VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 7, 2012) -Black Smoker Ventures Inc.(CNSX:BSM) ("Black Smoker" or the "Company") announces that the Company has commenced drilling at its wholly owned Fox Lake project, located in Manitoba, Canada. Cyr Drilling International Ltd., a leading core drilling company based in Winnipeg, is conducting this initial program.

Black Smoker's drill program is designed to test the deep conductor identified in this past summer's deep-penetrating Squid survey. The Fox Lake project has never been tested at depth, and this signature has emerged as the primary drill target for the first-phase campaign after modeling and interpretation work was completed.

The initial 1,600-metre program is expected to be completed over a 45-day period. The drill program is testing deeply-buried conductive targets directly beneath the Fox Mine ore bodies; these targets were identified by the company when it completed the first-ever deep-penetrating geophysical survey of this land package.

Fox Lake project overview:

• The Fox Lake project was one of Manitoba's largest historical VMS deposits and copper producers.
• The Fox Lake project produced approximately 12 million tonnes at 1.82 per cent copper and 1.78 per cent zinc (in excess of 400 million pounds of copper) between 1970 and 1985.
• The Fox Lake project has not been explored below a 1,200-metre depth until the company completed a Squid electromagnetic geophysics survey on the property.

The Company's geophysical ground program resulted in the identification of a major target downdip of known mineralization, which could represent the existence of a new lens at depth. This signature extends to an approximate depth of 1,800 metres, and is situated approximately 600 metres below the deepest historical drill intersection.

The modeling and proposed drill collar location can be viewed on the Company's website [ www.blacksmokerventures.com ].

Carson Seabolt, President and Chief Executive Officer, states, "Through this drill program, Black Smoker is exposing investors to the potential of a new discovery beneath the Fox Lake Mine. We look forward to the drill reaching our target depth and are excited to ascertain the cause of this highly prospective geophysical anomaly."

About Black Smoker

Black Smoker is presently focused on the exploration of the Fox Lake Property in Manitoba, Canada. The Company will continue its core business while developing and assessing plans for the Fox Lake Property. A total of approximately 12 million tonnes grading 1.82 % copper and 1.78% zinc was produced from the Fox Mine in the years 1970 to 1985. Black Smoker is utilizing modern deep penetrating geophysical techniques to target new discoveries at depth and in proximity to the historic mine site. [ www.blacksmokerventures.com ].

Michael Moore, P.Geo., is an independent Qualified Person, as defined by NI 43-101, and has reviewed the technical aspects of this news release on behalf of the Company.

On behalf of the board of directors of:

BLACK SMOKER VENTURES INC.

Carson Seabolt, Chief Executive Officer

FORWARD-LOOKING STATEMENTS: This press release contains forward-looking statements, which address future events and conditions, which are subject to various risks and uncertainties. The Company's actual results and financial position could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Company's control. These factors include: results of exploration activities and development of mineral properties, fluctuations in the marketplace for the sale of minerals, the inability to implement corporate strategies, the ability to obtain financing, currency fluctuations, general market and industry conditions and other risks disclosed in the Company's filings with Canadian Securities Regulators.

Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise unless required by applicable securities law.