BE Resources Inc.

BE Resources Inc.

February 24, 2011 07:00 ET

BE Resources Has Commenced Work on 12 Hole Drill Program at Its Warm Springs Beryllium Project

TORONTO, ONTARIO--(Marketwire - Feb. 24, 2011) - BE Resources Inc. (TSX VENTURE:BER) ("BE" or the "Company") announced that it has been granted a modification to the exploration permit at its Warm Springs Beryllium Project, located in Socorro County, New Mexico. The Company now has permission to drill an additional 12 holes within the boundaries of its initial permit area. The Company is working with Mining and Minerals Division, New Mexico as they review permitting for 8 additional holes.

The specific target of the program will be the area surrounding the first hole drilled (Hole DH#5) in BE's recently completed five-hole program. The holes will range in depth from 200 to 650 feet and will be spaced on a 75 foot grid around the first drill hole and also extending to the north of the first drill hole.

AMEC has been contracted to carry out the drilling. Work on the drill program has commenced.

Assays results from that first drill hole indicated that drilling had intersected a beryllium-mineralized zone in excess of 100 feet in thickness and discovered maximum grades exceeding one percent beryllium oxide.

"We are pleased to have received the permit modification," said David Tognoni, President and CEO of BE Resources. "The focused drill program around Hole DH#5 is designed to define a beryllium resource at Warm Springs, specifically in areas where we have already discovered significant mineralization."

About BE Resources Inc. and Beryllium

BE Resources Inc. is a junior mineral exploration company focused on advancing the exploration and development of its Warm Springs Beryllium Project in New Mexico. BE Resources' target mineral is beryllium, a metal that has been identified as having significant lightness, strength and temperature resistance qualities and is a valuable component used in the aerospace and defence industries.

Alloys are the most common form of beryllium product, accounting for an estimated 75 percent of US consumption. In the US, ceramics (15 percent) incorporating beryllium oxide, also known as beryllia, is the next most important form of beryllium followed by metal (10 percent). Electronic and electrical components, aerospace and defence applications account for around 80 percent of US consumption according to industry analyst Roskill Mineral Services.

Beryllium prices are usually determined on a negotiated basis between producers and end-users with small quantities of highly pure metal (greater than 99 percent pure) traded on the Shanghai Metals Market. Recent prices posted for beryllium were between 5,500 - 6,000 RMB/Kg, the equivalent of about US$135 to US$147 per pound of beryllium oxide, or US$374 to US$408 per pound of beryllium.

Cautionary Statements

Certain statements contained in this news release may contain forward-looking information within the meaning of United States and Canadian securities laws. Such forward-looking information is identified by words such as "estimates", "intends", "plans", "expects", "believes", "may", and "will". There is no assurance that the request for permit modification for an additional 8 holes will be granted on the terms requested or at all and no assurance that we will ever be able to define a beryllium resource or develop a producing mine. We are at an early stage of exploration. Reference is made to the risk factors contained in the Company's annual report on Form 10-K for the year ended December 31, 2009. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.

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 release.

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