/EINPresswire.com/ -- CALGARY, ALBERTA -- (Marketwired) -- 10/27/15 -- Blackhawk Resource Corp. ("Blackhawk" or the "Corporation") (TSX VENTURE: BLR) is pleased to announce that the audited financial statements and MD&A for the fiscal year ended June 30, 2015 have been filed on Sedar.

Highlights for the fiscal year ended June 30, 2015 include:

--  Net investment income for the year ended June 30, 2015 was $624,902.

--  Realized gains, gross investment revenue and revenue from oil and gas
    assets for the year was $896,554, this does not include the unrealized
    losses of $139,340.

--  As at June 30, 2015, Blackhawk had $4,372,045 in working capital.

--  As at June 30, 2015, Blackhawk held $3,881,800 in current investments or
    89% of its working capital.

--  As at June 30, 2015, NAV per share was $0.12.

--  On June 30, 2015 the Corporation declared its first dividend, which was
    paid to shareholders on July 15, 2015.

During the fiscal year ending June 30, 2015 the Corporation was very active with its investment strategy, and had successful results which allowed Blackhawk to declare and pay its first dividend. The Corporation has since paid a second dividend on October 15, 2015. It is the intention of the Corporation to continue to pay a quarterly dividend.

As at June 30, 2015 the Corporation held debt investments of approximately $2,241,000, the interest earned on the loans put in place since the last quarter had an average return of 21%. In addition the Corporation holds equity investments with a fair market value of approximately $1,942,000, oil and gas assets with a fair market value of $185,000 and additional working capital of $490,000.

The Corporation continues to review numerous opportunities in both debt and equity investments to ensure that it can maintain the returns realized in the current period.

PORTFOLIO INVESTMENTS

As at June 30, 2015, NAV per share was $0.12.

Investments at fair value by sector consist of the following as at June 30, 2015:

                                               Total fair   % of total fair
Sector                                 Cost         value             value
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Construction and real estate    $   211,000 $     183,895                 9%
Oil and gas producers               447,817       198,250                10%
Mining                              508,540       788,060                41%
Technology and media                689,000       771,532                40%
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Total                           $ 1,856,357 $   1,941,737               100%
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Current debt instrument investments consist of the following as at June 30, 2015:

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Short term loans                                                 $ 1,940,063
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Total current investments held to maturity                       $ 1,940,063
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Long term debt instrument investments consist of the following as at June 30, 2015:

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Mortgage receivable                                              $   150,000
Debenture                                                            150,937
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Total long term investments held to maturity                     $   300,937
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Oil and gas investments consist of the following as at June 30, 2015:

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Non-Operated properties                                          $   117,857
GORR                                                                  67,662
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Total property, plant and equipment                              $   185,519
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Additional information is available on our website at www.blackhawkcorp.ca.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

NON-GAAP OR NON IFRS FINANCIAL MEASURES

This press release includes references to "net asset value per share ("NAV per share")," a financial measure that does not have a standardized meaning prescribed by generally accepted accounting principles (GAAP) or International IFRS. NAV per share is calculated as the value of total assets less the value of total liabilities divided by the total number of common shares outstanding as at a specific date. Investors are cautioned that this non-GAAP measure should not be construed as an alternative to the measurement calculated in accordance with IFRS as, given its non-standardized meaning; it is unlikely to be comparable to similar measures presented by other issuers.

Forward-Looking Statements

This news release contains forward-looking statements as defined under applicable securities laws. Statements other than statements of historical fact contained in this news release may be forward-looking statements under applicable securities legislation, including, without limitation, management's expectations. Many of these statements can be identified by looking for words such as "believe", "expects", "will", "intends", "projects", "anticipates", "estimates", "continues" or similar words or the negative thereof. To the extent any forward-looking statements herein constitute a financial outlook, including, without limitation, the estimated effect on the Corporation's revenues, they were approved by management as of the date hereof and have been included to assist readers in understanding management's current expectations regarding the Corporation's financial performance and are subject to the same risks and assumptions disclosed herein. There can be no assurance that the plans, intentions or expectations upon which these forward-looking statements are based will occur.

Statements containing forward-looking information by their nature involve numerous assumptions and significant known and unknown facts and uncertainties of both a general and a specific nature.

The forward-looking statements contained herein are subject to numerous known and unknown risks that may cause actual results to vary from those set forth in the forward-looking statements, including, but not limited to risks associated with: general economic conditions and changes in the financial markets; risks associated with investment Corporation businesses; a material change in the operations of an investment Corporation or the industries in which they operate; and key assumptions.

As forward-looking statements are subject to risks, uncertainties and assumptions and should not be read as guarantees or assurances of future performance. Accordingly, readers are cautioned not to place undue reliance on any forward-looking information contained in this news release as a number of factors could cause actual future results, conditions, actions or events to differ materially from the targets, expectations, estimates or intentions expressed in the forward-looking statements. Statements containing forward-looking information reflect management's current beliefs and assumptions based on information in its possession on the date of this news release. Although management believes that the assumptions reflected in the forward-looking statements contained herein are reasonable, there can be no assurance that such expectations will prove to be correct.

The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this news release are made as of the date of this news release and the Corporation does not undertake or assume any obligation to update or revise such statements to reflect new events or circumstances except as expressly required by applicable securities legislation.

Contacts:
Blackhawk Resource Corp.
Dave Antony, CEO
(403) 531-1710
dantony@blackhawkcorp.ca

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