Bluerock Resources Ltd.
TSX VENTURE : BRD

Bluerock Resources Ltd.

June 14, 2007 09:30 ET

Bluerock Resources Reports on On-Going Drilling and Development Programs at the Tramp Mine

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 14, 2007) - Bluerock Resources Ltd. (TSX VENTURE:BRD) (the "Company") announces that:

- Drilling at Bluerock's Tramp Uranium Mine Project, Montrose County, Colorado has successfully confirm "historic(i)" economic grade uranium mineralization in two of three known zones. The Tramp Uranium Mine is permitted for production;

- The Tramp Mine's underground workings have been sampled by Company geologists and these assay results have confirmed economic grade uranium mineralization in selected locations in approximately 900 feet of underground workings;

- Detailed property wide surveys and historic data compilation work is underway, focused on identifying the location of the third mineralized zone;

- Sampling and mapping programs designed to test new areas in the mine area continue.

The Company is preparing the Tramp Uranium Mine for production in the second quarter of 2008.

Agapido Associates Inc., of Grand Junction Colorado, has been retained for the purposes of completing an N.I. 43-101 resource estimate and scoping study for the Tramp Mine. Third party, down-hole gamma logging required for the N.I. 43-101 report has been contracted to Century Geophysical Corp. of Tulsa Oklahoma.

Bluerock has completed 20 drill holes at the Tramp Uranium Mine Project, of which 13 are significantly mineralized and confirmed by gamma logging by Century Geophysics Corp.

Drilling at the Tramp Mine Project has been contracted to Western Colorado Resources, utilizing a Rotary Air Blast (RAB) drilling rig. Once a hole is completed, initial drillhole tests are completed by Company geologists or trained staff with an in-house, downhole scintellometer. Where significant mineralization is identified, the hole is left open and subsequently logged by Century Geophysics Corp. who determines a calculated uranium content from their 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 know and respected in the industry.

The drilling program has confirmed historical(i) grades and widths of mineralization in two know zones.

Highlights from the current round of drilling (Table #1) at Bluerock's Tramp Mine include TM-06-14 (twin) with 2.5 feet (0.8m) grading 0.153% eU3O8, including 1 foot (0.3m) grading 0.296% eU3O8; TM-07-26 with 2 feet (0.6m) grading 0.198% eU3O8; and TM-07-30 (twin) 1.5 feet (0.48m) grading 0.134% eU3O8 including 0.5 feet (0.16m) grading 0.235% eU3O8. Drilling continues with the goal of defining the resource and moving the Tramp mine to a resumption of production in 2008.

Bluerock President, Michael Collins, commented: "The latest results of the ongoing drilling campaign at Bluerock's Tramp Mine Project demonstrate the Company's determination to return this permitted mine to active production. The calculated and assayed grades of the underground sampling and drill results are indicative of the quality and consistency of the mineralization at the Tramp Mine Project. Bluerock is committed to continue its strategy of acquiring and developing Uranium resources in the US south west. The Tramp Mine, and the recent acquisitions of additional highly prospective land positions in the Uravan Mineral District, demonstrated our commitment to this strategy and our ability to move it forward."

Gamma Probe Drill hole logging results (eU3O8%) are summarized below, (Table #1):



------------------------------------------------------
Depth Interval Grade
Hole ID (feet) (metres) (feet) (metres) % eU3O8
------------------------------------------------------
TM-06-01tw 108.0 34.4 0.5 0.16 0.030
------------------------------------------------------
TM-06-04tw 110.5 35.2 1.5 0.48 0.109
------------------------------------------------------
including 1.0 0.32 0.32
------------------------------------------------------
114.5 36.4 0.5 0.16 0.032
------------------------------------------------------
TM-06-11tw 108.0 34.4 1.0 0.32 0.043
------------------------------------------------------
110.0 35.0 1.0 0.32 0.107
------------------------------------------------------
112.5 35.8 1.0 0.32 0.054
------------------------------------------------------
TM-06-12tw 112.5 35.8 1.0 0.32 0.062
------------------------------------------------------
113.5 36.1 2.0 0.64 0.073
------------------------------------------------------
including 0.5 0.16 0.16
------------------------------------------------------
TM-06-14tw 99.5 31.7 2.5 0.80 0.153
------------------------------------------------------
including 1.0 0.32 0.32
------------------------------------------------------
106.0 33.7 1.5 0.48 0.112
------------------------------------------------------
including 1.0 0.32 0.32
------------------------------------------------------
108.0 34.4 1.0 0.32 0.042
------------------------------------------------------
TM-06-15tw 98.0 31.2 2.5 0.80 0.071
------------------------------------------------------
including 1.0 0.32 0.32
------------------------------------------------------
TM-07-20tw No Significant value
------------------------------------------------------
TM-07-21 No Significant value
------------------------------------------------------
TM-07-22 No Significant value
------------------------------------------------------
TM-07-23 No Significant value
------------------------------------------------------
TM-07-24 No Significant value
------------------------------------------------------
TM-07-25 No Significant value
------------------------------------------------------
TM-07-26 133.5 42.5 2.0 0.64 0.198
------------------------------------------------------
TM-07-27 129.0 41.1 0.5 0.16 0.037
------------------------------------------------------
TM-07-28 110.5 35.2 1.0 0.32 0.138
------------------------------------------------------
TM-07-29tw 228.5 72.7 0.5 0.16 0.034
------------------------------------------------------
269.0 85.6 0.5 0.16 0.044
------------------------------------------------------
TM-07-30tw 228.0 72.6 1.5 0.48 0.134
------------------------------------------------------
including 0.5 0.16 0.16
------------------------------------------------------
230.0 73.2 2.0 0.64 0.104
------------------------------------------------------
including 1.5 0.48 0.48
------------------------------------------------------
TM-07-31 103.0 32.8 1.0 0.32 0.110
------------------------------------------------------
including 0.5 0.16 0.16
------------------------------------------------------
105.0 33.4 1.5 0.48 0.048
------------------------------------------------------
TM-07-32 104.5 33.3 1.0 0.32 0.910
------------------------------------------------------
118.0 37.6 1.0 0.32 0.047
------------------------------------------------------
TM-07-33 No Significant value
------------------------------------------------------


Company geologists have completed a verification and check sampling program on the underground workings at the Tramp Mine Project. In total 17 channel, grab and panel samples were collected and sent for assay at Energy Labs Inc. of Casper Wyoming, a well respected and utilized uranium assay lab. Check sampling information (Table #2) has produced results ranging from trace to 28.3% U3O8, and 0.02% to 20.9% V2O5. Excluding the "high grade" 28.3% U3O8 sample, the 17 samples averaged 0.317% U3O8, and 2.72% V2O5.

Highlights of these underground samples include (Table #2):



------------------------------------------
Tramp Mine Sample Type U3O8% V2O5%
------------------------------------------
Upper Rim grab 28.300 20.900
------------------------------------------
Lower Rim channel 0.077 1.650
------------------------------------------
Lower Rim channel 0.310 2.500
------------------------------------------
Lower Rim channel 0.090 1.660
------------------------------------------
Lower Rim panel 0.440 4.060
------------------------------------------
Lower Rim panel 2.260 13.700
------------------------------------------
Lower Rim panel 0.090 2.130
------------------------------------------
Lower Rim channel TRACE 0.127
------------------------------------------
Lower Rim channel TRACE 0.127
------------------------------------------
Lower Rim channel 0.220 2.550
------------------------------------------
Lower Rim channel TRACE 0.145
------------------------------------------
Lower Rim panel 0.890 5.590
------------------------------------------
Lower Rim panel 0.200 4.590
------------------------------------------
Lower Rim channel 0.480 4.550
------------------------------------------
Lower Rim channel 0.011 0.111
------------------------------------------
Lower Rim channel TRACE 0.031
------------------------------------------
Lower Rim channel TRACE 0.022
------------------------------------------


Energy Labs Inc. utilized a chemical analysis with a strong mineral acid digest on a 1-gram subsample of the pulverized sample material. Uranium analysis (and other metals) was performed on the solution by Inductively Coupled Argon Plasma (ICP) emission spectroscopy against certified commercial standards.

Underground and land survey contractors are currently conducting detailed location surveys at the Tramp Mine to identify and locate the extent of the underground workings and location of the historic(i) surface drillholes. This work is on-going and a compilation of both underground and surface workings is expected within one month. This work facilitate scoping and infrastructure work at Tramp Project as it moves forward with a near term production goal.

Back ground information

The Tramp Mine(i) produced Uranium and Vanadium ore intermittently between 1947 and 1984, with reported grades of 0.28% to 0.32% U3O8 and 1.5% to 1.7% V2O5. Production in the 1970's and early 1980's was conducted with trackless mining methods on the lower rim (which is the main target of the current exploration campaign). The existing portal access affords the Company flexibility in developing the mine and reduces time and cost constraints that would apply to a shaft and tunnel operation.

With Mine, Exploration and Storm water permits in place, the Company is moving to define a N.I. 43-101 compliant resource, produce a scoping study and prepare the mine for production. This work is supported by a team of local geologists, and respected third party downhole gamma logging work by Century Geophysical Corp. through working with Agapido Associated Inc. to move forward in producing a scoping study and N.I. 43-101 compliant resource at the Tramp Mine.

Paul D. Gray, P.Geo. is the Qualified Person with respect to the Tramp Mine Project who has reviewed and approved this press release.

Bluerock Resources Ltd. is a uranium exploration company focused on discovering 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

(i) The historical work was conducted by previous mine operators. The reliability of this data is unknown but considered reasonable however confirmation work may produce results that differ substantially from the historic results.

Statements contained in this document that are not historical facts are forward-looking statements as that term is defined in the private securities litigation reform act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from estimated results. Such risks and uncertainties are detailed in the Company's filing with the B.C. Securities Commission. We seek safe harbour.

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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