Bell Resources Corporation
TSX VENTURE : BL

Bell Resources Corporation

August 15, 2007 13:20 ET

Bell Continues to Expand Presence in Arizona With New Copper Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 15, 2007) - Bell Resources Corporation (TSX VENTURE:BL) today announced it has continued to expand its presence in one of the world's largest copper producing regions, with the introduction of its third new copper project in Arizona through its Bronco Alliance.

The Silver Bell West project is located approximately 30 miles northwest of Tucson, Arizona in the Silver Bell mining district. The current land position consists of 213 unpatented federal lode claims covering approximately 4,200 acres adjacent to the operating Silver Bell Mine, a 75/25 partnership between Asarco and Mitsui.

Permitting at Silver Bell West is currently underway for a Phase I drill program consisting of three to five holes. Drilling at the project is expected to commence during the fourth quarter of 2007.

The Alliance Agreement between Bell and Bronco includes the following terms:

- Bell has first right of refusal to all projects currently in the BCE portfolio as well as any new projects added during the life of the Alliance Agreement with Bell and Bronco

- Bell will earn 75% of each designated project after US $1 million in exploration expenditures has been spent by Bell on a project

- Bell is committed to spending a minimum of $2 million per annum on Bronco Alliance projects

Silver Bell West Project

Introduction & Location

The Silver Bell West project area is located approximately 30 miles northwest of Tucson, Arizona in the Silver Bell mining district. The current land position consists of 213 unpatented federal lode claims covering approximately 4,200 acres adjacent to the operating Silver Bell Mine, a 75/25 partnership between Asarco and Mistui.

In 2006, an opportunity was recognized to discover additional zones of copper skarn and related porphyry copper ores in structurally down-dropped blocks adjacent to Silver Bell Mining's current mining operations on the west side of the district. Ninety-eight unpatented lode claims were staked initially, and successive geologic work in the district led to 4 additional land acquisitions. The Alliance now controls the rights to all locatable minerals in the southwestern portion of the district.

The current land position comprises three separate areas of known and suspected porphyry and skarn mineralization in an under-explored portion of the district.

History

The Silver Bell district has been in continuous production since the discovery of silver and copper ores in 1865, with modern, large scale copper production from skarn, secondary enrichment blankets and porphyry ores beginning in the 1950's. Total copper production in the district was greater than 84 Mt at a grade of 0.76% Cu, with historic reserves (non 43-101 compliant) of 185 Mt at 0.61% Cu. (Long, 1995).

The land package at Silver Bell West has had areas of previous exploration but is categorized as under-explored. Both Asarco and BS & K conducted exploration programs in the 1970's that were focused mainly in the southern and southwestern portions of the district. In the mid- to late 1990's, a joint venture between JABA and Cyprus drilled 8 rotary holes totalling 6,141 feet on geophysical anomalies in the southern portion of the area.

Geology/Exploration Target

The Silver Bell Mountains consist of a moderately tilted (approximately 40 degrees NE), relatively intact block composed of Laramide granitoids, including porphyry stocks and dikes intruding Paleozoic, Triassic, and Jurassic sedimentary rocks and overlying, coeval Laramide volcanic rocks. Tilting exposes the structurally deepest levels composed of the main mass of Laramide intrusive rocks and related copper ores along the western and southern margins of the range. Carbonate rocks in the Paleozoic section exposed along the intrusive contact host the principal skarn ores in the district. Along the western side of the district, carbonate and other rocks have been down-dropped by faults and are now covered by gravel deposits. The Alliance models suggest that these rocks may contain skarn and/or porphyry style mineralization and are present in the target area beneath the gravel cover. These faults also truncate an east-west structural trend that apparently focused Laramide-aged magmatism and related mineralization. This mineral trend is partially demonstrated from the alignment of the El Tiro and Oxide open pits in the west, through a series of exploration targets tested in the 1990's lying within a linear zone of intense quartz-sericite-pyrite alteration on the southeast side of the district.

Interpretation

The Alliance is targeting three separate areas for drill testing of porphyry copper and related copper skarn mineralization based upon new mapping and geologic reconstruction of the sedimentary section. Target area 1 lies in the southeastern portion of the property and consists of outcrops of mineralized intrusive rocks that are juxtaposed against Mesozoic sediments. Mineral occurrences consist of swarms of quartz-chalcopyrite veins and related supergene mineralization in the Laramide igneous rocks and chalcopyrite-Au bearing chlorite-specularite veins within the contact zone with the sedimentary rocks. Target areas 2 and 3 lie under cover and are based upon:

1) Modeling of the Paleozoic sedimentary section under cover

2) Interpretation of geophysical data

3) Distribution of zones of potassium-silicate alteration in igneous rocks

4) Distribution of altered carbonate rocks including oxidized skarn

Project Development

Early stage geologic mapping and geochemical sampling focused on areas of bedrock exposures in the southeastern portion of the Alliance land position, where numerous zones of copper-bearing quartz and chlorite veins are exposed along the margins of Laramide intrusions. Mapping of these features southward into cover rocks suggests an untested porphyry/skarn target may lie in Paleozoic carbonate rocks at relatively shallow depths below Mesozoic sedimentary rocks.

- Permitting is currently underway for a 3 to 5 hole Phase I drill program

- Drilling is slated for late 2007

Qualified Person

For the purposes of this news release, the Qualified Person is David Johnson, PhD.

About Bell Resources Corporation

Bell Resources is focused on the exploration and development of a diversified portfolio of North American base metal projects, with the most advanced being the past-producing Granduc Mine. The Company's strategic plan is focused on moving assets toward potential production, while continuing to target new acquisitions based on geological potential and economic viability. For further information on Bell Resources visit www.bellresources.com.

On behalf of the Board of Directors of Bell Resources Corporation

W. Glen Zinn, President and CEO

Forward-looking statements in this release are made pursuant to the 'safe harbor' provisions of the Private Securities Litigation Reform act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties.

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

Contact Information