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Blacksteel Energy Inc.

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Blacksteel Energy Inc. Terminates Its Proposed Acquisition of TERIC Power Ltd.

CALGARY, ALBERTA--(Marketwired - Sept. 30, 2016) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES

Blacksteel Energy Inc. (TSX VENTYURE:BEY) ("Blacksteel") announces that it has decided not to proceed with its proposed acquisition of TERIC Power Ltd.

Blacksteel continues to look for opportunities to create shareholder value.

Blacksteel Energy Inc.

Blacksteel is a junior oil and gas company involved in the exploration, exploitation, development and production of petroleum and natural gas resources.

Neither 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.

Not for distribution to U.S. Newswire Services or for dissemination in the United States of America. Any failure to comply with this restriction may constitute a violation of U.S. Securities Laws.

Blacksteel Energy Inc.
Eugene Chen
Director
(403) 536-9598
echen@sheanerland.com

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