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Message: Brownstone JV NR

Brownstone JV NR

posted on Jun 09, 2009 09:49AM

TORONTO, Ontario (October 29, 2008) – Brownstone Ventures Inc. (TSXV: “BWN”) (“Brownstone”) and X-Terra Resource Corporation (“X-Terra”) are pleased to announce that they have received confirmation from the Ministere des Ressouces Naturelles et de la Faune of the Province of Quëbec that the final permits for the exploration licenses for petroleum and natural gas on its shale properties located in the Quëbec Lowlands (namely, Shawinigan, Rimouski and Rimouski North) (the “Quëbec Shale Licenses”) have been received and the parties have now completed the previously announced acquisition by Brownstone of a 50% interest in the Quëbec Shale Licenses. Under the terms of the acquisition, Brownstone issued 2,000,000 common shares and 2,000,000 common share purchase warrants to X-Terra. Each warrant entitles X-Terra to purchase one common share of Brownstone at a price of $2.00 per share until expiry on October 28, 2010. The common shares, warrants and common shares underlying the warrants are subject to a four month hold period expiring on March 1, 2009.

The Quebec Shale Licenses cover a total of 159,991 hectares in the Quëbec Lowlands.

and X Terra can purchase @ $2.00...BWN currently at $.50....and some question if the lease area is prospective?



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