NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES.

Bluestone Resources Inc. (TSX VENTURE:BSR) (the "Company" or "Bluestone") today
announced the closing of the non-brokered private placement financing previously
announced on January 11 and February 16, 2012. The Company sold an aggregate of
5.2 million units at a price of $0.15 per unit for gross proceeds of CDN
$780,000.


As previously disclosed, each unit consisted of one common share and one common
share purchase warrant. Each common share purchase warrant is exercisable into
one common share for a period of five years from closing at a price of $0.20 per
share, subject to the Company's right to accelerate the exercise of the warrants
if the daily volume weighted average trading price of the common shares of the
Company on the TSX Venture Exchange is equal to or exceeds $0.50 for a period of
10 consecutive trading days during the term of the warrant, commencing four
months after the date the warrants are issued.


All securities issued in the private placement are subject to a four-month hold
period from the closing of the private placement expiring on June 22, 2012. The
subscribers have also agreed to not trade any of the securities issued pursuant
to the offering prior to the first anniversary of the closing of the private
placement without the Company's consent. The Company intends to use the proceeds
of the private placement to advance Bluestone's exploration properties and for
general working capital purposes.


About Bluestone Resources Inc.: 

Bluestone Resources Inc. is a Canadian exploration company focused on the
discovery and development of economic mineral deposits. Founded in 2004, the
Company has assembled one of the most qualified technical teams in worldwide
exploration. Bluestone Resources Inc. is a member of the Aurora Resource Group
of companies, for more information on the group visit www.auroraresource.com.


On behalf of the Board

Bluestone Resources Inc.

Bruce Counts, P. Geoph., President & CEO 

This press release includes "forward-looking information" including statements
regarding the private placement that are subject to a number of assumptions,
risks and uncertainties, many of which are beyond the control of the Company.
Statements regarding future fund raising and capital expenditures are subject to
all of the risks and uncertainties normally incident with the raising of capital
including, but are not limited to, financing risks and risk of regulatory
change. Investors are cautioned that any such statements are not guarantees of
future events and that actual events or developments may differ materially from
those projected in the forward-looking information. Such forward-looking
information represents management's best judgment based on information currently
available. The Company does not assume the obligation to update any
forward-looking information, except as required by applicable law.
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