VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 26, 2008) - Bluerock Resources Ltd. (TSX VENTURE: BRD.V) (the "Company") reports that, further to its news release of May 9, 2008, it has closed its non-brokered private placement and issued an aggregate 5,800,000 units ("Units") at a price of $0.50 per Unit for gross proceeds of $2,900,000.00. Each Unit consists of one common share ("Share") and one half transferable share purchase warrant ("Warrant"). Each full warrant is exercisable for a period of one year from the closing date at a price of $0.85 per share.
The Company will use the proceeds of the private placement to fund further development of its Colorado mining projects towards uranium production. Bluerock intends to take full advantage of the toll milling capacity reserved for Bluerock Resources in the Company's toll milling agreement with Denison Mines (USA) described in the press release of January 16, 2008. All securities issued with respect to the private placement are subject to a hold period expiring September 23, 2008. A cash 5% finder's fee will be payable in association with a portion of the financing. Bluerock Resources Ltd. is a uranium exploration company focused on developing tomorrow's energy today through the acquisition and development of conventional uranium resources. ON BEHALF OF THE BOARD OF DIRECTORS Michael Collins, CEO, President and Director 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 filings with the B.C. Securities Commission. This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from registration is available. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.ContactsCary MartinBluerock Resources Ltd.
Manager Investor Relations
(604) 687-2471
(604) 687-2472 (FAX)
Email: info@bluerockresources.com
Website: www.bluerockresources.com
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