Blue Pearl Reports Further Drill Results From Davidson Project.

TORONTO -- Blue Pearl Mining (TSX:BLE)(TSX:BLE.WT)(FRANKFURT:A6R) is pleased to announce further drill results from an underground drill program underway on the Company's Davidson Project near Smithers, B.C. Results from the first hole in this program, Hole 165, were reported in a news release dated February 3, 2006.

Results from three more drill holes in the Lower Deposit have been received. Hole 166 returned 0.37% MoS2 over 39.6 metres, Hole 167 returned 0.41% MoS2 over 27.4 metres and Hole 168 returned 0.33% MoS2 over 27.0 metres. To view a diagram of the current drill program, please visit the following link: http://www.ccnmatthews.com/docs/ble0224.jpg

The Lower Deposit appears to be shallow dipping and the drill intercepts appear to be representative of approximate true thickness.

A total of nine holes have now been drilled on the Lower Deposit in this program. Results are pending for holes 169 through 173. All but one hole in this program, Hole 172, appears to have intersected the mineralized zone. Hole 172 is the most easterly hole drilled to date on this deposit and is approximately 70 metres east of Hole 167.

The current drill program is designed to test molybdenum mineralization located approximately 300 metres below the Main Deposit. This Lower Deposit was discovered by Climax Molybdenum in 1972 with two drill holes, numbers 142 and 143, which returned 0.46% MoS2 over 49 metres and 0.37% MoS2 over 36.5 metres, respectively. Hole 165, approximately 30 metres southwest of Hole 143, was the first follow-up hole done on this zone since 1972 and intersected 48.8 metres grading 0.46% MoS2.

Results from the Lower Deposit are not included in the previously reported mineral resource for the Main Deposit of the Davidson Project. Based on a technical report compliant with National Instrument 43-101 and filed on SEDAR, and using a cut-off grade of 0.2% MoS2, the Main Deposit is estimated to contain a measured and indicated mineral resource of 83.0 million tons grading 0.295% MoS2 representing 293.5 million pounds of molybdenum (please refer to the Company's news release of March 3, 2005). Regarding this mineral resource estimate, Gary Giroux, P. Eng., is the independent qualified person in accordance with National Instrument 43-101 and has read and approved this news release.

The top of the Lower Deposit is located approximately 350 metres below the level of the existing underground workings, and the bottom of the Lower Deposit is about 75 metres above the elevation of a proposed new portal.

Sampling, Assaying and Quality Control

Samples are taken as half of the split core. ACME Laboratories Ltd. of Vancouver, B.C., Canada, is being used for sample preparation and assaying. ACME Laboratories uses industry standard procedures. Core samples were crushed to pass a 10-mesh-size sieve, a 200- to 250-gram split was then pulverized to have no greater than 95% passing a 200-mesh-sized sieve to produce a homogenized sub-sample.

Internal quality control programs include the use of blanks, duplicates, internal standards, certified standards and internal check assaying. External check assays will be routinely performed at Chemex Laboratories of North Vancouver, B.C., Canada, with check samples submitted independently by the Company.

Qualified Person

Jim Hutter, a consultant to the Company, is the Qualified Person on this exploration program as defined by National Instrument 43-101. The drilling program is being conducted under the supervision of Mr. Hutter who has read and approved this news release.

About Blue Pearl

Blue Pearl is a Canadian mineral resource company focused solely on developing the Davidson molybdenum deposit near Smithers, B.C.

Shares outstanding: 45,366,827

Blue Pearl Mining Ltd. (TSX:BLE) (TSX:BLE.WT)