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MONTREAL, March 29 /CNW Telbec/ - Blue Note Mining Inc. (TSXV: BNT)
("Blue Note") and Critical Elements Corporation (TSXV: CRE) ("Critical
Elements") report that they have agreed to extend the term of the
binding agreement announced on July 19, 2010 (the "Agreement")
providing for the acquisition by Blue Note of all of Critical Elements'
interests in the Croinor gold project located near Val-d'Or, Quebec.


Under the terms of the Agreement, Blue Note has already made cash
payments totaling $125,000 to Critical Elements and, in consideration
of an additional payment of $10,000, Blue Note now has until May 31,
2011, or such other later date as mutually agreed by Blue Note and
Critical Elements, to make a final payment of $2,250,000 to complete
the transaction. In addition, Blue Note shall issue 17.5 million common
shares to be held in escrow, for release at a rate of 500,000 shares
per month over 35 months from the date of closing. The transaction
includes Critical Elements' 71% ownership in the Matchi-Manitou
property.


About Blue Note Mining


Blue Note Mining is a mineral exploration and mining company
headquartered in Montreal with properties located in known gold regions
of Canada, including the prolific Val-d'Or region of Quebec and
northern New Brunswick.


About Critical Elements Corporation


Critical Elements Corporation is a Canadian mining exploration company
whose objective is to create value for its shareholders by acquiring
promising projects that can be brought into production in the short
term. The Company is focused on the rare metals and rare earths,
particularly tantalum. It has achieved its objective with the Rose
tantalum-lithium project, which is currently at the advanced
exploration stage. Rose is one of several promising projects in this
sector, most notably the rare earths projects in the Rocky Mountains of
British Columbia and the rare earths and tantalum-niobium projects in
Quebec. The Company looks for projects that could increase its tantalum
resources and enable it to become the largest tantalum producer in
North America.


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, technical uncertainties
associated with operating an underground mine and competitive
pressures. These factors and others are more fully discussed in Company
filings with Canadian securities regulatory authorities.


"Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release."




For further information:

Blue Note shareholders, please contact: Jean Mayer Executive Vice President (800) 937-3095 x 236 jmayer@bluenotemining.ca >www.cecorp.ca

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