SURREY, BRITISH COLUMBIA--(Marketwired - Nov. 6, 2015) - Black Bull Resources Inc. ("Black Bull") (NEX:BBS.H) provides the following update in connection with its proposed reverse take-over transaction with AUS Critical Metals Ltd. ("AUS"), as previously announced on June 29 2015, April 30, 2014 and September 18, 2014 ("Transaction"). The previous definitive agreement is expected to remain similar to the previous agreement, to renew the Transaction and close on or before November 30, 2015.

Following the sale by AUS Streams of its Canadian based AUS Industrial Minerals Limited to DWF Capital, a private equity group in Australia, DWF has re-named AUS Industrial Minerals Limited, and it is now called Renewable Energy Minerals Limited ("REM"). In addition it has renewed the proposed AUS Stream transaction with REM. As a result, Black Bull today announces that the proposed take-over transaction will now be with REM, a private company that is wholly owned by DWF Capital Limited.

Reinstatement to Trading

The common shares of Black Bull will remain halted pending receipt by the TSXV of certain required materials from Black Bull and until Black Bull engages a sponsor or a sponsorship exemption is granted.

Description of Significant Conditions to Closing

When a new definitive agreement between Black Bull and REM is executed, which is expected to occur by November 30, 2015, in accordance with the policies of the TSXV, Black Bull will issue a subsequent press release containing the details of the definitive agreement and additional terms of the Transaction, including information relating to sponsorship, summary financial information in respect of AUS's assets, history of the assets, pro forma share capital of the resulting issuer, and further information regarding potential appointments of additional directors and officers upon completion of the Transaction.

Completion of the Transaction is subject to a number of conditions, including TSXV acceptance and disinterested shareholder approval. The Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the Management Information Circular or Filing Statement to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of the Company should be considered highly speculative.

Neither the TSX Venture Exchange, Inc. nor its Regulation Service Provider (as that term is defined under the policies of the TSX Venture Exchange) has in any way passed upon the merits of the Transaction and associated transactions and has neither approved nor disapproved of the contents of this press release.