The Mining Stock Report

Bolero Resources Corp. has provided the results of the final 10 holes of the 2007 drilling program at its Bald Butte molybdenite property located in the Marysville mining district approximately 18 miles northwest of Helena, Montana.

All assays have now been received for the 22-hole core drilling program at the Bald Butte project. Drilling was completed in November, 2007. Full results for the drill program are available on the Bolero Resources website.

A summary table showing the significant intercepts in each of the last 10 holes of the 2007 drill program is
included. All 10 holes are shown on the map of the project area, shown at the company’s website. The intercepts are outlined in more detail in the table, shown at the company’s website.

R. Bruce Duncan, president and chief executive officer of Bolero, stated: “The results at Bald Butte continue to exceed our expectations. The latest results confirm the continuity and grade of the deposit. The resource continues to expand and is still open in several directions. Of particular note are holes BB07–8, 16 and 31 which were drilled at the previously defined edges of the deposit. These three holes encountered significant molybdenum grades indicating that the Bald Butte deposit is still open to the northwest, northeast and southeast. Additional drilling is needed to determine the full extent of the deposit.”

Hole	From	To	Interval	Grade (% Mo)
BB07–2A1	370	610	240	0.113
	40	920	880	0.079
BB07–4	1060	1350	290	0.032
BB07–8	140	280	140	0.082
	670	770	100	0.076
	0	999	999	0.05
BB07–11	340	580	240	0.06
	720	960	240	0.08
	250	960	710	0.053
BB07–12	730	1060	330	0.046
BB07–15	950	1280	330	0.03
BB07–16	460	1030	570	0.046
BB07–22	0	240	240	0.017
	240	1080	840	0.062
BB07–31	190	420	230	0.036
	630	900	270	0.058
	190	900	710	0.041
BB07–32	90	910	820	0.078

The significant features of each of the 10 holes are summarized below.

Hole BB07–2A1

This hole was designed to drill beneath hole BB07–2 which was lost early in the 2007 drill season at a depth of 470 feet due to badly broken ground. The bottom 110 feet of hole BB07–2 averaged 0.106 per cent Mo and the hole ended in a mineralized fault zone. These holes are in the south-central portion of the deposit. Hole BB07–2A1 was strongly mineralized from a depth of 40 feet to 920 feet and averaged 0.079 per cent Mo over this 880-foot interval. The entire 880-foot interval contains strong quartz-molybdenite stockwork veins. This zone includes 100 feet from 110 feet to 210 feet at a grade of 0.096 per cent Mo and 240 feet from 370 feet to 610 feet averaging 0.113 per cent Mo. This 240-foot zone of higher grade straddles the contact between the main quartz porphyry intrusive body and the overlying hornfels. The high-grade zone lies above the transition from intense biotite alteration downward into biotite and potassic feldspar alteration in the porphyry.

Hole BB07–4

Hole BB07–4 was drilled to test the southern limit of the dome-shaped mineralized envelope at Bald Butte. Only minor mineralization was encountered above a depth of 1,060 feet. The projection of the main ore shell is found in a 290-foot interval from 1,060 feet to 1,350 feet that averages 0.032 per cent Mo. This hole and hole BB07–15 appear to have defined the southern end of the mineralization where the ore shell steepens markedly to a dip of approximately 50 degrees and becomes less mineralized with depth. Hole BB07–4 was entirely in hornfels and no quartz porphyry was encountered.

Hole BB07–8

Hole BB07–8 was drilled to test the northeastward extension of the main ore shell and resulted in a significant extension to the deposit. The pattern of mineralization here is complicated by the occurrence of the large Belmont porphyry dike and the likelihood of two mineralizing intrusive bodies in this part of the ore zone. This hole was mineralized over its entire length from zero feet to 999 feet averaging 0.050 per cent Mo. This thick ore shell includes an interval of 140 feet from a depth of 140 feet to 280 feet averaging 0.082 per cent Mo and a second interval of 100 feet from 670 feet to 770 feet averaging 0.076 per cent Mo. This lower zone of high grade coincides with the Belmont feldspar porphyry which is thought to predate the mineralization and acts as a receptive host for the quartz molybdenum stockwork veins. The bottom 29 feet of the hole averages 0.031 per cent Mo indicating that the hole did not close off the mineralization at depth. This portion of the deposit clearly needs some offsetting holes to test the limits of the mineralization both laterally and at depth.

Hole BB07–11

Hole BB07–11 was designed to test the southwestern portion of the deposit. The hole averages 0.053 per cent Mo over an interval of 710 feet from 250 feet to 960 feet. This interval consists of two well mineralized zones separated by 130 feet of material that is below 0.03 per cent Mo. This low-grade interval corresponds with a quartz porphyry body that may be an intramineral intrusion. This intrusive is less altered and contains fewer stockwork veins than the enclosing hornfels. The upper and the lower mineralized zones consist of 240 feet at 0.060 per cent Mo and 240 feet at 0.080 per cent Mo respectively. Mineralization decreases below 990 feet and only minor mineralization greater than 0.03 per cent Mo occurs in mixed hornfels and quartz porphyry dikes between 990 feet and the end of the hole at 1,100 feet.

Hole BB07–12

Hole BB07–12 was designed to test the western limit of the deposit. The main ore shell has deepened in this hole with a 330-foot interval from 730 feet to 1,060 feet averaging 0.046 per cent Mo. This entire hole down to 1,079 feet was in hornfels. The bottom portion of the hole from 1,079 feet to 1,200 feet intersected mixed hornfels and quartz porphyry with intense quartz veining but with little molybdenite.

Hole BB07–15

This hole, like BB07–4 and BB07–12, tests the southern limit of the deposit the ore shell steepens to approximately 50 degrees and mineralization decreases with depth. This hole contains only minor 0.03 per cent Mo mineralization above a depth of 950 feet. The main ore shell is represented by 330 feet at a grade of 0.030 per cent Mo from 950 feet to 1,280 feet. Mineralization decreases from 1,280 feet through the end of the hole at 1,400 feet. The mineralization is contained entirely in hornfels of the Helena formation and no quartz porphyry was encountered.

Hole BB07–16

This hole was designed to test the eastern limit of the deposit and has significantly extended the mineralization eastward from the previously defined limit. Scattered zones greater than 0.03 per cent Mo were encountered starting at a depth of 280 feet. The main zone of mineralization starts at 460 feet and extends to 1,030 feet for an interval of 570 feet at a grade of 0.046 per cent Mo. This entire hole was drilled in hornfels with moderate to strong biotite alteration throughout. The hole needs to be offset with another hole to the southeast to test the extension of the mineralization from hole BB07–16.

Hole BB07–22

This hole was designed to infill previous drilling in the north-central part of the deposit. It intersected an excellent 840-foot zone of mineralization averaging 0.062 per cent Mo and extending from a depth of 240 feet to 1,080 feet. The interval from zero to 240 feet in this hole averages 0.017 per cent Mo and at least some of this material might be taken as material thereby decreasing the strip ratio for the main mineral zone which starts a depth of 240 feet. This hole was drilled in hornfels to approximately 1,180 feet. From 1,180 feet to the end of the hole at 1,395 feet the hole intersected mixed hornfels and quartz porphyry with moderate biotite alteration but only weak veining and mineralization.

Hole BB07–31

This hole was designed to test the northwestern limit of the deposit. It averages 0.041 per cent Mo from 190 to the end of the hole at 900 feet for an interval of 710 feet. This large interval includes upper, middle and lower zones consisting of 230 feet at 0.036 per cent Mo, 210 feet at 0.025 per cent Mo and 270 feet at 0.058 per cent Mo, respectively. The lowermost of these zones corresponds to the mineralized Belmont feldspar porphyry and its immediately adjacent footwall. The Belmont porphyry is thought to represent a premineral intrusive that is a receptive host rock. The hole ends in mineralization in the 0.03-per-cent Mo range. The 710 feet of relatively strong mineralization at shallow depths has extended the previously recognized mineralization farther to the northwest and additional drilling to offset this hole will be necessary to define the northwestern limit of the deposit and the projection of the mineralization to depth.

Hole BB07–32

This hole was designed to test the southeastern portion of the deposit and returned good results. The hole averaged 0.078 per cent Mo over an interval of 820 feet from a depth of 90 feet to 910 feet. The hole was drilled in hornfels with moderate to strong biotite alteration and veining to a depth of 828 feet. At 828 feet the hole encountered mixed quartz porphyry and hornfels, and finally quartz porphyry with biotite and potassic feldspar alteration though the end of the hole at 1,000 feet.

John Childs, PhD, registered geologist (Arizona), is the qualified person (as such term is defined by National Instrument 43–101) responsible for the preparation of the technical information in this release.