BOLERO DRILLS 1,098 FEET @ 0.068% Mo. AT BALD BUTTE - DRILLING CONTINUES TO EXPAND MINERALIZATION - DEMONSTRATES CONTINUITY OF THE RESOURCE.   

May 5th, 2008, Vancouver, BC, Canada - Bolero Resources Corp. (the "Company" or "Bolero"), (TSX-V: BRU), (FRANKFURT: U7N) is pleased to report additional results for the 2007 drilling program at its Bald Butte molybdenite property located in the Marysville mining district approximately 18 miles northwest of Helena, Montana.

The 2007 drilling program at Bald Butte totaled 23,835 feet of core and was conducted between June and November, 2007.  The property hosts a multi-phase quartz monzonitic intrusive complex that has intruded and strongly altered dolomite of the Proterozoic Helena Formation.  The best mineralization is in the hornfelsed, silicified, and stockwork veined Helena Formation adjacent to the quartz monzonitic intrusive bodies.

In summary, the six holes reported here are very encouraging.  The mineralization is demonstrating internal continuity and the new drilling is consistently adding tonnage to the resource.  A follow-on drilling program is planned for the upcoming summer field season. Significant intervals for the holes are summarized in the table below.

A fence of five core holes totaling 6,369 feet of core is reported in this news release.  The fence of holes extends from east-southeast to west-northwest across the northern portion of the resource as shown on the attached map. From southeast to northwest, the holes are: BB07-23, BB07-9, BB07-24, BB07-7, and BB07-14.  A sixth hole, BB07-6, in the west-central part of the resource is also reported here and is located southwest of the other five holes.  All six holes are shown on the map of the project area, shown here: www.boleroresources.ca/bbmap .  The intercepts are outlined in more detail in the table, shown here:  www.boleroresources.ca/bbtable .

These holes explore a portion of the Bald Butte resource where the dome-like ore shell overlying the main quartz monzonite intrusive is overprinted by a second pulse of mineralization related to a shallower, later wedge of quartz monzonite that rises to the northeast from the main intrusive mass.  The holes have confirmed the continuity and grade of the mineralization in the northern portion of the resource.  Hole BB07-23 with an intercept of 810 feet at 0.071% Mo and Hole BB07-9 with 520 feet at 0.061% Mo, have extended the limits of the mineralization to the northeast and have defined a zone of shallow mineralization that will be further evaluated in the next phase of drilling.

Hole BB07-23: was drilled to test the northeastern limit of the mineralization and has confirmed strong mineralization as outlined above.  This hole also confirmed excellent mineralization in the Belmont porphyry dike which was encountered between 640 feet and 790 feet in the hole.  The dike predates development of the molybdenum system and is either a very receptive host rock for the mineralization or possibly could reflect a separate mineralizing center to the northeast of the main intrusive complex. Hole BB07-23 is also significant in that it extends mineralization beneath the southwest dipping Belmont dike for approximately 190 feet and also extends the mineralization for approximately 190 feet deeper than had been projected based on historical drilling.  The potential target in the footwall of the dike that is suggested by Holes BB07-23, BB07-9 and other holes in this area has never been adequately tested as part of the hi storical drilling on the property.

Hole BB07-9: located approximately 200 feet northwest of Hole BB07-23 shows a similar pattern of good mineralization starting just 50 feet below the surface and totaling 520 feet at a grade of 0.061% Mo.  This hole was drilled toward the northeast and has extended the upper surface of the mineralized envelope for 250 feet horizontally and the lower surface of the mineralization for nearly 500 feet horizontally from the closest mineralized hole to the southwest.  This shallow mineralization is open to the northeast and represents a significant new extension of the resource.  This hole, like BB07-23 to the southeast, also intersected the Belmont porphyry dike and has confirmed strong mineralization in and adjacent to the dike.

Hole BB07-24: was collared in the north-central portion of the resource at the western edge of a five acre test pit. This hole intersected mineralization for its entire length from 0 feet to 1,098 feet at an average grade of 0.068% Mo.  The hole terminates in strong stockwork quartz-molybdenite veining within equally strong biotite alteration in hornfels derived from the Helena Formation.  The hole is open at depth with the last interval grading 0.046% Mo.  The hole did not reach the Belmont porphyry dike which is well mineralized in holes to the northeast, probably due to structural complexities in this part of the resource.  Hole BB07-24 drilled through the upper (younger) lobe of the composite quartz monzonite and confirmed strong mineralization for at least 570 feet in the footwall of this southwest dipping intrusive lobe.   Additional holes are planned to test both the dike and the extension of the mineraliz ation to depth.

The 2007 drill holes that intersected the Belmont porphyry dike have not only demonstrated that it is an excellent host for ore but also have indicated that the hanging wall of the dike is a major locus for post-mineral faulting.  We now believe that the dike was emplaced along a pre-existing structure, and was later mineralized by fluids focused along the same structure.  Molybdenum mineralization may have then been offset by reactivation of the same zone, possible due to structural weakening related to alteration. This could have significant implications for previously untested extensions of the mineralizing system on the northeast side of the dike and we intend to pursue these targets with additional drilling.

Hole BB07-7: is an outstanding hole with mineralization starting at a depth of 180 feet and extending to 1,070 for a intercept of 890 feet at a grade of 0.056% Mo.  Additional lower grade mineralization in the 0.03% Mo range is found both above and below the main mineralized zone. 

BB07-14: the westernmost hole in the fence of holes, contains an excellent interval from 630 feet to 740 feet that totals 110 feet at a grade of 0.12% Mo including 10 feet at 0.524% Mo. This interval forms part of a much larger mineralized zone extending from 320 feet to 1,060 feet and grading 0.057% Mo.

Hole BB07-6: this hole, along with Holes BB07-7 and BB07-14, confirm and extend the resource in the western part of the mineralization.  BB07-6, like BB07-7, indicates that the best mineralization extends down to approximately 100 to 200 feet above the quartz monzonite contact with grades tapering off immediately adjacent to the intrusive.  Hole BB07-6 has strong mineralization from 390 feet to 870 feet for a 480 foot intercept at a grade of 0.081% Mo.  We plan to offset this excellent zone with future drilling and the first of these planned holes has already been permitted.

A strict regimen of standards and blanks has been inserted in the sample stream for all of the holes in the 2007 program and the results reported for these samples by ALS Chemex have tracked well with the certified values.  In addition, we have run duplicate splits of the pulps for select samples from these holes and these duplicates are also reporting consistent results.

John Childs, Ph.D., Registered Geo (AZ) is the "qualified person" (as such term is defined by NI 43-101) responsible for the preparation of the technical information in this release.

Bolero Resources Corp. is a Canada-based molybdenum mineral development and exploration company.  Our 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 U7N. For more information, please visit www.boleroresources.ca or call toll-free 888-945-4770.

On behalf of the Board of Directors

"R. Bruce Duncan"
President  & CEO

Renmark Financial Communications Inc.
Henri Perron: hperron@renmarkfinancial.com
Jason Roy: jroy@renmarkfinancial.com
Media - Adam Ross: aross@renmarkfinancial.com
Tel. : (514) 939-3989
Fax : (514) 939-3717
www.renmarkfinancial.com

THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.