News

October 29th, 2009, VANCOUVER, B.C. – BOLERO RESOURCES CORP. (“Bolero” or the “Company”) (BRU-TSX:V) announced today that it has completed its previously announced private placement and has raised gross proceeds of $1,050,000. The Company was very pleased to note that demand for the offering exceeded the amount of securities offered.

Specifically, Bolero issued 7,000,000 units (“Units”) priced at $0.15 per Unit. Each Unit consists of one common share and one common share purchase warrant (“Warrant”). Each Warrant is exercisable at $0.30 for 24 months. The Units were offered to accredited investors only. The securities, including the compensation warrants, bear a legend restricting their resale until March 1, 2010. Commissions of $35,000 cash and compensation warrants to acquire 291,667 common shares at a price of $0.15 per common share for a period of 24 months were issued. Insiders of Bolero purchased 723,333 of the Units or approximately 10% of the Units sold. Proceeds of the financing will be used for general corporate purposes.

Bolero Resources Corp. is a Canada-based molybdenum mineral development and exploration company. Our primary assets are 100% interests in two significant molybdenum properties located in Montana, USA, which are the Bald Butte and Cannivan Gulch properties. The Company is listed on the TSX-Venture Exchange under the symbol BRU, as well as the Frankfurt Exchange under U7N. For more information, please visit www.boleroresources.com or call 604-683-3995.

On behalf of the Board of Directors

“R. Bruce Duncan”

President & CEO
(604) 683-3995

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.