Blackham Resources Ltd.: Bulletin Continues to Grow

Perth, Australia - Blackham Resources Ltd (ASX:BLK) ("Blackham") is pleased to announce the latest results received from underground drilling at the Bulletin mine. The diamond drill program was designed to extend the lode identified in Blackham's previous round of drilling between two historical stopes. Drilling totalled five underground drill holes for 691m.


Highlights:

- Bulletin Underground Drill results:

-- 8.7m @ 8.99g/t Au incl. 6m @ 11.95g/t (78g*m) (BUUD0012)

-- 8.8m @ 4.60g/t Au incl. 3m @ 9.81g/t (40g*m) (BUUD0009)

-- 8.2m @ 2.67g/t Au (22g*m) (BUUD0011)

-- 15.0m @ 1.70g/t Au & 6.2m @ 4.17g/t Au (51g*m) (BUUD0013)

- Drilling from the Bulletin decline continues to produce outstanding results between the historical stopes.

- Extends the Bulletin gold resource and upgrades Inferred resources to Indicated.

- Mine access and development in place

Drilling has returned outstanding results of 8.7m @ 8.99g/t from 85m incl. 6m @ 11.95g/t from 86m in drill hole BUUD0012, and 8.8m @ 4.60g/t from 80m incl. 3m @ 9.81g/t from 86m in BUUD0009, demonstrating continuity of grade and width.

Further underground drilling at Bulletin is planned to commence at the beginning of May, to further infill the area down plunge of high-grade intercepts.

Prior to this drilling the Bulletin resource was estimated at 1.6Mt @ 4.8g/t for 247,000oz Au (50% indicated), and the Bulletin ore reserve was estimated at 938kt @ 4.7g/t for 142,000oz. These results are expected to upgrade existing resources from Inferred to Indicated category, leading to further ore reserve additions.

The Bulletin mine forms part of the Blackham's 100% owned Matilda Gold Project in Western Australia. On the 24 February 2016, Blackham published the results of its Definitive Feasibility Study (DFS) on the Matilda Gold Project which confirmed the robust nature of the Project.


BULLETIN UNDERGROUND DRILL RESULTS

Bulletin is a high-grade ore body located within the mineralised Wiluna Fault System. The Bulletin ore body trends northeast to southwest and dips steeply to the southeast. Historical stoping focused on two higher-grade shoots within the main lode down to a depth >600m.

Drilling has established gold continuity in the area between the high grade historical stopes, and is expected to upgrade the resource in the area to Indicated from Inferred category.

Blackham's strategy is to identify shallow ore reserves within 500m from surface. These high-grade results come from an area situated only 150m below surface and remain open at depth. The Bulletin orebody remains accessible via the Bulletin portal and decline.

The Bulletin Resource was recently upgraded to 1.6Mt @ 4.8g/t for 247,000oz Au, see ASX report 14th March 2016 (Table 1, see link below).


Gold Resources

The Matilda Gold Project now has 45Mt @ 3.2g/t for 4.7Moz (50% indicated) of resource all within a 20 kilometres radius of Blackham's 100% owned Wiluna gold plant which is targeted for over 100,000ozpa gold production per annum. Measured and indicated resources now total 21Mt @ 3.4g/t for 2.3Moz.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/X20FJWK1


About Blackham Resources Ltd:

Blackham Resources Limited (ASX:BLK), a Western Australian resources company, is focused on exploration and development at the Matilda and Williamson Gold Mines in the Wiluna gold belt of Western Australia. The Matilda Gold Project incorporates over 780 square kilometres of tenements including Regent and the Matilda and Williamson Gold Mines containing total JORC 2012 resources of 44Mt @ 3.3 g/t for 4.7 Moz ounces of gold. These tenements cover around 45 kilometres of strike along the Wiluna Mine Sequence and 10 kilometres of strike along the Coles Find Sequence. The Wiluna Mine & Coles Find Sequence has historically produced 4 million ounces of gold.



Contact:

Bryan Dixon, Managing Director
Blackham Resources
T: +61-8-9322-6418
E: info@blackhamresources.com.au
www.blackhamresources.com.au

Tony Dawe, Professional Public Relations
T: +61-8-9388-0944