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Black Widow Resources Inc. Announces Cdn$1,460,000 Private Placement Financing

TORONTO, ONTARIO -- (Marketwired) -- 12/12/13 -- Black Widow Resources Inc. (TSX VENTURE: BWR) ("Black Widow" or the "Company") announces that it intends to complete a non-brokered private placement offering of units ("Units") at Cdn$0.10 per Unit and flow-through units ("FT Units") at Cdn$0.12 per FT Unit for aggregate gross proceeds of up to Cdn$1,460,000 (the "Offering").

Each Unit will consist of one common share and one common share purchase warrant (a "Warrant"). Each FT Unit will consist of one common share to be issued on a "flow-through" basis and one-half of one Warrant. Each whole Warrant will entitle the holder to acquire a further common share of the Company at a price of $0.15 per share for the first year from the closing of the Unit Offering, $0.20 per share for the second year from the closing of the Unit Offering and $0.25 per share for the third year from the closing of the Unit Offering.

In connection with the Offering, the Company may pay finder's fees to arm's-length third parties consisting of: (i) cash commission of up to 8% of the gross proceeds of the Offering; and (ii) broker warrants ("Broker Warrants") in an amount up to 8% of the total number of Units and FT Units issued under the Offering. Each Broker Warrant will expire 24 months from the date of issue (the "Broker Warrant Expiry Date") and will entitle the holder thereof to purchase one Unit of the Company at a price of $0.10 per Unit at any time up until the Broker Warrant Expiry Date.

The proceeds from the FT Unit offering will be used to advance and execute a drilling program on the Company's Shunsby property and to advance exploration on the Company's other properties. The net proceeds from the Unit offering will be used for general corporate purposes.

All securities to be issued under the Offering will be subject to a four-month statutory hold period in Canada. For more information on the Company and to see a copy of the term sheet and the investors presentation in connection with this Offering please go to the Company's web page at www.blackwidowresources.com.

About Black Widow Resources

Black Widow is a newly listed public company (TSX VENTURE: BWR) focused on exploring for base and precious metals, with exploration projects in Northern Ontario, Canada. Management of Black Widow includes an accomplished group of exploration/mining, administrative and legal specialists with many decades of operational experience in the junior resource sector.

Neither the Toronto 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 more information about Black Widow please visit our website: www.blackwidowresources.com.

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