BBI Blackbird Energy

Blackbird Energy Inc. ("Blackbird" or the "Company") (TSX VENTURE:BBI) is
pleased to announce that it has entered into a definitive securities exchange
agreement dated September 24, 2012 (the "Securities Exchange Agreement") in
respect of its previously announced acquisition (the "Acquisition") of all the
issued and outstanding shares of Ruger Energy Inc. ("Ruger"), a junior oil and
gas exploration and development company in Alberta.


Ruger has a 100% working interest in 680 acres in the Alsask area located on the
Alberta/Saskatchewan border and currently has cash and cash equivalents of
approximately $3,600,000.


Pursuant to the terms of the Securities Exchange Agreement, Blackbird will issue
to the shareholders of Ruger an aggregate of 39,679,537 units (each, a
"Transaction Unit") at a deemed price of $0.12 per Transaction Unit. Each
Transaction Unit will comprise one common share in the capital of the Company (a
"Transaction Share") and one-half of one share purchase warrant (a "Transaction
Warrant") exercisable at a price of $0.24 until April 5, 2014. In total,
39,679,537 Transaction Shares and 19,839,768 Transaction Warrants will be
issued. 


The terms of the Securities Exchange Agreement also provide for certain
management changes to be effected concurrently with the closing of the
Acquisition. Current members of the board, Robert Booth, Dennis Paterson and
Michael Sweatman will be replaced with Darrell Denney, Murray Scalf and Sean
Campbell, all three of whom are current directors and/or shareholders of Ruger
(the "Ruger Nominees"). Additionally, Blackbird will also grant an aggregate of
4,000,000 incentive stock options, exercisable for a period of five years from
grant, to the Ruger Nominees and certain persons which will act as consultants
to Blackbird following completion of the Acquisition. Half of the options will
have an exercise price of $0.16 per share and the other half will be exercisable
at a price of $0.20 per share.


Garth Braun, Chief Executive Officer and director of Blackbird, commented: "We
are very pleased to be taking this next critical step towards closing of the
Acquisition. The transaction will provide Blackbird with a significant
enhancement to the management team, a substantial cash injection to facilitate
future drilling plans, and graduate Blackbird to becoming an operator in both
Saskatchewan and Alberta."


The Acquisition and all ancillary transactions remain subject to the approval of
the TSX Venture Exchange. 


About Blackbird

Blackbird's Bigstone Project is comprised of lands and licenses covering a total
of 5,120 acres (net 1,120 acres), in Township 60, ranges 22 and 23W5 at
Bigstone, Alberta. By completing the terms of a farm in agreement with
Donnybrook Energy Inc, Blackbird earned 25 per cent of Donnybrook's interest in
the Bigstone lands and in any future operations within an area of mutual
interest.


On behalf of the board of BLACKBIRD ENERGY INC.

Garth Braun, Chief Executive Officer and Director

Disclaimer for Forward-Looking Information

Certain statements in this release are forward-looking statements, which reflect
the expectations of management regarding the completion of the Acquisition and
the ancillary transactions thereto, the drilling of the fourth. Forward-looking
statements consist of statements that are not purely historical, including any
statements regarding beliefs, plans, expectations or intentions regarding the
future. Such statements are subject to risks and uncertainties that may cause
actual results, performance or developments to differ materially from those
contained in the statements. No assurance can be given that any of the events
anticipated by the forward-looking statements will occur or, if they do occur,
what benefits the Company will obtain from them. These forward-looking
statements reflect management's current views and are based on certain
expectations, estimates and assumptions which may prove to be incorrect. A
number of risks and uncertainties could cause our actual results to differ
materially from those expressed or implied by the forward-looking statements,
including: (1) a downturn in general economic conditions in North America and
internationally, (2) the inherent uncertainties and speculative nature
associated with oil and gas exploration and production, (3) a decreased demand
for natural gas, (4) any number of events or causes which may delay or cease
exploration and development of the Company's property interests, such as
environmental liabilities, weather, mechanical failures, safety concerns and
labour problems; (5) the risk that the Company does not execute its business
plan, (6) inability to retain key employees, (7) inability to finance operations
and growth, and (8) other factors beyond the Company's control. These
forward-looking statements are made as of the date of this news release and,
except as required by law, the Company assumes no obligation to update these
forward-looking statements, or to update the reasons why actual results differed
from those projected in the forward-looking statements.

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