Bolero Resources Corp.

Bolero Resources Corp.

April 06, 2010 09:01 ET

Bolero Resource Corp.: Bolero Raises $250,000 in Flow-Through

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 6, 2010) - Bolero Resource Corp. - (TSX VENTURE:BRU) ("Bolero" or the "Company") is raising gross proceeds of $250,250 by way of a non-brokered private placement to an arm's length subscriber. The financing will consist of 715,000 flow-through common shares at a price of $0.35 with a full warrant at $0.50 for two years. The sole subscriber to the placement is AlphaNorth 2010 Flow-Through LP.

No commissions or finder's fees will be payable with respect to the monies raised. The closing of the private placement will be subject to certain conditions, including approval of the TSX Ventures Exchange, and the securities will be subject to a trading restriction of four months from the date of issuance.

Bolero Resources President and CEO, R. Bruce Duncan, stated "Institutional demand for a financing at these levels shows the substantial value in our stock at this time. This additional institutional funding will be used to advance our newly acquired Gold and Rare Earth prospects. Management is continually evaluating additional projects that could add value to the Company."

About AlphaNorth Asset Management

AlphaNorth Asset Management ("AlphaNorth") is a Toronto based investment manager. AlphaNorth believes that superior long term equity returns are achievable by exploiting inefficiencies in the Canadian small cap universe through careful security selection on both a long and short basis. The firm combines technical analysis with both a bottom-up and top-down strategy in the selection of investments offering the best reward versus risk opportunities. AlphaNorth manages the AlphaNorth Partners Fund which is a long biased small cap focused hedge fund and the AlphaNorth 2010 Flow-Through LP. The Fund's objective is to achieve industry leading long term returns.

About Boleros

Bolero Resources Corp. is a Canada-based Molybdenum, Gold, and Rare Earth Element mineral development and exploration company. Our primary assets include: 100% interest in the Cannivan Gulch Molybdenum property located in Montana, USA; A 100% interest in twelve strategic claims in the Red Chris area of north-western BC, contiguous to Imperial Metals Corp (III.V); and 100% interest in 43 mineral claims prospective for Rare Earth's covering approximately 16,072 hectares, contiguous to Spectrum Mining Corporation in Northern BC. The Company is listed on the TSX-Venture Exchange under the symbol BRU, as well as the Frankfurt Exchange under U7N1. For more information, please visit

On behalf of the Board of Directors

R. Bruce Duncan, President & CEO

This news release includes certain "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Without limitation, statements regarding potential mineralization and resources and reserves, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

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