Blacksteel Energy Inc. receives TSX Venture Exchange acceptance - Commences
trading under symbol 'BEY'

Trading Symbol: BEY -TSX: V

CALGARY , Jan. 12 /CNW/ - Blacksteel Energy Inc. ("Blacksteel" or the "Company") is pleased to announce that the TSX Venture Exchange ("Exchange") has accepted for filing the Company's Qualifying Transaction ("QT"). As a result, at the opening of markets today, the shares of the Company will resume trading under the symbol BEY and the Company will no longer be considered a Capital Pool Company.

Details of the QT are available in the Filing Statement of the Company dated November 30, 2009 . Shareholders are encouraged to review this document which is available under Blacksteel's profile on SEDAR at www.sedar.com. Further details of the closing of the QT and associated private placement are included in a news release dated December 31, 2009 which is also available on SEDAR.

In announcing the Exchange acceptance Mr. Walter Wakula , Chairman of Blacksteel stated: "The commencement of trading of Blacksteel on the TSX Venture Exchange is a significant milestone for the Company opening a new chapter in its corporate development and fulfilling an objective set by its founding shareholders over two years ago. I thank the management teams of Blacksteel Oil Sands and Chrome Capital, their boards of directors and their professionals for the exceptional effort undertaken by them to complete this process. Also, I thank Blacksteel's founding, early days and newest shareholders for the faith they have shown in our team to enable us to launch and finance the growth to date of this exceptional enterprise."

Blacksteel is a junior oil and gas company focused primarily on oil sands development. Its principal business activity is the exploration, exploitation, development and production of petroleum and natural gas resources in the Western Canadian Sedimentary Basin. The Company has a 100% working interest in 22 sections (14,080 acres) of Crown oil sands leases in the Peace River area of northern Alberta and a working interest in a natural gas producing property in Grassland, Alberta, approximately 180 km north of Edmonton , Alberta.

    
    ON BEHALF OF THE BOARD OF DIRECTORS OF
    BLACKSTEEL ENERGY INC.

    "Walter Wakula"

    ------------------------
    Walter Wakula, Chairman of the Board

    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.
    

For further information: Jacques Soroka, President, CEO and Director, Blacksteel Energy Inc. (formerly Chrome Capital Inc.), Phone: [phone]