Bolero Resources Corp. (the "Company" or "Bolero"), (TSX VENTURE:BRU), (FRANKFURT:U7N1) announces that drilling has now commenced on the "Carbonatite Syndicate" rare earth element prospect, located in Northern British Columbia, contiguous to Canadian International Minerals "Carbo" Rare Earth Element ("REE") property and Spectrum Mining Corporation's "Wicheeda" discovery that announced drill hole intersections of 48.64 metres of 3.55% combined rare earth elements (REE), 144 metres of 2.2% combined REEs and 72 metres of 2.92% REE's. Bolero's drilling will target multiple coincident airborne radiometric and magnetic anomalies with anomalous rare earth and indicator element soil geochemistry, identified through extensive 2010 soil samples that returned maximum concentrations of cerium (Ce) and lanthanum (La) to as high as 1205 ppm and 663 ppm respectively.

Project Map: http://www.boleroresources.com/docs/carbonatite_syndicate_claims_201101.pdf

Drilling on the Carbonatite Syndicate prospect will consist of approximately 2000 metres. Four drill pads have now been completed with the diamond drill currently set on the third pad. The 2011 airborne survey over the Carbonatite Syndicate is now complete and the final interpretation of airborne data is expected to be available shortly.

Bolero Resources' President and CEO, R. Bruce Duncan, stated "This is a very active time for Bolero with the initial drilling now underway on the Carbonatite Syndicate REE prospect as well as recently completed drilling on the Red Chris South prospect, in close proximity to Imperial Metals' "Red Chris" copper/gold discovery. Analytical results from the Red Chris South drilling are expected to be available shortly as well as the final interpretation of the recently flown airborne survey. All of Bolero's 2011 drill programs are the very first drilling initiatives on each prospect, testing the highest priority targets on each, with the ultimate goal of making multiple discoveries on our primary projects."

Dr. Roger Steininger, Ph.D., CPG (AIPG), a Company Director, is the "Qualified Person" (as such term is defined by NI 43-101) responsible for the preparation of the technical information in this release.

About Bolero Resources Corp.

Bolero Resources Corp. is a Canadian Gold and Rare Earth exploration and development company. Our primary assets include: 100% interest in the Red Chris South prospect, covering over 13,000 acres in north-western British Columbia, contiguous to Imperial Metals Corporation (III-TSX) and; the "Carbonatite Syndicate" consisting of 211 mineral claims prospective for REE covering over 222,415 acres contiguous to Spectrum Mining Corporation in northern British Columbia and; the "Charge" British Columbia REE prospect and; 2 separate quartz claim blocks covering over 6,500 acres in the "White Gold District" of the Yukon. The Company is listed on the TSX-Venture Exchange under the symbol BRU as well as the Frankfurt Exchangeunder U7N1. For more information, please visit: www.boleroresources.com or contact Investor Relations Toll Free.

On behalf of the Board of Directors

R. Bruce Duncan, President & CEO