Blacksteel Energy Inc. announced that Arthur Madden, CPA, CMA, ICD,D has been appointed as the new Chief Financial Officer of Blacksteel Energy Inc. Mr. Madden brings over 40 years of experience as a Director, Advisor and Chief Financial Officer with international capital markets experience for both private and public entities in Canada, Argentina, Russia, USA and the Middle East. Mr. Madden has proven abilities in strategic planning, capital markets, environmental and social governance, capital procurement, value creation, and corporate governance for public and private companies, including start-ups and initial public offerings. He is a previous director of Painted Pony Energy from inception to its status as a rapidly growing producer in Canada's Montney hydrocarbon play.

Mr. Madden plans to leverage this valuable experience in growing complex organizations from start up, to initial public offerings and final strategic divestiture. His involvement includes growing companies for $1MM in value to in excess of $400 MM. Mr. Madden replaces Jeff Callaway as Chief Financial Officer, who has departed from the Corporation.