Bolero Announces Results of Annual and Special Meeting, Effective Date of Name Change, Extension of Warrants and Proposed Pri...

Bolero Resources Corp. (the "Company") (TSX VENTURE:BRU), (FRANKFURT:U7N1)
announces that the Annual and Special Meeting of the Company (the "Meeting") was
held on September 17, 2012 at 10:00 am. The shareholders approved all
resolutions set forth in the notice of Meeting. Specifically, R. Bruce Duncan,
Greg Lipton and Bruce D. Coventry were elected as directors of the Company and
McGovern, Hurley, Cunningham, LLP were re-appointed as auditors. All special
items of business including modifications to the Company's stock option plan,
the granting of common shares to a senior officer and various consultants of the
Company and the proposal to change the name of the Company to "Canada Carbon
Inc." were also approved, as detailed below. 


Amendments to Stock Option Plan

At the Meeting, disinterested shareholders approved amendments to the stock
option plan (the "Plan"). Specifically, disinterested shareholders approved an
increase in the number of common shares of the Company ("Common Shares") that
may be issued annually under the Plan from 4,600,000 Common Shares to 7,920,900
Common Shares. The TSX Venture Exchange (the "Exchange") has approved the
amendments to the Plan.


Granting of Common Shares to Senior Officers and Consultants

At the Meeting, disinterested shareholders approved the granting of a total of
2,500,000 Common Shares to Paul Ogilvie, the Chief Executive Officer of the
Corporation (the "Ogilvie Shares"). In addition, disinterested shareholders
approved the granting of 500,000 Common Shares to each of six consultants of the
Company for a total of 3,000,000 Common Shares (the "Consultant Shares", and
together with the Ogilvie Shares, the "Inducement Shares"). The Exchange has
approved the issuance of the Inducement Shares to Mr. Ogilvie and the
Consultants. The Inducement Shares are subject to a four month and one day hold
period expiring on January 18, 2013.


Name Change and Symbol Change

At the Meeting, shareholders also approved a special resolution to change the
name of the Company from "Bolero Resources Corp." to "Canada Carbon Inc." (the
"Name Change"). The Company is pleased to announce that it has filed articles of
amendment with the applicable corporate registries affecting the Name Change.
Effective on Friday, October 5, 2012, the Common Shares will commence trading on
the Exchange under the name Canada Carbon Inc., and symbol "CCB".


Proposed Private Placement

The Company also announces its intention to complete a non-brokered private
placement (the "Private Placement") of up to an aggregate of 12,000,000 units
("Units") at $0.10 per Unit for gross proceeds of up to $1,200,000.00. Each Unit
will consist of one Common Share and one Common Share purchase warrant
("Warrant"). Each Warrant will entitle the subscriber to acquire one additional
Common Share of the Company for a period of two years from closing at $0.20 per
Common Share.


The Private Placement is subject to certain customary conditions, including, but
not limited to, the execution of definitive subscription agreements with
subscribers, and the receipt of all necessary regulatory approvals, including
the approval of the Exchange. Closing of the Private Placement is anticipated to
occur in one or more tranches, with the first tranche anticipated to close on or
about October 5, 2012. All securities issued in connection with the Private
Placement will be subject to a statutory hold period of four months plus one day
from the date of completion of the Private Placement, in accordance with
applicable securities legislation.


It is currently anticipated that certain insiders of the Company will be
participating for greater than 25% of the Private Placement. The net proceeds
from the Private Placement will be used to complete the acquisition of mining
claims from Uragold Bay Resources Inc. and for general working capital. 


Extension of Warrant Term

The Company also announces that it has applied for Exchange approval to extend
the expiry date of 4,000,000 common share purchase warrants initially issued by
the Company on October 5, 2010. Such warrants are exercisable at $0.30 per
share. The Company is seeking the extension of the expiry date of such warrants
for an additional two year period. All other terms of the warrants would remain
the same. 


ABOUT BOLERO RESOURCES CORP. (TSX VENTURE:BRU) 

Bolero Resources is a junior natural resource company focused on the acquisition
and development of graphite properties throughout Canada. Bolero holds a 100%
interest in 38 mineral claims located in Maria Township, 17 kilometres south of
the community of Bissett Creek on the Trans Canada Highway between the cities of
Ottawa and North Bay, Ontario. These claims cover an area of approximately 2,000
hectares (4,940 acres) that surround and are contiguous to Northern Graphite's
Bissett Creek graphite deposit. Northern Graphite recently reported the
extraction of very large high purity flake graphite consistent across the entire
resource with overall recovery rates of 97%. (NGC.V News Release 23/04/2012)


Throughout 2012 Bolero has been focusing on its primary goals of building and
strengthening its core operations in mineral exploration and development by
acquiring and developing quality-mining projects to ultimately increase
shareholder value.


On behalf of the Board of Directors

R. Bruce Duncan, Executive Chairman

FORWARD LOOKING STATEMENTS: This news release contains forward-looking
statements, which relate to future events or future performance and reflect
management's current expectations and assumptions. Such forward-looking
statements reflect management's current beliefs and are based on assumptions
made by and information currently available to the Company. Investors are
cautioned that these forward looking statements are neither promises nor
guarantees, and are subject to risks and uncertainties that may cause future
results to differ materially from those expected. These forward-looking
statements are made as of the date hereof and, except as required under
applicable securities legislation, the Company does not assume any obligation to
update or revise them to reflect new events or circumstances.


All of the forward-looking statements made in this press release are qualified
by these cautionary statements and by those made in our filings with SEDAR in
Canada (available at www.sedar.com).