Bell Resources Corporation

COMPANY DATA | INTRODUCTION |  PROJECTS IN HAND |  MANAGEMENT
NEWS UPDATE | CHINESE

COMPANY DATA

INTRODUCTION

Bell Resources Corporation is focused on base metal exploration, development and production opportunities in North America. The current assets range from early stage to advanced stage exploration including the past producing Granduc Mine. The management team will utilize the personnel, assets and creativity in its focus of working toward commercial production of copper and associated precious metal credits.

PROJECTS IN HAND

Bell Resources is focused on exploration and development of base metal projects toward production. The allocation of organizational and individual resources is focused on no more than five projects to ensure maximum performance from the assets available.

(1) Granduc Project - B.C. - Cu

Bell Resources is unlocking the enormous potential of the Granduc through continued development. Significant remaining high grade copper resources in the historically productive Granduc deposit are the basis from which Bell intends to grow a compellingly large mineral inventory ahead of mine startup. A target size of 50 million tonnes of ore grading 2% copper plus credits is a standard against which Bell can measure its exploration success at Granduc.

A five-hole diamond drilling program completed in the fourth quarter of 2005 demonstrated the southward continuity of high grade copper with substantial Ag, Au, and Co credits extending beyond the known Granduc Mine resource. Similar opportunities to expand the existing district resources are known in other parts of Bell's Granduc property identified through historic exploration efforts and Bell's 2005 aeromagnetic/EM survey.

A program of re-assaying for Ag, Au, and Co in historic core samples will begin early in the first quarter of 2006. In the late second quarter of 2006, Bell will initiate an extensive diamond drilling campaign to cut 4,500 metres of core in the South Zone, North Zone, and one wildcat geophysical target.

(2) Sombrero Butte Project - Arizona - Cu

Two of Bell's promising prospects are in the snow free Arizona desert, the heart of one of the world's premier copper-producing regions. At the Sombrero Butte project in southern Arizona, Bell is targeting a cluster of copper-bearing breccia pipes and a porphyry copper system that is suspected to underlie these breccias.

The property was last worked during the period 1915 - 1920 and it has languished to the present day due to a dispute with an adjoining mining company, which has since been resolved. In 2003, John and Fred Rothermel of Silver Nickel Mining Company purchased two patented claims and staked an additional 15 claims surrounding the patents. Then they brought their package to Bell.

In the first quarter of 2006, Bell intends to drill approximately 10 holes totalling 5,000 feet on outcropping high grade breccia pipes.

(3) Kabba Project - Arizona - Cu

In 2005, Bell assembled a large land position on federal, state, and railroad lands in northwestern Arizona at its Kabba project. On the Kabba property there are multiple opportunities for large porphyry copper-molybdenum systems, carrying grades 0.4 to 1.5% Cu-equivalent. Bell flew a detailed aeromagnetic survey in the fourth quarter of 2005, validating the tilted-block structural model at Kabba and outlining five deep-seated magnetic lows that potentially represent the sought-after porphyries.

Bell plans to start the first quarter of 2006 by completing 21 line miles of IP surveying across the magnetic lows. Once electrically chargeable, sulfide-bearing targets are identified, a drilling program will be initiated to cut 15,000 feet in 5 to 10 rotary and core holes to test the IP anomalies.

(4) A-Train Project - Michigan - Ni / Cu / PGE

At the A-Train property in northern Michigan, an ultramafic hornblendite intrusion hosts outcropping Cu-Ni-PGE mineralization. Ultramafic intrusions at the nearby Rio Tinto Eagle and North American Palladium Lac des Iles deposits host ores valued at hundreds of dollars per tonne, and thorough exploration of Bell's A-Train property may reveal similar deposits.

A comprehensive aeromagnetic/EM survey of the A-Train property in the third quarter of 2005 showed a large, strong magnetic high under surficial cover and a small magnetic high associated with outcropping Cu-Ni-PGE mineralization. Permits to drill these two magnetic targets were obtained from the State of Michigan late in 2005, but the short remaining field season prevented a drilling program. In the early third quarter of 2006 Bell will be drilling 5,000 feet of core in eight holes targeting two magnetic anomalies. Multiple other mid-sized magnetic highs will be the focus of follow up examination this field season.

(5) Fox River Project - Manitoba - Ni / Cu

The Fox River area, near Hudson Bay, has been the scene of intensive exploration by both major and junior companies. Results from these various programs have led geologists to conclude that the area could well host a major ultramafic sulphide nickel-copper deposit.

In recognition of this fact, the Joint Venture (Bell Resources and Callinan Mines Limited (the operator)) in 2005 acquired an additional mining exploration license covering 17,233 hectares, bringing the Joint Venture's total Fox River holdings to 101,145 hectares - or almost a quarter-million acres. A review of assessment reports filed by the previous operators and obtained through the Manitoba Dept. of Mines identified geophysical conductors located by horizontal loop survey that have not been tested by drilling. Additionally, three nickel-copper-cobalt anomalies were located by a Mobile Metal Ion (MMI) geochemical survey. No assays were carried out for platinum.

During the first quarter of 2006 the Joint Venture will conduct a Pulse Electromagnetic Survey over these three anomalous targets. Diamond drilling will follow, utilizing a drill rig that had been stored near the site following the 2004-05 winter program.

The newly acquired ground represents significant potential. The information from the assessment files has enabled the JV to design a fast-paced and efficient exploration and drilling program.

MANAGEMENT

Bell Resources Corporation has a well management team with experience in different areas.

W. Glen Zinn, B.Sc., President & C.E.O., Director
Mr. Zinn is a senior mining executive with 35 years in senior management, corporate development, strategic planning and exploration and development in the natural resource industry. Formerly VP Corporate Development and Exploration of Hecla Mining Company, Mr. Zinn has a proven track record in financing, operating and managing exploration companies and companies that are in production. Having graduated from the Michigan College of Mining Technology with a degree in geological engineering and having completed executive management programs in corporate finance, corporate development and strategic planning at MIT and Stanford University Graduate School, Mr. Zinn brings a unique set of skills to Bell Resources.

Timothy Marsh, Ph.D., P.Eng., Vice President of Exploration
Dr. Marsh brings 20 years of exceptional industry experience to the Company. Dr. Marsh left his position as Chief Geologist of Resolution Copper Company (a Rio Tinto company) where he played a principal role in the planning and initiation of a multi-year, deep exploration drilling project on the large, high grade, Resolution porphyry copper deposit in Arizona. Dr. Marsh worked for Kennecott Minerals Company on the Cortez Joint Venture in Nevada, where recent and past production comprises more than 30 million ounces of gold. He was also with AMT International where he was the Manager of Exploration and Geology and was responsible for resource discovery at Copper Creek, Arizona. Dr. Marsh's degrees include a B.Sc. in Geological Engineering from Colorado School of Mines, and a Doctorate of Philosophy in "Ore Deposits and Exploration" from Stanford University. Dr. Marsh is also a registered Professional Engineer in the State of Arizona.

Brian Leeners, C.F.O., Director
Mr. Leeners received both his B.Comm. degree and LL.B. degree from the University of British Columbia in 1992. Mr. Leeners has worked with multiple venture companies developing corporate strategic planning and implementation. Mr. Leeners is a Director or Advisor to several public and private corporations and organizations.

Gordon Fretwell, B.Comm., LL.B., Director
Mr. Fretwell graduated from the University of British Columbia in 1979 with his Bachelor of Laws degree. Since that time, Mr. Fretwell has been a practicing solicitor in the City of Vancouver, primarily in areas of resource and securities law. In addition, Mr. Fretwell is a Director or Officer of various publicly traded companies including Pure Valley Mining Corporation, Northern Dynasty Minerals Ltd., International Royalty Corp., Keegan Resources Corp., Continental Minerals Corp. and Benton Resources Corp.

Tracy Hansen, Director
Ms. Hansen has been a securities legal assistant since 1997. She has been a director of Bell Resources Corporation since June 2002 and has been the corporate secretary of Icon Industries Limited since July 2000. Ms. Hansen has been involved in the following publicly trade companies: Grandcru Resources Corp. (Director - January 2003 to July 2004), Ialta Industries Ltd. (Corporate Secretary - April 1999 to September 2001).

Pamela J. White, Corporate Secretary
Ms. White is a securities legal assistant and has been involved in the resource and securities industry since 1987.

NEWS UPDATE

On February 23, 2007 The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced February 06 2007

On February 14, 2007 Bell Resources Corp. released further assays from the company's continuing phase 1 drill program on the Sombrero Butte project, located in the Copper Creek district in Pinal county, Arizona. Highlights: drill hole SB-07 intersected 9.56 metres of 5.57 per cent copper, and drill hole SB-06 exhibited signs of a possible underlying porphyry system.

On February 13, 2007 Bell Resources Corp. and its joint venture partner Callinan Mines Ltd. have commenced drilling on their Fox River property in Northern Manitoba. Crews will test numerous coincidental magnetic and electromagnetic anomalies for the presence of metal-bearing massive sulphide structures. The drill program will continue as long as ground conditions remain stable. The Fox River property is being operated under a joint venture agreement with Bell Resources.

On February 06, 2007 Bell Resources Corp. will be conducting a non-brokered private placement of 200,00 common shares at a price of 80 cents per share to raise gross proceeds of $160,000. The proceeds of the private placement will be used for continuing exploration programs on the company's mineral properties and for genral working capital purposes.

On February 06, 2007 Callinan Mines Ltd. and joint venture partner Bell Resources Corp. will drill significant targets located by a now-completed airborne geophysical survey of its Fox River nickel-copper project near Gillam, Man. 

On January 30, 2007 Bell Resources Corp. has provided drill core assays from the phase IIB drill program targeting the JK zone on its Granduc project northwest of Stewart, B.C. The JK zone represents the northerly strike continuation of the Granduc system. Three distinct, parallel mineralized intervals were demonstrated by the drilling, each containing banded magnetic-chalcopyrite plus or minus pyrite-pyrrhotite iron formation typical of the Granduc mine mineralization to the south.

On January 12, 2007, Bell Resources Corp. announced that subject to regulatory approval, the Company has granted 340,000 incentive stock option to certain consultants of the Company, exercisable at a price of 80 cents per share for a period of five years form the date of grant.

On January 11, 2007, Bell Resources Corp. announced that the Company's board of directors has approved the adoption of a shareholder rights plan agreement.

On January 10, 2007, Bell Resources Corp. announced that its continuing airborne versatile time domain electromagnetic (VTEM) survey being performed by Geotech Airborne Services at the Fox River project has identified four additional geophysical anomalies in the area for upcoming drilling at Fox River. The joint venture partner Callinan Mines Ltd. is the operator for the project.

On December 29, 2006, Bell Resources Corp. announced that further to the news in Stockwatch of Dec. 12, 2006 and Dec. 22, 2006, has completed its non-brokered private placement offering of 296,875 flow-through shares at a price of 80 cents per flow-through share to raise gross proceeds of $237,500.

On December 28, 2006, Bell Resources Corp. announced that the TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced in Stockwatch on Dec. 12, 2006 and Dec. 22, 2006. Shares: 296,875 flow-through shares.

On December 22, 2006, Bell Resources Corp. announced that it has completed its non-brokered private placement offering with MTax 2006 (No.2) Mineral LP, announced in Stockwatch on Nov. 24, 2006, at a total of 625,000 flow-through common shares at a price of 80 cents per share to raise total gross proceeds of $500,000.

On December 12, 2006 Bell Resources Corp. will be conducting a non-brokered private placement of up to 281,250 flow-through shares at a price of 80 cents per flow-through share to raise gross proceeds of up to 225,000. The proceeds of the private placement will be used for continuing exploration programs on the company’s Granduc property.

On December 08, 2006 Bell Resources Corp. has received additional assays from the phase 1 drill program on its Somnrero Butte project, located in the Copper Creek district, Pinal county, Arizona. These results extend a previously reported intersection through the Campstool breccia in drill hole SB-03 and include a new copper intersection from drill hole SB-05, which cut part of the Sunset's breccia.

At least four more undrilled breccia pipes are present within within 100 m of the current drill pad. These breccias will be tested along with the nearby Victors and Saguaro breccia pipes in the drilling campaign. This drilling is expected to extend at minimum into the first quarter of 2007.

On December 06, 2006 In connection with its private placement which closed on December 30, 2005, Bell Resources Corp.'s two million warrants, issued in connection with the private placement, have today been exercised at 55 cents for proceeds of $1.1 million, These warrants were held by a single institution and the proceeds have been added to the company's working capital.

On November 14, 2006 Bell Resources Corp. and joint venture partner Callinan Mines Ltd. have begun this winter's work program on the Fox River joint venture east of Gillan in Northern Manitoba.

Highlights:

- winter road and prospective drill pads under construction;
- 20-hole drill program planned on multiple geophysical targets; and 
- camp construction to follow site preparation

On November 09, 2006 Bell Resources Corp. provided the partial drill core assays from the phrase 1 drill program on its Sombrero Butte project, located in the Copper Creek district, Pinal county, Arizona. Highlights:

- Extensive copper intersections include 48 metres ( 158 feet ) of 1.06 per cent
- Initial drilling has intersected porphyry intrusions in drill hole SB-02
- Based on preliminary results, a second, more extensive program has been approved to immediately follow the phase 1 drill program

On October 25, 2006, Bell Resources Corp. announced that it has completed the phase IIB drilling program on its Granduc project located in B.C. The Company also provided the results of trenching assays from the JK zone. Sample 004-B3 returned 72.5 g/t Ag in 1 m at JK zone.

Highlights:

- JK zone drilling intercepts two parallel zones of mineralization containing magnetite-pyrite-chalcopyrite iron formation;
- Drilling demonstrates that both intercepted zones extend southward along strike onto Crown claims; and
- Trenching assays combined with previous drill assays in the South zone (four kilometers south) demonstrate that mineralization in the Granduc system can vary from copper-rich to locally, silver- and gold-rich.

On October 20, 2006, Bell Resources Corp. announced that it has the property agreement for Outland Silver Bar claims.

On October 19, 2006, Bell Resources Corp. announced its assays for platinum, palladium and gold have been received for three of seven diamond drill holes completed in July at the Company's A-Train project in northern Michigan. Drill hole AT-5 returned 0.215 g/t Pd+Pt+Au over 11.8 metres.

On October 17, 2006, Bell Resources Corp. announced that subject to regulatory approval, has entered into an option agreement with Rick Kasum and Julia Jennie Wang, whereby the Company has the right to earn a 100% interest in the mineral claims referred to as Outland Silver Bar located southeast of the Company's Granduc project in northwestern British Columbia.

The Company also announced that, subject to regulatory approval, it has granted 25,000 incentive stock options to a consultant of the Company, exercisable at a price of 70 cents per share for a period of five years from the date of grant.

On October 12, 2006, Bell Resources Corp. announced that its airborne versatile time domain electromagnetic (VTEM) survey being performed by Geotech Airborne Services at the Fox River project has confirmed the presence of the 07-5 geophysical anomaly. As of Oct. 10, 2006, the survey is approximately 30% complete. Delays have been due to weather conditions in the area.

On October 4, 2006, Bell Resources Corp. announced that it is reviewing its 2006 activities for each of the Company's projects, including Sombrero Butte , Kabba, A-Train, Granduc and Fox River projects.

On September 26, 2006, Bell Resources Corp., further to its news in Stockwatch on September 22, 2006, provided the correct number of warrants exercised. The correct number is 1,928,452 warrants at 30 cents totalling $578,535.

On September 22, 2006, Bell Resources Corp. announced that its warrant holders, in connection with its private placement reported in Stockwatch news Sept. 15, 2005, have exercised all 3,856,905 warrants issued in the private placement. The warrants were exercisable at 30 cents until Sept. 15, 2006.

On September 15, 2006, Bell Resources Corp. reported the agreement for Mexican ground.

On September 8, 2006, Bell Resources Corp. announced that subject to regulatory approval, it has granted 50,000 incentive stock options to a consultant of the Company, exercisable at a price of 80 cents per share for a period of five years from the date of grant.

On September 6, 2006, Bell Resources Corp. announced that it has restarted 2006 drilling operations on its Granduc project northwest of Stewart, B.C. The phase IIB drilling will consist of eight holes over approximately 2,000 metres.

Objectives of the 2006 phase IIB drill program include:

- Drill testing the newly discovered JK zone; and
- Testing the southward continuity of high-grade copper mineralization that was intersected in the phase II drill program earlier this year.

On August 25, 2006, Bell Resources Corp. confirmed that, subject to regulatory approval, it has entered into an option agreement whereby the Company has the right to earn a 100% interest in the mineral claims referred to as Zomelahuacan, Las Minas and Tatatila, located in Veracruz, Mexico.

On August 21, 2006, Bell Resources Corp. announced that it has retained Geotech Airborne Services to perform a comprehensive airborne versatile time domain electromagnetics (VTEM) survey on the Fox River project near Gillam in Northern Manitoba. The survey will comprise approximately 6,000 line km of flight path flown over an area of approximately 167,000 hectares (413,000 acres) and will commence immediately.

On August 17, 2006, Bell Resources Corp. provided the drill core assays from the phase II drill program on its Granduc project northwest of Stewart, B.C. These new assays, taken together with the 2005 phase I drilling results, demonstrate the extension of consistent thickness and grade for at least 770 metres (2,500 feet) along strike to the south and extending at least 200 metres (650 feet) down dip from the historic mining at the Granduc.

On August 15, 2006, Bell Resources Corp. announced that it has commenced the phase I drill program on its Sombrero Butte project in the Copper Creek district, Pinal county, Arizona. The initial phase I drill program will consist of approximately 10 holes totalling 1,500 metres (5,000 feet) targeted on outcropping high-grade breccia pipes.

On August 3, 2006, Bell Resources Corp. announced that it has discovered a new mineralized zone, the JK zone, which was found during the current surface prospecting work in the North zone target area of the Company's Granduc project.

Highlights:

- New discovery is most likely the northerly strike continuation of the same rock unit that hosts the Granduc orebody；
- JK zone is 4 km north of the site of this spring/summer's phase II diamond drilling program in the South zone；
- Host rocks of the JK zone are similar to the rocks in Unit 3v1 of the Granduc mine series, which hosted most of the Granduc ore.

On July 11. 2006, Bell Resources Corp. has completed its phrase I drill program on it's A-Train project in the Upper Peninsula of Michigan. The phase I drill program consisted of seven holes totaling 1,303 metres (4,275 feet ). The first six holes tested the strong, discrete magnetic anomaly that is coincident with outcropping copper-nickel-PGM mineralization within the hornblendite intrusion. This zone is approximately 400 metres (1,200 feet ) long and open-ended. The seventh hole tested the northern end of a long, intense, magnetic anomaly, also within the ultramafic hornblendite intrusion. Logging and sampling of these drill holes have been completed. The company looks forward to receiving assay results for the samples and will issue a release summarizing these results once all assays are completed.

On July 06, 2006, Bell Resources Corp. has completed the phase II drilling program on its Granduc project northwest of Stewart, B.C.. The phase II drilling program consisted of 2,687 metres (8,816 feet) over seven holes and tested the southward continuity of high-grade copper mineralization that was intersected in the company's fall 2005 drill program. The program also tested a magnetic anomaly ( Pollux target ) that was detected in the May 2005, airborne survey.

On July 06, 2006, Bell Resources Corporation announced that it has completed the Phrase II Drilling Program on its Granduc Project northwest of Stewart, British Columbia. The Phase II Drilling Program consisted of 2,687 meters (8,816 feet) over 7 holes and tested the southward continuity of high grade copper mineralization that was intersected in the Company's fall 2005 drill program ( see December 14, 2005 news release ).

The company also reported that by the middle of July, a held crew at the Leduc base camp will conduct surface prospecting work in the North Zone target, approximately 2 kilometers north of the Phrase II Drill Program. It is expected that the camp will be active until the end of September.

On June 13, 2006, Bell Resources Corp. has commenced the phase 1 drill program on it's a-Train project in the Upper Peninsula of Michigan. The initial phase 1 drill program will consist of seven holes totaling approximately 1,200 metres (4,000 feet). The targets for drilling were determined following the acquisition and analysis of data from an airborne pulse electromagnetic (EM) survey flown over the property in September of 2005. The first six holes of the phase 1 drill program at the A-Train project will test the strong, discrete magnetic anomaly that is coincident with outcropping copper-nickel-PGM mineralization within the hornblendite intrusion. This zone is approximately 400 metres (1,200 feet ) long and open ended. The seventh hole will test the northern end of a long, intense magnetic anomaly, also within the ultramafic hornblendite intrusion.

On June 06, 2006, Bell Resources Corp. has acquired an additional 52,037 hectares of minerals exploration licences in the Fox River area of Manitoba, ased on recent geophysical results. This acquisition brings the company's total land package in the area to 167,729 hectares. The ground hosts numerous magnetic and electromagnetic anomalies that represent favorable exploration targets in this highly underexplored area.

On June 01, 2006, Bell Resources Corp.'s geophysical contractor has initiated an induced polarization geophysical survey (the IP survey ) on the company's Kabba project in northwestern Arizona.

Highlights:

- the IP survey is being conducted over the most prominent magnetic low detected during last fall's aeromagnetic survey; and

- the IP survey is designed to detect regions of high chargeability associated with disseminated sulphide minerals related to covered porphyry copper-molybdenum systems.

On May 26, 2006, Bell Resources Corp. subject to regulatory approval has granted a total of 2,925,000 incentive stock options to directors, officers and consultants of the company, exercisable at a price of 80 cents per share for a period of five years from the date of grant.

On January 24, 2006, Bell Resources Corporation provided a Phase One Budget Plan to accompany the Company's recently announced 2006 Work Plan. With each of the following programs, the potential quantity and grade is conceptual in nature and there has been insufficient exploration to define a mineral resource to date, therefore it is uncertain if further exploration will result in discovery of a mineral resource.

Fox River Project - Manitoba - Ni / Cu

During the first quarter of 2006 the Joint Venture will conduct a Pulse Electromagnetic Survey over the three anomalous targets. Diamond drilling will follow, utilizing a drill rig that had been stored near the site following the 2004-05 winter program. This program is budgeted for $225,000 and funds will come from working capital.

Granduc Project - British Columbia - Cu

A program of re-assaying for Ag, Au, and Co in historic core samples will begin early in the first quarter of 2006. This program is budgeted for approximately $50,000. In the late second quarter of 2006, Bell will initiate an extensive diamond drilling campaign to cut 4,500 metres of core in the South Zone, North Zone, and one wildcat geophysical target. These two programs will be funded from working capital.

The following programs will be funded from working capital and future financing:

Sombrero Butte Project - Arizona - Cu

In the first quarter of 2006, Bell intends to drill approximately 10 holes totalling 5,000 feet on outcropping high grade breccia pipes. The program will cost approximately $250,000.

Kabba Project - Arizona - Cu

Bell plans to start the first quarter of 2006 by completing 21 line miles of IP surveying across the magnetic lows. Once electrically chargeable, sulfide-bearing targets are identified, a drilling program will be initiated to cut 15,000 feet in 5 to 10 rotary and core holes to test the IP anomalies. The IP survey is budgeted for approximately $140,000.

A-Train Project - Michigan - Ni / Cu / PGE

In the early third quarter of 2006 Bell will be drilling 5,000 feet of core in eight holes targeting two magnetic anomalies. Multiple other mid-sized magnetic highs will be the focus of follow up examination this field season. This program is budgeted for $250,000.

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