NIB Niblack Mineral Development

Niblack Mineral Development Inc. (TSX VENTURE:NIB) ("Niblack" or the "Company")
announces the successful completion by court-approved plan of arrangement (the
"Arrangement"), of the acquisition of Niblack by Heatherdale Resources Ltd.
("Heatherdale"). Heatherdale has acquired all the outstanding common shares of
Niblack in exchange for the issuance of 19,221,578 Heatherdale common shares,
and now holds a 100% interest in the Niblack copper-gold-zinc-silver project
located in southeast Alaska, USA.


Under the Arrangement, former shareholders of Niblack received 0.50 common
shares of Heatherdale for each common share of Niblack. Each unexercised warrant
that was outstanding at closing has been amended to give the warrantholder the
right to purchase the number of Heatherdale shares equal to 50% of the number of
Niblack shares subject to such warrant, at an exercise price of C$1.20 in the
case of warrants that have a current exercise price of C$0.45 and C$1.73 in the
case of warrants that have a current exercise price of C$0.65. All unexercised
options at closing have been cancelled for C$0.01 per option. Niblack will be
delisted from the TSX-V on or about January 19, 2012.


On behalf of the Board of Directors

John Williamson, President & CEO of Niblack

This news release may contain forward-looking information including but not
limited to comments regarding the timing and content of upcoming transactions.
Forward-looking information includes disclosure regarding possible future
events, or conditions or results of operations that is based on assumptions
about future economic conditions and courses of action, and therefore, involves
inherent risks and uncertainties. Although management has a reasonable basis for
the conclusions drawn, actual results may differ materially from those currently
anticipated in such statements. For more information on the Company, investors
should review the Company's continuous disclosure filings that are available at
www.sedar.com.

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