Bell Resources Corporation
TSX VENTURE : BL

Bell Resources Corporation

October 16, 2007 14:13 ET

Bell Begins Phase One Drilling Program at Gryphon Project

Drilling Program will Consist of Three Holes and Approximately 3,000 Metres

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 16, 2007) - Bell Resources Corporation ("Bell") (TSX VENTURE:BL) announced today it has commenced its Phase One drilling program on the Gryphon Summit project located in the Sulphur Springs Range of Eureka County in Northeast Nevada.

In Phase One, Bell plans to complete approximately 3,000 meters of drilling over three holes. These holes will test specific targets that are believed to relate to Carlin-type gold and porphyry Cu-Mo systems. The Gryphon Summit Project was obtained through an option agreement between Bell and Golden Gryphon Exploration.

Certain geological aspects of the project indicate parallels with other giant porphyry Cu-Au-Mo systems, including Bingham Canyon in Utah, Resolution Cu in Arizona, and Grasberg in Irian Jaya. Over US$2.4 million has been spent at Gryphon Summit developing high quality geophysical and geochemical datasets, including airborne magnetics, gravity, IP, and AMT data. This data supports the interpretation that the Gryphon Summit property is highly prospective for both porphyry-related copper deposits and Carlin-type gold deposits.

Dr. Jeffrey Abbott is the Qualified Person overseeing drilling and sampling on the project.

On September 4, 2007, Bell announced it had entered into a proposed business combination with Rogue River and Grandcru Resources Corporation ("Grandcru") (TSX VENTURE:GR), whereby the three companies will amalgamate to form one company and collectively benefit from the exploration potential of Bell and Grandcru's copper exploration assets and the near term production potential of Rogue River's La Balsa project.

About Bell Resources Corporation

Bell Resources is focused on the exploration and development of a diversified portfolio of copper base metal projects, with the most advanced being the past-producing Granduc Mine. The Company's strategic plan is focused on moving assets toward potential production, while continuing to target new acquisitions based on geological potential and economic viability. For further information on Bell Resources visit www.bellresources.com.

On Behalf of the Board of Directors of Bell Resources Corporation

W. Glen Zinn, CEO, President & Director

For further information please contact the Company Tel: 604 669-1484 or email: info@bellresources.com.

Forward-looking statements in this release are made pursuant to the 'safe harbor' provisions of the Private Securities Litigation Reform act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties.

The TSX Venture Exchange has not reviewed and does not accept Responsibility for the adequacy or accuracy of this release.

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