Blue Note Mining Inc. - Press Release Under the Early Warning System

MONTREAL, Oct 8 /CNW Telbec/ - This press release is issued by Blue Note Mining Inc. (TSXV: BNT) ("Blue Note") under Regulation 62-103 Respecting the Early Warning System and Related Take-Over Bid and Insider Reporting Issues ("Regulation 62-103").

X-Ore Resources Inc. ("X-Ore"), a wholly-owned subsidiary of Blue Note, acquired ownership of 500,000 common shares ("Shares") of Amex Exploration Inc. ("Amex") on October 5, 2010 under a share purchase agreement dated March 17, 2010 between X-Ore and Amex (the "Agreement"). Blue Note has control over X-Ore's Shares and Share purchase warrants ("Warrants"). For more details, see Blue Note's news release of March 18, 2010.

Blue Note's address is 1 Place Ville-Marie, Suite 1511, Montreal, Quebec H3B 2B5.

As of the date of this news release, X-Ore owns 2,500,000 Shares, and 400,000 vested Warrants, representing approximately 9.12% of the currently outstanding Shares (approximately 10.43% upon conversion of X-Ore's Warrants). Under the Agreement, on or prior to December 31, 2011, X-Ore will be receiving a total of 7,000,000 Shares and 1,000,000 vested Warrants to be exercisable over a period of 24 months following their issuance.

Under the Agreement, X-Ore transferred to Amex all of the outstanding shares of X-Ore International Inc., a subsidiary of X-Ore that held mining assets and conducted exploration activities in Mexico through its subsidiary Minerales X-Ore SA de CV. The Shares and Warrants were issued in consideration of this transfer.

X-Ore intends to hold the Shares and Warrants for investment purposes.

A copy of the report filed under Regulation 62-103 is available by contacting Mr. Jean Mayer, Executive Vice President, Blue Note Mining Inc., at [phone] x236.

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:

Jean Mayer
Executive Vice President
[phone] x236
[email protected]
www.bluenotemining.ca