Bluerock Resources Ltd.

Bluerock Resources Ltd.

January 14, 2008 08:00 ET

Bluerock Resources Updates Progress on the Development of the J-Bird Uranium Mine, Montrose County, Colorado, USA

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 14, 2008) - Bluerock Resources Ltd. (TSX VENTURE:BRD) (the Company) reports significant progress in the development of the Company's J-Bird Uranium Mine and drilling on the J-Bird Claims.

The J-Bird Uranium Mine portal framing and first development blast is scheduled for the week of January 14, 2008. The mine plan will initially exploit a body of uranium mineralization 150 feet (45 metres) from the portal entrance, and uranium ore will be mined and stockpiled before the end of February, 2008. The Company's staff and contractors have completed pad clearing for uranium ore and waste piles and installed office trailers and other surface support equipment at the mine site.

A 17 hole, 4,030 foot (1,228 metre) reverse circulation drill program was completed and gamma probed by Century Geophysics, on the J-Bird Uranium Mine site in November and December 2007. The drill program, confirmatory in nature, successfully defined and expanded known uranium mineralization. As is typical for uranium mines in the Colorado Plateau, drilling is designed to delineate wider mineralized zones ahead of mine development activity, which will then focus on exploiting higher grade uranium-vanadium ore bodies. To illustrate, drill hole JB-07-12 intersected 0.24% eU3O8 over 2.5 feet (0.3 metres) within a broader mineralized zone of 0.11% eU3O8 over 7 feet (2.13 metres). Five additional drill holes contained mineralization between 0.02% and 0.1% eU3O8.

Depth feet Thickness feet
Drill Hole (metres) (metres) % eU3O8
JB-07-02 93.5 (28.5) 2.5 (0.76) 0.04
96.0 (29.3) 1.5 (0.46) 0.04
JB-07-04 106.5 (32.5) 2.5 (0.76) 0.03
JB-07-05 111.5 (34.0) 0.5 (0.15) 0.04
JB-07-12 130 (39.6) 0.5 (0.15) 0.06
135.5 (41.3) 7.0 (2.1) 0.11
including 2.5 (0.76) 0.24
JB-07-13 151.5 (46.2) 1.0 (0.31) 0.06
JB-07-16 186.0 (56.7) 1.5 (0.46) 0.03

The permitting process has been started for a spring drill program that envisages a total of 150 drill holes on the J-Bird property. The focus of this program will be to expand the current number of mineable zones and delineate in greater detail the known zones of uranium mineralization. Drill holes will be up to 300 feet (91.4 metres) deep with an approximated drilling rate of 400 feet/day (122 metres/day), or 1.5 to 2 drill holes per day. The timing of permit submission and approval is dictated by winter weather conditions at the J-Bird Uranium Mine as current snow cover precludes completion of the required archaeological survey.

The J-Bird Uranium Mine project consists of 25 mineral claims encompassing the permitted J-Bird Uranium Mine, mine site and prospective mine trend. The Project is located west of the historic Uravan Uranium/Vanadium Mineral Belt, Montrose County, Colorado which is the main target of the Company's aggressive uranium project acquisition and production strategy. The J-Bird Uranium Mine Project is permitted for mining operations with both the state and BLM offices, and this fact is allowing the Company to initiate underground development of the J-Bird Uranium Mine toward uranium production in a rapid time frame.

Bluerock President, Michael Collins, commented: "The development, test mining and production at the J-Bird Uranium Mine is one of the catalyst events in Bluerock's drive to be the next uranium producer in the United States, and represents a key step in the Company's near term production strategy. The Company continues to work to return the permitted Tramp Uranium Mine to production and to permit the Sunbeam and Cone Mountain Uranium projects towards production."

Century Geophysical Corp. was contracted by the Company to conduct this downhole gamma program. Century Geophysical Corp. has a long history of providing third party downhole probe services to the uranium exploration and development industry and is well known and respected in the industry. The Downhole gamma logging reported in this release utilized a "10 inch log, GAMMA-SP-RES" unit with calibration both prior to, and after the physical logging of the bore hole.

Paul D. Gray, P.Geo. is the Qualified Person with respect to the J-Bird Uranium Mine Project and has reviewed and approved this press release.

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


Michael Collins, CEO, President and Director

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.

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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