Mr. Dave Antony reports

BLACKHAWK FILES FISCAL YEAR ENDED JUNE 30, 2018 FINANCIAL REPORTS

Blackhawk Resource Corp. has released its financial statements and management's discussion and analysis for the fiscal year ended June 30, 2018. The financial documents can be viewed on SEDAR.

Highlights:

• Blackhawk Resource had interest income of $6,090 on its debt portfolio, a realized gain on disposal of equity investments of $48,956, an unrealized loss on equity investments of $164,245 and $42,390 of net revenue from its oil and gas assets for the year ended June 30, 2018.
• Blackhawk Resource had a negative cash flow from operations of $191,895 for the year ended June 30, 2018.
• As at June 30, 2018, Blackhawk Resource held $5,170,500 in investments.
• As at June 30, 2018, Blackhawk Resource's net asset value per share was 12 cents.

Blackhawk Resource continues to hold certain equity and short-term loan investments. The equity portion of its portfolio includes a significant investment in a private e-sports company, UMG Media Corp. UMG Media is involved in both live tournament events as well as on-line match play.

The loss for the year ended June 30, 2018, was also impacted by a decrease in investment activity in the year. With this reduced activity and in recognition of market conditions, the corporation, in an effort to reduce administrative costs, took certain steps, including a 50-per-cent reduction in all senior management fees.

Portfolio investments

As at June 30, 2018, the corporation held total investments of $5,170,500, comprising equity-type investments of $4,795,500 and short-term loan investments of $375,000. In addition, the corporation held a cash balance of $88,812.

Investments at fair value by sector as at June 30, 2018, are provided in the attached table.

Sector                        Cost     Total fair value    % of total fair value

Mining                  $  508,166                    -                        0                   
Technology and media     1,813,264           $4,795,500                      100                 
Total                    2,321,434            4,795,500                      100                 

Debt instrument investments as at June 30, 2018, are provided in the attached table.

Short-term loans                                $375,000 
Total current debt instrument investments        375,000

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