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Black Diamond Group Limited Provides Operational Update

CALGARY, ALBERTA--(Marketwired - Sept. 29, 2014) - Black Diamond Group Limited ("Black Diamond" or the "Company") (TSX:BDI) is providing the following operational update following recent commentary from industry participants.

Despite moderate weakness in some sub-sectors of the oilsands accommodations market, Black Diamond's outlook remains consistent with previously disclosed information in the Company's Q2 2014 financial results release. The Company's forward-contracted revenue reached $174 million at the end of Q2 2014. Notwithstanding the lack of final investment decisions on large projects such as major liquefied natural gas (LNG) projects, the Company's geographical and product line diversification is expected to result in ongoing, modest EBITDA growth in 2015.

Black Diamond's oilsands accommodations assets are diversified across a number of customers and differing projects, with no single project accounting for more than 1,300 beds, and the Company's customers remain active in the areas it serves. Black Diamond's overall smaller project size compared to those often seen in large scale oilsands mining projects allows a managed approach to redeploying assets should projects reach completion. While management does not expect significant new project activity in the oilsands over the next several quarters, current contracted assets on-site will continue to deliver revenue and returns similar to historical levels.

Within its large camps segment, Black Diamond's previously announced 1,244 bed project in the Montney region of British Columbia remains on-track, with the first phase anticipated to be complete by January 1, 2015 and the second phase complete by April 2015. Overall pricing in Black Diamond's large camps segment remains stable due to the terms of the assets under contract. The Company's North American BOXX Modular platform also continues to see healthy levels of demand and pricing stability, driven by ongoing construction and infrastructure development in core markets.

Black Diamond's 2014 capex program has been weighted towards the second half, causing incremental cash flow to have a greater effect in 2015. Black Diamond continues to see relative stability across its platform and anticipates second half 2014 EBITDA levels similar to those seen in 2013. In spite of market-wide concerns around project decisions and delays, and risks around commodity prices, management believes that the Company is well-positioned to effectively capitalize on and manage through periods of softer market demand, evidenced by the Company's strong balance sheet, stable, diversified, recurring cash flow and performance through previous cycles.

About Black Diamond

Founded in 2003, Black Diamond Group Limited is one of the fastest growing remote lodging, modular building and energy services companies worldwide. With its corporate head office located in Calgary, Alberta, Black Diamond provides world-class services to a wide spectrum of industries including oil and gas, mining, power, construction, engineering, military, government and education.

Through its direct and indirect wholly-owned subsidiaries and its approximate 50% equity participation in certain aboriginal limited partnerships, Black Diamond operates four complementary business units in nineteen strategic locations across Canada, the United States and Australia.

Black Diamond Structures rents and sells remote workforce housing and modular workspace solutions and provides associated services; Black Diamond Logistics provides turnkey lodging services, remote facility management and supply chain solutions; Black Diamond Energy Services rents and sells a complement of oilfield equipment and services and Black Diamond International rents and sells remote workforce housing and modular workspace solutions and provides associated services outside of North America.

Reader Advisory

Forward-Looking Statements

Certain information in this news release contains forward-looking statements including, without limitation, management's expectations regarding the future financial performance of the Company and statements relating to forward-contracted revenue, future EBITDA in 2015, future returns of current contracted assets on-site and the anticipated timing of the completion of the first and second phase of the 1,244 bed project. With respect to the forward-looking statements contained in this news release, Black Diamond has made assumptions, regarding among other things: that Black Diamond will continue to conduct its operations in a manner consistent with past operations, that counterparties to contracts will perform the contracts as written and that there will be no unforeseen material delays in contracted projects. Although Black Diamond believes that the expectations reflected in the forward-looking statements contained in this news release, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations or assumptions will prove to be correct. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond Black Diamond's control including, without limitation, the impact of general economic conditions, industry conditions, fluctuation of commodity prices, fluctuation of exchange rates, environmental risks, industry competition, availability of qualified personnel and management, stock market volatility, timely and cost effective access to sufficient capital from internal and external sources. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements. Readers are cautioned that the forgoing list of factors is not exhaustive. Additional information on these and other factors that could affect Black Diamond's operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com) and at Black Diamond's website (www.blackdiamondgroup.com). Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and Black Diamond does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

Non-IFRS Measure

In this news release, the term EBITDA (earnings before interest, taxation, depreciation and amortization) has been referenced. Readers are cautioned that this measure is not defined under International Financial Reporting Standards (IFRS). Readers are cautioned that this non-IFRS measure is not an alternative to a measure under IFRS and should not, on its own, be construed as an indicator of the Company's performance or cash flows, a measure of liquidity or as a measure of actual return on the shares of the Company. This non-IFRS measure should be used in conjunction with the consolidated financial statements of the Company.

The Toronto Stock Exchange has neither approved nor disapproved the information contained herein.

FOR FURTHER INFORMATION PLEASE CONTACT:

Black Diamond Group Limited - Media Contact:
Tara Sukut
Communications Manager
(403) 718-5061
tsukut@blackdiamondgroup.com

Black Diamond Group Limited - Investor Relations Contact:
Jason Zhang
Senior Financial Analyst
(403) 718-0948
jzhang@blackdiamondgroup.com
www.blackdiamondgroup.com