Bulletin on United Reef
UNITED REEF LIMITED ("URP") BULLETIN TYPE: Property-Asset or Share Purchase Agreement BULLETIN DATE: January 27, 2010 TSX Venture Tier 2 Company TSX Venture Exchange has accepted for filing documentation pertaining to an Option and Joint Venture Agreement (the "Agreement") dated January 21, 2010, between United Reef Limited (the "Company"), and Casey Enterprises Inc. (the "Vendor"), whereby the Company can earn up to a 70% interest in 4 patented and 15 unpatented mining claims (the "Property"), located in Keefer and Hillary Townships, Porcupine Mining Division, Ontario. Under the terms of the Agreement, the Company can earn a 70% interest in the Property by making aggregate cash payments of CDN$50,000 over a two year period, issuing 2,300,000 common shares over a two year period and incurring aggregate exploration expenditures of CDN$150,000 over a three year period. For further details, please refer to the Company's news release dated January 25, 2010.