Bolero Acquires 38 Prospective Graphite Claims Surrounding Northern Graphite's Bissett Creek Deposit

Bolero Resources Corp. (the "Company" or "Bolero"), (TSX VENTURE:BRU),
(PINKSHEETS: BRUZF), (FRANKFURT:U7N1) is pleased to announce that the Company
has entered into a purchase agreement (the "Agreement") with GeoInvest
Enterprises Inc. ("GeoInvest") to acquire 38, prospective, large-flake Graphite
mineral claims (the "Property"), contiguous with Northern Graphite Corporation's
("Northern Graphite") (NGC - TSX.V) "Bissett Creek" Graphite deposit which
recently reported high recovery levels of large-flake, high-purity graphite,
consistent across its entire resource and overall recovery rates at
approximately 97%. (NGC.V News Release 23/04/2012)


Map Link: www.boleroresources.com

The Property is located in the Maria Township, approximately 17 kilometres from
the Trans Canada Highway between the cities of Ottawa and North Bay, Ontario.
The Property covers an estimated area of 4,990 hectares (12,335 acres) and is
contiguous to and completely surrounding the "Bissett Creek" graphite deposit on
all four sides. An extensive work program is now being planned to commence
shortly on these claims.


Bolero Resources' President and CEO, R. Bruce Duncan, stated "This significant
new acquisition gives Bolero exposure to the red-hot graphite market in a
location that hosts some of the world's richest graphite deposits, contiguous to
one of the most advanced new graphite projects in the world. Bolero is currently
establishing an experienced graphite technical team to initiate an extensive
2012 work program on the property. In addition to the commencement of work on
its property, Bolero will be advancing its


"Red Chris South" and "Carbonatite Syndicate" projects throughout the 2012 work
season."


About Northern Graphite's Neighboring "Bissett Creek" Deposit

The following technical information in this news release regarding the "Bissett
Creek" deposit has been obtained from Northern Graphite's technical report dated
February 2, 2011 and Northern Graphite's news release of September 20, 2011,
which are filed on SEDAR at www.sedar.com. The Company has not reviewed or
verified the data and we cannot confirm its accuracy. The following information
is not necessarily indicative of the mineralization on the Property.


Northern Graphite completed a National Instrument 43-101 Preliminary Economic
Assessment (the "PEA") in February, 2011. The PEA projected a 24% pre tax
Internal Rate of Return ("IRR") and a six year payback at a 1.5% cutoff and a
2,500 tonne/day processing rate. Graphite recoveries are projected at 94% and
the strip ratio was 0.66/1.


Northern Graphite announced a significant increase in estimated mineral
resources in September, 2011 based on the results from a 51 hole, 2,927 meter
drilling program. The new mineral resources indicated that production could be
scaled to much higher rates to meet anticipated future growth in graphite
demand. The results of Northern Graphite's exploration activities and scoping
studies, although proximate to the Company's newly acquired properties, are not
in itself indicative of the merit of same and readers are cautioned that such
information is only for the purpose if illustrating the geology of the region
where the Company will be exploring.




Bissett Creek Flake Graphite Deposite                                       
2011 Updated Mineral Resources (Diluted)                                    
----------------------------------------------------------------------------
                      Indicated                        Inferred             
----------------------------------------------------------------------------
%Cg        Tonnage(i)              In Situ  Tonnage(i)              In Situ 
 Cut-off     (metric     Cg(%) Graphite(ii)   (metric     Cg(%) Graphite(ii)
                tons) by LECO (metric tons)      tons) by LECO (metric tons)
----------------------------------------------------------------------------
0.986     25,983,000     1.81      470,300 55,038,000     1.57      864,100 
----------------------------------------------------------------------------
1.227     24,588,000     1.85      454,900 50,472,000     1.62      817,600 
----------------------------------------------------------------------------
1.50      19,954,000     1.99      397,100 33,672,000     1.81      609,500 
----------------------------------------------------------------------------
1.75      16,031,000     2.34      375,100 21,417,000     2.21      473,300 
----------------------------------------------------------------------------
2.0       11,921,000     2.50      298,000 14,584,000     2.37      345,600 
----------------------------------------------------------------------------



Relative density 2.63t/m3, 10% dilution, 90% mine recovery, (i)rounded to
nearest 1k, (ii)rounded to nearest 1k (Effective September 12, 2011)


Approximately 80% of graphite production is expected to be high carbon, +80 mesh
flake and 50% will be +48 mesh flake, resulting in premium pricing.


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
for the technical information in this release regarding the property.


Terms of the Agreement

Pursuant to the Agreement, the Company has agreed to pay to GeoInvest a total of
$100,000, with $50,000 payable upon signing the Agreement (now paid) and an
additional $50,000 payable upon the approval of the transaction by the TSX
Venture Exchange (the "Exchange"). The Company has also agreed to issue
1,000,000 common shares of the Company to GeoInvest upon the approval of the
transaction by the Exchange.


Pursuant to the Agreement, the Company has granted to GeoInvest a 2% net smelter
return royalty (the "NSR") and a production ("Production Royalty") royalty equal
to $25 per tonne of all graphite mined from the Property (the "Production
Royalty"). The Company may purchase 50% of the NSR (leaving


GeoInvest with a 1% NSR) by paying to GeoInvest $1,000,000 and additionally may
reduce the Production Royalty to $12.50 per tonne by paying to GeoInvest
$500,000.


The completion of the transaction is subject to the approval of the Exchange.
There can be no assurance that the transaction will be completed as proposed or
at all.


On behalf of the Board of Directors

R. Bruce Duncan, President & CEO

FORWARD LOOKING STATEMENTS: This news release contains forward-looking
statements, which relate to future events or future performance and reflect
management's current expectations and assumptions. Such forward-looking
statements reflect management's current beliefs and are based on assumptions
made by and information currently available to the Company. Investors are
cautioned that these forward looking statements are neither promises nor
guarantees, and are subject to risks and uncertainties that may cause future
results to differ materially from those expected. These forward- looking
statements are made as of the date hereof and, except as required under
applicable securities legislation, the Company does not assume any obligation to
update or revise them to reflect new events or circumstances.


All of the forward-looking statements made in this press release are qualified
by these cautionary statements and by those made in our filings with SEDAR in
Canada (available at www.sedar.com).
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