Bluerock Resources Signs Option Agreement to Purchase 100% of the PSC Project, Garfield County, Utah

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Bluerock Resources Ltd. (the Company) announces it has signed an option agreement with Rincon Exploration & Development LLC (RED) to purchase 100% of the PSC Project in the Orange Cliffs Mining District, south central Utah, USA, and the direct purchase of the past producing Andrew Lloyd Mine (formerly know as the Dirty Devil Mine) from a private vendor.

The Orange Cliffs District is a Chinli Formation Uranium Camp located to the north east of the Shootaring Canyon Uranium Mill. The PSC Project consists of 35 claims in five distinct claim blocks which encompass one past producing mine (the Silver Bell Mine), the strike extension of the Andrew Lloyd Mine, two historic drill outs, and the one additional prospect. Historic production from the Silver Bell and Andrew Lloyd Mines graded 0.40% U3O8 and 0.17% U3O8 respectively.

As a part of the due diligence process, Company geologists have identified 40 prospective drill targets at depths of less than 150 feet (48m). The company has completed cultural and environmental surveys and has initiated drill permit applications for these sites.

Under the terms of the agreement (which is subject to regulatory approval), the Company can acquire 100% the PSC Project by:

- issuing to RED 79,500 common shares of the Company,

- completing US$1,050,000 in exploration work on the project over a period of three years;

and making advanced royalty payments of:

- $125,000 on the first anniversary of the date of the option agreement;

- $150,000 on the second anniversary; and

- $175,000 on the third anniversary.

Any production from these projects is subject to a net smelter royalty of 5% on U3O8, and V2O5, and a payment of US$0.75/lb on U3O8 reserved or mined.

President Michael Collins commented: "With two past producers and targets defined by historic drilling, Bluerock Resources Ltd. sees the PSC Project as an opportunity to quickly and efficiently drill test mine extensions and strong exploration targets that are supported by past production. In addition to the signing of the Tramp Mine lease announced February 21, 2007, this acquisition represents the latest step in Bluerock's commitment to grow its stable of conventional uranium projects in the US southwest."

Paul D. Gray, P.Geo. is the Qualified Person with respect to the PSC Project and has reviewed and approved this press release.

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, 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 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.




Contacts:
Bluerock Resources Ltd.
Cary Martin
Manager of Investor Relations
(604) 687-2471
(604) 687-2472 (FAX)
Email: cmartin@bluerockresources.com
Website: http://www.bluerockresources.com


Source: Bluerock Resources Ltd.

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