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| ||October 02, 2006|
Bluerock Resources Ltd. Receives Permits And Signs Drill Contract For Skull Creek Project
| ||Vancouver, October 2, 2006 (BRD: TSX Venture) -Bluerock Resources Ltd. (the Company) announces it has a Notice of Intent Permit from the US Bureau of Land Management to conduct a drill program the Skull Creek Project in Colorado, USA. The Company has signed a contract to secure a diamond drill rig with a full core retrieval system for drilling on the Skull Creek project. The drill rig will be mobilized to the project today, October 2nd, 2006 with the program to commence shortly thereafter.|
Two targets are identified on the Skull Creek Project:
1. Confirmation drilling intended to establish further confidence in the historical resource*of 44.1 million lb U3O8 at a grade of 0.3% hosted in 10.6 million tons of Lignite as reported in a 1956 report from Geological Services if Moab Utah; and,
2. Roll front exploration targets associated with the adjacent sandstones.
* Estimates of uranium resources are historical in nature, predate and are noncompliant with NI 43-101. Bluerock is not treating the historical estimate as current mineral resources or reserves. Bluerock has not undertaken any independent investigation of the resource estimates nor has independently analyzed the results of the previous exploration work in order to verify the resources, and it is uncertain if further exploration will result in the target being delineated as a mineral resource. However, Bluerock believes that these historical estimates provide a conceptual indication of the potential of the occurrences and are relevant to ongoing exploration. Paul D. Gray P.Geo. is the Qualified Person with respect to the Skull Creek property.
This Phase I drill program will seek to test the extension of mineralization to depth in the lignite beds at 9 separate locations along the 12 mile (19km) strike of the outcropping lignite beds.
Phase II of the exploration program will involve more detailed testing of the uraniferous lignite bed system, and scout drilling for possible roll front mineralization targets to the south of the main lignite exposures.
An airborne radiometric/EM survey of the project is anticipated to begin after completion of the first round of drilling. Bluerock is actively working to permit a more extensive drill program for Phase II of the Skull Creek exploration program.
President Michael Collins commented: "Bluerock Resources Ltd. sets itself apart from other uranium exploration companies by focusing on rapidly exploring a select few projects with identified potential for resource growth. The Skull Creek Project (with it's underlying historical resource) could develop into an economic resource through the testing of the two identified exploration targets.
Bluerock Resources will continue to build a portfolio of conventional uranium targets in the US southwest and aggressively test them through drilling and related exploration programs."
The Company signed an option agreement with Energy Metals Corporation on August 14, 2006 which allows Bluerock to earn up to a 75% interest in the Skull Creek Project which hosts a historical resource* of 44.1 million lb U3O8 at a grade of 0.3% hosted in 10.6 million tons of lignite. The Skull Creek Property covers 12 miles (19 km) of outcropping lignite beds in the Sego Sandstone. The claim package extends southward to cover the down dip extension of the lignite beds and an associated roll front mineralization target in sandstone lying adjacent to the lignite beds. A total of 197 claims, and two state leases representing approximately 6 square miles of ground, are subject to the option agreement.
Bluerock Resources Ltd. is a uranium exploration company focused on discovering tomorrow's energy today through the acquisition and development of conventional uranium resources.
On Behalf of the Board of Directors,
Michael Collins P.Geo.
Bluerock Resources Ltd.
For further information, please contact:
Michael Collins, President
Bluerock Resources Ltd.
Telephone: (604) 629-4807
Facsimile: (604) 669-3357
Statements contained in this document that are not historical facts are forward looking statements as that term is defined in the private securities litigation reform act of 1995. Such forward -looking statements are subject to risks and uncertainties which could cause actual results to differ materially from estimated results. Such risks and uncertainties are detailed in the Company's filing with the B.C. Securities Commission.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release
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