Bolero Resources Corp.
TSX VENTURE : BRU
FRANKFURT : U7N1

Bolero Resources Corp.

May 12, 2011 09:00 ET

Bolero Retains Aeroquest for Multiple 2011 Airborne Surveys

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 12, 2011) - Bolero Resources Corp. (the "Company" or "Bolero"), (TSX VENTURE:BRU)(FRANKFURT:U7N1) announces that it has retained Aeroquest Ltd. to fly multiple state-of-the-art AeroTEM and Radiometric geophysical airborne surveys over both the "Carbonatite Syndicate" Rare Earth Element prospect and the new "Charge" Rare Earth Element prospect, both located in northern British Columbia. These airborne surveys will be integral in further defining high priority drill targets in preparation for an upcoming 2011 drill program.

Carbo REE Map: http://www.boleroresources.com/docs/carbonatite_syndicate_claims_201101.pdf

These large scale geophysical and radiometric airborne surveys will consist of over 7000 line kilometres to be flown at 200 and 100 metre line spacing. The AeroTEM system is ideal for its superior ability to contour in northern BC's rugged terrain. The airborne surveys will focus on further defining high priority Rare Earth Element drill targets contiguous to Spectrum Mining's "Wicheeda" Rare Earth discovery and identifying drill targets on Bolero's "Charge" REE prospect that contains the highest Lanthanum (La) (1146 ppm), Yttrium (Y) (647 ppm), and second highest Cerium (Ce) (1247 ppm) REE soil samples in the province of British Columbia's Regional Geochemical Survey (BCRGS) database.

Bolero Resources' President and CEO, R. Bruce Duncan, stated "The 2011 work and drill season will be the most active year of exploration for Bolero to date. We anticipate work to commence shortly on all four of our active Gold and Rare Earth Element projects in BC and the Yukon. This year's exploration programs are fully funded and Bolero has substantially strengthened its board of directors, advisory board, and has engaged Discovery Consultants to oversee multiple work programs on the "Red Chris South" copper/gold prospect contiguous to Imperial Metals Corporation's (III – TSX), the "Carbonatite Syndicate" REE prospect, and the "Charge" REE prospect. Upcoming drill programs will be designed to test high priority targets, achieved through large scale sampling, IP surveying and multiple airborne surveys."

4,007 line kilometers will be flown on the "Carbonatite Syndicate" REE prospect using 200m and 100m line spacing. 2010 soil sampling programs on the "Carbonatite Syndicate" property substantially increased Rare Earth Element soil sample values. Assays from recent soil grids (Oct 4th 2010) increased maximum concentrations of Cerium (Ce) and Lanthanum (La) to as high as 1205 ppm and 663 ppm respectively, far exceeding previous results of 631 ppm and 377 ppm. Thirty of 228 soil samples returned total "REE+Y" contents above 1000 ppm and show elevated levels of "pathfinder elements" such as Niobium (Nb) and Barium (Ba).

3,084 line kilometres will be flown on Bolero's "Charge" REE prospect, located 50 kilometres southeast of the Kemess Mine in northern BC. The "Charge" prospect currently contains the highest Lanthanum (La) (1146 ppm), Yttrium (Y) (647 ppm), and second highest Cerium (Ce) (1247 ppm) samples in the province of British Columbia's Regional Geochemical Survey (BCRGS) database, with over 7000 samples recently taken from the region.

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 BC, contiguous to Imperial Metals Corp (III.T) and; The "Carbonatite Syndicate" consisting of 211 mineral claims prospective for Rare Earth Elements covering over 90,000 hectares (222,415 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; and the "Charge" BC REE prospect. 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: www.boleroresources.com 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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