Blue Note Announces Brokered Private Placement of up to $2 Million Proceeds
to be Used for Gold Exploration in Quebec and New Brunswick

    Shares Outstanding: 104.8 Million
    Symbol & Exchange: BNT.V

MONTREAL, April 16 /CNW Telbec/ - Blue Note Mining Inc. (TSXV: BNT) announces today that it has entered into a brokered private placement agreement with Jones, Gable & Company Limited ("Jones Gable") whereby Jones Gable will act as lead underwriter in a private placement of up to a maximum of $1,995,500 in Flow-Through Units.

Each Flow-Through Unit, priced at $0.13 per Flow-Through Unit, will consist of one common share and one common share purchase warrant. Each such whole warrant will be exercisable into one common share for a period of two years from closing at an exercise price of $0.25 per share.

The Flow-Through Units will be issued pursuant to applicable prospectus and registration exemptions and will be subject to a statutory hold period of four months and one day from closing.

The company will pay Jones Gable 10% of the aggregate gross proceeds of the offering, payable at closing. In addition, the company will issue Jones Gable options to purchase that number of Units from the treasury of the company that is equal to 10% of the number of Units subscribed for under the offering. Each broker warrant will be exercisable into one Unit at the issue price at any time prior to the date that is 24 months from closing.

It is anticipated that the financing will be completed on or before the close of business on May 21, 2010. Closing of the offering is subject to the usual regulatory approvals.

The company intends to utilize the proceeds from the sale of the Flow-Through common shares for exploration work on Blue Note's gold properties which are located in northern New Brunswick and Val-d'Or, Québec.

As recently announced, Blue Note is currently preparing a drill program to test previously identified zones of gold mineralization that were drilled but never followed up on at its 100 percent-owned Chimo gold property located near Val-d'Or, Quebec (see news release dated April 12, 2010).

Four distinct zones of gold mineralization were identified by the previous owner; Cambior Inc. Cambior ceased mining operations there in 1996. The Chimo gold mine operated on three separate extended occasions between 1966 and 1996.

These four mineralized gold zones that warrant follow up drilling are located in close proximity to the Chimo mine shaft.

Blue Note's 100 per cent-owned Chimo gold property is located 25 kilometers from the Croinor gold project of which Blue Note is operator and 50 percent interest holder.

Blue Note confirms that such drill program slated for its Chimo gold property and the previously announced drill work program for the Croinor gold project (see news release dated April 8, 2010) are both already fully funded.

In related news, Blue Note announces that it has engaged UK-based Wimmer Financial to focus on capital fundraising with regards to Blue Note's joint venture with First Gold Exploration Inc. to put the Croinor gold property into production.

John Martin, P. Eng., Chief Operating Officer, Blue Note Mining Inc., is a Qualified Person and has reviewed the technical information contained in this press release.

About Blue Note Mining

Blue Note Mining is a mineral exploration and mining company headquartered in Montreal with properties located in known gold regions in Canada, including the prolific Val-d'Or region of Quebec and northern New Brunswick. The company's shares trade on the TSX Venture Exchange under the symbol BNT.

Forward-Looking Statements

This news release contains discussion of items that may constitute forward-looking statements within the meaning of securities laws that involve risks and uncertainties. Although the company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Factors that could cause actual results to differ materially from expectations include the effects of general economic conditions, actions by government authorities, uncertainties associated with contract negotiations, additional financing requirements, market acceptance of the Company's products and competitive pressures. These factors and others are more fully discussed in Company filings with Canadian securities regulatory authorities.

"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."

SOURCE Blue Note Mining Inc.

For further information: For further information: Glenn Massad, Vice President, Investor Relations, Blue Note Mining, (800) 937-3095 x230,;

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