Blacksands announces the agreements between its subsidiary, Access Energy, and La Loche ratified



    TORONTO, Feb. 17 /CNW/ - Blacksands Petroleum, Inc. (OTC Bulletin Board:  
BSPE) (the "Company") wishes to announce that the Joint Venture Agreement and
the Impact Benefit Agreement (the "Agreements") its 75% owned subsidiary,
Access Energy Inc. ("Access") entered into with the La Loche Clearwater
Development Authority Inc. ("La Loche") on October 15, 2008 have been
overwhelmingly approved by the local La Loche aboriginals in a community vote
on February 14, 2009.
    The Agreements provide land access rights to Access for purposes of
exploration of petroleum, natural gas and crude bitumen and any metals,
minerals or coal in the La Loche traditional lands. In exchange for granting
Access the exclusive 20-year right to enter upon the La Loche traditional
lands, Access has agreed to provide all financial and managerial resources to
facilitate development, to involve the local aboriginal community, to pay an
annual fee, and to provide royalties from production.
    The Agreements cover approximately 3,000,000 hectares of La Loche
traditional lands in north western Saskatchewan, Canada, north and west of the
northern town of La Loche, Saskatchewan.

    About Blacksands

    Blacksands Petroleum, through its 75% ownership of Access Energy Inc. - a
private Canadian company - is engaged in the business of exploring for,
developing and operating unconventional oil and gas projects. Such projects
may include oil produced from tar sands, also referred to as oil sands, or
bituminous sands, which are a combination of clay, sand, water, and bitumen.

    
    "Paul A. Parisotto"
    President & CEO
    

    Cautionary Note Concerning Forward-Looking Statements

    This press release includes certain "forward-looking statements" within
the meaning of the United States Private Securities Litigation Reform Act of
1995. All statements, other than statements of historical fact, included
herein including, without limitation, the word "expect" and similar
expressions identify forward-looking statements. Forward-looking statements
involve various risks and uncertainties. There can be no assurance that such
statements will prove to be accurate, and actual results and future events
could differ materially from those anticipated in such statements. The
Company's forward-looking statements are based on the beliefs, expectations
and opinions of management on the date the statements are made, and the
Company does not assume any obligation to update forward-looking statements if
circumstances or management's beliefs, expectations or opinions should change
except as required by law. For the reasons set forth above, investors should
not place undue reliance on forward-looking statements. The information
related to the restatements in this press release remains subject to review
and audit by Company's independent auditors and to completion of the audit of
the Company's 2008 financial statements. Although the Company does not expect
material changes to the information set forth in this release, the completion
of this process could result in further adjustments and the actual impacts may
be different from those currently anticipated as set forth in this press
release. There can be no assurance that the amount of any further adjustments
will not be material. Other risks and uncertainties disclosed in the Company's
10-KSB for the year ended October 31, 2007, filed with the United States
Securities and Exchange Commission, and other information released by the
Company from time to time and filed with the appropriate regulatory agencies.





For further information:

For further information: Paul A. Parisotto, President & CEO, (416)
359-7805

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BLACKSANDS PETROLEUM, INC.

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