Bolero Resources Corp.

Bolero Resources Corp.

November 15, 2010 03:01 ET

Significant Multi-Element Soil Anomaly Identified on Bolero's "White Gold District" Yukon Prospect

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 15, 2010) - Bolero Resources Corp. (the "Company" or "Bolero"), (TSX VENTURE:BRU), (PINK SHEETS:BRUZF.PK), (FRANKFURT:U7N1) is pleased to announce the discovery of a significant multi-element soil anomaly on the recently acquired "White Gold," Yukon prospect, as result of sampling conducted by Equity Exploration Consultants Ltd. Bolero's 100% owned "White Gold," prospect consists of 12 quartz claims, covering over 6,500 acres, in two separate claim blocks in the White Gold District/Stewart River Area of the Yukon. These claims are in close proximity to recently announced discoveries by Kaminak Gold Corporation (KAM – TSX.V) at their "Coffee" property and by Underworld Resources Inc. that has recently agreed to a friendly takeover by Kinross Gold Corp. Bolero's claims are underlain by the same quartz-muscovite and chlorite-muscovite schist of the Nasina Assemblage that hosts the deposits on the White Gold property, presenting an attractive exploration target.

Area Map:

Soil samples were taken at 100m spacing along contour and ridge lines and were analyzed for gold by fire assay, and a multi-element suite by Inductively Coupled Plasma Atomic Emission Spectrometry. The soil anomaly was identified using two long contour lines, the results of which confirmed a significant multi-element anomaly in the area. The southeastern end of the anomaly contains the largest sustained gold anomaly on the property, with values above 10 ppb for over 1 km of contour line with maximum gold values of 42 and 45 ppb. The anomaly continues for several kilometres to the northwest, with scattered samples yielding gold values among the highest encountered during the program. Particularly at the eastern end, these are accompanied by elevated As, Sb and Mo values.

Bolero Resources' President and CEO, R. Bruce Duncan, stated "We are pleased to have been informed by Equity Exploration Consultants Ltd. that a significant multi-element soil anomaly has been discovered on our "Nicolas" claim block in the White Gold district of the Yukon. Multiple recent gold discoveries by Kaminak Gold Corp. (KAM), ATAC Resources Ltd. (ATC), and Underworld Resources (Now Kinross) are in close proximity to Bolero's "Nicolas" claim block and these deposits remain open in all directions. The White Gold District of the Yukon is currently one of the most active and exciting mining regions in Canada and Bolero is now planning a follow-up work program to further define this anomaly. Bolero also anticipates a large number of assay results from both the "Red Chris South" Gold/Copper prospect and the "Carbonatite Syndicate" Rare Earth Element prospect to be available shortly."

Equity Exploration Consultants Ltd. recommends a follow-up work program to further define the soil anomaly. Grid soil sampling combined with detailed geologic mapping and prospecting over the anomaly is recommended to search for the source mineralization and to evaluate its nature and extent.

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; 100% interest in 139 mineral claims prospective for Rare Earth's covering 56,772 hectares (140,287 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. The Company is listed on the TSX-Venture Exchange under the symbol BRU, the Pink Sheets under the symbol BRUZF, 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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