Bluestone Resources Inc. Reprices Stock Options and Approves New Control Person

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 13, 2012) - Bluestone Resources Inc. (TSX VENTURE:BSR) -

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

Bluestone Resources Inc. (the "Company" or "Bluestone") today announces the repricing of all outstanding stock options. Subject to the approval of the TSX Venture Exchange (the "TSX-V"), outstanding stock options for the purchase of an aggregate of 410,750 common shares of the Company having exercise prices ranging from $2.00 to $8.00 per share and expiry dates between 2012 and 2016, have all been repriced to the exercise price of $0.23 per share. None of the repriced options may be exercised at the amended exercise price pending TSX-V acceptance of the stock option repricing. As required by the policies of the TSX-V, all repriced options held by insiders of the Company were subject to, and received, disinterested shareholder approval at the Company's 2012 annual general and special meeting of shareholders on July 13, 2012 (the "Meeting").

Furthermore, at the Meeting disinterested shareholders approved John Robins becoming a control person of the Company and the election of the following to the Board of Directors: John Robins, James Paterson, David Kelsch, Bruce Counts and Craig Bentham. Mark Fields and Richard Gorton did not stand for re-election. "I would like to thank Mark and Richard for their contributions and service to the board over the years," stated Bruce Counts, President and Chief Executive Officer of Bluestone.

About Bluestone Resources Inc.

Bluestone Resources Inc. is a Canadian exploration company focused on the discovery and development of economic mineral deposits. 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