United Bolero Development Corp.
TSX VENTURE : UNB

United Bolero Development Corp.

October 20, 2005 07:00 ET

United Bolero to Prepare 43-101 on Butte Property/Financing Oversubscribed

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 20, 2005) - United Bolero Development Corp. (the "Company", "United Bolero")(TSX VENTURE:UNB) is pleased to announce the retention of Mr. Michael Sandidge as the Qualified Person to compile the National Instrument 43-101 on the company's Bald Butte molybdenum project located approximately 35 miles northwest of Helena, Montana. Mr. Sandidge's duties will be to review all of the previous collected data on the property, conduct property visits, examine representative stored core from the previous drilling programs, and to prepare the Qualifying Geological Report in compliance with the Standards of Disclosure for Mineral Projects as set out in the Canadian Securities Administrators' (CSA) National Instrument 43-101 and its Companion Policy 43-101CP, and in accordance with the technical reporting guidelines and requirements.

The Bald Butte Project 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 acquired an additional 10 claims contiguous to the property, which includes an area of interest provision in the event that possible extensions of significant mineralization are discovered.

Recently, United Bolero conducted a percussion drill program on a portion of the Bald Butte project in an area where the mineralization comes close to surface, and where the grade averaged .13% Mo as reported on August 9th and 16th, 2005. The company proposes to quarry this material and truck it to a contract mill. Mr. Sandidge will focus on this portion of the Bald Butte project.

Mr. Sandidge is a professional registered geologist registered in the State of Washington with 20 years of experience in the United States, Canada, Russia, Mexico, and has worked extensively in South America over the last ten years. Mr. Sandidge graduated from the University of Washington with a B.Sc. in Geological Sciences and went on to earn a masters degree in Geological Sciences from the University of Texas at El Paso. His work history has a client roster that includes the University of Washington Department of Geological Sciences, Canadian Geological Survey, Bema Gold Corp., Phelps Dodge Corp., Cyprus/AMAX, and numerous other companies.

President Blair Naughty states, "We felt that getting the Bald Butte up to 43-101 standards was an important final step for the company to make to ensure that all data was confirmed by a third party. This process has begun and will likely be completed within the next 10 days. When the report is complete in its entirety we will post it on the website for the public to view."

The company is pleased to report that the financing announced October 11, 2005 has been oversubscribed and the first tranche of 690,000 dollars (originally 600,000) is expected to close by Tuesday October 24th. The second tranche, which is 920,000 dollars (originally 800,000), that was placed by Aberdeen Gould Investment Bank in Toronto, Canada, will close upon receipt of the 43-101 and is also oversubscribed. The flow-through financing announced October 11, 2005 is also oversubscribed and is now for 172,500 rather than 150,000 dollars. The offering is subject to TSX Venture Exchange approval. All securities issued in connection with this offering will be subject to a four-month hold period in accordance with securities regulation. For more information on Aberdeen Gould please visit www.aberdeengould.com.

"The response to our Bald Butte project thus far has been overwhelmingly positive, and we look forward to delivering a 43-101 to bring it into full compliance with the TSX-Venture Exchange's reporting requirements," states Mr. Naughty. "The company has already started the process of repairing the road linking the property to the interstate, and work will commence in the next 3-5 weeks on the project."

On Behalf of the Board of Directors

Mike England, Director

This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the British Columbia Securities Commission and the United States Securities & Exchange Commission.


The TSX Venture Exchange has not reviewed and does not take responsibility for the adequacy or accuracy of the content of this news release.

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