United Bolero Development Corp.

United Bolero Development Corp.

March 31, 2005 08:00 ET

United Bolero Announces Plans for the 2005 Field Season at Cannivan Gulch and Bald Butte


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: UNITED BOLERO DEVELOPMENT CORP.

TSX VENTURE SYMBOL: UNB

MARCH 31, 2005 - 08:00 ET

United Bolero Announces Plans for the 2005 Field
Season at Cannivan Gulch and Bald Butte

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 31, 2005) - United
Bolero Development Corp. (UNB) (the "Company", "United Bolero") (TSX
VENTURE:UNB) plans to commence drilling on the Bald Butte Molybdenum
Project in May to verify historical drill hole data and bring the
project into 43-101 compliance. Bald Butte is 100% owned by UNB and is
located 28 miles northwest of Helena, Montana. Bald Butte contains a
geologic resource, determined from historical drilling, of 131.9 million
tons grading 0.077% Mo (203 million lbs Mo) at a cutoff of 0.06% Mo.
Bald Butte is of particular near term interest to UNB as it is contained
within patented claims, close to existing infrastructure and rail lines,
representing a faster track to full scale permitting and development.
Drilling equipment will be moved from the Bald Butte to the Cannivan
Gulch Project when Bald Butte drilling has been completed about July
1st. Drilling at Cannivan Gulch is also designed to verify historical
drill hole data and bring that project into 43-101 compliance. Cannivan
Gulch contains a geologic resource calculated from historical drill hole
data of 300 million tons grading 0.06% Mo (369 million lbs Mo). In a
press release dated March 9 UNB announced the recognition of a high
grade zone at Cannivan Gulch. This zone contains a geologic resource,
estimated from historical drill hole data that has not been validated by
43-101 standards, of 26 million tons grading 0.138% Mo. The high grade
zone exhibits a geometry and proximity to existing underground workings
that would allow a bulk minable underground mining scenario. Cannivan
Gulch is located 30 miles southwest of Butte, Montana on federal lands
in the Pioneer Mountains.

President William S. Morton states: "This work will provide UNB with up
to date drill hole data verifying historical results that will bring the
projects into 43-101 compliance. The company plans to be in a position
to move forward with both projects by the end of 2005."

Qualified Person

These results and comments have been prepared under the guidance of
Robert B. Hawkins, a geologist and independent consultant to UNB who is
designated as the Qualified Person with the ability and authority to
verify the authenticity and validity of this data.

On behalf of the Board of Directors,

William Morton, President & CEO, Director


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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    United Bolero Development Corp.
    William Morton
    President & CEO, Director
    (604) 925-8898 or Toll Free: 1-888-945-4770
    (604) 925-9897 (FAX)
    info@unitedbolero.com
    www.unitedbolero.com
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.