BDGR - Black Dragon Announces Advance Negotiations Relating to Potential Major Funding

[lamborghini]

Black Dragon Announces Advance Negotiations Relating to Potential Major Funding
(PR Newswire 12/28 13:46:15)

OIL CITY, La., Dec. 28 /PRNewswire-FirstCall/ -- Mr. Joseph Lanza,
President of Black Dragon Resource Companies Inc., (Pink Sheets: BDGR)
announced today that the Company is in final negotiation with a Funding Group
to form a joint venture whereby the Funding Group will provide financing to
the joint venture and to Black Dragon in a very substantial amount, which
funding, according to Mr. Lanza, could well exceed $100,000,000. in debt
financing.

The transaction is conditioned upon the audit being completed by the
Funding Group, a verification of Black Dragon's oil and gas reserves estimated
at 12.7 Billion which has already been completed to the satisfaction of the
Funding Group and the delivery of Black Dragon's financial information to the
Funding Group, which also has been accomplished. The only significant
remaining condition to be satisfied is the details of a joint venture
agreement, satisfactory in form to both parties.

Black Dragon will not disclose the name of the Funding Group in order to
protect against interference with the negotiations, which should be concluded
very soon. Upon consummation of the transaction the Funding Group will own 51%
of the joint venture and Black Dragon 49% with the Funding Group to install
new management, "including my resignation," added Mr. Lanza.

The transaction is subject to Board of Directors and shareholders'
approval and Management intends to present the proposed transaction to the
shareholders at the adjourned stockholders meeting, Wednesday, January 16,
2008. No further details of the transaction were disclosed.