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GOLDNEV RESOURCES INC. ANNOUNCES RESULTS OF 2010 ANNUAL AND SPECIAL MEETING

February 28, 2011

CALGARY, Feb. 28 /PRNewswire-FirstCall/ – Goldnev Resources Inc.
(“Goldnev” or the “Corporation”) (TSXV: GNZ), is pleased to announce results
of its annual and special meeting (the “Meeting”) of the shareholders held on
Thursday, February 24, 2011. 42,925,659 shares, representing 29.06% of the
Corporation’s outstanding shares were represented in person or by proxy at the
Meeting.

All matters tabled for consideration, as outlined on the Corporation’s
Notice of Annual and Special Meeting of Shareholders, were approved at the
Meeting by represented shareholders. The following appointments and
resolutions were made and are discussed below:

Election of Directors

Incumbent directors, Marc Dame, Charles Chapman, Merrill Moses and Steven
Craig
were duly re-elected to the Board of Directors with 99.87% of the votes
cast voting in favor, and will hold office until the next Annual Meeting of
the Shareholders. Shareholders also voted to approve setting the number of
directors at four for the ensuing year with 99.77% of the votes cast voting in
favor.

Appointment of Auditors

Shareholders approved with 99.61% votes cast voting in favor, the
re-appointment of Meyers Norris Penny LLP, Chartered Accountants as the
external auditors of the Corporation whom will hold office until the next
Annual Meeting of the Shareholders, at such remuneration as may be determined
by the Corporation.

Stock Option Plan

Shareholders approved a resolution with 92.60% of the votes cast voting in
favor, ratifying and confirming the Corporation’s 2010 Stock Option Plan, as
required under the policies of the TSX Venture Exchange.

Corporate Registration Continuance

Shareholders approved a special resolution with 100% of the votes cast
voting in favor, authorizing the continuation of the Corporation from the
province of British Columbia to the province of Alberta.

Corporate Name Change

Shareholders approved a special resolution with 100% of the votes cast
voting in favor, to amend the Corporation’s articles to change the name of the
Corporation from “Goldnev Resources Inc.” to “Blackstone Petroleum Inc.”, or
such other name as the directors may determine.

Marc Dame, President & CEO, stated, “We thank the shareholders who
attended the Meeting in person or by proxy, and look forward to serving all
Goldnev shareholders during the ensuing year as we continue our efforts to
build the Corporation through acquisition and development of the Corporation’s
oil shale project in the Pasquia Hills region of east-central Saskatchewan,
its light oil property in the Turner Valley area of southwestern Alberta and
its natural gas prospect in the Noel area of Northeastern British Columbia.”

“We are excited to announce that the special resolution approving the name
change of the Corporation to Blackstone Petroleum Inc. will be now be
implemented and which will provide a better perception and reflection of the
Corporation’s focus on the oil and gas sector and in particularly its large
oil shale resource development project in Pasquia Hills, Saskatchewan.

Neither the TSX Venture Exchange, nor its Regulation Service Provider (as
the term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.

About Goldnev

Goldnev Resources Inc. is a public energy company focused on the
exploration and development of unconventional and conventional crude oil and
natural gas production in east central Saskatchewan, northeastern British
Columbia
and southwestern Alberta. Goldnev shares trade on the TSX Venture
Exchange under the symbol “GNZ.”

Anyone wishing to be added to the Corporation’s news release recipients
list may forward an e-mail request to info@goldnevresources.com.

For further information on Goldnev and its projects, please visit our
website at www.goldnevresources.com, or email at info@goldnevresources.com.

SOURCE Goldnev Resources Inc.


Source: newswire



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