United Bolero Drills 0.611% Mos2 Over 14 Feet and Provides Corporate Update

Published:

United Bolero Drills 0.611% Mos2 Over 14 Feet and Provides Corporate Update

United Bolero Development Corp. (the "Company" or "United Bolero") (TSX VENTURE:UNB)(FWB:U7N) is pleased to announce the following update on its Bald Butte Project in Montana. United Bolero reports through its wholly-owned subsidiary, Montana Molybdenum Corporation ("MMC") drill results on their first 100 foot exploration percussion hole on the company's 100% interest in the Bald Butte quarry.

The exploration hole was drilled from the Bald Butte quarry floor; dip -45 degrees, azimuth 225 degrees (quarry grid). The drill intercepts are as follows:


                      Oxide  Total     Mo as
From - To  Intercept     Mo     Mo  Sulphide    MoS2      MoS2
feet            feet    ppm    ppm       ppm     ppm  per cent
                                                             %
0' - 8'            8    227   1472      1245    2075     0.208
8' - 16'           8     82    896       814    1357     0.136
16' - 24'          8     64   1749      1685    2808     0.281
24' - 32'          8     55    949       894    1490     0.149
32' - 40'          8     46   1856      1810    3017     0.302
40' - 48'          8    100   2085      1985    3308     0.331
48' - 62'         14   1250   4913      3663    6105     0.611
62' - 70'          8    471   2727      2256    3760     0.376
70' - 78'          8    157   2414      2257    3762     0.376
78' - 86'          8    167   4283      4116    6860     0.686
86' - 94'          8     71   2727      2656    4427     0.443
94' - 100'         6     71   2364      2293    3822     0.382


Summary of Drill Results:

From 0 to 100 feet:

  100 feet averaging 0.371% MoS2

  Includes from 32' to 100', 68 feet of 0.455% MoS2

  Or from 48' to 100', 52 feet of 0.498% MoS2

The end of this first 100 foot exploratory hole ended in material grading 0.382% MoS2.

The hole was drilled under the direct supervision of Bruce Parker P.E. (Montana). The drill cuttings were split on site and Mr. Parker maintained chain of custody of the samples until delivered to the USPS for delivery to Norris Assay Lab, Norris MT. Blank and duplicate samples were included in the assay runs for quality control purposes. Values in excess of 4000 ppm Molybdenum were re-assayed.

Bruce Parker P. Eng. (Montana) has been appointed to Head of Operations of United Bolero's Montana projects. Mr. Parker has over eighteen years experience at open pit mining operations with positions ranging from Mine Engineer to Mine Superintendent. More recently, Mr. Parker worked 13 years for the Beal Mountain Mine (Pegasus Gold) in Montana where for the last seven years he was the General Manager. While there, his responsibilities included production, mine planning, engineering, budget management, human resources, safety and training and regulatory compliance. Mr. Parker also designed, prioritized and supervised reclamation activities at the site including directing subcontractors and consultants, and was the point person for multiple regulatory agencies.

R. Bruce Duncan, the President & CEO of United Bolero commented: "We are excited by these drill results, which represent the highest grades historically achieved on Bald Butte. These results have given us the opportunity to now pause and re-evaluate the operations as a whole. Over the next several weeks, the company expects to ascertain the most appropriate scale of operation at Bald Butte and the most economic approach given these noteworthy assay results. We are delighted with the appointment of Mr. Bruce Parker P. Eng. as Head of Operations in Montana. His significant operational experience will be a real asset to the company as we move forward on the Bald Butte project. We would like to welcome Bruce Parker as an integral member of the UNB team.

L. Joseph Bardswich P. Eng. (Ontario), a director of United Bolero and President and a Director of Montana Molybdenum Corporation. (MMC) resigned effective immediately. The Board of Directors of United Bolero Development Corp. have accepted Mr. Bardswich's resignation.

Bruce Parker P. Eng (Montana) is the "qualified person" (as such term is defined in NI 43-101) responsible for the preparation of the technical information in this release.

About Bolero

United Bolero is focused on acquiring and exploring quality mining properties in both Canada and the United States. It has acquired options for 100% ownership interests in two large-scale molybdenum properties in the state of Montana. United Bolero also has other base and precious metal interests adjacent to a significant copper find in Montana. Through a partnership with Solitaire Minerals, United Bolero has an interest in the South Baird claims units, located in the heart of the renowned Red Lake Mining District in Ontario.

United Bolero is listed on the TSX-Venture Exchange under the symbol UNB, as well as the Frankfurt Exchange under U7N.

On behalf of the Board of Directors

R. Bruce Duncan, President & CEO

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.