Blacksands Petroleum, Inc.

News Release

February 21, 2008

Blacksands announces revised stock option plan and the granting of stock options

Toronto, Ontario, February 21, 2008 -- Blacksands Petroleum, Inc. (OTC Bulletin Board: BSPE) (the "Company") wishes to announce that the Board of Directors approved a revised stock option plan for the Company on February 15, 2008.�� The revised stock option plan is subject to regulatory and shareholder approvals.

As well, the Company wishes to announce that on February 15, 2008, it granted 2,200,000 stock options to officers, directors and consultants of the Company.�� These options are exerciseable at $1.90 per share for a term of five years, subject to all necessary approvals, and have the following vesting provisions:

991,666 options vested immediately

604,166 options vest when the stock price trades at or above $2.50 for ten consecutive trading days; and

604,168 options vest when the stock price trades at or above $3.00 for ten consecutive trading days

About Blacksands:

Blacksands Petroleum, through its 75% ownership of Access Energy Inc. - a private Canadian company - is engaged in the business of exploring for, developing and operating unconventional oil and gas projects. Such projects may include oil produced from tar sands, also referred to as oil sands, or bituminous sands, which are a combination of clay, sand, water, and bitumen. "Paul A. Parisotto" President & CEO

For further information, please contact: Paul A. Parisotto President & CEO 416-359-7805



News: April 6, 2010 Acquisition of Beech Creek Gross Working Interest March 18, 2010 Appointment to Board of Directors November 16, 2009 Gas Well Asset Acquired July 29, 2009 Management Change May 28, 2009 Corporate Updates Stock Information: OTC BB : BSPE.OB		News Release February 21, 2008 Blacksands announces revised stock option plan and the granting of stock options Toronto, Ontario, February 21, 2008 -- Blacksands Petroleum, Inc. (OTC Bulletin Board: BSPE) (the "Company") wishes to announce that the Board of Directors approved a revised stock option plan for the Company on February 15, 2008.�� The revised stock option plan is subject to regulatory and shareholder approvals. As well, the Company wishes to announce that on February 15, 2008, it granted 2,200,000 stock options to officers, directors and consultants of the Company.�� These options are exerciseable at $1.90 per share for a term of five years, subject to all necessary approvals, and have the following vesting provisions: 991,666 options vested immediately 604,166 options vest when the stock price trades at or above $2.50 for ten consecutive trading days; and 604,168 options vest when the stock price trades at or above $3.00 for ten consecutive trading days About Blacksands: Blacksands Petroleum, through its 75% ownership of Access Energy Inc. - a private Canadian company - is engaged in the business of exploring for, developing and operating unconventional oil and gas projects. Such projects may include oil produced from tar sands, also referred to as oil sands, or bituminous sands, which are a combination of clay, sand, water, and bitumen. "Paul A. Parisotto" President & CEO For further information, please contact: Paul A. Parisotto President & CEO 416-359-7805