Bluerock Business Update

Bluerock Resources Ltd. (TSX VENTURE:BRD) (the "Company").

NOT FOR DISSEMMINATION IN THE UNITED STATES OR VIA US NEWSWIRE SERVICES

As a result of the continuing negative economic and market conditions, the
Company has been forced to make some difficult business decisions over the past
few months. The Company will be taking advantage of the TSX Venture Exchange's
temporary relief measures in an attempt to restructure its business interests.


Termination of Agreements with Denison

The Company has entered into a Settlement and Release Agreement dated March 11,
2009 with Denison White Mesa LLC (a U.S. subsidiary of Denison Mines Corp.)
("Denison") with respect to its Toll Milling Agreement and Ore Purchase
Agreement (together, the "Agreements") both dated January 1, 2008. Due to
current market conditions, the Company has been unable to fulfill its
obligations under the Agreements. The Company and Denison have mutually agreed
to settle the Company's liability to Denison (to be in excess of USD$500,000
accrued to December 2009) through the issuance of common shares equal to 19.75%
of its issued capital at the time of issuance, at a deemed price of $0.015 per
share.


The settlement is subject to approval of the TSX Venture Exchange.

Special Meeting - Name Change and Consolidation

The Company announces that it will be calling a special meeting of its
shareholders to approve the consolidation of its issued and unissued common
shares on the basis of up to 15 old shares for one new share. In connection with
the share consolidation, the Company will also change its name to "BlueRock
Minerals Ltd." or such other name as management of the Company may determine.


The share consolidation and change of name are subject to acceptance by the TSX
Venture Exchange.


Bluerock Resources intends to continue operating as a mineral exploration
company, building and acquiring significant resources.


ON BEHALF OF THE BOARD OF DIRECTORS

Michael Collins, President and CEO

FORWARD LOOKING INFORMATION DISCLAIMER

Certain of the statements made and information contained herein is
"forward-looking information" within the meaning of the Ontario Securities Act
and the Alberta Securities Act, including statements concerning our plans to
settle debts and consolidate our shares. Each of these activities involve known
and unknown risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the Company to be materially different
from any future results, performance or achievements expressed or implied by
such forward-looking information. Risks include delays in obtaining or failure
to obtain required TSXV or shareholder approvals. There is no assurance the
Company will be able to find or acquire mineral properties of the nature
desired. Accordingly, readers are advised not to place undue reliance on
forward-looking information. Except as required under applicable securities
legislation, the Company undertakes no obligation to publicly update or revise
forward-looking information, whether as a result of new information, future
events or otherwise.

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