Bolero closes $1,250,000 flow-through financing

VANCOUVER, Dec. 22 /CNW Telbec/ - Bolero Resources Corp. (the "Company" or "Bolero"), (TSX-V: BRU), (FRANKFURT: U7N1) is pleased to announce that the Company has closed its previously announced flow-through financing with the Mineralfields Group to raise gross proceeds of $1.25-million. Specifically, Bolero issued 2,272,725 flow-through units ("Units") at a price of $0.55 per unit. Each Unit comprised of one common share and one-half of one non flow-through warrant ("Warrant"), with each whole Warrant being exercisable for the purchase of an additional common share, at a price of $0.80 per share, for a two-year period. In connection with this offering, First Canadian Securities received a 6% cash finder's fee and 2 year non-flow-through finder's fee warrants equal to 8% of the number units subscribed for at an exercise price of $0.55 per unit. The securities issued in the offering contain a resale legend lasting until April 22, 2010.

Bolero has not yet closed on any of the up to $550,000 in hard dollar units that it announced by press release on December 17, 2009.

Proceeds of the flow through offering will be expended on mineral exploration on Bolero's claims package adjoining Imperial Metals Red Chris properties.

    
    About Bolero
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Bolero Resources Corp. is a Canada-based mineral development and exploration company. Bolero's 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 U7N1. For more information, please visit www.boleroresources.ca.

    
    About MineralFields, Pathway and First Canadian Securities(R)
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MineralFields Group (a division of Pathway Asset Management), based in Toronto, Vancouver Montreal and Calgary, is a mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds (including the Pathway Multi Series Funds Inc. corporate-class mutual fund series). Information about MineralFields Group is available at www.mineralfields.com. First Canadian Securities(R) (a division of Limited Market Dealer Inc.) is active in leading resource financings (both flow-through and hard dollar PIPE financings) on competitive, effective and service-friendly terms, and offers investment banking, mergers and acquisitions, and mining industry consulting, services to resource companies. MineralFields and Pathway have financed several hundred mining and oil and gas exploration companies to date through First Canadian Securities(R).

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.

SOURCE BOLERO RESOURCES CORP.

For further information: For further information: R. Bruce Duncan, President & CEO, (604) 683-3995, info@boleroresources.ca

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BOLERO RESOURCES CORP.

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