Bolero Announces $1,260,000 Flow-Through Financing

VANCOUVER, Canada, December 17 - Bolero Resources Corp. (the "Company" or "Bolero"), (TSX-V: BRU),
(FRANKFURT: U7N1) is pleased to announce the Company has agreed with the
Mineralfields Group to complete a private placement to raise gross proceeds
of $1.26-million. It has been agreed the offering will comprise 2,290,909
flow-through units at a price of $0.55 per unit. The units will comprise one
common share and one-half of one non-flow-through warrant, with each whole
warrant being exercisable for the purchase of an additional share, at a price
of $0.80 per share, for a two-year period. In connection with this offering,
First Canadian Securities will receive 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.

Bolero also wishes to announce a non-brokered private placement of up to
one million units at a price of $0.55 cents per unit to raise $550,000. Each
unit will consist of one common share and one-half of a common share purchase
warrant. Each whole warrant will entitle the holder to purchase one
additional common share of the Company at a price of $0.80 cents per share
for two years. Finders' fees may be payable.

Proceeds of the offerings will be expended on mineral exploration on
Bolero's claims package adjoining Imperial Metals Red Chris properties. The
private placements remain subject to receipt of TSX Venture Exchange
approval.

About Bolero

Bolero Resources Corp. is a Canada-based molybdenum 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)

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).

All amounts are in Canadian dollars

    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.

For further information: Bruce Duncan, President & CEO,
+1-604-683-3995, Fax: +1-604-683-3988, info@boleroresources.ca,
www.boleroresources.ca

For further information: Bruce Duncan, President & CEO, +1-604-683-3995, Fax: +1-604-683-3988, info at boleroresources.ca, www.boleroresources.ca/