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Niblack Mineral Development Inc. Announces Acquisition by Heatherdale Resources Ltd.

January 18, 2012 – Edmonton, Alberta – Niblack Mineral Development Inc. (TSX-V: NIB) (“Niblack” or the “Company”) announces the successful completion by court-approved plan of arrangement (the “Arrangement”), of the acquisition of Niblack by Heatherdale Resources Ltd. (“Heatherdale”). Heatherdale has acquired all the outstanding common shares of Niblack in exchange for the issuance of 19,221,578 Heatherdale common shares, and now holds a 100% interest in the Niblack copper-gold-zinc-silver project located in southeast Alaska, USA.

Under the Arrangement, former shareholders of Niblack received 0.50 common shares of Heatherdale for each common share of Niblack.  Each unexercised warrant that was outstanding at closing has been amended to give the warrantholder the right to purchase the number of Heatherdale shares equal to 50% of the number of Niblack shares subject to such warrant, at an exercise price of C$1.20 in the case of warrants that have a current exercise price of C$0.45 and C$1.73 in the case of warrants that have a current exercise price of C$0.65.  All unexercised options at closing have been cancelled for C$0.01 per option.  Niblack will be delisted from the TSX-V on or about January 19, 2012.

For further details, please visit the company website at www.niblack.com or contact investor services at (604) 697-2861. 

On behalf of the Board of Directors

John Williamson
President & CEO of Niblack

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.

This news release may contain forward - looking information including but not limited to comments regarding the timing and content of upcoming transactions.  Forward - looking information includes disclosure regarding possible future events, or conditions or results of operations that is based on assumptions about future economic conditions and courses of action, and therefore, involves inherent risks and uncertainties. Although management has a reasonable basis for the conclusions drawn, actual results may differ materially from those currently anticipated in such statements.  For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.

 

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