niblack.com or contact investor services at (604) 697-2861.  Niblack Mineral Development Inc. is a member of the Discovery Group of companies.  For more information on the group visit www.discoveryexp.com.

On behalf of the Board of Directors

John Williamson
President & CEO of Niblack

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 news release may contain forward - looking information including but not limited to comments regarding the timing and content of upcoming financings.  Forward - looking information includes disclosure regarding possible future events, or conditions or results of operations that is based on assumptions about future economic conditions and courses of action, and therefore, involves inherent risks and uncertainties. Although management has a reasonable basis for the conclusions drawn, actual results may differ materially from those currently anticipated in such statements.  For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.

The board of directors of Niblack (the “Niblack Board”) has determined that the Arrangement is in the best interests of Niblack and is fair to the Securityholders and recommends the Securityholders vote FOR the Arrangement.  The determination of the Niblack Board is based on various factors described more fully in the Information Circular.

To be effective, the Arrangement must be approved by special resolutions passed by at least two‐thirds of the votes cast by holders of each of (i) the outstanding Niblack Shares, (ii) the outstanding Niblack Options and (iii) the outstanding Niblack Warrants present in person or represented by proxy at the Meeting.  Each holder of Niblack Shares on the record date of December 5, 2011 (the “Record Date”) is entitled to one vote for each Niblack Share held.  Each holder of Niblack Options on the Record Date is entitled to one vote for each Niblack Share issuable upon exercise of such holder’s Niblack Options.  Each holder of Niblack Warrants on the Record Date is entitled to one vote for each Niblack Share issuable upon exercise of such holder’s Niblack Warrants.  The directors and officers of Niblack have entered into lock‐up agreements with Heatherdale, whereby they have agreed to vote their Niblack Shares and any Niblack Options and Niblack Warrants held by them in favour of the Arrangement.  The Arrangement is subject to final approval by the Court of Queen’s Bench of Alberta and is subject to the satisfaction of certain other conditions.

In summary, Securityholders should pay particular attention to the following important dates:

January 9, 2012⁽¹⁾ – Last day to deposit proxies.
January 11, 2012⁽¹⁾ – Special meeting of Securityholders.
January 13, 2012⁽²⁾ – Effective time of the Arrangement.

Notes:
⁽¹⁾ 1:00 p.m. Edmonton time
⁽²⁾ 1:00 p.m. Edmonton time

All of the documents in the mail out may also be viewed on SEDAR and on the Niblack Mineral Development Inc. website at www.niblack.com.

About Niblack Mineral Development Inc.

Niblack Mineral Development Inc. (NIB: TSX-V) is an exploration and development company with a number of mineral rich assets in South East Alaska.  The Company’s principal asset is its interest in the advanced stage copper-gold-zinc-silver Niblack Project.  This project is currently in a joint venture operated by Heatherdale Resources Ltd.

For further details, please visit the company website at www.niblack.com or contact investor services at (604) 697-2861.  Niblack Mineral Development Inc. is a member of the Discovery Group of companies.  For more information on the group visit www.discoveryexp.com.

On behalf of the Board of Directors

John Williamson
President & CEO of Niblack

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 news release may contain forward - looking information including but not limited to comments regarding the timing and content of upcoming transactions.  Forward - looking information includes disclosure regarding possible future events, or conditions or results of operations that is based on assumptions about future economic conditions and courses of action, and therefore, involves inherent risks and uncertainties. Although management has a reasonable basis for the conclusions drawn, actual results may differ materially from those currently anticipated in such statements.  For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.

“Our efforts to expand known deposits of high-grade VMS mineralization at Niblack and prepare the project for development and permitting continue to receive widespread support and encouragement from the people, communities and institutions of southeast Alaska,” confirmed Heatherdale President & CEO Pat Smith. “Southeast Alaskans want and encourage responsible development of their mineral resources, and are willing to work cooperatively with progressive companies that invest in programs that generate benefits for local communities while ensuring protection of valued natural resources. It is a very encouraging and supportive environment for Heatherdale and the Niblack Project.”

Smith noted that Heatherdale has received vocal and bi-partisan support from some of Alaska’s leading political figures. The vast majority of southeast Alaska legislators from both sides of the aisle have visited the Niblack property in 2011. Both Alaska Governor Sean Parnell (R) and US Senator Mark Begich (D) have had occasion to speak out in support of Heatherdale and the Niblack Project this year.

Sen. Begich wrote a letter in July 2011 supporting the responsible development of the Niblack Project and urging the US Forest Service to make all reasonable efforts to ensure timely permitting of Heatherdale’s proposed surface exploration drilling program. Meanwhile, at an October 2011 minerals conference in Fairbanks, Gov. Parnell spoke expansively about Heatherdale and Niblack: “Heatherdale is spending $1.2 million in the economy every month, for groceries, fuel, and training. Thirty-five people are working….Now it may seem small in scale, but there’s a tremendous sense of optimism both in the miners and the management team. Niblack…illustrates an important point: in southeast Alaska, where the federal government has decimated timber jobs, the private sector is establishing a beachhead of opportunity for new jobs.”

Heatherdale is pursuing partnership opportunities with a range of southeast Alaska institutions, corporate entities and Native organizations related to the provision of power to the future Niblack mine. As a member of the Southeast Conference, the Company has worked with a range of local government and private entities to ensure that its future energy requirements are reflected in the Southeast Integrated Resource Plan. Heatherdale has also engaged with the Alaska Energy Authority (AEA) and the Alaska Industrial Development and Export Authority (AIDEA), which regularly provides financing to public-private partnerships to facilitate infrastructure development and economic growth in the state.

In addition to power alternatives, Heatherdale is also investigating options for siting ore processing facilities, including the option of barging ore from Niblack to a suitable offsite location. Several regional institutions and public entities in southeast Alaska are actively working with Heatherdale as it seeks to identify candidate sites with suitable topography, and access to hydroelectric power, tidewater, and a commuter workforce.

“While it’s early days, we believe Niblack will require the provision of some 3.5 megawatts of power to operate a 1,500 to 2,000 ton-per-day underground mine, and another 8 megawatts to operate a mill and processing plant,” Smith said. “The final identification, permitting, development and realization of these facilities and services will take a number of years to accomplish, but we already have an impressive suite of local entities and institutions who are working collaboratively with us to identify the optimum solutions.”

Smith said Heatherdale’s efforts to identify sites that meet specific criteria for development of a processing plant and tailings storage facility for the Niblack Project have been met with positive encouragement from a broad range of local entities. He expressed confidence that offsite milling is a viable option for Niblack, particularly given the proactive assistance being provided by state and regional institutions.

“To the greatest degree possible, we want the Niblack Project to benefit the people and communities of Southeast Alaska,” Smith said. “Since day one, the priority at Niblack has been to employ local people, contract local companies and pursue local partnerships. We have every expectation that the attention we’ve paid to being a good neighbor now will be acknowledged in the future as the Niblack Project proceeds through permitting and into construction and operations.”

Heatherdale has made a strong effort in 2011 to meet with and provide status reports to community, tribal and Alaska Native corporation leaders from all of the island’s main communities – including Craig, Klawock, Kasaan and Hydaburg. Since the outset of its involvement with Niblack in 2009, the Company has maintained a significant commercial partnership with the Prince of Wales Tribal Enterprise Consortium (POWTEC LLC) – an on-island limited liability company owned by the Craig Tribal Association and the Organized Village of Kasaan – for the provision of Human Resources recruitment and administrative services. Through POWTEC, Heatherdale has trained and employed some 36 local people over the past three years.

“From the outset, Heatherdale has made it clear that it wants its mineral development activities on Prince of Wales Island to benefit local people and communities through local hire and contracting,” said POWTEC CEO Bill Cole. “We’ve been pleased to be a significant partner with them in achieving that goal during the project development phase, and we look forward to the day when Niblack advances to construction and operations. The economic development and partnership opportunities that this project represents for our company, our employees and shareholders, and all of southeast Alaska, are really tremendous.”

Niblack’s location at tidewater on Prince of Wales Island in southeast Alaska presents a number of project benefits, including year-round marine access, a well-trained labor force, a mature supply and service sector, proximity to Asian markets, and the support of community and Alaska Native corporation partners. The project is located 27 miles (44 kilometres) from Ketchikan, a community of 8,000 people with important services to support project development, including a deep-water port and international airport. The State’s burgeoning minerals industry also enjoys a competitive tax regime and stable, predictable permitting and regulatory oversight coordinated by the Alaska Department of Natural Resources’ ‘Large Mine Permitting Team.’ For reference, Hecla’s Greens Creek mine, a 2,100 ton-per-day underground operation, operates 225 miles (370 kilometres) to the northwest of Niblack on Admiralty Island.

About Niblack Mineral Development Inc.

Niblack Mineral Development Inc. (TSX-V: NIB) is an exploration and development company with a number of mineral rich assets in South East Alaska.  The Company’s principal asset is its interest in the advanced stage copper-gold-zinc-silver Niblack Project.  This project is currently in a joint venture operated by Heatherdale. On October 25, 2011, Niblack and Heatherdale entered into a definitive arrangement agreement (the "Arrangement Agreement"), which provides that Heatherdale will acquire all of the common shares of Niblack in exchange for Heatherdale shares, on the basis of 0.50 Heatherdale share per Niblack common share.

Niblack Mineral Development Inc. is a member of the Discovery Group of companies, for more information on the group visit www.discoveryexp.com.

On behalf of the Board
Niblack Mineral Development Inc.
/s/"John Williamson"
President, CEO & Director

For further information about Niblack Mineral Development Inc. or this news release, please contact:

Brian Budd
Director of Corp. Development
Email: brianb@niblack.com
Tel. 604-697-2861
Website: www.niblack.com Mobile URL: m.niblack.com

"Neither 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 release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, exploitation activities and events or developments that the company expects are forward looking statements. Although the company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.

33% GAIN IN INDICATED CATEGORY ADVANCES PENDING PRELIMINARY ECONOMIC ASSESSMENT

November  29, 2011, Vancouver, BC – Niblack Mineral Development Inc. (TSX-V: NIB) or “the Company”  and joint venture partner, Heatherdale Resources Ltd. (TSX-V: HTR) announce a new mineral resource estimate for the Lookout and adjacent Trio deposits at the Niblack copper-gold-zinc-silver project in southeast Alaska, increasing total resource tonnes estimated at previous February 2011 metal prices in all categories by 31%.

Lookout and Trio are two of six known polymetallic volcanogenic massive sulphide (VMS) deposits within the 10 square-mile Niblack property, all of which remain open, and are candidates for future resource expansion. Based on underground delineation drilling completed during 2011, the new resource model outlines a 33% increase in the Indicated Resource tonnes for the Lookout Deposit, while Inferred Resources at the Trio Deposit have increased by 29%.

The updated mineral resource represents a significant milestone for the joint venture and the Niblack Project and has resulted in a more refined understanding of the geometry and grade of the deposits. The new resource model is expected to significantly enhance the accuracy and longevity of the mine model currently being developed within the Niblack Project Preliminary Economic Assessment (PEA) study.

The sizable increase in the volume of defined resources will provide the impetus for completion of a technically and financially robust PEA for the Niblack Project, which is expected to be completed early in 2012.

The new mineral resource estimate for the Lookout and Trio deposits is based on drilling completed to November 4, 2011, and includes a database of 373 drill holes. Mineralization has been modeled as sub-seafloor replacement and accumulation-style VMS deposits. The new estimate utilizes three-dimensional geostatistical modeling techniques and estimation parameters based on careful study of the geologic setting at Niblack.

Mineral resources at a US$50 NSR cutoff and updated long-term metal prices are tabulated below.

Notes: US$50 Net Smelter Return (NSR) cutoff uses long-term metal forecasts: gold US$1150/oz, silver US$20.00/oz, copper US$2.50/lb, and zinc US$1.00/lb; Recoveries (used for all NSR calculations) to Cu concentrate of 95% Cu, 56% Au and 53% Ag with payable metal factors of 96.5% for Cu, 90.7% for Au, and 89.5% for Ag; to Zn concentrate of 93% Zn, 16% Au, and 24% Ag with payable metal factors of 85% for Zn, 80% for Au and 20% for Ag.  Detailed engineering studies will determine the best cutoff.

The expansion of Indicated Resources within the Lookout Deposit occurred along the eastern down-dip extension. The high-grade area in the central portion of the Lookout Deposit, considered to be ideal as a starter zone for successful underground mine development, was confirmed by delineation drilling. Current outlined dimensions of the Lookout Deposit are approximately 2,200 feet by 1,700 feet, with an average thickness of 70 feet.

The 29% expansion of Inferred Resource tonnage at the Trio Deposit further demonstrates the excellent potential for resource expansion at Niblack. Current outlined dimensions of the Trio Deposit are approximately 1,100 feet by 350 feet, with an average thickness of 220 feet.

In addition to defined tonnes and grade, the geometry and continuity of the Lookout and Trio deposits – in particular their thicknesses – make them attractive candidates for low-cost underground mining.

To date, 43-101 compliant mineral resource estimates have been prepared for the Lookout and Trio deposits, although there are four other known VMS deposits at Niblack – including Mammoth, Dama, Lindsy and the historic Niblack mine. All deposits, including Lookout and Trio, remain open and are candidates for future resource expansion.

A graphic representation of the Lookout and Trio deposits is available at: http://niblack.com/project_areas/united_states/niblack/

A technical report documenting the results of the new mineral resource estimate will be filed at www.sedar.com.

Resource estimates were completed by Deon Van Der Heever, Pr. Sci. Nat., Senior Manager Mineral Resources for Hunter Dickinson Inc. (HDI), a Qualified Person who is not independent of the Company. The 2011 mineral resource estimates were reviewed and verified by SRK Consulting (SRK).  SRK will follow up with the updated NI-43-101 technical report.  

About Niblack Mineral Development Inc.
Niblack Mineral Development Inc. (TSX-V: NIB) is an exploration and development company with a number of mineral rich assets in South East Alaska.  The Company’s principal asset is its interest in the advanced stage copper-gold-zinc-silver Niblack Project.  This project is currently in a joint venture operated by Heatherdale. On October 25, 2011, Niblack and Heatherdale entered into a definitive arrangement agreement (the "Arrangement Agreement"), which provides that Heatherdale will acquire all of the common shares of Niblack in exchange for Heatherdale shares, on the basis of 0.50 Heatherdale share per Niblack common share.

Peter Kleespies, P.Geol., a Qualified Person as defined under National Instrument 43-101, is supervising the exploration and quality assurance and quality control programs on behalf of Niblack and has reviewed and approved the content of this release.

Niblack Mineral Development Inc. is a member of the Discovery Group of companies, for more information on the group visit www.discoveryexp.com.

On behalf of the Board
Niblack Mineral Development Inc.
/s/"John Williamson"
President, CEO & Director

For further information about Niblack Mineral Development Inc. or this news release, please contact:

Brian Budd
Director of Corp. Development
Email: brianb@niblack.com
Tel. 604-697-2861
Website: www.niblack.com Mobile URL: m.niblack.com

Sample preparation and analysis for the Niblack project is done at ISO 9001 accredited ALS Chemex laboratories in Vancouver, BC. All samples are assayed for gold by 30 g fire assay fusion with Atomic Absorption Spectroscopy (AAS) finish. Copper, silver, zinc, lead and 29 additional elements are determined for all samples by four acid digestion, followed by ICP-AES finish. All over-limit copper, zinc or lead results (greater than 10%) and all over-limit silver results (greater than 200 grams per tonne) are re-assayed by high grade single element four acid digestion ICP-AES or AAS analysis. As part of a comprehensive QA/QC program, one standard is inserted into the sample stream in each group of 20 samples, as well as one or more field blanks in each analytical batch. One sample in each group of 20 is a duplicate, which is analyzed by Acme Analytical Laboratories in Vancouver.

"Neither 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 release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, exploitation activities and events or developments that the company expects are forward looking statements. Although the company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.

Niblack Project Additional Resources (PDF)

October 31, 2011, Vancouver, BC - Niblack Mineral Development Inc. (TSX-V:NIB) or “the company” announces additional positive results completed by joint venture partner Heatherdale Resources Ltd. (TSX-V:HTR) from delineation and exploration drill holes completed during the 2011 spring and summer program at the Niblack volcanogenic massive sulphide (VMS) project in southeast Alaska. Significant intersections of copper, gold, zinc and silver were encountered in several of the holes. 

Highlights include:
Hole U131 - 26.8 feet of 4.66% Cu; 13.57 g/t Au; 15.26% Zn; and 302 g/t Ag
Hole U132 - 44.6 feet of 2.54% Cu; 5.54 g/t Au; 10.96% Zn; and 126 g/t Ag
Hole U136 - 35.7 feet of 4.60% Cu; 5.68 g/t Au; 10.00% Zn; and 141 g/t Ag

Three drill rigs were utilized to complete the 21,300 feet of drilling described in this news release.  Two underground drill rigs were active continuously throughout the program, to explore for and delineate resources in the Lookout and Trio Zones. Several of the holes were directed toward collection of samples for metallurgical testwork.  In addition in May and June 2011, a helicopter-supported surface drill rig was added to the program to test several of the compelling exploration targets in the area of the historic Niblack Mine, as well as the Trio and Broadgage zones.

The 10 delineation holes drilled from underground in the Lookout Zone have reaffirmed the robustness of the mineralization at Niblack. Drill core collected from this program will also be utilized to advance understanding of the project metallurgy, and support engineering studies toward completion of a Prefeasibility Study. The additional data and information received from these drill holes will be incorporated into a new resource estimate.

Three exploration holes drilled from underground firmly established the continuity of the mineralization hosting felsic horizon between the Lookout and Trio zones as well as to the northwest of the Lookout Zone, and have also provided positive indicators for the next stage of drilling in these areas.

Of the seven surface exploration holes reported here, six tested the felsic horizon in the Trio-Broadgage area and one hole targeted the area proximal to the historic Niblack Mine.  The detailed geologic model has been validated from this drilling and six of the seven holes intersected sulphide mineralization that will guide the next round of exploration drilling. The mineralization encountered in hole S148, which intersected 22 feet grading 0.53% copper and 1.54 g/t gold, has provided important information about the plunge direction of the mineralization in the Trio zone.

Important intersections from these 20 new holes are presented in the Niblack Assay Table below. Assays from these as well as the first 100 holes drilled (released previously) and a drill hole location section are available on the Niblack website at http://niblack.com/project_areas/united_states/niblack/

NIBLACK ASSAY TABLE

No significant results were encountered in holes U129, S137, U138, S140, U141, S143-145, S147 and S147A
Holes denoted with a “U” above were drilled from stations spaced along an adit and are drilled with a range of different azimuths and dips. Holes denoted with an “S” were drilled from surface.  Underground drilling proceeded in fan patterns from drill stations.  True widths of intersections have not yet been accurately established.

Please click on the links provided below to view the addressed figures.

• http://niblack.com/_resources/HTR_NR_NIB_SurfaceDrilling_Oct2011.pdf
• http://niblack.com/_resources/HTR_NR_NIB_UGDrilling_Oct2011.pdf

About Niblack Mineral Development Inc.

Niblack Mineral Development Inc. (NIB: TSX-V) is an exploration and development company with a number of mineral rich assets in South East Alaska.  The Company’s principal asset is its interest in the advanced stage copper-gold-zinc-silver Niblack Project.  This project is currently in a joint venture operated by Heatherdale.

Peter Kleespies, P.Geol., a Qualified Person as defined under National Instrument 43-101, is supervising the exploration and quality assurance and quality control programs on behalf of Niblack and has reviewed the content of this release.

Niblack Mineral Development Inc. is a member of the Discovery Group of companies, for more information on the group visit www.discoveryexp.com.

On behalf of the Board

Niblack Mineral Development Inc.
 
/s/"John Williamson"
President, CEO & Director

For further information about Niblack Mineral Development Inc. or this news release, please contact:

Brian Budd
Director of Corp. Development
Email: brianb@niblack.com
Tel. 604-697-2861
Website: www.niblack.com Mobile URL: m.niblack.com

Sample preparation and analysis for the Niblack project is done at ISO 9001 accredited ALS Chemex laboratories in Vancouver, BC. All samples are assayed for gold by 30 g fire assay fusion with Atomic Absorption Spectroscopy (AAS) finish. Copper, silver, zinc, lead and 29 additional elements are determined for all samples by four acid digestion, followed by ICP-AES finish. All over-limit copper, zinc or lead results (greater than 10%) and all over-limit silver results (greater than 200 grams per tonne) are re-assayed by high grade single element four acid digestion ICP-AES or AAS analysis. As part of a comprehensive QA/QC program, one standard is inserted into the sample stream in each group of 20 samples, as well as one or more field blanks in each analytical batch. One sample in each group of 20 is a duplicate, which is analyzed by Acme Analytical Laboratories in Vancouver.

"Neither 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 release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, exploitation activities and events or developments that the company expects are forward looking statements. Although the company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings are available at www.sedar.com.

October 26, 2011 – Edmonton, Alberta - Niblack Mineral Development Inc. (TSX-V: NIB) (“Niblack” or the “Company”) and Heatherdale Resources Ltd. (TSX-V: HTR) (“Heatherdale”) announced on October 5, 2011 that they had entered into a non-binding letter of agreement providing for Heatherdale to acquire all of the outstanding common shares of Niblack by way of a plan of arrangement (the “Arrangement”) under the Business Corporations Act (Alberta).

Niblack is pleased to announce that on October 25, 2011 it entered into a definitive arrangement agreement (the “Arrangement Agreement”) with Heatherdale which provides that Heatherdale will acquire all of the common shares of Niblack in exchange for Heatherdale shares, on the basis of 0.50 Heatherdale share per Niblack common share.  Based on the current number of Niblack shares outstanding, Niblack anticipates that approximately 18 million Heatherdale shares will be issued to complete the transaction.  Options and warrants of Niblack that are exercised before closing will also be entitled to participate in the transaction.  Each unexercised warrant outstanding at closing will be amended such that it will entitle the holder thereof to purchase the number of Heatherdale shares equal to 50% of the number of Niblack shares subject to such warrant, at an exercise price of C$1.20 in the case of warrants that have a current exercise price of C$0.45 and C$1.73 in the case of warrants that have a current exercise price of C$0.65.  All unexercised options will be cancelled for C$0.01 per option.

The Arrangement is subject to customary closing conditions, including the approval of 66 2/3% of the votes cast by shareholders, optionholders and warrantholders of Niblack (each voting separately), approval of the Arrangement by the Alberta court and regulatory approvals (including the approval of the TSX Venture Exchange (“TSX-V”)).

Under the terms of the Arrangement Agreement, Niblack has agreed that it will not solicit or otherwise participate in any discussions regarding any merger or other arrangement or sale of 20% or more of its common shares or assets representing 20% of more of the book value of Niblack’s consolidated assets until the Arrangement Agreement is terminated in accordance with its terms.  Niblack has also granted Heatherdale a right to propose an amendment to the terms of the Arrangement should Niblack receive a superior proposal from another party.

The Arrangement Agreement provides for a C$300,000 break fee, which would be payable by Niblack to Heatherdale in certain customary events, such as if the Niblack board of directors withdraws its support for the Arrangement, if Niblack securityholders do not approve the Arrangement in certain circumstances and Niblack later completes or accepts another acquisition proposal, or if Niblack enters into a definitive written agreement with respect to a superior proposal.

The Arrangement Agreement also provides that if Niblack fails to complete a private placement of up to 2,500,000 shares for aggregate proceeds of not less than C$500,000 by November 15, 2011, Heatherdale may make available to Niblack a loan of up to C$150,000 to pay operating and transaction expenses.

The share consideration offered by Heatherdale pursuant to the Arrangement Agreement represents an effective purchase price of C$0.26 per Niblack common share based on the 20-day volume-weighted average price of Heatherdale common shares on the TSX-V for the period ended October 25, 2011.  The Heatherdale share consideration being offered represents a C$0.02 premium to the volume-weighted average price of Niblack common shares on the TSX-V for the 20-day period ended October 25, 2011 and a C$0.10 premium based on the closing price of the Niblack common shares on the TSX-V on October 4, 2011, the last trading day prior to the announcement of the Arrangement.

The directors and officers of Niblack have entered into voting support agreements with Heatherdale under which they have agreed, subject to the terms and conditions contained therein, to vote an aggregate of 2,848,029 common shares, 2,175,000 stock options and 544,000 warrants of Niblack held or controlled by them in favour of the Arrangement. This represents approximately 7.9% of the outstanding common shares, 74.3% of the outstanding options and 13.2% of the outstanding warrants of Niblack.

Canaccord Genuity Corp. has provided a fairness opinion to the Niblack board to the effect that the consideration offered for the Niblack shares is fair, from a financial point of view, to the Niblack shareholders.

The board of directors of Niblack, after consultation with Niblack’s financial and legal advisors, has determined that the Arrangement is in the best interests of Niblack and is fair to the Niblack securityholders, and unanimously recommends that Niblack securityholders vote in favour of the Arrangement.

Niblack is in the process of preparing an information circular relating to the Arrangement.  Niblack currently anticipates that the information circular will be mailed to its securityholders in mid-November and that a special meeting of securityholders to consider the Arrangement will be held on or about December 15, 2011.  Subject to obtaining securityholder and court approvals, it is expected that the Arrangement will be completed prior to the end of December.

About Niblack Mineral Development Inc.

Niblack Mineral Development Inc. (NIB: TSX-V) is an exploration and development company with a number of mineral rich assets in South East Alaska.  The Company’s principal asset is its interest in the advanced stage copper-gold-zinc-silver Niblack Project.  This project is currently in a joint venture operated by Heatherdale.

For further details, please visit the company website at www.niblack.com or contact investor services at (604) 697-2861.  Niblack Mineral Development Inc. is a member of the Discovery Group of companies.  For more information on the group visit www.discoveryexp.com.

On behalf of the Board of Directors
John Williamson
President & CEO of Niblack

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 release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, exploitation activities and events or developments that the Company expects, including the completion of the acquisition described herein, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future events or performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, potential environmental issues and liabilities associated with exploration, development and mining activities, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, continued availability of capital and financing, general economic, market or business conditions and any failure to obtain the shareholder and court approvals, described hereinabove, which are necessary to complete the transaction herein described . Investors are cautioned that any such statements are not guarantees of future events or performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.

October 5, 2011, Vancouver, BC - Heatherdale Resources Ltd. (“Heatherdale”) (TSXV: HTR) and Niblack Mineral Development Inc. (“Niblack”) (TSXV: NIB) jointly announce that Heatherdale intends to acquire all of the outstanding shares of Niblack.

On August 23, 2011, Heatherdale, Niblack and certain of their respective subsidiaries entered into a non-binding letter agreement pursuant to which they agreed to carry out due diligence reviews on each other with a view to concluding a transaction by which Heatherdale would acquire all Niblack common shares in exchange for Heatherdale common shares, and agreed to deal exclusively with each other with respect to the transaction until October 23, 2011.

The parties have completed their due diligence reviews and have agreed in principle that, subject to the board, shareholder and court approvals described below, Heatherdale will acquire all of the common shares of Niblack in exchange for Heatherdale shares, on the basis of 0.50 Heatherdale shares per Niblack common share.  Based on the current number of outstanding shares in Niblack, Heatherdale anticipates issuing approximately 18 million shares to complete the transaction.  Options and warrants that are converted to Niblack shares before closing will be entitled to participate in the transaction.  Each unexercised warrant of Niblack will be amended so that it will entitle the holder thereof to purchase a number of Heatherdale shares equal to 50% of the number of Niblack shares subject to such warrant, at an exercise price of $1.20 in the case of warrants that have a current exercise price of $0.45 and $1.73 in the case of warrants that have current exercise price of $0.65.  All unexercised options will be cancelled for $0.01 per option.

Heatherdale and Niblack expect to effect the transaction by means of an arrangement under the Alberta Business Corporations Act.  The transaction is subject to negotiation of a definitive arrangement agreement, receipt of a favourable fairness opinion by the Niblack board, approval by Heatherdale’s board of directors, and 66-2/3% of votes cast by Niblack’s shareholders and its optionholders and warrantholders, as well as approval of the arrangement by the Alberta Court of Queen’s Bench.

Niblack has engaged Canaccord Genuity Corp. to deliver a fairness opinion in connection with the transaction.

Heatherdale and Niblack currently hold 60% and 40% interests, respectively, in the advanced exploration stage Niblack Project.  Significant mineral resources have been outlined in two of the six known copper-gold-zinc-silver volcanogenic massive sulphide ("VMS") deposits on the Niblack property that have laid the foundation for engineering and scoping studies that have been initiated in 2011.

“After three years of successfully operating the Niblack Project as a joint venture, the boards of directors of Heatherdale and Niblack have agreed that the best way to efficiently advance development of the Niblack Project is to consolidate project interests into one company,” said Heatherdale Chairman Scott Cousens.

“During this time we have had an excellent working relationship with the professional team at Niblack, and through our joint efforts we have achieved a number of milestones at the Niblack Project over the past 24 months, including a significant increase in mineral resources and establishing the veracity of our geological model through discovery of new zones.  Work is now focused on progressing with engineering work toward completion of a Preliminary Economic Assessment for the project." 

"Having reached the next stage at the Niblack project, we believe that this transaction will provide Niblack investors, along with Heatherdale investors, with the opportunity to participate in the future growth of the combined company,” added Cousens.

"The offer will provide Niblack shareholders with increased value provided through ownership of shares in a well structured company which is operated by strong management with years of Alaskan development experience." stated John Williamson, CEO and President of Niblack.

Pursuant to the August 2011 letter agreement, Heatherdale agreed to sole fund the Niblack Project until the earlier of completion of the transaction, or 60 days after the termination of the letter agreement or the definitive agreement relating to the transaction (as applicable), and Niblack will not be required to make any cash contributions to the Niblack Project until such date.

About Heatherdale Resources Ltd.

Heatherdale Resources Ltd. (HTR: TSX-V) also has a 60% interest, with options to acquire a 100% interest, in a second Alaska prospect that complements Niblack and also provides a longer-term development opportunity. The mid-stage Delta Project is located in east-central Alaska.  The 39,840-acre Delta property hosts several massive sulphide occurrences, some with inferred mineral resources, and excellent untested exploration potential.

Heatherdale is associated with the Hunter Dickinson group, a private company with a track record of successful mineral exploration and development projects around the world.  For further details, please visit the company website at www.heatherdaleresources.com  or contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114.

About Niblack Mineral Development Inc.

Niblack Mineral Development Inc. (NIB: TSX-V) is an exploration and development company with a number of mineral rich assets in South East Alaska.  The Corporation’s principal asset is the Niblack advanced stage copper-gold-zinc-silver Project. This project is currently in a joint venture operated by Heatherdale.

For further details, please visit the company website at www.niblack.com or contact investor services at (604) 697-2861. Niblack Mineral Development Inc. is a member of the Discovery Group of companies, for more information on the group visit www.discoveryexp.com.

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 release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, exploitation activities and events or developments that the company expects, including the completion of the acquisition described herein, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future events or performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, potential environmental issues and liabilities associated with exploration, development and mining activities, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, continued availability of capital and financing, general economic, market or business conditions and any failure to obtain the director, shareholder and court approvals, described hereinabove, which are necessary to complete the transaction herein described . Investors are cautioned that any such statements are not guarantees of future events or performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.

“We look forward to working with Heatherdale and utilizing the resources of both groups to expedite the advancement of the Niblack Project toward the prefeasibility stage,” stated Niblack’s President and CEO, John Williamson.

Heatherdale has advised Niblack that it has elected to pursue the property development under a 60/40 joint venture rather than continue to earn a larger percentage interest at this time.  Heatherdale and Niblack have approved a budget going forward and Heatherdale has agreed to sole fund operations for a 60 day period to facilitate the uninterrupted continuation of the current exploration program.

Since its formation in June 2009, the joint venture has completed some 130,000 feet of underground drilling at the Niblack Project and work programs have been very successful.  Earlier this year, the joint venture announced a 54% increase in mineral resources in the Lookout and Trio deposit over those known to exist in 2009.  At a US$50 NSR cut off1, the March 2011 estimate comprises 4.1 million tonnes of Indicated resources grading 1.13% copper, 2.32 g/t gold, 2.27% zinc and 38.70 g/t silver and 2.5 million tonnes of Inferred resources grading 1.21% copper, 1.77 g/t gold, 2.29% zinc and 25.90 g/t silver.  A continuous 1.5 million-tonne high-grade zone occurs within the indicated resource, grading 1.73% copper, 3.50 g/t gold, 3.84% zinc and 61.60 g/t silver at US$150 NSR cutoff (see March 7, 2011 news release). 

These resources laid the foundation for advancing the project to the next stage of engineering and scoping studies, which are a part of the 2011 program.  Further, recent results from drilling have confirmed that the geological model for the project is robust and successfully targeting new mineralization.  In particular, a new zone has been intersected in drilling (see July 28, 2011 news release) that is expected to add to the mineral resources.  As only approximately 1/4 of the six miles of prospective horizon that hosts the Niblack deposits has been tested by drilling, there is significant additional resource potential on the property.

The location of the Niblack Project at tidewater on Prince of Wales Island in southeast Alaska presents a number of project benefits, including year-round marine access, a well-trained labour force, a mature supply and service sector, proximity to Asian markets, and the support of community and Alaska Native corporation partners.  The project is located 27 miles (44 km) from Ketchikan, a community of 8000 people with important services to support project development, including a deep water port and international airport.  The State’s burgeoning minerals industry also enjoys a competitive tax regime and stable, predictable permitting and regulatory oversight coordinated by the Alaska Department of Natural Resources’ ‘Large Mine Permitting Team’.  For reference, Hecla's Greens Creek, a 2,100-ton per day underground massive sulphide mine, operates 225 miles (370 km) to the northwest of Niblack on Admirality Island.

Peter Kleespies, P.Geol., a Qualified Person as defined under National Instrument 43-101, is supervising the exploration and quality assurance and quality control programs on behalf of Niblack and has reviewed the content of this release.

About Niblack Mineral Development Inc.

Niblack Mineral Development Inc. (NIB: TSX-V) is an exploration and development company with a number of mineral rich assets in South East Alaska.  The Corporation’s principal asset is the Niblack advanced stage copper-gold-zinc-silver project. This project is currently a joint venture operated by Heatherdale Resources Ltd. (part of the Hunter Dickinson group of companies) which has earned a 60% interest in the project.

Niblack Mineral Development Inc. is a member of the Discovery Group of companies, for more information on the group visit www.discoveryexp.com.

On behalf of the Board

Niblack Mineral Development Inc.

/s/”John Williamson”

President, CEO & Director

For further information about Niblack Mineral Development Inc. or this news release, please contact:

Brian Budd
Director of Corp. Development
Email: brianb@niblack.com   
Tel. 604-697-2861 or toll-free 1-888-331-2269
Website: www.niblack.com  Mobile URL: m.niblack.com

"Neither 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 release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, exploitation activities and events or developments that the company expects are forward looking statements. Although the company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.

Augusts 22, 2011, Edmonton, AB – Niblack Mineral Development Inc. (“Niblack” or the “Company”) (TSXV: NIB) and joint venture partner Heatherdale Resources Ltd. (Heatherdale) (TSXV: HTR) ) are pleased to report that on August 16, 2011 the US Forest Service Alaska Regional Forester Beth Pendleton announced that exploration drilling at the Niblack Project has been approved to go forward. The permitting approval allows the joint venture to drill test several high priority exploration targets located on federal lands designated as inventoried roadless area. This will complement and significantly enhance the ongoing exploration program at the Niblack Project.

“Today, Forest Service Chief Tom Tidwell approved geotechnical and exploration drilling in inventoried roadless areas for the Greens Creek Mine and the Niblack Mine exploration projects,” said Pendleton. “This approval will allow Greens Creek to continue the expansion of its tailings site and Niblack to continue its exploration.”

“These two projects will help employ Alaskans on important projects while providing crucial environmental safeguards," said Harris Sherman, Undersecretary for Natural Resources and the Environment at the US Department of Agriculture.  "Both the Niblack and Greens Creek projects will have minimal footprints -- less than an acre apiece -- with the potential for substantial boosts to local economies."

The joint venture would like to acknowledge the combined efforts of the Alaska Governor, Congressional delegation, the USDA and the local USFS in obtaining these approvals. We particularly appreciate the strong show of support from Governor Parnell and from Senator Mark Begich. This priority permitting will allow the technical team to test high priority targets that can be best accessed by helicopter supported drilling before the end of the field season.

There are currently two underground drills operating at the Niblack Project. The surface drilling program initiated in late May to focus on targets accessible from patented mining claims on the property was put on hiatus. The current approval from the US Forest Service means that the drill program will resume in Q3/Q4.

Peter Kleespies, P.Geol., a Qualified Person as defined under National Instrument 43-101, is supervising the exploration and quality assurance and quality control programs on behalf of Niblack and has reviewed the content of this release.

About Niblack Mineral Development Inc.

Niblack Mineral Development Inc. (NIB: TSX-V) is an exploration and development company with a number of mineral rich assets in South East Alaska.  The Corporation’s principal asset is the Niblack advanced stage copper-gold-zinc-silver project. This project is currently joint ventured to and operated by Heatherdale Resources Ltd. (part of the Hunter Dickinson group of companies) which has the right to earn up to a 70% interest in the project.

Niblack Mineral Development Inc. is a member of the Discovery Group of companies, for more information on the group visit www.discoveryexp.com.

On behalf of the Board
Niblack Mineral Development Inc.
/s/”John Williamson”
President, CEO & Director
For further information about Niblack Mineral Development Inc. or this news release, please contact:

Brian Budd
Director of Corp. Development
Email: brianb@niblack.com   
Tel. 604-697-2861 or toll-free 1-888-331-2269
Website: www.niblack.com  Mobile URL: m.niblack.com

"Neither 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 release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, exploitation activities and events or developments that the company expects are forward looking statements. Although the company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.

To date, Heatherdale has completed 129,985 feet of underground drilling in 100 holes at Niblack using two rigs. At March 2011, 308 holes (drilled from surface and underground) were used to estimate the mineral resources for the Lookout and Trio deposits (see March 7, 2011 news release). At a US$50 NSR cut off , the estimate comprises 4.1 million tonnes of Indicated resources grading 1.13% copper, 2.32 g/t gold, 2.27% zinc and 38.70 g/t silver and 2.5 million tonnes of Inferred resources grading 1.21% copper, 1.77 g/t gold, 2.29% zinc and 25.90 g/t silver. A continuous 1.5 million-tonne high-grade zone occurs within the indicated resource, grading 1.73% copper, 3.50 g/t gold, 3.84% zinc and 61.60 g/t silver (at US$150 NSR cutoff).

The results show that the geological model for Niblack is successfully targeting new mineralization. Key intersections were encountered in the Lookout deposit (U128), the Mammoth zone (U112 and U114), and a new zone between the Lookout and Trio deposits (U110, U113, U117, U121 and U123), which are presented in the Niblack Assay Table below. Drill hole location maps are available at http://niblack.com/project_areas/united_states/niblack/

NIBLACK ASSAY TABLE

No significant results U105-U109, U111, U115, U116, U118-120, U122, U125-127; Assays pending for U124B

Drilling proceeded in fan patterns from underground drill stations. True widths of intersections have not yet been accurately established.

Lookout Deposit

Hole U128 was drilled to further define the resource model in the southwest part of the Lookout deposit. Mineralization was encountered three times in the hole; the most significant intersection is 45 feet grading 1.06% copper, 1.66 g/t gold, 1.85% zinc and 31 g/t silver and including a 19-foot interval of higher copper and gold grades.

Mammoth Zone

The exploration drift is collared into the Mammoth zone. It sits within the prospective felsic stratigraphy, approximately 3,000 feet northwest of the Trio deposit. Historically, narrow widths of sea floor accumulation style mineralization were intersected in several holes in this area but limited drill efforts had been made to extend those intersections along strike or down dip. The Heatherdale team reviewed the historic data and designed a series of drill fans to better assess these mineralized zones. Significant intersections were encountered in drill holes U112 and U114, indicating good potential. Follow up drilling is required to delineate mineral resources at Mammoth.

New Zone between Lookout and Trio with high gold grades

A series of six holes were drilled to target deeper mineralization in the felsic sequence that lies between the Trio and Lookout deposits, testing an exploration hypothesis for a repetitive zone of mineralization at depth beyond the Lookout deposit. Five of the six holes encountered mineralization, including Hole U123, which intersected copper grades of 1.67%, high grade gold of 19.51 g/t, and significant silver grades of 263 g/t over 7.8 feet. This new zone will add to the overall tonnage estimate for the deposit. The zone remains open and drill testing is ongoing.

Modeling has shown that the host horizon extends over 6 miles (10 km) on the property, of which only about 1.2 miles (2 km) has been well tested by the successful drilling campaigns in the Lookout area. A summer program of surface work, including detailed geological mapping, sampling and diamond drilling has commenced, designed to test additional priority targets along the favorable felsic stratigraphy.

"Drilling over the past two years has affirmed the potential of the Niblack Project. The volume and grade of mineral resources at Lookout and Trio announced earlier this year, established a base to advance the project. Exceptional potential exists to build on this threshold of mineral resources as shown by today's results. Initial engineering and technical studies for the completion of a Preliminary Economic Assessment, as well as the foundation for a prefeasibility study for the project are also underway," said Niblack President and CEO John Williamson. "This work is progressing well, with additional releases of results to come over the next few months."

Niblack's location at tidewater on Prince of Wales Island in southeast Alaska presents a number of project benefits, including year-round marine access, a well-trained labour force, a mature supply and service sector, proximity to Asian markets, and the support of community and Alaska Native corporation partners. The project is located 27 miles (44 km) from Ketchikan, a community of 8000 people with important services to support project development, including a deep water port and international airport. The State's burgeoning minerals industry also enjoys a competitive tax regime and stable, predictable permitting and regulatory oversight coordinated by the Alaska Department of Natural Resources' 'Large Mine Permitting Team'. For reference, Hecla's Greens Creek, a 2,100-ton per day underground massive sulphide mine, operates 225 miles (370 km) to the northwest of Niblack on Admirality Island.

About Niblack Mineral Development Inc.

Niblack Mineral Development Inc. (NIB: TSX-V) is an exploration and development company with a number of mineral rich assets in South East Alaska. The Corporation's principal asset is the Niblack advanced stage copper-gold-zinc-silver project. Since June 30, 2009 the Niblack Project has been a joint venture managed by Heatherdale Resources Limited (a Hunter Dickinson Company), which has spent US$15 million to earn a 51% interest in the project and is currently sole funding exploration expenditures of US$10 million to increase their interest to a 60%, with an option to increase their interest to 70% by sole funding the completion of a bankable feasibility study.

Peter Kleespies, P.Geol., a Qualified Person as defined under National Instrument 43-101, is supervising the exploration and quality assurance and quality control programs on behalf of Niblack and has reviewed the content of this release.

Niblack Mineral Development Inc. is a member of the Discovery Group of companies, for more information on the group visit www.discoveryexp.com.

On behalf of the Board

Niblack Mineral Development Inc.

/s/"John Williamson"
President, CEO & Director

For further information about Niblack Mineral Development Inc. or this news release, please contact:

Brian Budd
Director of Corp. Development
Email: brianb@niblack.com
Tel. 604-697-2861
Website: www.niblack.com Mobile URL: m.niblack.com

Sample preparation and analysis for the Niblack project is done at ISO 9001 accredited ALS Chemex laboratories in Vancouver, BC. All samples are assayed for gold by 30 g fire assay fusion with Atomic Absorption Spectroscopy (AAS) finish. Copper, silver, zinc, lead and 29 additional elements are determined for all samples by four acid digestion, followed by ICP-AES finish. All over-limit copper, zinc or lead results (greater than 10%) and all over-limit silver results (greater than 200 grams per tonne) are re-assayed by high grade single element four acid digestion ICP-AES or AAS analysis. As part of a comprehensive QA/QC program, one standard is inserted into the sample stream in each group of 20 samples, as well as one or more field blanks in each analytical batch. One sample in each group of 20 is a duplicate, which is analyzed by Acme Analytical Laboratories in Vancouver.

"Neither 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 release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, exploitation activities and events or developments that the company expects are forward looking statements. Although the company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.

The new Niblack resource estimate in the indicated category reflects a substantial increase in total metal contained in the expanded Lookout and Trio deposits. Contained gold has increased by 59%, while silver, copper and zinc have grown by 86%, 53% and 66%, respectively.

In addition, ongoing drilling has delineated a 1.5 million tonne higher-grade zone (at a US $150 Net Smelter Return (NSR) cut-off) within the Lookout Deposit. This high-grade core is considered to be ideal as a starter-zone for successful underground mine development.

"Drilling activity at Niblack has been virtually nonstop over the past 15 months. The hard work directed toward understanding the geology and expanding the Lookout deposit has proven to be very successful. Mineral resources for the Niblack Project in both categories have increased when compared to the previous (July 2009) estimate. But more importantly, is the 60% rise in the indicated resources with respective 59% and 86% increases in contained gold and silver. The Lookout high grade zone could positively impact the initial years of production and the payback of capital,” said Niblack President and CEO John Williamson.

“This positive outcome demonstrates both the strength of our geological model and the robust nature of the mineralization within the Lookout deposit.  Further opportunities exist to expand the resources at Niblack with additional drilling.  Our current task is to continue to follow the mineralization at Lookout and Trio, which are still open, and to begin drill testing other high priority targets on the property."

The mineral resource estimate for the Lookout and Trio deposits is based on drilling completed to December 23, 2010, and includes 308 drill holes. Mineralization has been modeled as sub-seafloor replacement and accumulation style VMS deposits. The resource estimate utilizes three-dimensional modeling techniques and estimation parameters based on prior experience at Niblack. Mineral resources at a US$50 NSR cutoff and long-term metal prices, as estimated by geostatistical methods, are tabulated below.

Notes: US$50 Net Smelter Return (NSR) uses long-term metal forecasts: gold US$1050/oz, silver US$18.00/oz, copper US$2.50/lb, and zinc US$1.00/lb; Recoveries used to Cu concentrate of 95% Cu, 56% Au and 53% Ag with payable metal factors of 96.5% for Cu, 90.7% for Au, and 89.5% for Ag; to Zn concentrate of 93% Zn, 16% Au, and 24% Ag with payable metal factors of 85% for Zn, 80% for Au and 20% for Ag.  Detailed engineering studies will determine the best cutoff.

Building on the 2008 discovery of high-grade VMS mineralization within the Lookout Deposit, exploration and delineation drilling undertaken in 2009 and 2010 has achieved substantial increases to the size, grade and extent of the resource. The currently outlined dimensions of the Lookout Deposit are approximately 2,200 feet by 1,500 feet, with an average thickness of 55 feet.  The currently outlined dimensions of the Trio Deposit are approximately 750 feet by 400 feet, with an average thickness of 220 feet. In addition to tonnes and grade, the continuity and geometry of the Lookout and Trio deposits – in particular their thickness – makes them attractive candidates for low-cost underground mining.
The continuous, higher-grade zone of mineralization which has been outlined within the Lookout Deposit is tabulated below.   

To date, 43-101 compliant mineral resource estimates have only been prepared for the Lookout and Trio deposits, although there are four other known VMS deposits at Niblack – including Mammoth, Dama, Lindsy and Niblack. All of the deposits, including Lookout and Trio, remain open and are candidates for future resource expansion. Two drill rigs are currently active at the Niblack property as part of a comprehensive 2011 drilling program to further expand and delineate high-grade VMS mineralization within the Lookout, Trio and Mammoth deposits.

A graphic representation of the Lookout and Trio deposits is available at www.niblack.com.  A technical report documenting the results of the estimate will be filed at www.sedar.com within 45 days.

The Niblack property is located on Prince of Wales Island in southeast Alaska.  Niblack’s location at tidewater presents a number of project benefits, including year-round marine access, a well-trained labour force, a mature supply and service sector, proximity to Asian markets, and the support of community and Alaska Native corporation partners.  The project is located 27 miles (44 kilometres) from Ketchikan, a community of 8,000 people with important services to support project development, including a deep water port and international airport.  The State’s burgeoning minerals industry also enjoys a competitive tax regime and stable, predictable permitting and regulatory oversight coordinated by the Alaska Department of Natural Resources’, ‘Large Mine Permitting Team’.  For reference, Hecla’s Greens Creek, a 2,100-ton per day underground massive sulphide mine, operates 225 miles (370 kilometres) to the northwest of Niblack on Admiralty Island.

The resource estimates were completed by Deon Van Der Heever, Pr. Sci.  Nat., Senior Manager Mineral Resources for Hunter Dickinson Inc., a Qualified Person who is not independent of the Company.  The 2011 mineral resource estimates were assessed by Independent Qualified Person Marek Nowak P.Geo., of SRK Consulting.  The qualified persons reviewed and approved the contents of this news release. 

Peter Kleespies, P.Geol., a Qualified Person as defined under National Instrument 43-101, is supervising the exploration and quality assurance and quality control programs on behalf of Niblack and has reviewed the content of this release.

About Niblack Mineral Development Inc.

Niblack Mineral Development Inc. (NIB: TSX-V) is an exploration and development company with a number of mineral rich assets in South East Alaska.  The Company’s principal asset is the Niblack advanced stage copper-gold-zinc-silver project. This project is currently joint ventured to and operated by Heatherdale Resources Limited (a Hunter Dickinson Company) which has the right to earn up to a 70% interest in the project.

Niblack Mineral Development Inc. is a member of the Discovery Group of companies, for more information on the group visit www.discoveryexp.com.

On behalf of the Board
Niblack Mineral Development Inc.
/s/”John Williamson”
President, CEO & Director
For further information about Niblack Mineral Development Inc. or this news release, please contact:

Brian Budd
Director of Corp. Development
Email: brianb@niblack.com   
Tel. 604-646-4525 or toll-free 1-888-331-2269
Website: www.niblack.com  Mobile URL: m.niblack.com

"Neither 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 release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, exploitation activities and events or developments that the company expects are forward looking statements. Although the company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.

Information Concerning Estimates of Indicated and Inferred Resources
This news release uses the terms "indicated resources" and "inferred resources". Niblack advises investors that although these terms are recognized and required by Canadian regulations (under National Instrument 43-101 Standards of Disclosure for Mineral Projects), the U.S. Securities and Exchange Commission does not recognize them. Investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into reserves.  In addition, "inferred resources" have a great amount of uncertainty as to their existence, and economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or pre-feasibility studies, or economic studies except for Preliminary Assessment as defined under 43-101. Investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally mineable.

Highlights from the new results include:

U090 with 44.1 feet of 1.51% Cu; 1.71 g/t Au; 4.73% Zn; and 26 g/t Ag
U095 with 15.1 feet of 2.44% Cu; 2.78 g/t Au; 1.65% Zn; and 64 g/t Ag
U103 with 38.3 feet of 3.76% Cu; 5.36 g/t Au; 14.33% Zn; and 111 g/t Ag
including 14.7 feet of 7.01% Cu; 10.59 g/t Au; 20.48% Zn; and 191.93 g/t Ag

Two underground drill rigs were deployed throughout 2010, and are currently working to expand the precious metals enriched mineralized body located adjacent to the Lookout Zone.  The Lookout Zone is one of six known volcanogenic massive sulphide (VMS) deposits within the 10 square mile Niblack property. 

 “We are rapidly advancing our knowledge of the geology and mineralization on the Niblack Project with the ongoing two rig underground drill program. I am very impressed that the aggressive 2010 drill program has not only extended and expanded upon the Lookout Zone mineralization but has also encountered significant high grade intervals as exemplified drill hole U103. I am also very encouraged by the excellent thicknesses returning very good copper grades, plus significant gold, zinc and silver by-products that continue to be represented in the drill hole intercepts from the Lookout Zone,” said Niblack President & CEO John Williamson. “Another key result is evidence that the mineralization occurs as stacked sequences of replacement and massive sulphide zones. This combination adds both grade and tonnage to the deposit.”  

The successful 2010 drill program focused on expanding resources in the Lookout Zone. The 2011 drill program will continue with this effort but will also involve testing other compelling exploration targets identified by the geological team based on their growing understanding of the geology and mineralization on the property. 

“Many of the new target areas can also be drilled from underground by staging in the existing exploration drift, enabling the geologic team to test the new geological model during the next few months” stated Williamson.

The 91,800 feet of drilling in 76 drill holes that the Joint Venture has completed at Niblack since October 2009 was achieved from underground drill stations spaced along the adit.  Holes were laid out in a fan pattern at each station, and were designed to cross-cut the mineralized target horizon at a number of elevations in areas southwest and south of the Lookout deposit.  To date, the true widths of the intersections have not been accurately established; however, a new resource model is being developed that will corroborate the dimensions of the deposit outlined by drilling so far.  Several holes in the table without significant results missed the prospective felsic package that hosts the mineralization.  This knowledge has been incorporated into the deposit model and has resulted in new targets for drilling.

Important intersections from these 20 new holes are presented in the Niblack Assay Table below.  Assays from the first 56 holes drilled (released previously) and a drill hole location section are available on the Niblack website at http://niblack.com/_resources/htr_nr_nibmineral_jan2011.pdf.

TABLE OF ASSAY RESULTS

*Holes are drilled in a fan pattern from stations spaced along an adit and are drilled with a range of different azimuths and dips.

 Niblack’s location at tidewater on Prince of Wales Island in southeast Alaska presents a number of project benefits, including year-round marine access, a well-trained labour force, a mature supply and service sector, proximity to Asian markets, and the support of community and Alaska Native corporation partners.  The project is located 27 miles (44 kilometres) from Ketchikan, a community of 8,000 people with important services to support project development, including a deep water port and international airport.  The State’s burgeoning minerals industry also enjoys a competitive tax regime and stable, predictable permitting and regulatory oversight coordinated by the Alaska Department of Natural Resources’, ‘Large Mine Permitting Team’.  For reference, Hecla’s Greens Creek, a 2,100-ton per day underground massive sulphide mine, operates 225 miles (370 kilometres) to the northwest of Niblack on Admiralty Island.

Peter Kleespies, P.Geol., a Qualified Person as defined under National Instrument 43-101, is supervising the exploration and quality assurance and quality control programs on behalf of Niblack and has reviewed the content of this release.

About Niblack Mineral Development Inc.

Niblack Mineral Development Inc. (NIB: TSX-V) is an exploration and development company with a number of mineral rich assets in South East Alaska.  The Corporation’s principal asset is the Niblack advanced stage copper-gold-zinc-silver project. This project is currently joint ventured to and operated by Heatherdale Resources Limited (Hunter Dickinson Company) which has the right to earn up to a 70% interest in the project.

Niblack Mineral Development Inc. is a member of the Discovery Group of companies, for more information on the group visit www.discoveryexp.com.

On behalf of the Board
Niblack Mineral Development Inc.
/s/”John Williamson”
President, CEO & Director

For further information about Niblack Mineral Development Inc. or this news release, please contact:

Brian Budd
Director of Corp. Development
Email: brianb@niblack.com   
Tel. 604-646-4525 or toll-free 1-888-331-2269
Website: www.niblack.com  Mobile URL: m.niblack.com

Sample preparation and analysis for the Niblack project is done at ISO 9001 accredited ALS Chemex laboratories in Vancouver, BC. All samples are assayed for gold by 30 g fire assay fusion with Atomic Absorption Spectroscopy (AAS) finish. Copper, silver, zinc, lead and 29 additional elements are determined for all samples by four acid digestion, followed by ICP-AES finish. All over-limit copper, zinc or lead results (greater than 10%) and all over-limit silver results (greater than 200 grams per tonne) are re-assayed by high grade single element four acid digestion ICP-AES or AAS analysis. As part of a comprehensive QA/QC program, one standard is inserted into the sample stream in each group of 20 samples, as well as one or more field blanks in each analytical batch. One sample in each group of 20 is a duplicate, which is analyzed by Acme Analytical Laboratories in Vancouver.

"Neither 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 release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, exploitation activities and events or developments that the company expects are forward looking statements. Although the company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.

Pursuant to the June 2009 agreement (the “Agreement”) with Niblack Mineral Development Inc. (formerly CBR Gold Corp.), Heatherdale was required to spend US$15 million on exploration activities within three years to retain a 51% interest.  The joint venture rapidly advanced drilling and site investigations of the precious metals-enriched volcanogenic massive sulphide (“VMS”) project to achieve this milestone in approximately 17 months.  Two underground diamond drill rigs have been focused on delineating the copper-gold-silver-zinc mineral body at the Lookout Zone, one of six known VMS deposits within the 10 square mile Niblack Project.  Results for the well over 60,000 feet drilled have been released to date.  

Niblack Mineral Development Inc. has also been notified by Heatherdale of its election to spend an additional US$10 million to earn an additional 9% ownership interest (resulting in a total ownership Interest of 60%).  Additional underground drilling, engineering and environmental studies are planned for 2011, which are designed to advance the project toward feasibility.  Existing underground development at Niblack will facilitate the program of expanding and upgrading areas of known mineralization, as well as testing several new targets.

“Recent work demonstrates that the system has both size and grade potential. We are increasingly confident that Niblack will support a high-grade underground mining operation in the medium term,” said Heatherdale President and CEO Patrick Smith. “Beyond significant new mineral resources indicated by our work at Lookout, the information derived from drilling and other investigations has advanced our understanding and geological modeling of the overall Niblack system. Our geological team is applying this new understanding to develop targeting strategies for other deposits, with the expectation that near-term exploration and development programs will identify additional high-grade resources.”

Niblack’s location at tidewater on Prince of Wales Island in southeast Alaska presents a number of project benefits, including year-round marine access, a well-trained labour force, a mature supply and service sector, proximity to Asian markets, and the support of community and Alaska Native corporation partners.  The project is located 27 miles (44 kilometres) from Ketchikan, a community of 8,000 people with important services to support project development, including a deep water port and international airport.  The State’s burgeoning minerals industry also enjoys a competitive tax regime and stable, predictable permitting and regulatory oversight coordinated by the Alaska Department of Natural Resources’ ‘Large Mine Permitting Team’.  For reference, Hecla's Greens Creek, a 2,100-ton per day underground massive sulphide mine, operates 225 miles (370 kilometres) to the northwest of Niblack on Admiralty Island.

Peter Kleespies, P.Geol., a Qualified Person as defined under National Instrument 43-101, is supervising the exploration and quality assurance and quality control programs on behalf of Niblack and has reviewed the content of this release.

About Niblack Mineral Development Inc.

Niblack Mineral Development Inc. (NIB: TSX-V) is an exploration and development company with a number of mineral rich assets in South East Alaska.  The Corporation’s principal asset is the Niblack advanced stage copper-gold-zinc-silver project. This project is currently joint ventured to and operated by Heatherdale Resources Limited (a Hunter Dickinson Company) which has the right to earn up to a 70% interest in the project.

Niblack Mineral Development Inc. is a member of the Discovery Group of companies, for more information on the group visit www.discoveryexp.com.

On behalf of the Board
Niblack Mineral Development Inc.
/s/”John Williamson”
President, CEO & Director
For further information about Niblack Mineral Development Inc. or this news release, please contact:

Brian Budd
Director of Corp. Development
Email: brianb@niblack.com   
Tel. 604-646-4525 or toll-free 1-888-331-2269
Website: www.niblack.com  Mobile URL: m.niblack.com

Sample preparation and analysis for the Niblack project is done at ISO 9001 accredited ALS Chemex laboratories in Vancouver, BC. All samples are assayed for gold by 30 g fire assay fusion with Atomic Absorption Spectroscopy (AAS) finish. Copper, silver, zinc, lead and 29 additional elements are determined for all samples by four acid digestion, followed by ICP-AES finish. All over-limit copper, zinc or lead results (greater than 10%) and all over-limit silver results (greater than 200 grams per tonne) are re-assayed by high grade single element four acid digestion ICP-AES or AAS analysis. As part of a comprehensive QA/QC program, one standard is inserted into the sample stream in each group of 20 samples, as well as one or more field blanks in each analytical batch. One sample in each group of 20 is a duplicate, which is analyzed by Acme Analytical Laboratories in Vancouver.

"Neither 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 release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, exploitation activities and events or developments that the company expects are forward looking statements. Although the company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.

“These new results continue to validate the geological team’s understanding of the nature of this strongly mineralized precious metals enhanced system and strengthen our belief that Niblack, with its stacked sulphide horizons, will support a high-grade underground mine in future” stated John Williamson, President and CEO of Niblack Mineral Development Inc.. “Since October 2009 the joint venture has completed 62,500 feet of drilling in 56 drill holes, and done extensive re-evaluation of the historic drilling and surface data at the project. This work has resulted in the expansion of the Lookout precious metals-enhanced mineralized body and has demonstrated the strength and continuity of the stacked sequences of sub-seafloor replacement and massive sulphide seafloor accumulation style mineralization. More importantly the joint venture has clearly improved its confidence in the geology which has led to the development of a new geological model and targeting strategy for the project which will provide a platform for the rapid exploration and development of the project through 2011”, added Mr. Williamson.

NIBLACK ASSAY TABLE

Niblack’s location at tidewater on Prince of Wales Island in southeast Alaska presents a number of project benefits, including year-round marine access, a well-trained labour force, a mature supply and service sector, proximity to Asian markets, and the support of community and Alaska Native corporation partners.  The project is located 27 miles (44 kilometres) from Ketchikan, a community of 8,000 people with important services to support project development, including a deep water port and international airport.  The State’s burgeoning minerals industry also enjoys a competitive tax regime and stable, predictable permitting and regulatory oversight coordinated by the Alaska Department of Natural Resources’ ‘Large Mine Permitting Team’.  For reference, Hecla's Greens Creek, a 2,100-ton per day underground massive sulphide mine, operates 225 miles (370 kilometres) to the northwest of Niblack on Admiralty Island.

Peter Kleespies, P.Geol., a Qualified Person as defined under National Instrument 43-101, is supervising the exploration and quality assurance and quality control programs on behalf of Niblack and has reviewed the content of this release.

About Niblack Mineral Development Inc.

Niblack Mineral Development Inc. (NIB: TSX-V) is an exploration and development company with a number of mineral rich assets in South East Alaska.  The Corporation’s principal asset is the Niblack advanced stage copper-gold-zinc-silver project. This project is currently joint ventured to and operated by Heatherdale Resources Limited (a Hunter Dickinson Company) which has the right to earn up to a 70% interest in the project.

Niblack Mineral Development Inc. is a member of the Discovery Group of companies, for more information on the group visit www.discoveryexp.com.

On behalf of the Board

Niblack Mineral Development Inc.

/s/”John Williamson”

President, CEO & Director

For further information about Niblack Mineral Development Inc. or this news release, please contact:

Brian Budd
Director of Corp. Development
Email: brianb@niblack.com   
Tel. 604-646-4525 or toll-free 1-888-331-2269
Website: www.niblack.com  Mobile URL: m.niblack.com

Sample preparation and analysis for the Niblack project is done at ISO 9001 accredited ALS Chemex laboratories in Vancouver, BC. All samples are assayed for gold by 30 g fire assay fusion with Atomic Absorption Spectroscopy (AAS) finish. Copper, silver, zinc, lead and 29 additional elements are determined for all samples by four acid digestion, followed by ICP-AES finish. All over-limit copper, zinc or lead results (greater than 10%) and all over-limit silver results (greater than 200 grams per tonne) are re-assayed by high grade single element four acid digestion ICP-AES or AAS analysis. As part of a comprehensive QA/QC program, one standard is inserted into the sample stream in each group of 20 samples, as well as one or more field blanks in each analytical batch. One sample in each group of 20 is a duplicate, which is analyzed by Acme Analytical Laboratories in Vancouver.

"Neither 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 release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, exploitation activities and events or developments that the company expects are forward looking statements. Although the company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.

About Niblack Mineral Development Inc.

Niblack Mineral Development Inc. (NIB: TSX-V) is an exploration and development company with a number of mineral rich assets in South East Alaska.  The Corporation’s principal asset is the Niblack advanced stage copper-gold-zinc-silver project. This project is currently joint ventured to and operated by Heatherdale Resources Limited (a Hunter Dickinson Company) which has the right to earn up to a 70% interest in the project.

Niblack Mineral Development Inc. is a member of the Discovery Group of companies, for more information on the group visit www.discoveryexp.com.

On behalf of the Board
Niblack Mineral Development Inc.
/s/”John Williamson”
President, CEO & Director

For further information about Niblack Mineral Development Inc. or this news release, please contact:

Brian Budd
Director of Corp. Development
Email: brianb@niblack.com   
Tel. 604-646-4525 or toll-free 1-888-331-2269
Website: www.niblack.com

"Neither 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 release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, exploitation activities and events or developments that the company expects are forward looking statements. Although the company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.

To date 45,000 feet of drilling has been completed on the project. Assays from the first 24 holes drilled by the joint venture were released previously and are reported on the Niblack website.  Important intersections from the next 10 holes are presented in the Niblack Assay Table below.  A drill hole location section is available at www.niblack.com.

NIBLACK ASSAY TABLE

“In addition to expanding and upgrading areas of known mineralization at Niblack, the significance of these results is that we’ve now extended the Lookout Zone to both the south and southwest and connected it to the high-grade VMS core that the joint venture discovered earlier this year,” stated Heatherdale President & CEO Dave Copeland.

 “Our drill program continues to progress methodically and efficiently, and we continue to target and successfully intersect VMS mineralization that is strongly enriched with precious metals. All of these results validate our geological teams’ growing understanding of this system, and all of them strengthen our belief that Niblack will support a high-grade underground mine in future.”

The 34 drill holes that the joint venture has completed at Niblack since October 2009 were achieved from seven underground drill stations. A fan pattern, designed to cross-cut the mineralized target zone, was initiated from each of the stations to test the area southwest and south of the Lookout deposit.  To date, the true widths of the intersections have not been accurately established.  Systematic, step-out drilling continues to expand the dimensions of the precious metals-enhanced mineralized body and is demonstrating the strength and continuity of the sub seafloor replacement and massive sulphide seafloor accumulation style mineralization. 

Niblack’s location at tidewater on Prince of Wales Island in southeast Alaska presents a number of project benefits, including year-round marine access, a well-trained labour force, a mature supply and service sector, proximity to Asian markets, and the support of community and Alaska Native corporation partners.  The project is located 27 miles (44 kilometres) from Ketchikan, a community of 8,000 people with important services to support project development, including a deep water port and international airport.  The State’s burgeoning minerals industry also enjoys a competitive tax regime and stable, predictable permitting and regulatory oversight coordinated by the Alaska Department of Natural Resources’ ‘Large Mine Permitting Team’.  For reference, Hecla's Greens Creek, a 2,100-ton per day underground massive sulphide mine, operates 225 miles (370 kilometres) to the northwest of Niblack on Admiralty Island.

Peter Kleespies, P.Geol., a Qualified Person as defined under National Instrument 43-101, is supervising the exploration and quality assurance and quality control programs on behalf of Niblack and has reviewed the content of this release.

Sample preparation and analysis for the Niblack project is done at ISO 9001 accredited ALS Chemex laboratories in Vancouver, BC. All samples are assayed for gold by 30 g fire assay fusion with Atomic Absorption Spectroscopy (AAS) finish. Copper, silver, zinc, lead and 29 additional elements are determined for all samples by four acid digestion, followed by ICP-AES finish. All over-limit copper, zinc or lead results (greater than 10%) and all over-limit silver results (greater than 200 grams per tonne) are re-assayed by high grade single element four acid digestion ICP-AES or AAS analysis. As part of a comprehensive QA/QC program, one standard is inserted into the sample stream in each group of 20 samples, as well as one or more field blanks in each analytical batch. One sample in each group of 20 is a duplicate, which is analyzed by Acme Analytical Laboratories in Vancouver.

About Niblack Mineral Development Inc.

Niblack Mineral Development Inc. (NIB: TSX-V) is an exploration and development company with a number of mineral rich assets in South East Alaska.  The company’s principal asset is the Niblack advanced stage copper-gold-zinc-silver project. This project is currently   joint ventured to and operated by Heatherdale Resources Limited, (Hunter Dickinson Company) which has the right to earn a 70% interest in the project.

Niblack Mineral Development Inc. is a member of the Discovery Group of companies, for more information on the group visit www.discoveryexp.com.

On behalf of the Board
Niblack Mineral Development Inc.
/s/”John Williamson”
President, CEO & Director

For further information about Niblack Mineral Development Inc. or this news release, please contact:

Brian Budd
Director of Corp. Development
Email: brianb@niblack.com   
Tel. 604-646-4525 or toll-free 1-888-331-2269
Website: www.niblack.com

"Neither 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 release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, exploitation activities and events or developments that the company expects are forward looking statements. Although the company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.

“We would like to welcome Dave to the Board,” said John Williamson, President and CEO, “the addition of his engineering perspective and extensive experience in exploration, development and mining is very timely as we advance the Niblack Project in southeast Alaska.”

Mr. Gunning is a professional mining engineer (1989) and graduate of the University of British Columbia (1983).  He has managed underground, open pit, and placer gold mines in British Columbia, Northwest Territories, Mongolia and Mexico.  He has also been active in project exploration and development in numerous worldwide jurisdictions including Bolivia and Nevada.

Since 1997 Mr. Gunning has worked as a consultant in project management in addition to authoring numerous technical reports including NI 43-101 compliant reports. Several of these projects required the review or estimation of reserves and resources, including the Panasquiera Tungsten Mine in Portugal, the Copper Mountain Project near Princeton, BC and the La Preciosa Project near Durango, Mexico.  Mr. Gunning is currently the Chief Operating Officer of Starcore International Mines Ltd., which operates an 800 tpd underground gold mine in central Mexico, as well as being a director of several other companies.

In conjunction with the appointment of Mr. Gunning, the Board of Directors ("Board") granted stock options pursuant to the Corporation's stock option plan to directors and officers of the Corporation to acquire an aggregate of 1,800,000 Common Shares, exercisable at a price of $0.28 per Common Share until September 15, 2015.

The board appointment and grant of stock options are subject to approval of the TSX Venture Exchange.
 

About Niblack Mineral Development Inc.

Niblack Mineral Development Inc. (NIB: TSX-V) is an exploration and development company with a number of mineral rich assets in South East Alaska.  The company’s principal asset is the Niblack advanced stage copper-gold-zinc-silver project. This project is currently   joint ventured to and operated by Heatherdale Resources Limited, (Hunter Dickinson Company) which has the right to earn a 70% interest in the project.

Niblack Mineral Developments Inc. is a member of the Discovery Group of companies, for more information on the group visit www.discoveryexp.com.

On behalf of the Board
Niblack Mineral Developments Inc.
/s/”John Williamson”
President, CEO & Director

For further information about Niblack Mineral Developments Inc. or this news release, please contact:

Brian Budd
Director of Corp. Development
Email: brianb@niblack.com   
Tel. 604-646-4525 or toll-free 1-888-331-2269
Website: www.niblack.com

"Neither 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 release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, exploitation activities and events or developments that the company expects are forward looking statements. Although the company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.

Niblack’s joint venture has completed 35,000 feet of drilling in 23 holes from six underground drill stations. Assay results from the last 14 of these holes, released today, indicate that the precious metals-enriched system located southwest of the known Lookout deposit continues to expand and remains open in several directions.

“The assay results released today confirm the continuity of high-grade VMS mineralization at Niblack, and reflect a consistently strong and improving grade profile and growing resource base,” said Heatherdale President & CEO Dave Copeland. “The findings validate our geological team’s growing knowledge of the precious metals-enriched system we’re seeking to delineate, and enhance our confidence that we will define a polymetallic VMS deposit with the grades, volume and other characteristics necessary to support an economically robust underground mining operation in future.”

The Drill Program:

Important intersections from the 14 drill holes (U039-U052) released today are presented in the ‘Niblack Assay Table’ at the end of this release. Assay results from the first nine holes drilled, representing 15,000 feet of drilling, were released previously (see March 19, 2010 news release).  A drill hole location section is available at www.niblack.com.

The initial 25,000 foot drill program is complete and the second phase of the program is well underway. Two underground drill rigs are currently working to further expand the strike length of the newly discovered gold-copper-silver-zinc system located adjacent to the Lookout zone. The Lookout zone is one of six known VMS deposits within the 10 square mile Niblack property.

The 23 holes drilled at Niblack since fall 2009 were collared at six underground drill stations utilizing a fan pattern designed to cross cut the mineralized target horizon southwest of the Lookout deposit. To date, the true widths of the intersections have not been firmly established. Systematic, step-out drilling will continue for the balance of 2010 to expand the dimensions of the high-grade VMS deposit and demonstrate the strength and continuity of the gold-copper-silver-zinc mineralization. 

“We fully intend to continue our investment at Niblack to move the project forward in a timely and efficient way. Over the next several months, two underground drills will complete an additional 50,000 feet of underground drilling for the purpose of further developing the geological model for the project” said Heatherdale President & CEO Dave Copeland.

Niblack’s location at tidewater on Prince of Wales Island in southeast Alaska presents a number of compelling project benefits – including year-round marine access, a well-trained labour force, a mature supply and service sector, proximity to Asian markets, and the support of community and Alaska Native corporation partners.  The project is located 27 miles (44 kilometres) from Ketchikan, a community of 8,000 people with important services to support project development, including a deep water port and international airport.

The State of Alaska’s burgeoning minerals industry also enjoys a competitive tax regime and stable, predictable permitting and regulatory oversight coordinated by the Department of Natural Resources’ ‘Large Mine Permitting Team’.  For reference, Hecla's Greens Creek, a 2,100-ton per day underground massive sulphide mine, operates 225 miles (370 kilometres) to the northwest of Niblack on Admiralty Island.

Peter Kleespies, P.Geol., a Qualified Person as defined under National Instrument 43-101, is supervising the exploration and quality assurance and quality control programs on behalf of Niblack and has reviewed the content of this release.

About Niblack Mineral Development Inc.

Niblack Mineral Development Inc. (NIB:TSXV) is a Tier 1 Canadian exploration and development company whose principal asset is a 100% owned, advanced-stage, gold-rich VMS deposit containing gold, silver, copper and zinc. This project is currently  joint ventured to and operated by Heatherdale Resources Limited, (Hunter Dickinson Company) which has the right to earn a 51% interest in the Niblack project by investing US$15 million over three years, and an option to acquire up to a 60% interest from Niblack Mineral Development Inc. (formerly CBR Gold Corp.) by investing an additional US$10 million and 70% by completing a bankable feasibility study. The Company also owns the Khayyam and Ruby Tuesday Properties, which are within 18 miles (30 kilometres) of the Niblack Project.

Niblack Mineral Development Inc. is a member of the Discovery Group of companies, for more information on the group visit www.discoveryexp.com.

On behalf of the Board
Niblack Mineral Development Inc.
/s/”John Williamson”
President, CEO & Director
For further information about Niblack Mineral Development Inc. or this news release, please contact:

Brian Budd
Director of Corp. Development
Email: brianb@niblack.com   
Tel. 604-646-4525 or toll-free 1-888-331-2269
Website: www.niblack.com

NIBLACK ASSAY TABLE

Neither the TSX Venture Exchange nor its Regulation Services Provide (as that term is defined in the policies of the TSX Venture Exchange accepts responsibility for the adequacy or accuracy of this release.

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, exploitation activities and events or developments that the company expects are forward looking statements. Although the company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.

In connection with the re-pricing, the Exchange has required that the forced exercise provision of the Warrants also be amended. The Warrants will now expire on December 11, 2014, unless the closing price of the Common Shares on the Exchange is greater than $0.5625 for a period of 10 consecutive trading days (the “Premium Trading Days”), whereupon the Warrants will expire if not exercised within 30 days following 7 calendar day after the 10th Premium Trading Day. No notice by Niblack is required to trigger the forced exercise.

An aggregate of 179,140 Warrants held by Insiders of Niblack will not be repriced and will not be subject to the amended forced exercise provision.

About Niblack Mineral Developments Inc.

Niblack Mineral Development Inc. (NIB: TSX-V) is an exploration and development company whose principal asset is the Niblack advanced stage copper-gold-zinc-silver project in southeast Alaska. This project is held by Niblack Mineral Development Inc. (formerly CBR Gold Corp) and joint venture partner Heatherdale Resources Limited, a Hunter Dickinson company with the right to earn a 70% interest in the project. The property comprises a NI 43-101 compliant resource and contiguous land package comprising 3,300 acres with excellent potential to expand the current resource base.

Niblack Mineral Developments Inc. is a member of the Discovery Group of companies, for more information on the group visit www.discoveryexp.com.

On behalf of the Board Niblack Mineral Developments Inc. /s/”John Williamson” President, CEO & Director

EDMONTON CORPORATE OFFICE:

SUITE 220-9797 45TH AVENUE | EDMONTON | AB | T6E 5V8
PHONE: 780-437-6624 | FAX: 780-439-7308

VANCOUVER OFFICE:

SUITE 1440-625 HOWE STREET | VANCOUVER | BC | V6C 2T6
PHONE: 604-646-4524 | FAX: 604-646-4526
WWW.NIBLACK.COM

For further information about Niblack Mineral Developments Inc. or this news release, please contact:
Brian Budd
Director of Corp. Development
Email: @niblack.
Tel. 604-646-4525 or toll-free 1-888-331-2269
Website: .niblack.

"Neither 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 release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, exploitation activities and events or developments that the company expects are forward looking statements. Although the company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.

Edmonton, Alberta – CBR Gold Corp. (CBG:TSXV) (“CBG”) is pleased to announce that the Plan of Arrangement approved by the Court of Queen’s Bench of Alberta on March 25, 2010 and by shareholders of CBG (“Shareholders”) at a special meeting on March 24, 2010 has become effective.

Prior to the Arrangement, CBG transferred its Canadian and Australian mineral properties and related assets and approximately $5.3 million in working capital and marketable securities to North Country Gold Corp. (“North Country”) in exchange for a right (the “Right”) to receive 35,976,521 common shares of North Country (“NCG Shares”). Pursuant to the Arrangement, the aggregate capital of the common shares of CBG (“CBG Shares”) was reduced by the sum of $8,994,130.25 ($0.25 per CBG Share), an amount equal to the fair market value of the Right and the Right was distributed to the Shareholders in satisfaction of the reduction and return of capital of the CBG Shares, such that each Shareholder received an undivided interest in the Right in proportion to his or her ownership in CBG. The Right was automatically exchanged by the Shareholders for the NCG Shares and cancelled. Each Shareholder received one NCG Share for each CBG Share owned by such Shareholder.

Pursuant to the Arrangement, CBG also changed its name to “Niblack Mineral Development Inc.”. Following completion of the Arrangement, Mr. Craig Bentham and Mr. Charles Chebry resigned from the Board of Directors of CBG and were appointed to the Board of Directors of North Country. Mr. Dean Besserer and Mr. James Paterson were appointed to the Board of CBG to fill the vacancies left by the resignations.

The CBG Shares will continue to trade on the TSX Venture Exchange under the new stock symbol “NIB”. The NCG Shares are expected to be listed and posted for trading on the TSX Venture Exchange commencing April 15, 2010 under the stock symbol “NCG”.

North Country Gold Corp. is a member of the Discovery Group of Companies.

For further information about Niblack Mineral Development Inc., North Country Gold Corp. or this news release, please contact: John Williamson, Chief Executive Officer at (780) 437‐6624.

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.