Blue Note's Shares to Begin Trading on TSX-V; Consolidation to take Effect

Blue Note is sending a letter of transmittal to its registered shareholders indicating the procedure to follow in order to exchange their current share certificates for new post-consolidation share certificates.

Shareholders should follow the procedure outlined in that letter to receive their new share certificates. Additional copies of the letter may be obtained by contacting CIBC Mellon Trust Company by phone at 1-800-387-0825 or, in Toronto, at 1-416-643-5500 or by email at inquiries(at)cibcmellon.com.

In connection with Blue Note's plan of arrangement approved by the Superior Court of Quebec on August 4, 2009 (the "Plan"), Blue Note has issued 14,847,649 Common Shares to PricewaterhouseCoopers Inc. (the "Monitor") as monitor under the Plan, representing 31.43% of the outstanding Common Shares.

In accordance with the Plan, the Monitor will sell those Common Shares in an orderly fashion and remit the proceeds to certain creditors of Blue Note, the whole as described more fully in the Plan. Following implementation of the Plan, Blue Note will have 47,240,066 shares outstanding on a post-consolidation basis.

In accordance with the requirements of Regulation 45-102 respecting Resale of Securities, the Monitor will not sell any Common Shares before December 29, 2009. Thereafter, Blue Note's quarterly news releases issued in connection with its interim and annual financial statements shall disclose the number of Common Shares the Monitor then holds.

The Monitor has entered into a voting trust agreement with respect to the Common Shares. Under that agreement, the Monitor may not exercise any voting rights attached to the Common Shares it holds in trust, nor receive any dividends declared or any remaining property of Blue Note upon dissolution.

A copy of the early warning report to be filed may be obtained by contacting Blue Note as per the contact information below.

Blue Note Mining is a Canadian mineral exploration and mining company headquartered in Montreal with operations in Bathurst, New Brunswick. The company's shares trade on the NEX under the symbol BN.

<< Forward-Looking Statements -------------------------- >> This news release contains discussion of items that may constitute forward-looking statements within the meaning of securities laws that involve risks and uncertainties. Although the company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved.

Factors that could cause actual results to differ materially from expectations include the effects of general economic conditions, actions by government authorities, uncertainties associated with contract negotiations, additional financing requirements, market acceptance of the Company's products and competitive pressures. These factors and others are more fully discussed in Company filings with Canadian securities regulatory authorities.

<< The NEX does not accept responsibility for the adequacy or accuracy of this news release.

>> -0- 08/28/2009 /For further information: Michael Judson, President & Chief Executive Officer, Blue Note Mining, (800) 937-3095, mjudson(at)bluenotemining.ca, www.bluenotemining.ca/ (BN.H.) CO: BLUE NOTE MINING INC.

ST: Quebec IN: MNG SU: -30- CNW 12:09e 28-AUG-09