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| | November 23, 2006
Bluerock Resources Ltd. Adds Second Drill Rig to Skull Creek Project, Finishes Mongolian Exploration Program
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| | Vancouver, November 23, 2006 (BRD: TSX Venture) - Bluerock Resources Ltd. (the Company) announces it has mobilized a second diamond drill rig to the Skull Creek Project in Colorado, USA. As of Thursday November 16, 2006 there are two rigs on site and producing core. The second drill was brought in to maintain the schedule in the face of unseasonably wet weather. The Company expects to complete the drill program on schedule before year end with assays to be reported in the new year.
Diamond Drilling at Skull Creek is intended to establish 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 of Moab Utah. The program is designed to test the mineralization in the lignite beds near surface and at depth at nine separate locations along the 12 mile (19km) strike of the outcropping lignite beds. (see BRD press release, Aug. 14, 2006)
(*) 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.
The Company also reports that its 2006 Mongolian field exploration program has been completed. This program targeted 6 of the 8 properties that are held within the option agreement with Uranerz Energy Corp. Work consisted of ground geophysics as well as soil, rock and water sampling. The program was designed to define and refine drill targets for the 2007 exploration program. Results will be reported in January 2007.
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."
Michael Collins P.Geo.
President,
Bluerock Resources Ltd.
For further information, please contact:
Michael Collins, President
Bluerock Resources Ltd.
Telephone: (604) 629-4807
Facsimile: (604) 669-3357
Website: www.bluerockresources.com
Email: info@bluerockresources.com
Risk Statement
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. . Paul D. Gray P.Geo. is the Qualified Person with respect to the Skull Creek property and the Mongolia Uranium Project.
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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