SOURCE: Bolero Resources Corp.

November 18, 2010 09:23 ET

Bolero Acquires Second Major Land Package Prospective For Rare Earth Elements

VANCOUVER, BC--(Marketwire - November 18, 2010) -

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Bolero Resources Corp. (the "Company" or "Bolero"), (TSX-V: BRU), (USA: BRUZF.PK), (FRANKFURT: U7N1) is pleased to announce the acquisition of 67 mineral claims covering over 76,801 acres of land prospective for Rare Earth Elements in the "Carbo" area of northeastern British Columbia. Bolero's land package is contiguous to Canadian International Minerals Inc. (CIN - TSX.V) and recent Rare Earth Element discoveries by Spectrum Mining (A private company) who announced significant drill results of 48.64 meters of 3.55% combined rare earth elements ("REE"), 144 meters of 2.2% REE and 72 meters of 2.92% REE. This new acquisition increases Bolero's 100% owned "Carbonatite Syndicate" Rare Earth Element prospect to 206 mineral claims covering approximately 217,088 acres, and lying within 400 metres of known, mapped carbonatite structures containing highly anomalous Rare Earth Elements.

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Bolero Resources' President and CEO, R. Bruce Duncan, stated "Bolero has now staked a second major land package in close proximity to recent Rare Earth Element discoveries in the "Carbo" area of northeastern BC. These new claims are contiguous to Zimtu Capital Corp. (ZC - TSX.V) and cover the northwestern extent of the area prospective for Rare Earth Elements, positioning Bolero on-trend with both the northwest and southeast sides of the discovery area. Bolero now has the largest contiguous land package, virtually surrounding the discovery area, and has recently secured multiple strategic claims previously owned privately by Spectrum Mining Corp. Bolero anticipates a large number of assays to be available shortly and with drill permits now in place, the commencement of a multi hole drill program designed to test existing and newly identified anomalies on up to 3 separate drill sites."

584 soil, silt, and rock samples from multiple areas of interest were sent out for assay to ALS Chemex Laboratories. Twenty two of these samples were taken from Bolero's recent acquisition of ground previously owned by Spectrum Mining Corp. These assays are expected to be available shortly and will provide significant insight that will be used to establish drill targets for Bolero's upcoming drill program. To date, Bolero has identified several geochemical anomalies defined by silt and soil assays (Cerium (Ce) and Lanthanum (La) to as high as 1205 ppm and 663 ppm, respectively). Anomalous airborne radiometric responses are confirmed in areas with high REEs in soil samples and a second airborne anomaly of equal magnitude has now been silt sampled with assays pending.

Mr. David Turner, M.Sc., P.Geo., an independent Qualified Person (as such term is defined by NI 43-101) is responsible for the review of technical information in this release.

About Bolero Resources Corp.

Bolero Resources Corp. is a Canadian Gold and Rare Earth exploration and development company. Our primary assets include: 100% interest in the Red Chris South prospect, covering over 13,000 acres in north-western BC, contiguous to Imperial Metals Corp (III.T) and; 100% interest in 206 mineral claims prospective for Rare Earth's covering 87,852 hectares (217,088 acres) contiguous to Spectrum Mining Corporation in Northern BC and; 2 separate quartz claim blocks covering over 6,500 acres, in the "White Gold District" of the Yukon. The Company is listed on the TSX-Venture Exchange under the symbol BRU, the Pink Sheets under the symbol BRUZF, as well as the Frankfurt Exchange under U7N1. For more information, please visit or contact Investor Relations Toll Free.

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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Source: Bolero Resources Corp. via Thomson Reuters ONE

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