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Bolero Resources Corp

Friday, November 2nd, 2007

Bolero Resources Corp. is pleased to announce that it has entered into a Term Facility with Auramet Trading, LLC of Fort Lee, New Jersey (“Auramet”), pursuant to which Auramet will, subject to satisfaction of certain conditions precedent including receiving consents from all applicable regulatory authorities, lend the sum of US$10 million as a project facility (the “Loan”). The Loan, which is expected to close on or about November 16th, will be made available for the acquisition of certain private surface and mineral rights (including patented claims) that include the Silver Creek molybdenum project and other copper-gold occurrences located in the Pioneer Mining District, Dolores County, Colorado approximately 20 miles southwest of Telluride and just east of Rico.
“We are pleased to have Auramet’s support. With this term facility, we have eliminated the funding risk for the purchase of the Silver Creek assets in Rico Colorado” states Bolero’s President and CEO R. Bruce Duncan. “Furthermore, this term facility allows the Company sufficient time to evaluate other financing initiatives.”
Additionally, a technical report on the Silver Creek Property compliant with the Canadian Securities Administrators National Instrument 43-101 has just been completed by Associated Geosciences Ltd. (AGL) and will be filed on SEDAR as soon as possible.
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