Bluerock Resources Ltd.
TSX VENTURE : BRD

Bluerock Resources Ltd.

March 19, 2008 08:00 ET

Bluerock Resources Drilling Intersects New Mineralized Channel at the PSC Project, Garfield County, Utah

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 19, 2008) - Bluerock Resources Ltd. (TSX VENTURE:BRD) (the Company) announces it has completed its Phase II drilling program at the PSC Project, in the Orange Cliffs Mining District, south central Utah, U.S.A. The 2008 PSC Drill Program consisted of 118 holes totalling 13,743 feet (4,188 metres) of Reverse Circulation and Diamond Drilling. The program targeted shallow Chinle Formation channel structures identified in field mapping. 52% of the drillholes were considered anomalous enough to warrant third party gamma probe logging and over 19% of these drill holes returned intersections of better than 0.025% eU3O8. These results indicate that the PSC Uranium Project hosts significant grades of uranium mineralization and demonstrate good continuity between drill holes intersections, all of which were located at depths of less than 100 feet (30.5 metres). A preliminary resource will be calculated by the Company when chemical assays are returned from the assay laboratory.

Highlights from the current round of drilling at Bluerock's PSC Uranium Project include:

- KK-08-54 with 3.5 feet (1.1 metres) grading 0.201% eU3O8, including 2.5 feet (0.76m) grading 0.263% eU3O8;

- KK-08-44 with 4 feet (1.2 metres) grading 0.189% eU3O8, including 1.5 feet (0.5 metres) grading 0.389% eU3O8

The PSC Project encompasses two past producing mines, the Silver Bell Uranium Mine and the Andrew Lloyd Uranium Mine. The project is located less than 95 miles (153 kilometres) from Green River, Utah and 50 miles (80 kilometres) to the north east of Uranium One's Shootaring Canyon uranium mill. The Phase II drilling was developed from the results of the "Phase I" drilling campaign and subsequent field mapping of the exposed Chinle Formation and was focused on area which had never previously been mined. The newly identified mineralized zone was discovered and delineated on the "Karmen K Claims" and subsequently traced to the north side of Poison Springs Canyon with the last remaining permitted drill holes in the drilling program.

President, Michael Collins commented: "The 2008 drilling program at the PSC Uranium Project successfully identified significant grades and widths of uranium mineralization in an area that has not been previously mined. The Company is extremely pleased with these results and looks forward to follow-up drilling on the project to expand on these mineralized zones.

While the Company's near term focus is to develop uranium production in the Uravan district in support of its toll milling agreement with Denison Mines (USA), the development of uranium resources in Utah is critical in the medium term as Bluerock moves to develop its own milling complex in Utah."

The Company intends to design and permit a "Phase III" drilling program to expand on these results in the Fall 2008.

Summary Table of selected gamma probed drillhole results from the 2008 PSC drilling program:



----------------------------------------------------------
Depth Interval
--------------- ------------- Grade
Hole ID (feet) (metres) (feet) (metres) % eU3O8
----------------------------------------------------------
KK-08-14 78.0 23.8 1.5 0.5 0.099
----------------------------------------------------------
including 0.5 0.2 0.185
----------------------------------------------------------
KK-08-30 68.5 20.9 0.5 0.2 0.071
----------------------------------------------------------
KK-08-32 78.5 23.9 1.0 0.3 0.054
----------------------------------------------------------
KK-08-18 73.8 22.5 1.0 0.3 0.069
----------------------------------------------------------
KK-08-41 80.1 24.4 1.0 0.3 0.043
----------------------------------------------------------
81.5 24.8 1.5 0.5 0.144
----------------------------------------------------------
including 1.0 0.3 0.195
----------------------------------------------------------
KK-08-43 80.5 24.5 0.5 0.2 0.090
----------------------------------------------------------
KK-08-44 79.8 24.3 4.0 1.2 0.189
----------------------------------------------------------
including 1.5 0.5 0.389
----------------------------------------------------------
KK-08-46 82.6 25.2 2.0 0.6 0.106
----------------------------------------------------------
including 1.0 0.3 0.149
----------------------------------------------------------
KK-08-47 80.5 24.5 2.0 0.6 0.064
----------------------------------------------------------
including 0.5 0.2 0.114
----------------------------------------------------------
KK-08-50 82.6 25.2 1.5 0.5 0.065
----------------------------------------------------------
KK-08-51 81.0 24.7 2.0 0.6 0.037
----------------------------------------------------------
including 0.5 0.2 0.065
----------------------------------------------------------
83.4 25.4 1.0 0.3 0.079
----------------------------------------------------------
including 0.5 0.2 0.108
----------------------------------------------------------
KK-08-52 81.8 24.9 1.0 0.3 0.067
----------------------------------------------------------
including 0.5 0.2 0.107
----------------------------------------------------------
KK-08-54 81.3 24.8 3.5 1.1 0.201
----------------------------------------------------------
including 2.5 0.8 0.263
----------------------------------------------------------
KK-08-56 81.7 24.9 1.5 0.5 0.137
----------------------------------------------------------
including 1.0 0.3 0.162
----------------------------------------------------------
KK-08-57 81.4 24.8 1.0 0.3 0.082
----------------------------------------------------------
including 0.5 0.2 0.117
----------------------------------------------------------
83.1 25.3 1.5 0.5 0.052
----------------------------------------------------------
KK-08-60 79.5 24.2 1.0 0.3 0.155
----------------------------------------------------------
including 0.5 0.2 0.242
----------------------------------------------------------
KK-08-61 82.0 25.0 1.0 0.3 0.152
----------------------------------------------------------
KK-08-62 82.5 25.2 1.0 0.3 0.065
----------------------------------------------------------
KK-08-64 82.4 25.1 3.0 0.9 0.069
----------------------------------------------------------
including 0.5 0.2 0.159
----------------------------------------------------------
KK-08-67 82.5 25.2 1.0 0.3 0.055
----------------------------------------------------------
KK-08-69 83.3 25.4 1.0 0.3 0.066
----------------------------------------------------------
RCP-08-24 85.0 25.9 1.0 0.3 0.064
----------------------------------------------------------
RCP-08-25 82.5 25.2 1.0 0.3 0.055
----------------------------------------------------------
RCP-08-26 84.5 25.8 0.5 0.2 0.115
----------------------------------------------------------


Third Party, down-hole gamma logging was contracted to, and was conducted by, Century Geophysical Corp. of Tulsa Oklahoma. All reported Uranium Values within this release were produced by Century Geophysical's logging of the Company's drilled holes.

Drilling at the PSC Uranium Project was conducted utilizing two drill rigs, one operated by Diversified Drilling of Missoula, Montana and the other by Kissner Drilling of Grand Junction, Colorado. Once a hole was completed, Company staff utilized an in-house, downhole scintillometer to test the hole by probing. Where significant uranium mineralization was identified, the hole was left open and subsequently logged by Century Geophysics Corp. who determined the calculated uranium content with gamma logging instruments. 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 long, GAMMA-SP-RES" unit with calibration both prior to, and after the physical logging of the bore hole.

Four RC drill holes were chosen for twinning with a core recovery unit to allow the collection of core samples for assay which will be used to define a clear analysis of the equilibrium relationship between estimated uranium content and assayed uranium content. RC chips samples were also collected to verify the tenor of mineralized intersections and to calculated vanadium content. Energy Labs Inc. of Casper, Wyoming, a well respected and utilized uranium assay lab has been contracted to conduct the chemical assays. The results of these chemical assays are not yet completed, however once available they will be merged with Bluerock's existing PSC database for verification analysis. Standard Company drill program QA/QC procedures were implemented for the 2008 PSC drilling program and overseen directly by Paul D. Gray, P.Geo., the Company's Qualified Person.

Bluerock Resources' exploration program on the PSC project is operated under an option agreement with Rincon Exploration & Development LLC (RED) to purchase 100% the PSC Project.

Paul D. Gray, P.Geo. is the Qualified Person with respect to the PSC 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.

ON BEHALF OF THE BOARD OF DIRECTORS

Michael Collins, CEO, President and Director

FORWARD LOOKING INFORMATION DISCLAIMER

Certain of the statements made and information contained herein is "forward-looking information" within the meaning of the Ontario Securities Act and the Alberta Securities Act, including statements concerning our plans at our mineral projects, which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information is subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, failure to establish mineral resources; delays in obtaining or failure to obtain required governmental, environmental or other project approvals; changes in national and local government legislation or regulations regarding environmental factors, royalties, taxation or foreign investment; political or economic instability; terrorism; inflation; changes in currency exchange rates; fluctuations in commodity prices; delays in the development of projects; shortage of personnel with the requisite knowledge and skills to design and execute exploration programs; difficulties in arranging contracts for drilling and other exploration and development services; dependency on equity market financings to fund programs and maintain and develop mineral properties; risks associated with title to resource properties, particularly in Mongolia, and difficulties of determining the validity of certain tenures and other risks and uncertainties, including those described in each management discussion and analysis. In addition, forward-looking information is based on various assumptions including, without limitation, the expectations and beliefs of management; the assumed long-term price of U3O8; the availability of permits and surface rights; access to financing, equipment and labour and that the political environment within Canada, the United States of America and Mongolia will continue to support the development of environmentally safe uranium mining projects. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.

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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