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BLVKF News....Nickel in Norway...
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TSX VENTURE SYMBOL: BLV

December 6, 2006

Blackstone and Xstrata Nickel Announce Change in Operatorship of Norway Joint
Venture


VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 6, 2006) - Blackstone Ventures
Inc. (TSX VENTURE:BLV) is pleased to announce that Blackstone and its joint
venture partner Sulfidmalm A/S (a wholly owned subsidiary of Xstrata Nickel)
have come to terms to transfer the operatorship of the Norway Joint Venture
Projects from Sulfidmalm A/S to Blackstone. The projects will be operated
through the wholly owned subsidiary of Blackstone Ventures Inc. based in
Sweden, Blackstone Nickel AB. A branch office of the subsidiary has been
established in Norway, Blackstone Nickel NUF, which will be responsible for the
operation. The subsidiary is represented by Baker & McKenzie law firm in
Stockholm and by KPMG in Skelleftea.

The Norway joint ventures with Xstrata Nickel comprise the Espedalen and
Vakkerlien Option and the South Norway Option. The South Norway Option
encompasses five large areas (Bamble, Ertelien, Skjaekerdalen, Evje and
Hosanger).

Since entering into the option with Sulfidmalm in 2003, Blackstone has funded a
total of 18,332 line km of airborne magnetics and EM which has been flown at
the Espedalen, Vakkerlien, Bamble, Ertelien, Skjaekerdalen and Evje project
areas. Two significant new nickel zones have been discovered by the joint
venture group since the inception of the projects. The Stormyra zone on the
Espedalen project and the Ertelia zone on the South Norway project. The Ertelia
anomaly was identified as one of the high priority targets and occurs in an
area where nickel was produced in the late 1800's to the early 1900's and has
been the focus of this years diamond drilling program.

Blackstone technical personnel are compiling data and results from all projects
and are planning for a very aggressive 2007 exploration campaign. Donald
McInnes, President of Blackstone stated, "With Blackstone now taking over the
operatorship of all the Norway projects we will be looking to advance the pace
of drilling on the numerous targets which had been identified on the projects
when Xstrata Nickel was the operator. Although Xstrata Nickel has a great
wealth of local knowledge in Norway due to their history in the country, we've
been able to retain a significant portion of the Xstrata Nickel operational
team until the end of the year in order to provide a smooth transition with the
work program. Our focus now will be to continue drilling the targets which have
been identified on the South Norway projects and to fully assess many of the
targets, particularly at Espedalen and Vakkerlien, which have only had a first
pass of diamond drilling."

Additional targets will also be drilled on the Bamble Project during the
upcoming winter field program. In particular, ground geophysical surveys over
airborne conductors have identified conductors which occur near old nickel mine
workings at Seljasen. These conductors are considered to be significant in that
they have considerable strike length (up to 800m in length) with one of the
conductors associated with known nickel mineralization and gabbro and
ultramafic rock types typically associated with nickel sulphide mineralization.

The South Norway Joint Venture is made up of three separate agreements between
Blackstone and Xstrata Nickel; the Espedalen Project is a 60/40 joint venture
between Blackstone and Xstrata Nickel, at Vakkerlien Blackstone must expend
$2.25 million in exploration by June 2007 to earn a 60% interest and in the
South Norway option Blackstone has the right to earn a 50% interest in five
project areas, subject to certain "back-in provisions", by incurring
exploration expenditures of at least US$3.5 million on or before December 31,
2006 and at least US$1.2 million in each of the subsequent calendar years,
provided a total of US$18 million is spent on or before December 31, 2012.

The information in this release was prepared under the direction of Dean
MacEachern, P. Geo., Chief Operating Officer for Blackstone, a qualified person
as defined by National Instrument 43-101.

On behalf of Blackstone Ventures Inc.

Donald A. McInnes, President

- 30 -

FOR FURTHER INFORMATION PLEASE CONTACT:

Blackstone Ventures Inc.
Robert Carriere
Manager, Investor Relations
[phone]
Website: www.blv.ca

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

INDUSTRY: Manufacturing and Production - Mining and Metals
SUBJECT: BFC - BUSINESS CONTRACTS