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BLACK TUSK CLOSES $181,500 PRIVATE PLACEMENT

Mr. Richard Penn reports

BLACK TUSK RESOURCES INC. CLOSES FLOW THROUGH PRIVATE PLACEMENT


Black Tusk Resources Inc. has closed a flow-through private placement, issuing a total of 3.3 million units (as defined below) at a price of 5.5 cents per unit for total proceeds of $181,500.


Each unit consists of one flow-through common share and one-half of one share purchase warrant. Each warrant will entitle the holder to purchase an additional share at a price of 10 cents per share for a two-year term.


The company paid finders' fees to Leede Jones Gable Inc. and EMD Financial Inc., consisting of $13,200 cash, 144,000 common shares and 48,000 warrants.

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