BE Resources Initiates Negotiations to Acquire Interests in Two Hard Rock Uranium (HRU) Licenses

BE Resources Inc. (TSX VENTURE:BER) ("BER" or the "Company") announced that it
has initiated negotiations with Continental Precious Minerals Inc.
("Continental") to acquire an interest in two of Continental's HRU uranium
licenses, namely Lill-juthattan and Nojdfjallet.


The Lill-juthattan uranium resource is located approximately 600 kilometres
northwest of Stockholm at an elevation of about 700 metres above sea level, in
an area close to the Norwegian border.


The Lill-juthattan licence is an advanced stage exploration prospect with
gridded, resource definition drilling having been carried out in the late 1970's
and early 1980's by the SGU and associated state companies. Uranium
mineralization occurs in the form of pitchblende disseminated in granite, and
occasionally up to 5 millimetre joint filling in a breccia / fault zone. A
technical report on the Lill-juthattan property titled Technical Report on the
Lill-juthatten Property, Jamtland, Sweden For Continental Precious Minerals
Inc., by G.A. Harron & Associates Inc., prepared by Messrs. G.A. Harron, E.
Puritch and M. Cote, was filed on March 31 2011 on www.sedar.com under
Continental's company profile. The technical report summarizes the
Lill-juthattan resource as follows: 




Lill-Juthatten Mineral Resources at a 0.035% U Cut-Off Grade                
                                                                            
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                          Lill-Juthatten Resources                          
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                                     Indicated                      Inferred
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tonnes                                 855,000                        67,000
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U3O8(%)                                  0.237                         0.204
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U3O8(lbs/ton)                             4.74                          4.08
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Lbs U3O8                             4,470,000                       300,000
----------------------------------------------------------------------------



The Nojdfjallet property is located on the northern flanks of a hill of the same
name and covers an area of 70.00 hectares or 0.70 km2. A NI 43-101 technical
report on Nojdfjallet commissioned by Continental in 2005 states Nojdfjallet
contains over 1 million lbs U3O8 at a 0.02% cutoff. This technical report,
titled "Introductory Technical Report On Eight Uranium Properties in Northern
Sweden" was prepared by Andrew H. Phillips, M.Sc., FIMMM, C.Eng. of Telluride &
Associates, and dated 15th July, 2005 was filed on August3, 2005 under
Continental's company profile on www.sedar.com.


Should BER choose to proceed with either acquisition, a NI 43-101 qualified
person would be commissioned to provide an updated technical report if required.



The Nojdfjallet and Lill-juthatten uranium deposits fall within the Krokoms
Commune in the county of Jamtland, close to the Norwegian border. The
Lill-juthatten license is 4.4 km south of the border, while the Nojdfjallet
license is 5.5 km south of the border.


Both parties intend to negotiate terms of a letter of intent ("LOI") to be
executed as soon as possible. Should the parties enter into an LOI, the proposed
transaction remains subject to, among other things, completion of satisfactory
due diligence, the execution of a definitive agreement, and board of directors,
regulatory and exchange approval.


Further updates regarding this proposed transaction will be made as additional
information become available. 


Cautionary Statement

Certain statements contained herein constitute "forward-looking statements".
Forward-looking statements look into the future and provide an opinion as to the
effect of certain events and trends on the business. Forward-looking statements
may include words such as "should", "likely", "would", "expectation", "targets",
"potential", "developing" and similar expressions. In addition, information
concerning the interpretation of drilling and survey results and of geology may
be considered forward-looking statements, as such information constitutes a
prediction of what mineralization might be found to be present if and when a
project is actually developed. These forward-looking statements are based on
current expectations and entail various risks and uncertainties. Factors that
could cause results or events to differ materially from current expectations
expressed or implied by the forward-looking statements, include, but are not
limited to, the availability of sufficient financing to fund planned or further
required work in a timely manner and on acceptable terms; changes in project
parameters as plans continue to be refined and other risks. Actual results may
materially differ from expectations, if known and unknown risks or uncertainties
affect our business, or if our estimates or assumptions prove inaccurate.
Readers are cautioned not to place undue reliance on the forward-looking
statements contained in this press release. Except as required by law, BER
assumes no obligation to update or revise any forward-looking statement, whether
as a result of new information, future events or any other reason.