Bearing Resources Ltd.: Option Agreement on KM66 Project, Durango, Mexico Terminates

Bearing Resources Ltd. ("Bearing", or the "Company") (TSX VENTURE:BRZ) wishes to
announce that further to the news releases dated November 28, 2012 and March
14th, 2013, that the Company's agreement with Patriot Minefinders Ltd
("Patriot") (OTCBB:PROF) whereby Patriot could earn up to a 75% interest in the
13,400 hectare Kilometer 66 ("KM66", also known as Mapimi) property located in
Durango, Mexico has terminated. In addition the company has elected to terminate
its underlying option agreement with the Mexican vendors as originally announced
on March 12th 2012.


The Company continues to review all its activities and expenses, an exercise
that began in October 2012, and is streamlining operating costs and obligations
while ensuring that the Company has the right organization structure moving
forward. As of April 30, 2013, the Company has approximately $1.4 million in
cash and cash equivalents, of which $0.2 million are flow-through funds which
will be spent on exploration in British Columbia in 2013. The Company remains
funded to ride out the current downturn in the mineral exploration industry
while maintaining its exploration portfolio. 


In Mexico the Company continues to hold the 100% owned Pedro property in
Durango, Mexico which hosts the newly discovered HP Breccia gold target. In
central British Columbia the company owns a large contiguous land position at
Mount Polley and October Dome and has a production royalty on the Boundary
property, which forms part of Imperial Metals Corporation's Mt. Polley
copper-gold mine. In the Yukon Bearing owns several mineral properties and has
the right to earn a 100% interest in the Flume property in the White Gold
District which is currently held under option by Ryan Gold Corp.


Robert Cameron, P.Geo., President and CEO of Bearing, is a qualified person
within the context of National Instrument 43-101, and has read and takes
responsibility for this news release.


BEARING RESOURCES LTD.

Robert Cameron, President & CEO

This news release includes certain "forward-looking statements" under applicable
Canadian securities legislation. Such forward-looking statements or information,
including but not limited to, those with respect to potential future and
exploration potential of anomalies and properties involve known and unknown
risks, uncertainties, and other factors which may cause the actual results,
performance or achievements of Bearing to be materially different from any
future results, performance or achievements expressed or implied by such
forward-looking statements or information. Such factors include, among others,
the actual prices of commodities, the factual results of current exploration,
development and mining activities, changes in project parameters as plans
continue to be evaluated, as well as those factors disclosed in documents filed
from time to time with the securities regulators in the applicable Provinces of
British Columbia and Alberta. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Bearing Resources Ltd.
Robert Cameron
(604) 682-5546
rcameronr@bearingresources.ca
www.bearingresources.ca

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