Black Dragon Reports Status of Potential Funding Sources.

OIL CITY, La. -- Mr. Joseph Lanza, President of Black Dragon Resource Companies, Inc. (BDGR: PinkSheets), reported today that management is continuing its advanced negotiations with various funding sources and expects to be able to report by the end of next week with further and with more definitive details.

Meanwhile the Company continues to work closely with the Summit Group, which is slated to be part of the new management team after the funding is secured, at which time Mr. Lanza plans to resign.

Mr. Lanza also reported that there is a potential for new deep zones associated with certain of the Company's existing leasehold interests. Mr. Lanza added that one of the newly discovered zones is the Haynesville Sands, which are producing 13 MCF to 25 MCF per day. Mr. Lanza added that he anticipates that with the new funding, the Company will be able to prove the potential of these deep zones, which is important in light of the fact that certain major companies are now buying up mineral rights and driving up the price of acquisitions of such interests to all-time highs.

About Black Dragon Resource Companies, Inc.

(www.black-dragonoil.com) Black Dragon specializes in increasing the production of crude oil and natural gas from wells whose production amounts to 15 barrels of crude oil or less per day. The reduced production of these wells, a result of abandonment or plugging because of dropping prices of crude oil through the 1980s, represents a significant opportunity to capitalize on local resources, while lessening domestic dependence on foreign oil. Black Dragon continues to acquire wells in the oil-rich regions of Louisiana and Eastern Texas, augmenting its portfolio to over 400 operating oil wells.

Forward Looking Statements:

Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties, including but not limited to economic, competitive, governmental and technological factors effecting the Company's operations, markets, products and prices and other factors discussed in the Company's various filings with the Securities and Exchange Commission.