AlphaNorth 2012 Flow-Through Limited Partnership Files Early Warning Report

TORONTO, March 15, 2012 /CNW/ - AlphaNorth 2012 Flow-Through Limited Partnership (the "Fund") announces it has acquired beneficial ownership of 3,125,000 common shares and 1,562,500 common share purchase warrants of Blackbird Energy Inc. ("Blackbird") in connection with the completion of a private placement offering of flow-through units ("Units") at a price of $0.16 per Unit. Each Unit is comprised of one common share issued as a "flow-through share" and one-half of one common share purchase warrant. As a result of the acquisition, the Fund is the beneficial owner of an aggregate of 3,125,000 common shares and 1,562,500 common share purchase warrants of Blackbird, representing approximately 5.2% of the issued and outstanding common shares of Blackbird (assuming exercise of all the common share purchase warrants beneficially owned by the Fund.

The Fund, together with AlphaNorth Asset Management (the "Manager") exercise control or direction over 5,815,000 common shares and 4,582,500 common share purchase warrants in the capital of the issuer, representing approximately 11.5% of the issued and outstanding common shares. This is assuming the exercise of all common share purchase warrants over which the Fund, together with the Manager exercises control or direction. The Fund relied on the "accredited investor" exemption from the prospectus requirement in connection with the acquisition contained in section 2.3 of National Instrument 45-106 Prospectus and Registration Exemptions.

The common shares of Blackbird are listed on the TSX Venture Exchange and trade under the trading symbol "BBI". AlphaNorth acquired beneficial ownership of the securities for investment purposes. Depending on market and other conditions, AlphaNorth may in the future increase or decrease its investment in Blackbird.

An Early Warning Report respecting this acquisition will be filed on the System for Electronic Document Analysis and Review ("SEDAR") under Blackbird's profile and can be viewed at www.sedar.com.

The issuance of this news release is not an admission that an entity named in the report owns or controls any described securities or is a joint actor with another named entity.

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 news release.

Ken Choi
AlphaNorth 2012 Flow-Through Limited Partnership
c/o AlphaNorth Asset Management
144 Front Street West, Suite 420
Toronto, ON  M5J 2L7
Tel: [phone] x233