Bald Butte has indicated resource containing 168.5 million pounds of Molybdenum and inferred resource containing 50.6 million pounds of Molybdenum



    VANCOUVER, March 31 /CNW Telbec/ - Bolero Resources Corp. (the "Company"
or "Bolero"), (TSX-V: BRU), (FRANKFURT: U7N) is pleased to report the results
of its updated mineral resource estimate on its Bald Butte project in Montana.
A resource report authored by Broad Oak Associates which is National
Instrument 43-101 compliant will be filed on Sedar within 45 days. The report
states that there is an indicated resource of 139,428,000 tons at a grade of
0.06% Molybdenum (168.5 million pounds of Molybdenum) calculated using a block
model with standard kriging. The report also states there is an inferred
resource of 45,121,000 tons at a grade of 0.056% Molybdenum (50.6 million
pounds of Molybdenum). These resources were calculated using a 0.04%
molybdenum cut-off grade for both categories. The above contained molybdenum
is the total material contained and does not take into account metallurgical
recoveries.
    The Bald Butte project is a molybdenum porphyry system that was
discovered in 1964 and explored by Amax in the 1970s and Gulf in the early
1980s. Work by Amax/Gulf included 55,103 feet of diamond drilling (50 holes)
and based on the results of these earlier exploration programs, a non NI
43-101 compliant probable drill indicated resource was estimated by Gulf in
1983, at 131 million tons grading 0.077% Molybdenum ("Mo") containing 183.4
million pounds of Mo. This historical resource was calculated at a 0.06% Mo
cut-off.

    
    -------------------------------------------------------------------------
                         Indicated Mineral Resource
    -------------------------------------------------------------------------
                       Tons          Grade          Grade
                    Greater        Greater        Greater
                than Cutoff    than Cutoff    than Cutoff        Million
    Cutoff %Mo       (000's)          % Mo         % MoS2        lbs. Mo
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    0.04          139,428.0          0.060          0.101          168.5

    0.05           93,466.4          0.068          0.114          127.2

    0.06           57,529.3          0.076          0.127           87.9

    0.08           29,201.5          0.106          0.178           33.4

    0.04           45,121.0          0.056          0.094           50.6

    0.05           28,206.0          0.063          0.105           35.3

    0.06           14,649.0          0.070          0.117           20.5

    0.08            1,898.1          0.089          0.149            3.4
    -------------------------------------------------------------------------
    

    Although some of the results for the 2007 drilling program have not been
received from the assay laboratory, it is now clear that the resource is still
open to the northeast and locally on the southeast and at depth. Bolero
expanded the mineralization significantly in 2007 and will continue to step
out with additional holes as part of the planned 2008 drilling.
    Mr. R. Bruce Duncan, President and C.E.O of Bolero noted that the total
resources at the property are now about 20% greater than the historic
resource. He stated that "he is confident that the Bald Butte property has the
ability to host a very significant large tonnage molybdenum deposit. It is
gratifying that the 2007 program (22 holes drilled of which only 15 have been
included in this resource calculation) has enabled the Company to enlarge the
deposit and report that a substantial portion of the resource is now in the
indicated category. The December 2006 NI 43-101 compliant report calculated an
inferred resource of 148.8 million tons at a grade of 0.06% Mo containing a
total of 178 million pounds of Molybdenum. The 2007 exploration program has
resulted in over 75% of the total resource moving to the indicated category
and an increase in the total resource from the previous NI 43-101 compliant
resource by 24%".
    Seven holes drilled as part of the 2007 program have not been included in
the resource calculation because they had not been reported from the assay
laboratory when the resource calculation was finalized. This is due to a
backlog in cutting and sampling the core, and long turn-around times at the
assay laboratory. Sampling has now been fast-tracked with the addition of a
second core saw and additional personnel. It is anticipated that all assays
will be received by the end of April 2008.
    Bald Butte is an outlying knob of resistant country rock a short distance
west of the continental divide. Access is presently by several miles of
unimproved dirt roads from the small community of Marysville, Montana. Helena,
the state capital, lies some 18 miles southeast of Bald Butte and is the
nearest population center of significant enough size to provide food, lodging
and other miscellaneous services. Infrastructure for the project is excellent.
A high-voltage power transmission line runs along the southeastern margin of
the property and the Burlington Northern railroad passes just six miles south
of the property.
    John Childs, Ph.D., Registered Geo (AZ) is the "qualified person" (as
such term is defined by NI 43-101) responsible for the preparation of the
technical information in this release.

    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.unitedbolero.com or call toll-free
888-945-4770.

    On behalf of the Board of Directors

    "R. Bruce Duncan"
    President & CEO

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




For further information:

For further information: Renmark Financial Communications Inc.: Henri
Perron, hperron@renmarkfinancial.com; Jason Roy, jroy@renmarkfinancial.com;
Media: Adam Ross, aross@renmarkfinancial.com, (514) 939-3989, Fax: (514)
939-3717, www.renmarkfinancial.com

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