Bluerock Resources Ltd.
TSX VENTURE : BRD

Bluerock Resources Ltd.

January 22, 2008 08:00 ET

Bluerock Announces Final Results From the 2007 Uranium Mongolian Exploration JV

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 22, 2008) - Bluerock Resources Ltd. (TSX VENTURE:BRD) (the Company) announces the final release of results from the 2007 exploration programs on the Mongolian uranium exploration projects. Final drilling and trenching results have been received and interpreted from work on the 10168X and 10169X licenses. These projects have been managed and operated by the Company under an option agreement with Uranerz (see News Release of September 12, 2006) where the Company has the right to earn up to a 70% interest in the 8 exploration projects. With exploration expenditures in the summer of 2007 exceeding US$ 1.5 million, Bluerock believes it has materially completed the earn-in obligations and is moving to form the joint venture with Uranerz in 2008.

The 2007 exploration programs have successfully identified:

- 2 new "Roll Front" reduction-oxidation systems with associated uranium enrichment (on the 10168X and 08560X (Khavtsal) licenses).

- Trenching and drilling has demonstrated that the historic Ger Ovoo uranium showing extends 5 km onto the 10168X (Khar Tolgoi) license and uranium mineralization there has been interpreted to extend to depths of at least 100 metres.

- Historic uranium mineralization on the 08560X license has been confirmed in trenches and drilling as well as expanded through infill trenching and drilling on southern and northern extensions.

- The Discovery of never before identified coal seams in excess of 10 metres composite thickness identified over a 1 by 3 kilometre area in the 08560X license.

President Michael Collins commented: "The 2007 exploration program has been extremely successful, resulting in the discovery two new uranium targets, the expansion of two historic targets and discovered a new coal target. These discoveries that have been identified from very small portions of the 264,000 hectares of exploration ground that the Mongolian JV holds is indicative of the quality of these projects. With the pending formation of the JV with Uranerz, Bluerock will continue to work to develop value in these projects."

2007 Uranium Exploration Program Review:

1. A roll front uranium mineralized system has been identified through Reverse Circulation (RC) drilling on the 10168X license. A total of five fences of drilling, (3000 metres of RC drilling and 319 metres of Diamond Drilling (DD)) have been completed in the northwest quadrant of the license. Two distinct uranium bearing mineralized intersections below water table levels have been discovered from two fences of drilling. These intersections show strong reduction-oxidation systems and gamma probe eU% values of trace to greater than 0.02%. The two fences are separated by a distance of 1.6 kilometres which is too far to infer a direct relationship between the two discovery holes, but given the similarity in profile and depths of 70 to 95 metres, infill drilling will be a priority going forward.

2. Also on license 10168X, work on the SW extension of the Historic Ger Ovoo Uranium showing consisted of 550 metres of trenching and 9 core recovery drill holes (totalling 1,196 metres of drilling). Exploration successfully demonstrated Uranium mineralization over 2.5 kilometres of strike and to depths of 180 metres. The trenching and drilling focused on surface radiometric anomalies identified in the Company's 2006 exploration program on the licence. The 2007 work successfully demonstrated that this basin margin hosted uranium mineralization is far more pervasive that previously recognised and represents a strong "In situ Recovery" target. Grades ranged from trace to 0.033% eU over 1 metre in trenches, with one intersection of 0.026% eU over 23 meters, and in drilling, up to 0.036% eU over 1.1 metres.

3. Uranium exploration work on the 08560X (Khavtsal) license was successful in; infilling and expand historical soviet resources (see release Oct 11, 2007), and identifying a newly discovered mineralized roll front system (reduction-oxidation) at depths of less than 100 metres to the south of known near surface mineralization.

4. Also resulting from uranium exploration on the 08560X license substantial thicknesses of coal have been identified over an area of over 1 by 3 kilometres and coal mineralization is open to extension to the north and south of current drilling. 10 of 30 drill holes intersected greater than 10 metres total thicknesses of coal. Drill hole KH07-19 returned a 26 metre thick coal horizon within a 46 metre inter-bedded section of coal, sand and clay. The coal measures are generally within 50 metres of surface and lie only 30 kilometres from rail and power, representing a strong candidate for a fast track to production.

Assaying and Analysis

Gamma log probe work was carried out by G&DS Co. Ltd., (a third party contractor), who has a long record of third party geophysical surveying for TSX listed companies. The downhole logging system, manufactured by Mount Sopris Instrument Company, included a motorized winch based MXA-1000 unit, MGX II and Matrix data interface consoles and two downhole probes, a 2PGA-1000 (Natural Gamma, SP, Single Point Resistance) and 2PEA-1000 (Normal Resistivity). The 2PGA-1000 probe was calibrated at the company's Grand Junction, Colorado calibration facilities on February 2007. Drill cutting check samples were collected and assayed by XRF to verify results and disequilibrium issues.

Drill and trenching samples from the 2007 exploration programs were prepared and analyzed by Activation Laboratories, (Actlabs) of Ancaster Ontario, at their lab in Ulaanbaatar, Mongolia. Rock preparation consisted of crushing and pulverising to 85% passing 75 micron mesh. Uranium results were analysed by XRF. Drilling samples were collected as chips from each one metre run. Chips were gamma probed with a hand held scintillometer by Company staff and samples collected on all intervals with greater than 120 CPS. Trenching samples at License 10168X were collected from channels on trench floors through the stratigraphic (steeply lying) target horizons. All samples of interest, plus 10% of the remainder are shipped to Canada by Actlabs, for ICP-MS verification at their Ancaster facility.

XRF methodology utilized a Niton XLp 552 Analyzer which was calibrated from laboratory standard and blank samples before the analyses of the Bluerock Samples. Samples were dried and crushed to 90% passing 2 millimetres, homogenized and split to a 0.5 - 1.5 kilogram sample which was subsequently pulverized to passing 150 mesh and then placed in a sample cup for XRF analysis. Samples with deemed greater than 0.1% UO were further analyzed by titrimetry.

Paul D. Gray, P.Geo. is the Qualified Person with respect to the Mongolian JV properties and has reviewed and approved this press release.

Bluerock Resources Ltd. is a uranium exploration company focused on discovering tomorrow's energy today through the acquisition and development of conventional uranium resources.

ON BEHALF OF THE BOARD OF DIRECTORS

Michael Collins, CEO, President and Director

- Historical work was conducted by previous operators. The reliability of historic data is unknown but considered relevant, however confirmation work may produce results that differ substantially from the historic results.

Statements contained in this document that are not historical facts are forward looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward -looking statements are subject to risks and uncertainties which could cause actual results to differ materially from estimated results. Such risks and uncertainties are detailed in the Company's filings with the B.C. Securities Commission.

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

Contact Information