Black Pearl Minerals Debenture Redemption

TORONTO, ONTARIO, Sep 05 (MARKET WIRE) --
Black Pearl Minerals Consolidated Inc. (TSX VENTURE: BLK)("the Company")
is pleased to announce that further to the news release dated August 18,
2008, the TSX Venture Exchange has approved redemption of its series 1
convertible debentures. The debentures are callable by the holders
beginning September 5, 2008 for 3,000 ounces of gold or the cash
equivalent which is $2.41725 million dollars at the London PM gold price
fix.

Effective September 5th, the Company will redeem the debentures for
$1.593 million in cash, 1.875 million common shares of the Company at a
deemed price of $0.16 per share, and issue the debenture holders a gold
option agreement whereby the debenture holders have the right to purchase
up to 2,000 ounces of gold at US$500 per ounce. The rights under the gold
option agreement are only exercisable in respect to gold which may be
produced from the Ferro Mine and Wekusko properties at the point whereby
gold production reaches 2,667 ounces. The right under the gold option
agreement is indefinite.

The securities issued under the transaction are subject to a four-month
hold period.

Black Pearl Minerals is acquiring and testing the economics of several
key lithium pegmatite projects in Canada. As well, the company has
initiated lithium brine exploration in the Great Basin of the United
States and recently staked its first lithium brine project in Nevada.

Forward-Looking Statements

All statements other than statements of historical fact, included in this
release, including, without limitation, statements regarding potential
mineralization and reserves, exploration results, and future plans and
objectives of the Company, are forward-looking statements that involve
various risks and uncertainties. There can be no assurance that such
statements will prove to be accurate and actual results and future events
could differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ materially
from the Company's expectations are exploration risks detailed herein and
from time to time in the filings made by the Company with securities
regulators.

Shares Outstanding: 69,852,801

The TSX Venture Exchange has not
reviewed and does not accept responsibility for the adequacy or accuracy
of this release.

Contacts:
Black Pearl Minerals Consolidated Inc.
Judy Baker
President
(416) 361-2821
Email: jbaker@blackpearlminerals.com
Website: www.blackpearlminerals.com

Copyright 2008, Market Wire, All rights reserved.

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