OAKVILLE, ONTARIO–(Dec. 19, 2012) – Canada Carbon Inc. (formerly Bolero Resources Corp.) (the “Company’, “Canada Carbon”) (TSX VENTURE:CCB), (FRANKFURT:U7N1) is pleased to announce that it has entered into a term sheet (“Term Sheet”) with 9228-6202 Quebec Inc. (herein “Quebec Inc”) a private Quebec corporation, to acquire certain mining claims in relation to three properties: the Miller, Walker and Dun Raven graphite mines. The transactions contemplated by the Term Sheet require the definitive purchase agreements (herein, the “Agreements”), Canada Carbon board approval and the approval of the TSX Venture Exchange.

Canada Carbon’s CEO, Paul Ogilvie commented, “Acquiring the Miller Lump/Vein Property is an opportunity to assess the potential for production on a Lump/Vein property outside of Sri Lanka. We feel the other two properties, Dun Raven and Walker will be great material feeder properties to our Asbury Project”.

The Miller Mine is a past producer of graphite located 70km west of Montreal. This mine may have been the first graphite operation in Canada. It was worked around 1845 to at least 1900 when it was reported that a twenty-five car trainload of lump graphite was shipped from the deposit. The property consists of nine claims covering 5.4km² including the past mine and similar geology around the original deposit, with road access and power nearby. The mineralization at the mine site consists of five veins of varying widths with unknown direction or depth. The quantity and grade is unknown but such veins usually consist of high grade mineralization ranging from 30 to 90% graphite. Vein graphite is the most valued natural form of graphite, and is currently only mined in Sri Lanka. There is no certainty that further exploration will result in the development of similar deposits. As consideration for the transfer and sale of the Miller Claims and related assets, the Company will at the closing make a cash payment of $50,000 CDN and issue 1,000,000 common shares to Quebec Inc. A further tranche of 1,000,000 shares will be issued under a performance schedule that both parties will work through and will complete on or before closing. The performance is based on milestones of grade, quality and feasibility. In addition, the Company shall pay to Quebec Inc a 2% NSR Royalty, to be defined in the definitive Agreement.

The Walker Mine is a past producer of graphite located 30 km northeast of Ottawa. The property consists of four claims covering the past mine and eleven claims covering interesting geological formations with potential graphite mineralization around the original deposit. More than thirty pits have been reported on the past producing property. Massive graphite veins have been found at the Walker Mine. As consideration for the transfer and sale of the Walker Claims and related assets, the Company will at closing make a cash payment of $50,000 CND and issue 1,500,000 shares to Quebec Inc. A further tranche of 1,000,000 shares shall be issued under a performance schedule that both parties shall work through and will complete on or before closing. The performance is based on milestones of grade, quality and feasibility. In addition the Company shall pay to Quebec Inc a 2% NSR Royalty, to be defined in the definitive Agreement.

The Dun Raven is a graphite deposit located near Shawville, QC, about 80km west of Ottawa. A geophysical anomaly exists of which only about 15% has been drilled. A historic resource was calculated to contain 571,532 tons of ore grading 4.72% graphite, based on the drill assays. The package consists of fifteen claims, one of which includes almost the entire anomaly. As consideration for the transfer and sale of the Dun Raven Claims and related assets, the Company will at closing shall make a cash payment of $10,000 CDN and will issue 250,000 shares to Quebec Inc. A further tranche of 250,000 shares will be issued under a performance schedule that both parties will work through and will complete on or before closing. The performance is based on milestones of grade, quality and feasibility. In addition the Company shall pay to Quebec Inc a 2% NPR Royalty, to be defined in the definitive Agreement.

A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves; and Canada Carbon is not treating the historical estimate as current mineral resources or mineral reserves.

ABOUT CANADA CARBON INC. (TSX VENTURE:CCB)

Canada Carbon is a carbon sciences company – our goal is to be an efficient graphite mining and production company. We are trying to achieve this by deploying proprietary technologies in our post mining and pre-milling air classification systems, sound environmental policies, best practices companywide and employing the best people available to us. Together, our goals will be realized by being customer centric and using leading edge technologies.

Canada Carbon holds 100% interest in two graphite properties, The Asbury and The Maria Graphite Projects. The Asbury Mine, a past producing Asbury Graphite Mine property consists of two claims and is located approximately 10km northeast of Notre-Dame-du-Laus and about 120km north of the Ottawa-Gatineau area. The open pit mine and mill were in operation from 1980 to 1989 where a total of less than 70,000 tons were processed. The Maria Graphite Project consists of 38 mineral claims located in Maria Township, 17km 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).

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).

OAKVILLE, ONTARIO–(Dec. 4, 2012) – Canada Carbon Inc. (formerly Bolero Resources Corp.) (the “Company” or “Canada Carbon”) (TSX VENTURE:CCB), (FRANKFURT:U7N1) is pleased to announce that it has closed the previously announced agreement to acquire 100% of the Asbury mining claims (“Claims”) from Uragold Bay Resources Inc. (“Uragold” or “UBR”).

Pursuant to the terms of the mining claims purchase & transfer agreement (“Agreement”) dated August 29^th, 2012 (as amended by amending agreement dated October 11, 2012), Canada Carbon made an initial contribution of $30,000 CDN to UBR and a second cash payment of $70,000 CDN. Upon closing of the transaction today, Canada Carbon has made a further payment of $200,000 CDN and will pay a yearly royalty of 0.75% on the net production cost for a period of 10 years after the start of graphite production. As further consideration for the transfer and sale of the Claims and related assets, Canada Carbon issued to Uragold 5,000,000 common shares (“Common Shares”), representing approximately 8.7% of Canada Carbon’s issued shares.

Stephen Riddle, CEO of Asbury Graphite Mills Inc., a widely regarded expert in the graphite and carbon industry commented: “The Asbury mine contains very high quality natural flake graphite that is easy to process to 95% purity and has a high percentage of large flakes. We look forward to seeing it up and operating again.”

Canada Carbon’s CEO, Paul Ogilvie commented: “We are very excited to have completed this highly strategic asset and continue to move ahead to re-open the former producing mine. We consider the Asbury mine to be one of the best projects in the country, high grade, top quality, and geographically desirable.”

The Company plans to move as quickly as possible to have the mine up and running within 12 to 14 months. By air classifying before milling, the Company hopes to achieve a pre mill grade of 70%. This will allow the material to be trucked to a milling location off the mine site. This advantage is no need for tailing ponds, significantly smaller mill, and simpler permitting.

At this point a feasibility study has not been completed and there is no certainty the proposed operation will be economically viable.

On closing of the transactions contemplated by the Agreement, UBR entered into a voting support and standstill agreement (the “Voting Agreement“) whereby UBR agreed, among other things, (i) not to vote (or cause to be voted) the Common Shares against any resolution to approve the election of Canada Carbon’s management nominees and any resolutions put forward by such nominees until December 3, 2014, (ii) to sell all or any part of the Common Shares over certain thresholds including pursuant to private off-market transactions or specified amounts if such sales occur through the facilities of any stock exchange until December 3, 2015, (iii) not to sell, transfer, gift, assign pledge, hypothecate the Common Shares for a three year period without the prior written consent of Canada Carbon (other than as permitted in the Voting Agreement), (iv) not to grant (or agree to grant) any proxy or other voting right for a three year period to any of the Common Shares, and (v) not to acquire, directly or indirectly or through an affiliate, any Canada Carbon common shares until December 3, 2015 without the prior written consent of Canada Carbon.

Upon completion of this transaction, Canada Carbon now has 57,104,558 common shares issued and outstanding.

ABOUT ASBURY GRAPHITE MINE

The past producing Asbury Graphite Mine property consists of two claims and is located approximately 10km northeast of Notre-Dame-du-Laus and about 120km north of the Ottawa-Gatineau area. It is accessible by a good road and a power transmission line runs to the property. Some of the old mill structure still exists and could be refurbished to house a dry milling process. The open pit mine and mill were in operation from 1980 to 1989 where a total of less than 70,000 tons were processed. The operation was shut down in 1990 due to falling graphite prices.

A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves; and Canada Carbon is not treating the historical estimate as current mineral resources or mineral reserves.

In 1974, a historic estimate of 578,000 tons grading 10% large flake graphite was reported. Additional drilling in 1985 indicated the potential for additional ore at the bottom of the pit and both to the north and south of the existing pit. These included significant intervals ranging from around 4 to 10% carbon.

A qualified person has not verified the relevance and reliability of the 1974 metallurgical results outlined above. A qualified person has not verified the relevance and reliability of the 1985 drill results outlined above.

Past metallurgical tests on bulk samples from the deposit have shown that a graphite concentrate with a recovery of 85% was produced where by 50% of the concentrate falls into the large flake grade with an average carbon content of 90% and a flake size of +80 mesh. 25% fall in the medium flake category with an average carbon content of 80% carbon and a flake size between -80 and +200 mesh. With more advanced milling technology available today, these recoveries and purity may be significantly improved.

ABOUT CANADA CARBON INC. (TSX VENTURE:CCB)

Canada Carbon is a carbon sciences company – our goal is to be the most efficient graphite mining and high purity company in the world with the highest quality materials. We are trying to achieve this by deploying proprietary technologies, sound environmental policies, best practices companywide and employing the best people the industry has. Together, our goals will be realized by being customer centric and on the constant leading edge.

Canada Carbon is a natural resource company focused on the acquisition and development of graphite properties throughout Canada. Canada Carbon holds 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).

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).