J-Bird Uranium Mine Project, Montrose County, Colorado, USA

Vancouver, B.C., September 6, 2007 -- Bluerock Resources Ltd. (TSX-V:BRD) (the Company) announces it has signed an option agreement with Rimrock Exploration and Development Inc. (Rimrock) to purchase the J-Bird Uranium Mine Project in Montrose County, Colorado, USA.

The J-Bird Uranium Mine project consists of 25 mineral claims encompassing the newly permitted J-Bird Uranium Mine, mine site and surrounding area. The Project is located west of the historic Uravan Uranium/Vanadium Mineral Belt, Montrose County, Colorado which is the main target of the Company's aggressive uranium project acquisition and production strategy. The J-Bird Uranium Mine Project is permitted for mining operations with both the state and BLM offices, and this fact will allow the Company to initiate immediate development and production of the J-Bird Uranium Mine. A valid exploration drilling permit is also in place which will allow the Company to quickly advance exploration drilling on the Project.

The J-Bird claim block hosts three historic uranium producers (Maud, Prayer 9 and Yellow Bird) and adjoins a fourth historic uranium mine (Uranium Girl). Grade* at the Yellow Bird Uranium Mine was reported by the USGS to be 0.34% U3O8 and 1.80% V2O5. Recent exploration on the J-Bird claim block has been conducted by a private company, precluding the need to develop a reportable resource. However drilling in 2006 and 2007 defined four areas of uranium mineralization within 1,200 feet (360m) of the proposed J-Bird portal site.

*The historical data and information stated herein is not NI 43-101 compliant and has not been verified by the Company, but is considered relevant and reliable. The Company intends as part of its work program to verify the same using methods and calculations recognized under N.I. 43-101.

Of the 18 RC holes drilled in 2006 and 2007 five of these holes remain open. As a part of the Company's due diligence on the project, third party downhole gamma logging was conducted on these open holes. This program returned mineralized interval results from 0.066% eU3O8 over one foot (0.33m) to 0.756% eU3O8 over three feet (0.91m), which confirm the tenor of the reported values and speak to the economic potential of the project.

Company due diligence results are summarised below:

---------------------------------------------------------------------
Hole ID                   Depth              Interval          Grade
---------------------------------------------------------------------
                     (feet) (metres)     (feet) (metres)     % eU3O8
---------------------------------------------------------------------
JB9-07               192.5    58.67        1.5     0.46        0.186
---------------------------------------------------------------------
JB12-07              115.5    35.20          1     0.33        0.066
                     117.5    35.81        1.5     0.46        0.363
---------------------------------------------------------------------
JB13-07              122.5    37.34          1     0.33        0.083
---------------------------------------------------------------------
JB14-07                136    41.45          3     0.91        0.756
including              138    42.06        0.5     0.15        1.595
---------------------------------------------------------------------
JB18-07                176    53.64        1.5     0.46        0.272
                       178    54.25        2.5     0.76        0.292
---------------------------------------------------------------------

Century Geophysical Corp. was contracted by the Company to conduct this downhole gamma logging due diligence program. Century Geophysical Corp. has a long history of providing third party downhole probe services to the uranium exploration and development industry and is well known and respected in the industry. The Downhole gamma logging reported in this release utilized a "10 inch log, GAMMA-SP-RES" unit with calibration both prior to, and after the physical logging of the bore hole.

A 20,000 foot (6,100m) drilling program at the J-Bird Mine Project has been contracted to Rimrock Exploration and Development utilizing Rotary Circulation (RC) drilling. It is expected that this drilling will occur over the next year in several distinct programs, building iteratively on successive results. The Company intends to establish a resource at the J-Bird Uranium Mine in the summer of 2008.

Historical data (1960's vintage) from the Vanadium Corporation of America has been identified and will be integrated into the Company's exploration and development work at the J-Bird Uranium Mine Project.

Pending TSX Venture Exchange acceptance the Company will immediately move to execute an exploration drill program on the J-Bird Uranium Mine Project. The company also intends to collar an underground portal and extract a bulk sample in support of a scoping study to prepare the J-Bird Uranium Mine for production. The J-Bird Uranium Mine Project joins with Bluerock's Tramp Mine and Cone Mountain project to exceed a projected production threshold that will enable the Company to fulfill key toll milling requirements of Denison's White Mesa Uranium Mill, the only fully permitted Uranium mill in the US south west.

Under the terms of the agreement (which is subject to regulatory approval), the Company can purchase 100% of the J-Bird Uranium Mine Project from Rimrock by:

Paying US$200,000 upon receipt of Exchange approval to the Agreement;
Paying an additional US$300,000 on or before December 1, 2007;
Paying an additional US$300,000 on or before August 21, 2008; and
Completion of US$200,000 of Reverse Circulation Drilling.

Bluerock President Michael Collins commented: "Bluerock is very excited to begin work on the J-Bird Uranium Mine Project. The grade and tenor exceeds our expectations in developing an aggregate resource base in combination with the Cone Mountain Uranium Project and the Tramp Uranium Mine as we pursue our goal of becoming a uranium producer under a toll milling scenario. Bluerock will continue to work to identify significant uranium projects that can be developed and produced quickly under a toll milling structure.

Paul D. Gray, P.Geo. is the Qualified Person with respect to the J-Bird Uranium Mine Project and has reviewed and approved this press release.

Donna K Uranium project, Montrose County, Colorado, USA

Vancouver, B.C., November 22, 2007 - Bluerock Resources Ltd. (TSX-V: BRD) (the Company) announces it signed an option agreement to purchase 100% interest in the Donna K Uranium project, Montrose County, Colorado, USA. The project is located in the Uravan Uranium Mineral Belt on the site of the historic Donna K Uranium Mine

The Company has obtained historical drill data* with 37 significantly mineralized intercepts, 11 of which lie within 3 discrete blocks. Highlights of these drill records include 3.37 % eU3O8. over 2.5 feet (0.8m) and 0.49 % eU3O8. over 2.0 feet (0.6m).

*The historical work was conducted in the 1950's and 1970's by operators including Vanadium Corp of America. The reliability of this historical data is unknown but considered relevant by Company management. This historical data is non-N.I. 43-101 compliant and should not be relied upon. There is no more recent data available. It is the Company's intention to verify this historical data. Confirmation work may produce results that differ substantially from the historic results.

Highlights of historic* drill intersections include:

Mineral Block	Drill Hole #	Thickness Feet (m)	Grade % eU3O8
North	22-az	1.5 (0.5)	0.42
North	27-76	1.0 (0.3)	0.3
North	28-76	2.0 (0.6)	0.21
North	31-76	1.0 (0.3)	0.43
North	36-76	1.0 (0.3)	0.83
West	56-33	1.5 (0.5)	0.45
West	56-33	1.0 (0.3)	0.92
West	57-1	2.5 (0.8)	3.37
West	57-11	2.0 (0.6)	0.61
West	57-11	1.5 (0.5)	1.8
West	57-12	1.5 (0.5)	0.42
West	57-3	3.0 (0.9)	0.22
West	57-5	0.5 (0.2)	0.22
East	56-8	2.0 (0.6)	0.49
East	58-2	0.7 (0.2)	0.54

President Michael Collins commented: "The Donna K uranium mine provides Bluerock with another advanced project for exploration and potential production within the Uravan Uranium District as we work to become a uranium producer under a toll milling scenario."

The rugged terrain of the Donna K project previously inhibited vertical drilling of favourable zones. The Company intends to utilize modern angle drilling techniques to expand on these historic results.

Under the terms of the agreement (which is subject to regulatory approval), the Company can purchase a 100% interest in the Donna K Uranium Mine from R. Neesham, L.R. Draves and T. Neesham, by:

Pay US$67,000 and issue 22,000 shares on exchange approval,
Pay US$53,000 on the first anniversary of exchange approval; and
Pay US$40,000 on the second anniversary of exchange approval.

Paul D. Gray, P.Geo. is the Qualified Person with respect to the Donna K's Uranium Project and has reviewed and approved this press release.

Tramp Mine Project, Montrose County, Colorado, Usa

The Tramp Mine Project consists of eight claims encompassing the underground Tramp Mine and mine site, with an additional 51 claims staked immediately adjacent to the mine site. The Project is located in the historic Uravan Uranium/Vanadium Mineral Belt, west of Uravan, Montrose County, Colorado. The Tramp Mine is currently permitted for mining operations, and Mayan holds a prospecting permit for 50 exploration drill holes.

The Tramp Mine has been operated in various phases from the 1950's to the early 1980's with historic production reported to grade 0.28% to 0.32% U₃O₈. Vanadium credits averaged 1.5% to 1.7% V2O5. Past production grades in the Uravan Mineral belt have ranged from 0.15 to 0.4% U₃O₈. Historically, Tramp Mine production has been conducted by small mine operators, with production and exploration focused close to development; therefore there has been no serious effort to block out an ore reserve.

Mineralization is exposed in;

Underground workings with grab samples (by Company Geologists) returning grades of 1.79%, 0.519% and 0.229% U₃O₈ respectively;
Two historic drill intersections located proximal to historic workings with grades of 0.30% U₃O₈ over five feet (1.5m) and 0.82% U₃O₈ over 2.5 feet (0.75m). This work was conducted by a previous operator and will need to be verified by the Company.
In 2006, Mayan drilled 19 RC holes with varying depths of 80 to 150 feet (25-45m), 11 of which are reported to have intersections grading between 0.05% and 0.45% U₃O₈ (calculated by gamma log). This work was not supervised by a qualified person or third party and the work will have to be verified by the Company.

Historic work on the project has identified three high priority targets for drilling that are proximal to historic workings, have the potential to be drilled off, and if economically feasible, developed quickly. The prospecting permit in place allows the Company to immediately drill within the original eight claims that comprise the Tramp Mine Permit area. The excellent ground conditions and trackless portal access, afford relatively low infrastructure costs associated with the reactivation of mining. The historical data stated herein is considered relevant and reliable, however the Company intends as part of its work program to verify the same using methods and calculations recognized under NI 43-101.

Pending TSX Venture Exchange acceptance the Company will immediately move to execute a drill program, to survey and map the underground workings and to develop a scoping study to prepare the Tramp Mine for renewed production. The Company also intends to design and permit an exploration drilling campaign on the adjacent 51 claims that have been staked over the highly prospective ground to west of the claims. These additional claims cover the west extension of the Morrison Formation host rock of the Tramp Mine. It is postulated that this under-tested ground immediately adjacent to the Tramps Mine could hold similar grades of uranium/vanadium mineralization in paleo-channel structures. Data compilation and geological mapping of these areas will commence in the next few months.

Under the terms of the agreement (which is subject to regulatory approval), the Company can lease the Tramp Mine Project by:

Issuing to Mayan or its assignees 1,500,000 common shares of the Company upon Exchange approval;
Paying $184,460 as reimbursement of costs incurred by Mayan to locate, record and acquire the Project;
Paying $100,540 upon the execution of the agreement;
Paying $50,000 advanced royalties on the first anniversary of the agreement;
Paying $100,000 advanced royalties on the second anniversary of the agreement;
Paying $100,000 advanced royalties on the third anniversary of the agreement if production has not commenced, and a like amount annually thereafter on each anniversary of the agreement until production has commenced;
A sliding scale royalty of 2-15% for U₃O₈; and
A net smelter royalty of 12% on V2O5.

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

The Carpenter Flats Project / The Eagle Basin Projec

Vancouver, B.C., May 23, 2007 -- Bluerock Resources Ltd. (TSXV: BRD) (the Company) announces it has signed lease agreements with Mayan Resources Ltd. (Mayan) on two uranium projects in the Uravan District, Montrose County, Colorado, USA. The acquisition of these mineral claims in the historically important Uravan Mineral Belt expands Bluerock's existing mineral position in the area. The Uravan region was a major uranium production area for the United States in the 1950s -- 1980s and Bluerock believes it will be again in the near future.

The Carpenter Flats and the Eagle Basin Projects (together consisting of over 11,250 acres) are both located within five miles of Bluerock's Tramp Mine Project. These new projects have seen extensive mining and development work and the Company has begun to prioritize historic mineralization targets for drill programs.

The Carpenter Flats Project

A total of 243 mineral claims located to the north and west of Bluerock's Tramp Mine Project have been acquired by the Company. The area has seen production grades of over 1% U3O8 at the Rajah Mine and hosts several past producers. Initial work on the Carpenter Flats project will consist of data compilation in order to prioritize targets for a planned drill program.

The Eagle Basin Project

A total 145 mineral claims have been acquired to the immediate south of Uravan Colorado, and two miles east of Bluerock's Tramp Mine Project. The project covers the Sunbeam Mine, the Club Mine, and the Merry Widow mine. Which were all historic Uranium/Vanadium Producers. Additional past producers are covered by these claims including the FortyfiveNinety and Fairy Queen deposits. The large area of the mineral claims has given Bluerock considerable coverage of not only these historic producers, but also the strike extensions of the Rex Mine's hosting Salt Wash member of the Morrison Formation. The Company has obtained and continues to acquire historic drilling and production data from this area. Bluerock intends to move quickly to permit a planned drill program on the Eagle Basin Project.

Under the terms of the Carpenter Flats agreement (which is subject to regulatory approval), the Company can lease the operation by:

issuing to Mayan or its assignees 486,000 common shares in the capital stock of the company. US $62,268.75 as a reimbursement of costs incurred by Mayan to locate, record and acquire the Claims;
US $50,000 upon the execution of this Agreement;
US $50,000 on the first anniversary of the Effective Date;
US $100,000 on the second anniversary of the Effective Date; and
US $100,000 on the third anniversary of the Effective Date if production has not commenced, and a like amount annually thereafter on each anniversary of the Effective Date until production has commenced.

Under the terms of the Eagle Basin agreement (which is subject to regulatory approval), the Company can lease the operation by:

issuing to Mayan or its assignees 290,000 common shares in the capital stock of the company.
US $37,156.25 as a reimbursement of costs incurred by Mayan to locate, record and acquire the Claims;
US $50,000 upon the execution of this Agreement;
US $50,000 on the first anniversary of the Effective Date;
US $100,000 on the second anniversary of the Effective Date;
US $100,000 on the third anniversary of the Effective Date if production has not commenced, and a like amount annually thereafter on each anniversary of the Effective Date until production has commenced; and

Both agreements are subject to a sliding scale royalty of 2 to 15% for U3O8 and a net smelter royalty of 12% on V2O5.

Paul D. Gray, P.Geo. is the Qualified Person with respect to the Tramp Mine, Eagle Basin and Carpenter Flats properties and has reviewed and approved this press release.

PSC Project, Orange Cliffs District, Garfield County, Utah

Option to purchase 100%

Click to enlarge

The PSC Project is located in the Orange Cliffs Mining District, south central Utah, USA. 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. The company has also purchased the Andrew Lloyd Mine (held within two BLM claims) which is located internally to one of the five PSC Project claim blocks

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.

Paul D. Gray, P.Geo. is the Qualified Person with respect to the PSC Project.

Hidden Splendor Uranium Mine, Utah

The Hidden Splendor Mine has been intermittently mined since discovery in 1952. Randy Mecham, the current owner, was involved in mining the deposit in the 1970's until market conditions caused a cessation of operations. Historical production at the Hidden Splendor Mine graded 0.20% U3O8 (4.4 lb per ton of yellow cake). Data obtained by the Company indicates a historical resource* of 180,000 lb U3O8 in 37,000 tons with an average grade of 0.25% U3O8. Mineralization is open on s trike of the deposit and is the primary exploration target.

Prior to the mine closure in the late 1970's a lower lens of mineralization was identified in the course of normal production activities. 10,000 tons of ore was produced from this zone at a grade of 0.30 % U3O8. This lens remains untested and represents a second target for the Company's exploration.

Under the terms of the option agreement which is subject to due diligence and exchange approval, Bluerock Resources Ltd. will earn 100% interest by paying US$40,000 in cash payments and US$150,000 in advanced royalties, and spending US$400,000 on exploration over three years. The Project is also subject to a 5% Royalty in favour of the vendors of the Project.

Bluerock President Michael Collins commented: "The Hidden Splendor Mine builds the Company's activities at the PSC Project and the corporate goal of developing a nucleus of significant resources in south central Utah.

Bluerock Resources Ltd. is a uranium exploration company focused on discovering tomorrow's energy today through the acquisition and development of conventional uranium resources.

Skull Creek Property, Colorado USA

Option to earn up to a 75% interest from Energy Metals Corp.

Bluerock Resources Ltd. has signed an option agreement with Energy Metals Corporation (EMC) to form a joint venture on the Skull Creek Project in North West Colorado, USA. Bluerock can earn up to a 75% interest in the Skull Creek Project which hosts near surface meralization with grades of 0.3% U3O8. Historical work has reported grades of up to 1.2% U3O8 in near surface adits. Bluerock see teh Skull Creek project as a strong target for developing near surface open pitable resources.

Under the terms of the agreement, Bluerock has the option to earn a 75% interest in these projects by:

spending US $1,000,000 on the property over five years;
issuance of a total of 1.15 million shares staggered over five years;
make a payment of US $6,000 on signing and reimburse EMC for certain staking costs and fees for expanding the claim package in the summer of 2006;
Completing a feasibility study on the project.

The Skull Creek Project is comprised of 197 claims covering approximately 3,940 acres located on public lands administered by the Bureau of Land Management and 1,280 acres of State of Colorado leases. The original position of 72 claims was acquired in the Standard Uranium Inc.- EMC merger. Bluerock's property covers uranium mineralization in steeply dipping lignite beds hosted within the Sego Sandstone along 12 miles of the east-west striking northern limb of the Red Wash Syncline.

According to a 1956 geologic report by Geological Services of Moab, Utah (Geologic Reconnaissance Report on Lignite Properties in Moffat County, Colorado by Wm. Dean McDougald and R. L. Mehle), uranium mineralization is contained in three of seven lignite and carbonaceous shale seams separated by much thicker sandstone beds. The seams are classified in numerical order from oldest to youngest as 1 through 7. McDougald and Mehle reported that the No. 2 Seam is continuous and mineralized over a 12 mile strike length while the No. 3 and No. 5 seams show less thickness and continuity. Bluerock holds 10.1 miles of the 12-mile mineralized strike length documented in the report on its mineral claims and has been granted Colorado State Leases for an additional two miles.

Uranium in the lignites and sandstones of the Sego unit were derived from weathering of the then overlying Browns Park Formation, a tuffaceous unit containing minute uranium values. Weathering and downward migration of the resulting uranium-charged groundwater provided a source of uranium and the organic material present in the lignites and sandstones provided a ready reductant to fix the uranium in place.

J-Bird Uranium Mine Project, Colorado USA

Option agreement with Rimrock Exploration and Development Inc. (Rimrock) to purchase the J-Bird Uranium Mine Project in Montrose County, Colorado, USA.

The J-Bird Uranium Mine project consists of 25 mineral claims encompassing the newly permitted J-Bird Uranium Mine, mine site and surrounding area. The Project is located west of the historic Uravan Uranium/Vanadium Mineral Belt, Montrose County, Colorado which is the main target of the Company's aggressive uranium project acquisition and production strategy. The J-Bird Uranium Mine Project is permitted for mining operations with both the state and BLM offices, and this fact will allow the Company to initiate immediate development and production of the J-Bird Uranium Mine. A valid exploration drilling permit is also in place which will allow the Company to quickly advance exploration drilling on the Project.

The J-Bird claim block hosts three historic uranium producers (Maud, Prayer 9 and Yellow Bird) and adjoins a fourth historic uranium mine (Uranium Girl). Grade* at the Yellow Bird Uranium Mine was reported by the USGS to be 0.34% U3O8 and 1.80% V2O5. Recent exploration on the J-Bird claim block has been conducted by a private company, precluding the need to develop a reportable resource. However drilling in 2006 and 2007 defined four areas of uranium mineralization within 1,200 feet (360m) of the proposed J-Bird portal site.

*The historical data and information stated herein is not NI 43-101 compliant and has not been verified by the Company, but is considered relevant and reliable. The Company intends as part of its work program to verify the same using methods and calculations recognized under N.I. 43-101.

Of the 18 RC holes drilled in 2006 and 2007 five of these holes remain open. As a part of the Company's due diligence on the project, third party downhole gamma logging was conducted on these open holes. This program returned mineralized interval results from 0.066% eU3O8 over one foot (0.33m) to 0.756% eU3O8 over three feet (0.91m), which confirm the tenor of the reported values and speak to the economic potential of the project.

Company due diligence results are summarised below:

---------------------------------------------------------------------
Hole ID                   Depth              Interval          Grade
---------------------------------------------------------------------
                     (feet) (metres)     (feet) (metres)     % eU3O8
---------------------------------------------------------------------
JB9-07               192.5    58.67        1.5     0.46        0.186
---------------------------------------------------------------------
JB12-07              115.5    35.20          1     0.33        0.066
                     117.5    35.81        1.5     0.46        0.363
---------------------------------------------------------------------
JB13-07              122.5    37.34          1     0.33        0.083
---------------------------------------------------------------------
JB14-07                136    41.45          3     0.91        0.756
including              138    42.06        0.5     0.15        1.595
---------------------------------------------------------------------
JB18-07                176    53.64        1.5     0.46        0.272
                       178    54.25        2.5     0.76        0.292
---------------------------------------------------------------------

Paying US$200,000 upon receipt of Exchange approval to the Agreement;
Paying an additional US$300,000 on or before December 1, 2007;
Paying an additional US$300,000 on or before August 21, 2008; and
Completion of US$200,000 of Reverse Circulation Drilling.

Mongolian Uranium JV

Bluerock Resources Ltd. 60% interest in JV with Uranerz Energy Corporation

The Mongolian JV Project has eight (6) separate land packages that were selected on the basis of existing mineralization and prospectivity to host an economic resource of uranium mineralization. These properties (together forming more than 280,000 ha.) are primarily located in four (3) distinct Cretaceous Basinal settings in the central and eastern part of Mongolia.

Bluerock's Corporate Strategy recognizes the Mongolian JV properties represent an advanced and grassroots land package which can be explored and advanced quickly as a group. The projects are more than simply single distinct targets, but a suite of highly prospective land holdings covering known mineralization on largely under-explored ground. A synergy is generated by exploring these targets together, and it offers an opportunity to increase shareholder value.

The Khavtsal project is the most advanced exploration project in the JV package. Historic work (drilling and trenching) conducted in the 1980's by the Soviets' has reported grades of up to 0.31%U3O8 over a thicknesses of 0.5 metres. This work focused on the central portion of the permit area where uraniferous lignite is exposed in outcrop. Additional mineralization exists proximally to Khavtsal on the margin of the same basin to the South, at the Ulaan Nuur showing and to the South West at the Choire deposit. Bluerock Resources feels that the real potential lies to the south and north of the historic showing Ulaan Nuur showing, where thicker basinal sequences could host a uranium resource.

Southwest of the Khavtsal, in South Central Mongolia, preliminary work at the Central Gobi Project defined several uranium anomalies in basinal setting and reported grab samples with grades of up to 0.23%U in grab samples.

The East Gobi/Tamtsag Project comprises two (2) exploration licenses in Eastern Mongolia. The Western property contains uraniferous source rocks as well as anomalous uranium values in water sampling within the basin. Bluerock has uncovered reports of anomalous uranium in oil wells on the eastern Tamtsag project. The exploration team is working to access the oil and gas data before designing exploration projects on these properties.

Bluerock Resources Ltd. is planning a seismic survey on the Ulan Nuur Basin in the First Quarter of 2007. Once completed, the results of the seismic and 2006 exploration programs will be compiled and, an aggressive drilling and trenching campaign designed.
Reconnaissance level exploration work will also take place in 2007 on the remaining three licenses that were not explored in the 2006 season.

Under the terms of the agreement with Uranerz Energy Corp., Bluerock Resources Ltd. has the option to earn a 70% interest in these projects Upon completion of a feasibility study, Uranerz Energy Corporation retains the right to buy back 21% of the 70% by making payments for defined measured and inferred resources.

See Bluerock's News Release of September 12, 2006 for complete details on the Bluerock -- Uranerz Option Agreement.

Cone Mountain Uranium Project, Colorado USA

Option agreement to purchase 100% interest in the Cone Mountain Uranium project.

The project is located in the Uravan Uranium Mineral Belt near the historic October Uranium Mine and the Energy Fuel's Whirlwind Uranium Mine. The Cone Mountain uranium project was developed by Atlas Mineral Corp. (Atlas) in the early 1980's but was not put into production due to unfavourable uranium prices at that time.

The Company has obtained historical data* from the project which describes seven discrete blocks of mineralization with grades from 0.17% U3O8 to 1.49% U3O8 and an average grade of 0.80% U3O8, (or 16 pounds of U3O8 per ton) over a thickness 1.6 feet (0.5m). Ore intervals correlate well between holes and with an average distance of 50 feet (15m), demonstrate continuity. An historic* 1982 Atlas "Mine Development Plan" indicates that exploitation of all seven mineralized zones would require less than 1480 feet (450m) of underground development which could be completed rapidly once a positive production decision can be made. The fact that Atlas intended to develop the Cone Mountain uranium deposit in the face of falling uranium prices in the early 1980's speaks to the high value Atlas placed on the uranium deposit.

*The historical work was conducted by Atlas Minerals Corp, a major integrated uranium company in the 1970's and 1980's, the reliability of this data is unknown but considered reasonable by Company management. This historical data is non-N.I. 43-101 compliant and should not be relied upon. It is the Company's intention to verify this historical data. Confirmation work may produce results that differ substantially from the historic results.

The Company intends to move quickly to permit and execute a due diligence drilling program and subsequent bulk sample program to define the economics for development of this uranium project. A total of 61 drill holes have been recorded by Atlas to May 1982. The bulk of the defined uranium mineralization is located in the "Blocks 3 and 6" which remain open to expansion on strike. The other five blocks are significantly under-drilled and also present strong targets for the development of uranium resources. On the successful closure of due diligence, the Company intends to move quickly towards a production decision by extending the drilling program to expand on known areas of mineralization and conduct a bulk sampling program.

Highlights of historic* drill intersections include:

-----------------------------------------
Mineral   Drill     Thickness    Grade
Block     Hole  #    ft, (m)     eU3O8 %
-----------------------------------------
Block 1   BL-1      1.5, (0.4)    0.52
Block 2   BL-2      2.0, (0.6)    1.32
Block 3   BL-3 1    1.0, (0.3)    1.40
Block 3   BL-3 2    1.0, (0.3)    0.63
Block 3   BL-3 3    1.5, (0.4)    1.41
Block 3   BL-3 4    1.5, (0.4)    0.49
Block 3   BL-3 5    1.0, (0.3)    0.66
Block 4   BL-4      1.5, (0.4)    0.41
Block 5   BL-5 1    2.0, (0.6)    0.97
Block 5   BL-5 2    1.5, (0.4)    1.49
Block 6   BL-6 1    2.0, (0.6)    0.32
Block 6   BL-6 2    2.0, (0.6)    0.48
Block 6   BL-6 3    1.5, (0.4)    0.30
Block 6   BL-6 4a   1.0, (0.3)    0.17
Block 6   BL-6 4b   2.5, (0.7)    0.54
Block 6   BL-6 5    1.0, (0.3)    0.56
Block 6   BL-6 6    1.0, (0.3)    0.58
Block 7   BL-7 1    1.5, (0.4)    1.23
          Average   1.6, (0.4)    0.80
-----------------------------------------

President Michael Collins commented: "The Cone Mountain uranium project is an excellent example of the Company's objective of adding significant shareholder value by acquiring advanced uranium projects with solid economics, the potential to be developed rapidly and that have real potential for adding minable uranium resources. Bluerock expects that the Cone Mountain uranium project will add pounds to our uranium resource base and will form an integral part of our mine production strategy as we move forward to become a uranium producer under a toll milling scenario."

Under the terms of the agreement (which is subject to regulatory approval), the Company can purchase a 100% interest in the Cone Mountain Uranium Project by:

• Paying US$100,000 as a down payment on the project, refundable under certain conditions of a due diligence process;

• Pay US$300,000 and issue 100,000 Shares on closing due diligence, but in no event prior to April 21, 2008; and

• Paying US$450,000 and issue 200,000 Shares within five business days following the earlier of the commencement of commercial production from any part of the Property, or, two years from the date Bluerock provides notice to the Vendors that it is satisfied with its due diligence review.

Paul D. Gray, P.Geo. is the Qualified Person with respect to the Cone Mountain Project.

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