Bluerock Resources Ltd.
TSX VENTURE : BRD

Bluerock Resources Ltd.

September 26, 2007 09:30 ET

Bluerock Resources Reports Update on Drilling and Development Programs at the Tramp Uranium Mine, and Have Identified 31 Significantly Mineralized Uranium Intersections

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 26, 2007) - Bluerock Resources Ltd. (TSX VENTURE:BRD) (the "Company") announces it has completed 70 drill holes at the Tramp Uranium Mine Project thus far, of which 31 have been identified as significantly mineralized and gamma logged by Century Geophysics Corp. The Company remains focused on the resumption of production in the second quarter of 2008 at the Tramp Uranium Mine.

The on-going drilling program at Bluerock's Tramp Uranium Mine Project, Montrose County, Uravan Uranium District, Colorado has continued to establish high-grade uranium intersections and has located a target location for initial production upon the resumption of mining operations at the Tramp Uranium Mine. In addition, permitting work is being conducted on the Tramp Uranium Mine with respect to the location of infrastructure and waste piles with the local B.L.M. county office toward the re-opening and re-establishment of uranium production.

Highlights from the current round of drilling at Bluerock's Tramp Mine include

- TM-07-52 with 3.5 feet (1.07m) grading 0.126% eU3O8, including 2.5 feet (0.76m) grading 0.157% eU3O8;

- TM-07-54 with 1.5 feet (0.46m) grading 0.244% eU3O8, including 1 foot (0.30m) grading 0.349% eU3O8;

- TM-07-58 with 1.5 feet (0.48m) grading 0.33% eU3O8;

- TM-07-70 with 2 feet (0.61m) grading 0.293% eU3O8 including 1.5 feet (0.46m) grading 0.378% eU3O8.

These results continue to emphasize that the Tramp Uranium mine hosts significant grades and widths of uranium mineralization which the Company intends to exploit upon the resumption of mining activities.

Bluerock has completed a total of 70 drill holes at the Tramp Uranium Mine Project to date. 31 of which have been identified as significantly mineralized and gamma logged by Century Geophysics Corp. Subsequent to Bluerock's June 14th, 2007 Tramp Uranium Mine news release 50 drill holes have been completed, 17 of these drill holes intersected significant uranium mineralization and are highlighted in the table below.

The Tramp Uranium Mine drilling program continues to confirm the expected grades and widths of mineralization in the two known mineralized zones. A third zone has also been identified from this drill program, which is an easily accessible, high-grade zone, within 11 metres (36 feet) of existing underground Tramp Uranium Mine workings.

Bluerock President Michael Collins commented: "The latest results from Bluerock's Tramp Uranium Mine Project demonstrate the ability of this historic mine to produce high grade uranium intersections over minable widths. The Company is working hard to prepare this permitted mine for a production target of the second quarter of 2008. Together with the J-Bird Uranium Mine and the Cone Mountain Uranium Project, the Tramp Uranium Mine is a key part in Bluerock's strategy to become a significant uranium producer under a toll milling strategy in 2008. Bluerock will continue it's aggressive strategy of acquisition, exploration and development of uranium deposits in the southwest United States in support of this goal."

Down hole Gamma Probe Drill hole logging results (Calculated %eU3O8) are summarized below:



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Hole ID Depth Interval Grade
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(feet) (metres) (feet) (metres) % eU3 O8
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TM-07-37 103.5 31.55 1 0.30 0.103
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TM-07-40 150.5 45.87 0.5 0.15 0.34
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TM-07-42 157.5 48.00 0.5 0.15 0.025
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159.5 48.61 0.5 0.15 0.05
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TM-07-43 155.5 47.39 0.5 0.15 0.074
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TM-07-48 132 40.23 1 0.30 0.091
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133.5 40.69 1 0.30 0.064
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134 40.84 3 0.91 0.064
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TM-07-50 156.5 47.70 4 1.22 0.039
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162.5 49.53 1.5 0.46 0.058
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including 1 0.30 0.63
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TM-07-52 138.5 42.21 0.5 0.15 0.058
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139 42.37 1 0.30 0.048
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150 45.72 3.5 1.07 0.126
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including 2.5 0.76 0.157
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TM-07-54 138 42.06 1.5 0.46 0.244
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including 1 0.30 0.349
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141 42.97 0.5 0.15 0.145
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141.5 43.13 1.5 0.46 0.084
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including 1 0.30 0.11
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TM-07-55 136.5 41.60 1 0.30 0.176
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140 42.67 1 0.30 0.4
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143.5 43.74 3 0.91 0.034
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TM-07-58 144 43.89 1.5 0.46 0.33
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150 45.72 0.5 0.15 0.027
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TM-07-59 138 42.06 1 0.30 0.408
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TM-07-60 153.5 46.78 0.5 0.15 0.028
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TM-07-70 60 18.29 2 0.61 0.293
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including 1.5 0.46 0.378
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TM-07-76 81.5 24.84 0.5 0.15 0.086
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82 24.99 1 0.30 0.063
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TM-07-78 259 78.94 1 0.30 0.063
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including 0.5 0.15 0.1
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TM-07-79 225 68.58 1 0.30 0.087
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229.5 69.95 1 0.30 0.437
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262.5 80.01 1 0.30 0.043
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TM-07-81 262.5 80.01 1.5 0.46 0.06
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including 1 0.30 0.071
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296.5 90.37 0.5 0.15 0.026
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Third Party, down-hole gamma logging has been contracted to, and is being conducted by, Century Geophysical Corp. of Tulsa Oklahoma. All reported Uranium Values within this release were produced by Century Geophysical's logging of the Company's drilled holes.

Drilling at the Tramp Mine Project is being conducted by the Company's contractor's, Western Colorado Resources, who utilize a Rotary Air Blast (RAB) drilling rig. Once a hole is completed, initial drillhole tests are completed by Company geologists or trained staff with an in-house, downhole scintillometer. Where significant mineralization is identified, the hole is left open and subsequently logged by Century Geophysics Corp. who determines the calculated uranium content with gamma logging instruments. Century Geophysical Corp. has a long history of providing third party downhole probe services to the Uranium Exploration and Development industry and is well know and respected in the industry. The Downhole gamma logging reported in this release utilized a "10 inch long, GAMMA-SP-RES" unit with calibration both prior to, and after the physical logging of the bore hole.

Professional land survey contractors have completed detailed underground surveys at the Tramp Uranium Mine culminating in the determination of the location and extent of the underground workings at the mine. Additionally, historic(i) and contemporaneous surface drillhole surveys have been completed by the contractors, both surveys are now part of the Company's digital database and Tramp Uranium Mine plan.

The Company has begun the process of acquisition by purchase of mining equipment and personnel towards the resumption of production on the Tramp Uranium Mine project.

Back ground information

The Tramp Uranium Mine(i) produced Uranium and Vanadium ore intermittently between 1947 and 1984, with reported grades of 0.28% to 0.32% U3O8 and 1.5% to 1.7% V2O5. Production in the 1970's and early 1980's was conducted with trackless mining methods on the lower rim (which is the main target of the current exploration campaign). Existing portal access affords the Company flexibility in developing the mine and reduces time and cost constraints that would apply to a shaft and tunnel operation.

With Mine, Exploration and Storm water permits in place, the Company is moving to define a N.I. 43-101 compliant resource, produce a scoping study and prepare the mine for production. This work is supported by a team of local geologists, and respected third party downhole gamma logging work by Century Geophysical Corp.

Paul D. Gray, P.Geo. is the Qualified Person with respect to the Tramp Mine Project 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

(i) The historical work was conducted by previous mine operators, the reliability of this data is unknown but considered reasonable and 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 filing with the B.C. Securities Commission. We seek safe harbour.

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

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