Bolero Resources Corp.
TSX VENTURE : BRU
FRANKFURT : U7N1

Bolero Resources Corp.

August 15, 2012 09:00 ET

Bolero Announces New Senior Management Team

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 15, 2012) - Bolero Resources Corp. (the "Company" or "Bolero"), (TSX VENTURE:BRU), (FRANKFURT:U7N1) is pleased to announce the appointment of new team members that will serve a pivotal role in Bolero's expansion plans.

"As Bolero continues to expand, we are excited to welcome new team members," said Paul Ogilvie, CEO of Bolero Resources. "We are thrilled; our recent growth has allowed us to build an integrated team of highly qualified mining engineers, research, sales and project managers."

New team members include:

  • John Carter, Vice President, Engineering, who specializes in design and manufacturing of mineral processing equipment for mining operations such as Timcal Inc. Mr. Carter has over 30 years experience in the mining industry and brings significant value because of his extensive knowledge of mill development and mines in the natural graphite sector.
  • Paul Hynek, Advisor of Research and Development, has 35 years experience in various roles in research and development at Inco Limited, one of the world's premier mining and metals companies. Mr. Hynek has many years involvement in the development of extractive metallurgical processes.
  • Skip Hamilton, Project Manager, has over 30 years experience related to all aspects of the resource/mineral development including project due diligence, pilot plant testing and government agency liaison.
  • Bob Rice, Senior Process Engineer, has 40 years experience in the technology of metals including developing metallurgical solutions in mineral processing and extractive metallurgy. Mr. Rice founded the mining division at Eaglebrook of Canada, for the removal and treatment of heavy metal from the waters of 25 different mines in Canada and South America, to Ministry of Environment discharge standards.
  • Mark Burack, VP Business Development, has had over 20 years experience managing client and business development for a number of Technology companies including IBM, EMC Corp., SHL System House, GE Capital, Puredata Corp., etc., in the US and Canada.
  • Ashis Basu, Director, Product Development and Sales Operations, has over 30 years of product development, marketing and sales experience in private, public, and government sectors. Mr. Basu has extensive knowledge and relationships within the lithium-Ion battery industry. Most recently Mr. Basu has been involved with one of North America's leading cell and battery system manufacturers.
  • Laurie McCarney, Director, Corporate Communications, has 20 years of sales, marketing, public relations, and senior leadership experience in a variety of businesses. Ms. McCarney's mandate will be to manage all internal and external communications to customers, shareholders and stakeholders.
  • Dick van Wyck, In-house Counsel, has over 20 years of experience practicing business and commercial law, as in-house counsel with the federal Canadian Department of Justice as well as Laidlaw Inc. and Waste Management Inc. / Canadian Waste Services Inc. with expertise in corporate and commercial law, mergers and acquisitions, contracting, environmental and business law.

See website for full biography's, www.boleroresources.com

In connection with the appointment of such team members, the Company has conditionally granted 5 year options to acquire an aggregate of 1,750,000 common shares under the Company's stock option plan at $0.20 per share. Such option grants are subject to the approval by the shareholders of the Corporation at the upcoming AGM of Bolero to be held on September 17, 2012 to the increase of the number of shares under the Company's fixed cap stock option plan. In addition, the Company has conditionally agreed to issue a total of 3,500,000 common shares to certain of such team members, subject to receipt of disinterested shareholder approval at the upcoming AGM.

About Bolero Resources Corp. (TSX VENTURE:BRU)

Bolero Resources is a junior natural resource company focused on the acquisition and development of graphite properties throughout Canada. Bolero holds a 100% interest in 38 mineral claims located in Maria Township, 17 kilometres south of the community of Bissett Creek on the Trans Canada Highway between the cities of Ottawa and North Bay, Ontario. These claims cover an area of approximately 2,000 hectares (4,940 acres) that surround and are contiguous to Northern Graphite's Bissett Creek graphite deposit. Northern Graphite recently reported the extraction of very large high purity flake graphite consistent across the entire resource with overall recovery rates of 97%. (NGC.V News Release 23/04/2012)

Throughout 2012, Bolero has been focusing on its primary goals of building and strengthening our core operations in mineral exploration and development by acquiring and developing quality-mining projects to ultimately increase shareholder value.

On behalf of the Board of Directors

R. Bruce Duncan, Executive Chairman

FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.

All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).

"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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