United Bolero Development Corp.

United Bolero Development Corp.

May 30, 2006 10:23 ET

United Bolero Hires Broad Oak Associates to Complete N.I. 43-101 on Bald Butte Project

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 30, 2006) - United Bolero Development Corp. (the "Company" or "United Bolero") (TSX VENTURE:UNB)(FWB:U7N) is pleased to announce updates on its Bald Butte Project in Montana. On May 16, 2006, United Bolero entered into an agreement with Broad Oak Associates to complete a N.I. 43-101 Technical Report on the Bald Butte Project. Broad Oak provides consulting services to the mining sector - technical, financial and research. United Bolero is planning a drill program to confirm and expand this historic resource, which is expected to start within a month.

Tonnage calculations on the Bald Butte property by Gulf Mineral Resources Co. (historical, non N.I. 43-101 compliant) utilizing a pit design with a 0.06% Mo cut-off grade, indicated the presence of 131 million tons of mineralized material grading 0.077% Mo at a stripping ratio of 2:1 (waste to ore). Investors are cautioned that they cannot rely upon these estimates. These historic estimates are not supported by a current independent technical report and the Company cannot provide a current reserve estimate until it performs and completes its own updated study. The Company cannot state that there are current mineral reserves or resources on the Bald Butte property and cannot state that it has demonstrated economic viability.

This area became of interest for its molybdenum potential in the 1960's when Amax and then Mine Finders explored the property until Gulf Mineral Resources acquired it in 1976. Gulf conducted a continual evaluation of the deposit from 1976 through 1982, culminating in feasibility studies. Work conducted by Amax and Gulf includes geological, geophysical and geochemical surveys, trenching, sampling, 54,103 feet of surface diamond drilling, and extensive costing and feasibility studies.

Bald Butte is a quartz vein stockwork hosted molybdenite deposit, located approximately 3 miles south west of the historic Marysville gold mining district of Montana. The Bald Butte area was also an active gold producing area and numerous claims were brought to patent in the 1880's. The option agreement includes a total of 22 patented claims, comprising approximately 350 acres, and an area of interest with radius of 0.5 miles from the property boundaries. The Company had acquired, through staking, an additional 10 claims (contiguous to the property and included in the area of interest provision) to cover possible extensions of significant mineralization.

The Bald Butte project is easily accessible by existing roads, a rail siding is within 8 miles, the Butte-Mullan power line crosses a portion of the property and 2 existing flotation mills, MRI (53,000 TPD) and Phillipsburg (3000 TPD) are both within 80 miles.

R. Bruce Duncan, the President & CEO of United Bolero, stated, "This is the first step to considering the Bald Butte property on a larger scale."

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

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.

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