Gold Reef International Inc.

May 31, 2006 19:05 ET

Gold Reef Announces Appointment of Vice President of Exploration and Nevada Exploration Update

TORONTO, ONTARIO--(CCNMatthews - May 31, 2006) - Gold Reef International, Inc. (the "Company") (CNQ:GRIN) is pleased to announce that Dr. Richard Crissman (Criss) Capps has joined the Company as Vice President of Exploration. This addition will closely align the Company's management competencies with the Company's business objectives.

Dr. Capps has been involved in exploration for precious metals, base metals and uranium in the western USA, Mexico and Suriname since 1978 and brings over 30 years of field experience to the Gold Reef team. Dr. Capps holds a BS in Geology and MS in Geology from East Carolina University and a PhD in Economic Geology from the University of Georgia (1996). Dr. Capps was an Associate Professor of Geology at Augusta State University in Georgia from 1999 to 2006 and is a Registered Professional Geologist in Georgia and South Carolina. Dr. Capps is also a Qualified Person under provisions of National Instrument 43-101.

Dr. Capps has been involved in regional reconnaissance and exploration for precious metal deposits in Nevada for Gold Reef of Nevada, a wholly owned subsidiary of Gold Reef International, Inc. since 2004. Dr. Capps' experience includes all phases of geological, geochemical, and geophysical exploration and resource evaluation for mineral deposits.

Nevada Exploration Update

The Company also announces that the 2006 exploration program is in progress on various prospects in Elko County, Nevada. Geophysical programs (magnetics and gravity surveys) are in progress on the Golden Trail Project in northeastern Elko County and the Golden Badger Project in southern Elko County with results expected in June. The geophysical program results will be incorporated into Gold Reef's proprietary ArcIMS-based system and be utilized to assist in establishing drilling targets for the 2006 drilling program. Detailed mapping, rock sampling and claim staking activities accomplished in the 2005 Nevada Program on five additional target areas will continue in 2006. Gold Reef has filed NI 43-101 compliant geologic reports for Golden Trail and Texas Canyon, both in Elko County and is in the process of completing a geologic report on the Golden Badger Project compliant with the requirements of NI 43-101.

Dr. Capps is a "qualified person" within the meaning of NI 43-101 and has reviewed the technical contents of this news release on behalf of the Company.

Forward Looking Statements: Statements made in this news release that relate to future plans, expectations, events or performances are forward looking statements. Such statements involve risks and uncertainties and are based on current expectations. Consequently actual results could differ materially from the expectations expressed in these forward-looking statements.

Shares Outstanding: 35,550,288

The CNQ has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information