Thompson Bros. Lithium Project

Property Highlights - June 2008

Acquisition and Planned Work
In December 2007, Black Pearl entered into an option agreement on Thompson
Bros. Lithium near Snow Lake, Manitoba. The project is a surface spodumenerich
pegmatite dike with a historical resource of four million tonnes of 1.3% Li2O.
Black Pearl Minerals has retained WRG Industrial Minerals Consultant Inc. to
complete a scoping study of the deposit in conjunction with SGS Minerals
Services at the Lakefield site. Metallurgical test-work and economic scoping
studies were initiated in January 2008.

In conjunction with obtaining a bulk sample for the sample analysis and
processing trials required for the scoping study, the Black Pearl also plans to take
a bulk sample for analysis by a Lithium Hydroxide & Lithium Carbonate
manufacturer in China.

Location
The Thompson Bros. Lithium Deposit is located on the eastern shore of
Crowduck Bay, Wekusko Lake, 20 km east of the mining community of Snow
Lake, Manitoba. The main highway to Thompson and Flin Flon, plus the railway
to the Winnipeg and the seaport of Churchill passes 40 km south of the property.
The property consists of 12 contiguous claims covering 717 hectares. Manitoba
is one of the top rated mining jurisdictions in the world and electricity costs are
amongst the lowest in North America.

Property Description and Previous Work
The lithium deposit is a spodumene rich pegmatite dike with a near vertical dip
and a strike length of over 800 metres. The dike was originally drilled in 1956 by
Combined Developments Limited, with three additional holes drilled by Carta
Resources Limited in 1997; for a total of 30 drill holes. A resource calculation
made by B. Ainsworth, P. Eng. in 1998, resulted in an "undiluted drill indicated
mineral resource" of 3,968,000 tonnes with a weighted average value grade of
1.29% Li2O to the 130 metre level, and an average width of 10 metres. A further 337,000 tonnes is indicated by the deepest hole (D.H. Car-97-2), to the 380
metre level, which is over 200 metres from the nearest hole, and which cut a
horizontal width of 8 metre of 1.3% Li2O. Thus, Ainsworth suggests a total drill
indicated and possible total resource calculation of 4,305,000 tonnes of 1.3%
Li2O for the deposit, open to depth and along strike.

Note: This resource calculation was completed in 1998 and is considered
historical and thus is not National Instrument 43-101 compliant. In addition, the
Company has not completed sufficient work to classify this historical estimate as
a current under the guidelines set forth by the Canadian Institute of Mining and
Metallurgy and should not be relied upon. However, given the quality of the work
completed, the company believes the resource estimate to be relevant enough to
base its exploration programs.

A metallurgical evaluation of the spodumene deposit by Dr. W. Dressler of
Laurentian University indicated that simple floatation would recover 92% of the
spodumene and produce a concentrate grading 6.6% Li2O or 89.2% spodumene.
Carta Resources completed a business plan to develop the Thompson Bros.
Lithium Deposit for the production of lithium carbonate, but a decline in lithium
carbonate prices stalled the project in 1998.

More recently, the increased demand of lithium carbonate has driven a
resurgence of exploration and development of the Thompson Bros. Lithium
Deposit.