Attention Business/Financial Editors:

Blue Note Appeals New Brunswick Court of Queen's Bench Decision on NPI

    Shares Outstanding: 363 Million
    Symbol & Exchange: BN-TSX

    MONTREAL, Nov. 5 /CNW Telbec/ - Blue Note Mining Inc. and its subsidiary,
Blue Note Caribou Mines Inc., report that they have appealed the decision of
the New Brunswick Court of Queen's Bench which granted partial Summary
Judgement in favour of Merlin Group Securities Limited, in its capacity as
Trustee of the Fern Trust, regarding its claim to a 10% Net Profits Interest
(NPI) in and to the Caribou Mine, owned by the Company. In a decision released
September 30, 2008, the Court held that the NPI is binding upon the mine and
the company.
    Blue Note initially brought the issue of the applicability of the NPI
before the Court in January 2007 to bring certainty to the claim to the NPI by
the Fern Trust. After initially opposing having the matter summarily decided
by the Court, the Fern Trust brought a motion for Summary Judgement in June,
2008. The Motion was heard on August 28, 2008 and the Court rendered its
decision on September 30, 2008.
    Blue Note had sought to bring the matter expeditiously before the Court
in order to bring certainty to the Fern Trust's claim. Prior to the company
acquiring the mine, the Fern Trust had not provided the company with an
executed copy of the NPI instrument nor had it demonstrated that it was the
current counter-party to the NPI. The company questioned whether, in the
circumstances, the company had sufficient actual notice of the NPI in order
that the NPI was binding on the Company and the Mine. To protect Blue Note
from the uncertainty, the company sought direction from the court.
    Blue Note has appealed on the grounds that in finding that the NPI binds
the mine, the court misinterpreted the NPI document in granting the Fern Trust
partial Summary Judgement, the Court misapplied the law relating to Summary
Judgement; and that the Court erred in concluding that the company had actual
notice of the NPI and its legal effect prior to acquiring the mine.

    Blue Note Mining is a Canadian mining company headquartered in Montreal
with operations in Bathurst, New Brunswick. The company's shares trade on the
TSX 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 Blue Note's products and
competitive pressures. These factors and others are more fully discussed in
Blue Note' filings with Canadian securities regulatory authorities.

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

For further information: Glenn Massad, Director of communications, Blue
Note Mining Inc., (800) 937-3095, gmassad@bluenotemining.ca;
www.bluenotemining.ca