AlphaNorth Makes Investment in Bolero Resources Corp.

TORONTO, Dec. 15 /CNW/ - AlphaNorth Asset Management ("AlphaNorth") announces that one of its investment funds has acquired ownership of 1,590,000 common shares and 1,500,000 warrants of Bolero Resources Corp. ("Bolero"). Each warrant can be exercised for an additional common share at $0.30 for two (2) years from October 28, 2009.

On a fully diluted basis, AlphaNorth owns or controls 3,090,000 common shares assuming the exercise of all warrants held by AlphaNorth, representing approximately 18.07% of the issued and outstanding common shares of Bolero and assuming that no further common shares of Bolero are issued or convertible securities exercised.

AlphaNorth acquired 1,500,000 common shares and 1,500,000 warrants in connection with Bolero's private placement which closed on October 28, 2009. AlphaNorth has also acquired an additional 90,000 common shares through the facilities of the TSX Venture Exchange. All securities acquired by AlphaNorth have been acquired for investment purposes only. Depending on market conditions, AlphaNorth may, from time to time in the future, increase or decrease its ownership or exercise its right to acquire additional common shares or other securities of Bolero through market transactions, private agreements or otherwise.

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.

SOURCE AlphaNorth Asset Management

For further information: For further information: Joey R. Javier, Partner/Trader, AlphaNorth Asset Management, Tel: (416) 483-5668


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