United Reef Commences Summer Exploration Programs

United Reef Limited (TSX VENTURE:URP) ("United Reef" or the "Company") is
pleased to announce the commencement of summer exploration programs on its base
metals projects in Hants County, Nova Scotia and McFauld's Lake area, Ontario. A
ground magnetic survey will commence this week on the Hants County project to
confirm the location and size of 9 large anomalies interpreted from total
magnetic intensity (TMI) data for the project area, in preparation for a
proposed drilling program later this year.


On our McFauld's Lake claims, optioned from Canstar Resources Inc ("Canstar") in
April (see press release April 14, 2008), preparation for the planned drilling
program is also continuing to advance. United Reef has recently received an
independent geophysical interpretation of electromagnetic and magnetic data
provided by Canstar from an AeroTEM survey flown over the claims in late 2007.
Three initial geophysically defined targets have been selected for drill testing
later this summer. Further details will be announced once scheduling of a
locally operating drill rig is confirmed, which is presently contemplated for
sometime in August.


The Hants County project is located in the till-covered Carboniferous Kennetcook
Basin of north-central Nova Scotia approximately 70 km north of Halifax. United
Reef's interest in the area and initial exploration focused on a prominent 12-km
long by 200 to 300-m wide positive magnetic anomaly which extends along the
length of the Company's original claim block from the Rawdon Hills gold belt to
the south and north towards the centre of the Kennetcook sedimentary basin. This
magnetic anomaly was observed on a total magnetic intensity ("TMI") image
derived from a 900 km2 aeromagnetic survey undertaken for hydrocarbon
exploration in 2001 by Northstar Energy. During 2007 the Company confirmed the
location and intensity of the anomaly in a ground magnetic survey. Subsequent
auger drill-testing of the overlying glacial tills to a maximum depth of 50
metres on two fences failed to reach the source of the magnetic anomaly.
Interpretation of the magnetic intensity profiles obtained from the 2007 ground
survey suggests a depth to the top of the magnetic body of between 80 and 96
metres.


Following receipt of a NI 43-101 technical report (the "Report") in January
2008, United Reef staked additional claims to the north and west of the original
claim block targeting numerous TMI anomalies and potential base metal
mineralization occurrences in the basin. The Report addressed the Company's 2007
reconnaissance exploration (ground magnetic survey and drilling) results and
internal compilation of the base metal potential of the area. The Hants County
project presently consists of 13 mineral exploration licences (481 claims)
covering 76 km2. A map showing the location of the project is available on the
Company's recently redesigned website.


The Report considers 3 possible mineralization scenarios to explain the 12 km
linear anomaly:


- The magnetic anomaly is produced by a bedrock-hosted concentration of base
metals along a fissure, fault or shear, similar to the Walton Mine deposit
hosted by Windsor Group limestone 10 km to the northwest of the project area.


- A paleochannel with northern provenance containing high-levels of magnetite
and ilmenite analogous to titanium-bearing sands of the present day Shubenacadie
River to the northeast.


- The channel magnetic anomaly represents a buried paleochannel tapping
potentially auriferous Rawdon Hills gold mineralization to the south (Meguma
Group).


The Report noted that the bedrock-hosted Walton River base metal (Pb-Zn)
prospect is located on United Reef's claims proximal to linear magnetic
anomalies which appear to cross-cut the prominent north-south-trending main
linear anomaly. The past-producing Walton Mine base metal deposit (Ba, Pb, Zn,
Cu and Ag) and similar occurrences are located to the northwest and north, many
localized along NW-trending faults, with a similar orientation to the magnetic
linears cross-cutting the northern part of the 12 km linear anomaly and may have
a different origin than the main channel anomaly. These linear magnetic
anomalies branch off the main TMI channel anomaly close to the Walton River base
metal (Pb-Zn) prospect and may be analogous to the NW fault systems that host
the Walton Mine deposit. The Report also noted that a Gulf Minerals' (1975)
diamond drill hole collared adjacent to one of the TMI anomalies on United
Reef's claims, encountered thick sections of hematized and petroliferous bedrock
with iron sulphides under only 50 feet (15 m) of overburden, but that many of
these core sections were not assayed. ScoZinc's Gays River Pb-Zn deposit, owned
by Acadian Mining Corporation and brought into production in 2007, is located 30
km SE of United Reef's project area in similar Windsor Basin geology.


United Reef's continuing regional compilation of technical data within the
Kennetcook Basin has revealed that several areas adjacent to TMI anomalies and
northwest-trending faults are already known to be prospective for base metal
(Pb, Zn) mineralization. Many of the known mineralization occurrences in the
Kennetcook Basin including the Walton Mine deposit, are coincident with the
magnetic anomalies observed on Northstar's TMI image and have been staked by the
Company. A review of the Drillholes Database of the Nova Scotia Department of
Natural Resources, Mineral Resources Branch, indicates that most of these TMI
anomalous areas have not been drill-tested. The current ground magnetics survey
will better refine exploration targets for future diamond drilling.


Gary Nassif, P.Geo., United Reef's Exploration Manager, and a Qualified Person
as defined by National Instrument 43-101, has reviewed the technical information
presented in this press release.


For further information about United Reef please visit our recently redesigned
website at www.unitedreef.com.


Shares issued: 75,970,980

Fully diluted: 85,763,030