Bolero Resources Corp.

Bolero Resources Corp.

July 13, 2010 03:01 ET

Additional Claims Acquired at Bolero's Red Chris Prospect

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 13, 2010) - Bolero Resources Corp. (the "Company" or "Bolero"), (TSX VENTURE:BRU), (FRANKFURT:U7N1) announces it has entered into an option agreement with a arms-length vendor to acquire additional strategic claims, contiguous to Bolero's 100% owned Red Chris prospect in northwest, BC. Bolero's prospect at Red Chris is comprised of 12 strategically located claims of more than 10,000 acres, contiguous to Imperial Metals Corporation's (III-TSX) "Red Chris" copper-gold property where recently they announced a drill hole intercept of 528.7 metres of 1.97g/ton gold and 1.13% copper. Recent drilling at Red Chris by Imperial Metals have averaged 2.00% copper and 3.80 g/t gold over 432.5 metres and the discovery continues to be open in all directions.

Bolero's property border is less than 3 kilometres southwest of Imperial Metals' initial Red Chris East Zone discovery and appears to be "on-trend" with recent drilling. An extensive work program is now underway on Bolero's "Red Chris" prospect that will include testing previous significant mineral occurrences, recorded on the newly acquired claims, by Falconbridge as late as 2007.

Terracad Geoscience Services Ltd. has been retained to initiate the work program on Bolero's Red Chris prospect. This program is focused on the Eskay Creek- style mineralization, intrusives and alterations discovered in 1998 by Homestake Canada Inc. Work includes prospecting, geological reconnaissance, grid preparation, geochemical soil sampling and/or MMI (mobile metal ion) soil sampling, magnetometer survey, possibly a VLF-EM survey, and rock chip sampling of any mineral zones. An IP survey and diamond drill program is now being planned following the completion of the initial work.

Terms of the option are for Bolero to issue forty thousand shares and pay $3,000 upon TSX Venture approval. This transaction is subject to TSX Venture Exchange approval.

Bolero Resources' President and CEO, R. Bruce Duncan, stated, "This new strategic acquisition completes Bolero's land package in a highly prospective area of our Red Chris prospect. At this time, Bolero is actively working on multiple projects including our "Red Chris" Gold/Copper prospect and our "Carbonatite Syndicate" Rare Earth prospect, both located in Northern BC. We will now be moving quickly forward, with the planned work bordering Imperial Metals claims and are greatly encouraged by the close proximity and open formation of recent drill results by Imperial Metals. We have also been informed that multiple scintillometer anomalies have been identified on the north east portion of our 100% owned "Carbonatite Syndicate" Rare Earth prospect. A large number of samples have recently been submitted to ALS Chemex Labs for multi-element geochemical analysis and are expected to be available shortly." 

Dr. Roger Steininger, Ph.D., CPG (AIPG), a Company Director, is the "Qualified Person" (as such term is defined by NI 43-101) responsible for the preparation of the technical information in this release.

About Bolero Resources Corp.
Bolero Resources Corp. is a Canada-based Molybdenum, Rare Earth, and Gold exploration and development 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.T); 100% interest in 57 mineral claims prospective for Rare Earth's covering approximately 56,000 acres, contiguous to Spectrum Mining Corporation in Northern BC, and 11 mining claims of which approximately 2,653 hectares are directly tied on to the northwest, and 1,930 hectares are tied directly east of Barkerville Gold Mines (BGM.V) in Barkerville, 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

"Neither 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 release."

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