Cannivan Gulch has indicated resource containing 225 million pounds and inferred resource containing 167 million pounds of molybdenum

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[{"type":"text","content":"\n\n\n\nVANCOUVER, Feb. 13 /CNW Telbec/ - Bolero Resources Corp. (the "Company"\nor "Bolero"), (TSX-V: BRU), (FRANKFURT: U7N) is pleased to announce it has\nreceived and will post on Sedar, a NI 43-101 compliant report on its Cannivan\nGulch property in Montana. This report is authored by Broad Oak Associates.\nThe report states that there is an indicated resource of 177,945,700 million\ntons at a grade of 0.06% Molybdenum (225 million pounds of Molybdenum)\ncalculated using a block model with standard kriging. The report also states\nthat there is an additional inferred resource of 146,363,500 tons at a grade\nof 0.06% Molybdenum (166.9 million pounds of Molybdenum). These resources were\ncalculated using a 0.04% Molybdenum cut-off grade for both categories. The\nabove contained Molybdenum is the total material contained and does not take\ninto account metallurgical recoveries.\n\n\nBased on historic drilling and on the results of two holes completed by\nBolero in 2007 (see press release January 7, 2008), the resource has not been\nclosed off to the north or to the south. In addition, portions of the resource\nare open to depth as well. Drilling planned for 2008 will be designed to both\nin-fill the resource and to test those areas where the resource is still open.\n\n\nThe Cannivan Gulch property is a molybdenum porphyry system that was\ndiscovered in 1968 and explored by Cyprus Exploration Company and Amoco\nMinerals Company in the 1970's and early 1980's. Work by Cyprus included\n55 core holes totaling 88,450 feet, 2,514 feet of drift, cross cut and two\ntest raises. Based on the results of these earlier exploration programs, a non\nNI 43-101 compliant resource was estimated by Amoco Minerals Company, in June\n1982, at 300 million tons grading 0.06% Molybdenum ("Mo"). This historical\nresource was calculated at a 0.03% Mo cut-off.\n\n\nSummary of the Mineral Resources at Cannivan Gulch\n\n-------------------------------------------------------------------------\n Indicated Mineral Resource\n-------------------------------------------------------------------------\n Grade Grade\n Tons Greater Greater Greater\n than Cutoff than Cutoff than Cutoff Million\nCutoff %Mo (000's) % Mo % MoS2 lbs. Mo\n-------------------------------------------------------------------------\n-----------------------------...

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