Bolero Resources Corp.

Bolero Resources Corp.

August 11, 2011 12:25 ET

Bolero Resources Corp.: White Gold, Yukon Work Program Now Underway

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 11, 2011) - Bolero Resources Corp. (the "Company" or "Bolero") (TSX VENTURE:BRU) (FRANKFURT:U7N1) announces that work is now underway on the 100% owned "White Gold" prospect located in the White Gold District/Stewart River area of the Yukon in close proximity to recently announced discoveries by Kaminak Gold Corporation and Kinross Gold's "Golden Saddle" discovery which was acquired from Underworld Resources Inc. in June, 2010.

Field crews have been mobilized and sampling, mapping and prospecting programs have commenced to further define the significant multi-element soil anomaly discovered during the 2010 sampling program. The southeastern end of this anomaly contains the largest sustained gold values on the property. These continue for several kilometres to the northwest, with scattered samples yielding gold values among the highest encountered during the program. Elevated values of (As), (Sb) and (Mo) accompany the gold at the eastern end of the anomaly.

Bolero's "White Gold," prospect consists of 12 quartz claims, covering over 6,500 acres, in two separate claim blocks. These claims are underlain by the same quartz-muscovite and chlorite-muscovite schist of the Nasina Assemblage that hosts the deposits on Kinross Gold's property, presenting an attractive exploration target.

Bolero Resources' President and CEO, R. Bruce Duncan, stated "This comprehensive work program will help to further define the significant multi-element soil anomaly, discovered on our "Nicolas" claim block during our 2010 Yukon work program. Bolero anticipates a very active 2011work season with drilling now underway on the "Red Chris South" prospect, contiguous to Imperial Metals' (III-TSX) "Red Chris" copper-gold discovery. Additional drilling is planned to commence shortly on the "Carbonatite Syndicate" Rare Earth Element prospect, and the "Charge" "REE" prospect, following the completion of airborne surveys, now being flown. Drilling is fully funded, drill permits are in place and the first of these drill programs is now underway."

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 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 British Columbia, contiguous to Imperial Metals Corporation (III-TSX) and; the "Carbonatite Syndicate" consisting of 211 mineral claims prospective for REE covering over 222,415 acres contiguous to Spectrum Mining Corporation in northern British Columbia and; the "Charge" British Columbia REE prospect 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 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."

Contact Information