Bolero Resources Corp.

Bolero Resources Corp.

September 14, 2010 03:01 ET

Significant Coincident IP and Geochem Anomalies Identified on Bolero's Red Chris "South" Prospect

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 14, 2010) - Bolero Resources Corp. (the "Company" or "Bolero"), (TSX VENTURE:BRU), (FRANKFURT:U7N1) announces that significant anomalies have been identified on the Red Chris "South" prospect, which is contiguous to Imperial Metals Corporation's "Red Chris" copper-gold property where they announced a drill hole intercept of 528.7 metres, grading: 1.97g/ton Gold and 1.13% Copper. The anomalies have been identified using a 55 km induced polarization "IP" survey and 560 MMI soil samples.

Red Chris South Map Link:

Terracad Geoscience Services Ltd. has reviewed the IP and MMI data and in a preliminary report stated the following:

"The geophysical survey included 55 line kilometres of deep penetrating induced polarization, a method that has been successfully applied at the Red Chris project. Bolero's survey was designed to identify deep sulphide-bearing targets that could represent Red Chris-type mineralization."

Additionally, Mr. John Buckle, P. Geoph., P. Geo., stated:

"The survey detected a relatively strong chargeability anomaly near the eastern portion of the property that appears to lie at a depth starting at about 300 metres and is open to depth. Its apparent width is in the order of 350 metres and the target was detected on two lines spaced 200 metres apart." (John Buckle, P. Geoph., P. Geo.)

The MMI soil survey results for Gold and Copper confirm and coincide with the extensions of the east-west elongated IP anomaly. The reconnaissance MMI grid overlaid the anomaly and includes the highest values for copper and gold of the total Phase 1 geochemical survey of 2010 (Phase II of exploration is in progress.) The geophysical/geochemical anomaly is interpreted to have the characteristics of a mineralized intrusive and warrants further exploration.

Interpretation of the geophysical survey data has revealed two distinct faults on the Red Chris South property; one of which appears to be the extension of a southside-down normal bounding fault that lies between the Bowser Lake Group sedimentary rocks and the "Red" Stock that host the Red Chris-Imperial Metals Deposit. This fault extends through the same sedimentary rocks on Red Chris South property. A second, semi-parallel fault passes through the identified IP anomaly.

At least two other IP chargeability and geochemical anomalies have been identified on the boundaries of the IP survey and are recommended for further exploration.

Bolero recently acquired five additional contiguous mineral tenures that are believed to be underlain by intrusive rocks similar in texture and orientation to the rocks that host the nearby Red Chris deposit. Compilation of historic exploration and geological mapping data revealed an environment that is considered favorable for location of mineralization that will be included in future exploration programs.

Bolero Resources' President and CEO, R. Bruce Duncan stated, "Management is moving forward towards establishing high-priority drill targets on the Red Chris South prospect. We are extremely encouraged by the presence of multiple significant anomalies on our property. In anticipation of further positive data, the Company has applied for drill permits that will allow drilling to commence when final data are received and interpreted. We believe that the Red Chris South project will be a key component in the growth of Bolero. The Company intends to actively continue data acquisition to determine if Red Chris-type mineral zones are present at Red Chris South.

Erik Ostensoe, P. Geo., is the Company's Independent "Qualified Person" (as such term is defined by NI 43-101) for the Red Chris South project, and has reviewed and accepts responsibility for technical information contained in this news 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 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 56,000 acres, contiguous to Spectrum Mining Corporation in Northern BC; 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, and 2 separate quartz claim blocks 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."

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