Bolero Resources Corp.

Bolero Resources Corp.

May 18, 2010 03:01 ET

Bolero Resources Corp.: Extensive Rare Earth Work Program Now Underway

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 18, 2010) - Bolero Resources Corp. (the "Company" or "Bolero"), (TSX VENTURE:BRU), (FRANKFURT:U7N1) wishes to announce that work has now commenced on the "Carbonatite Syndicate Rare Earth Claim Group," 80 km northeast of Prince George, BC. Mackevoy Geosciences Ltd. have established a base camp just East of Spectrum Mining's "Wicheeda" Rare Earth discovery, that recently returned grades of 3.55% rare earth elements ("REE") over 48.64 metres. The immediate work will consist of MAG and Scintillometer surveys accompanied by silt sampling, cursory prospecting, and outcrop drilling.

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Bolero Resources' President and CEO, R. Bruce Duncan, stated "We are very pleased to have work now underway on the first of our multiple planned work programs this summer. The Mackevoy team will be extensively exploring the areas surrounding Spectum's Rare Earth discovery, as well as testing Bolero's existing high priority targets. Mackevoy Geosciences Ltd. has extensive experience in Rare Earth exploration and a proven track record of discoveries in the area.

Bolero now has the largest contiguous land package (22,654 hectares) surrounding |Spectum's "Wicheeda" Rare Earth discovery and is one of the first companies with an active work program in the area. Management anticipates multiple active work programs to commence shortly, including Bolero's "Red Chris" Gold/Copper prospect contiguous to Imperial Metals (III-TSX) in North West, BC."

About Spectrum Mining Corporation

Spectrum Mining Corporation is a private company that recently reported significant Rare Earth Element ("REE") mineralization on its Wicheeda carbonatite-syenite breccia intrusive complex rare earth discovery, located 80 km northeast of Prince George, BC. (5th Annual Minerals South Conference)

Highlights from Spectrum's recent drilling include a 48.64 metre interval which averaged 3.55% rare earth elements, a 72.0 metre interval that averaged 2.92% REE, and a 144 metre interval which averaged 2.20% REE in three separate drill holes. In 2009, eleven NTW diamond drill holes totaling 1835 metres were drilled in the "Main Zone" from two new drilling platforms on Wicheeda. All 11 drill holes intersected significant rare earth mineralization and the Wicheeda deposit remains open in all directions.

World recognized carbonatite-rare earth specialist Dr. Anthony Mariano has examined drill core samples as well as rock samples. He concluded that the Wicheeda mineralization is mainly monazite and a bastnaesite-synchisite mineral. A heavy liquid and magnetic separation study on a composite sample of Wicheeda drill core was able to produce a high grade REE concentrate that contained 56.09wt. % REE.

The test indicated that the Wicheeda rare earth mineralization could produce a marketable concentrate. It was noted that applying a flotation circuit should produce a 60% LREE concentrate from the Wicheeda samples.

Dr. Roger Steininger, Ph.D., CPG (AIPG), a Company Director, is the "Qualified Person" (as such term is defined by NI 43-101) responsible for the preparation of the technical information in this release.

About Bolero Resources

Bolero Resources Corp. is a Canada-based Molybdenum, Gold, and Rare Earth Element mineral development and exploration company.

Our primary assets include: 100% interest in the Cannivan Gulch Molybdenum property located in Montana, USA; A 100% interest in twelve strategic claims in the Red Chris area of north-western BC, contiguous to Imperial Metals Corp (III.T); 100% interest in 57 mineral claims prospective for Rare Earth's covering approximately 22,654 hectares, contiguous to Spectrum Mining Corporation in Northern BC, and 11 mining claims of which approximately 2,653 hectares are directly tied on to the northwest, and 1,930 hectares are tied directly east of Barkerville Gold Mines (BGM.V) in Barkerville, BC. 

The Company is listed on the TSX-Venture Exchange under the symbol BRU, as well as the Frankfurt Exchange under U7N1. For more information, please visit

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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