Bolero Signs Definitive Agreement to Acquire the Asbury Mine

Bolero Resources Corp. (the "Company" or "Bolero"), (TSX VENTURE:BRU)
(FRANKFURT:U7N1) is pleased to announce that it has entered into definitive
agreement, dated August 25th, 2012, with Uragold Bay Resources Inc. ("Uragold"
or "UBR") for the purchase of UBR's "Asbury" mining claims. The closing of the
transaction shall be completed on or before October 15, 2012. The terms of the
agreement are the same as disclosed in Bolero's press release dated August 9th,
2012. Uragold's shares trade on the TSX Venture Exchange under the symbol "UBR".


The transaction is also subject to receipt by Bolero of the approval of the TSX
Venture Exchange.


ABOUT ASBURY GRAPHITE MINE

The past producing Asbury Graphite Mine property consists of four claims and is
located approximately 10km northeast of Notre-Dame-du-Laus and about 120km north
of the Ottawa-Gatineau area. It is accessible by a good road and a power
transmission line runs to the property. Some of the old mill structure still
exists and could be refurbished to house a dry milling process. The open pit
mine and mill were in operation from 1980 to 1989 where a total of less than
70,000 tons were processed. The operation was shut down in 1990 due to falling
graphite prices.


A qualified person has not done sufficient work to classify the historical
estimate as current mineral resources or mineral reserves; and Bolero is not
treating the historical estimate as current mineral resources or mineral
reserves.


In 1974, a historic estimate of 578,000 tons grading 10% large flake graphite
was reported. Additional drilling in 1985 indicated the potential for additional
ore at the bottom of the pit and both to the north and south of the existing
pit. These included significant intervals ranging from around 4 to 10% carbon. 


A qualified person has not verified the relevance and reliability of the 1974
metallurgical results outlined above. A qualified person has not verified the
relevance and reliability of the 1985 drill results outlined above. 


Past metallurgical tests on bulk samples from the deposit have shown that a
graphite concentrate with a recovery of 85% was produced where by 50% of the
concentrate falls into the large flake grade with an average carbon content of
90% and a flake size of +80 mesh. 25% fall in the medium flake category with an
average carbon content of 80% carbon and a flake size between -80 and +200 mesh.
With more advanced milling technology available today, these recoveries and
purity may be significantly improved. 


ABOUT BOLERO RESOURCES CORP. (TSX VENTURE:BRU) 

Bolero Resources is a junior natural resource company focused on the acquisition
and development of graphite properties throughout Canada. Bolero holds a 100%
interest in 38 mineral claims located in Maria Township, 17 kilometres south of
the community of Bissett Creek on the Trans Canada Highway between the cities of
Ottawa and North Bay, Ontario. These claims cover an area of approximately 2,000
hectares (4,940 acres) that surround and are contiguous to Northern Graphite's
Bissett Creek graphite deposit. Northern Graphite recently reported the
extraction of very large high purity flake graphite consistent across the entire
resource with overall recovery rates of 97%. (NGC.V News Release 23/04/2012)


Throughout 2012, Bolero has been focusing on its primary goals of building and
strengthening our core operations in mineral exploration and development by
acquiring and developing quality-mining projects to ultimately increase
shareholder value.


On behalf of the Board of Directors

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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