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Message: Bluerock Resources Sells United States Subsidiary
| February 19, 2009 |
| Bluerock Resources Sells United States Subsidiary |
| VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 19, 2009) - NOT FOR DISSEMINATION IN THE UNITED STATES OR VIA US NEWSWIRE SERVICES Bluerock Resources Ltd. (TSX VENTURE:BRD) (the "Company") announces the sale of Bluerock Energy Corp. ("BEC") which includes all the Company's United States assets such as mineral claims, mineral claim options, equipment and leases, with the exception of the Toll Milling agreement with Denison Mines (USA) Ltd. and the Skull Creek Project. The Company has sold all the shares of BEC to Mancos Resources Inc., a Colorado company, for the sum of one dollar and assumption of all assets and liabilities. The Company viewed the sale of BEC as a requirement as BEC had reached a point where it was unable to meet it's on-going obligations to creditors, and the optimum solution is for a local, on-site company to manage the liquidation of BEC assets. While the Denison Mines (USA) Ltd., Toll Milling agreement remains in good standing, the sale of BEC may preclude the Company's ability to meet the terms of this agreement. The Company has advised Denison Mines (USA) Ltd. of the situation and is currently in discussion with Denison Mines (USA) Ltd. with respect to the status of this agreement. Bluerock intends to continue operating as an exploration focused company building and acquiring significant mineral resources. ON BEHALF OF THE BOARD OF DIRECTORS Michael Collins, President and CEO |
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