Blue Pearl Posts New Report on 'Structural Changes in Molybdenum Demand'



    TORONTO, April 11 /CNW/ - Blue Pearl Mining Ltd.
(TSX:BLE)(TSX:BLE.WT.A)(FRANKFURT:A6R), the world's largest publicly traded,
pure molybdenum producer, today announced it has posted on its website a new
report entitled "Structural Changes in Molybdenum Demand" by metals expert
Denis Battrum. The report outlines new and expanded uses of molybdenum in
steel alloys and catalysts.
    Mr. Battrum, who is founder and president of marketfriendly, inc. of
Kansas City, Missouri, has more than 30 years of purchasing, research and
sales experience in the mining, steel manufacturing and recycling industries.
Mr. Battrum has held the positions of Sales Manager at American Compressed
Steel Inc., Purchasing Manager at the Iowa and Minnesota plants at Cargill's
North Star Steel Company (subsequently acquired by Gerdau Ameristeel
Corporation), and Director, Market Research, at Saskatchewan Mining
Development Corporation (later renamed Cameco Corporation). Mr. Battrum is a
director of the Sprott Molybdenum Participation Corporation.
    The report was commissioned by Blue Pearl; however, the author is solely
responsible for the information and opinions in the report.

    About Blue Pearl Mining Ltd.

    Blue Pearl is the world's fifth-largest molybdenum producer. In October
2006, the Company purchased the Thompson Creek open-pit molybdenum mine and
mill in Idaho, a 75% share of the Endako open-pit mine, mill and roasting
facility in northern British Columbia, and a metallurgical roasting facility
in Langeloth, Pennsylvania. Blue Pearl is also developing the Davidson
high-grade underground molybdenum project near Smithers, B.C. The Company has
more than 700 employees. Its head office is in Toronto, Ontario. It also has
executive offices in Denver, Colorado (including sales and marketing) and
Vancouver, British Columbia. More information is available at
www.bluepearl.ca.

    Cautionary Note Regarding Forward-Looking Statements

    This news release contains "forward-looking information" which may
include, but is not limited to, statements with respect to the future
financial or operating performance of Blue Pearl, its subsidiaries and its
projects, the future price of molybdenum, the estimation of mineral reserves
and resources, the realization of mineral reserve estimates, the timing and
amount of estimated future production, costs of production, capital, operating
and exploration expenditures, costs and timing of the development of new
deposits, costs and timing of future exploration, requirements for additional
capital, government regulation of mining operations, environmental risks,
reclamation expenses, title disputes or claims and limitations of insurance
coverage. Often, but not always, forward-looking statements can be identified
by the use of words such as "plans", "expects", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes"
or variations (including negative variations) of such words and phrases, or
state that certain actions, events or results "may", "could", "would", "might"
or "will" be taken, occur or be achieved.
    Forward-looking statements involve known and unknown risks, uncertainties
and other factors which may cause the actual results, performance or
achievements of Blue Pearl and/or its subsidiaries to be materially different
from any future results, performance or achievements expressed or implied by
the forward-looking statements. Such factors include, among others, general
business, economic, competitive, political and social uncertainties; the
anticipated benefits of the acquisition not occurring in the expected time
frame or at all; the actual results of current exploration activities; actual
results of reclamation activities; conclusions of economic evaluations;
changes in project parameters as plans continue to be refined; future prices
of molybdenum; possible variations of ore grade or recovery rates; failure of
plant, equipment or processes to operate as anticipated; accidents, labour
disputes and other risks of the mining industry; political instability,
insurrection or war; delays in obtaining governmental approvals or financing
or in the completion of development or construction activities, as well as
those factors discussed in the section entitled "Risk Factors" in Blue Pearl's
short form prospectus dated October 13, 2006 which is available on SEDAR at
www.sedar.com. Although Blue Pearl has attempted to identify important factors
that could cause actual actions, events or results to differ materially from
those described in forward-looking statements, there may be other factors that
cause actions, events or results to differ from those anticipated, estimated
or intended. Forward-looking statements contained herein are made as of the
date of this news release and Blue Pearl disclaims any obligation to update
any forward-looking statements, whether as a result of new information, future
events or results or otherwise. There can be no assurance that forward-looking
statements will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements. Blue Pearl
undertakes no obligation to update forward-looking statements if circumstances
or management's estimates or opinions should change. Accordingly, the reader
is cautioned not to place undue reliance on forward-looking statements.

    Shares outstanding: 108,399,158





For further information:

For further information: Blue Pearl Mining Ltd., Ian McDonald, Executive
Chairman, (416) 860-1438, Email: info@bluepearl.ca; or Blue Pearl Mining Ltd.,
Wayne Cheveldayoff, Director, Investor Relations, (416) 860-1438, or Toll
Free: 1-800-827-0992, Email: wcheveldayoff@bluepearl.ca, Website:
www.bluepearl.ca; or Renmark Financial Communications Inc., Christina Lalli,
(514) 939-3989, Email: clalli@renmarkfinancial.com

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