Mr. Dave Antony reports

BLACKHAWK FILES FIRST QUARTER FINANCIAL REPORTS

Blackhawk Resource Corp. has released the unaudited interim condensed financial statements and management's discussion and analysis for the three-month period ended Sept. 30, 2015, which are filed on SEDAR.

Highlights for the three-month period ended Sept. 30, 2015, include:

• Realized losses, gross investment revenue, and revenue from oil and gas assets for the three-month period was $68,304. This does not include the unrealized losses of $86,503.
• Interest income was $125,005 on its debt portfolio for the three-month period.
• As at Sept. 30, 2015, Blackhawk had $4,231,718 in working capital.
• As at Sept. 30, 2015, Blackhawk held $4,188,698 in current investments or 99 per cent of its working capital.
• As at Sept. 30, 2015, net asset value per share was 11 cents.

During the three-month period ended Sept. 30, 2015, the corporation continued to focus on its debt portfolio and, as such, increased its short-term loan portfolio from $2.24-million to over $2.8-million. These debt instruments have an average interest rate of 23 per cent. This increase in debt instruments has allowed the corporation to earn over $125,000 in interest income during this three-month period. Blackhawk continues to hold numerous equity investments and continues to review both equity and debt investment opportunities, but has chosen to weight its portfolio to debt items at this time due to the conditions in the junior equity market.

As at Sept. 30, 2015, the corporation held total investments of $4,664,861 composed of equity-type investments of $1,658,509, debt-type investments of $2,820,557, and oil and gas assets of $185,795. In addition, the corporation held a cash balance of $141,314.

Portfolio investments

As at Sept. 30, 2015, net asset value per share was 11 cents.

We seek Safe Harbor.