Black Pearl Minerals Consolidated Inc.: Sale of the Ferro and Wekusko Option Agreements

TORONTO, ONTARIO, Sep 05 (MARKET WIRE) --
Black Pearl Minerals Consolidated Inc., ("the Company") (TSX VENTURE:
BLK) has signed an agreement with Cuprus Mining Corporation ("Cuprus") to
sell the Ferro and Wekusko Gold Property Options.

The Letter Agreement states that Cuprus will assume all obligations under
the Ferro and Wekusko Option Agreements including cash payments, share
payments and work commitments. Cuprus will take over and fund site
operations at the Ferro and Wekusko properties whereby there is currently
a 9,000 tonne bulk sample of the Gold Dust vein system in progress.

In addition to taking over property obligations and bulk sample
operations, Cuprus will pay Black Pearl Minerals by; 1) delivering 2,000
ounces of gold to Black Pearl Minerals when initial gold production from
the property reaches 2,667 ounces of gold and 2) $1,000,000 in cash by
November 30, 2008 and 3) $300,000 in cash or Cuprus shares by October 31,
2008. There are no finder's fees being paid in conjunction with the
transaction. Completion of the transaction is subject to regulatory
approval including approval of the TSX Venture Exchange.

Delivery of 2,000 ounces of gold to Black Pearl Minerals will allow the
company to fulfill its gold option agreement with the debenture holders
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.

Black Pearl Minerals will retain the right to all lithium bearing
mineralization and feldspar mineralization of any nature on the Ferro
Mine and Wekusko properties for the purpose of exploration and mining and
the right to occupy the surface rights of the property for such purposes.

In the event that Cuprus does not fulfill its obligations by November 30,
2008, the property and equipment will all revert back to Black Pearl
Minerals with no further consideration.

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

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