United Reef Limited

Advancing base and precious metals projects: McFauld's Lake - Sudbury Basin - Nova Scotia

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GOLDEN HOPE MINES (TSXV:GNH) Confirms High Grade Intersection of 64.1 g/t Au (Gold) over 1m Read More

The screen metallic analysis returned 82 g/t Au for an average grade of 93.5 g/t Au.
Two additional fire assays on the original pulp done prior to the screen metallic analyses returned 0.22 g/t Au and 0.12 g/t Au for an average fire assay grade of 0.41 g/t Au. The weighted average of all the fire assays and screen metallic assays from this 1-metre section in hole BD2011-184 is 64.1 g/t Au.

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Message: United Reef Closes Private Placement of 1,437,500 Units

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United Reef Closes Private Placement of 1,437,500 Units

posted on Jan 16, 08 06:40AM

United Reef Limited (URP – TSXV, URPL – CNQ) is pleased to announce that it has closed a non-brokered private placement of 1,437,500 Units at a price of $0.08 per Unit with private investors for proceeds of $115,000. Each Unit consists of one common share and one common share purchase warrant. Each common share purchase warrant entitles the holder to purchase one additional common share of United Reef at a price of $0.12 for a period of two years from December 21, 2007.

Michael Coulter, President and Marilyn Turner, Secretary, of United Reef each subscribed for 156,250 Units of the private placement.

The proceeds of the private placement will be used for general corporate purposes and asset acquisition investigations. The securities issued pursuant to the private placement are subject to a four month hold period in accordance with applicable securities law and the policies of the TSX Venture Exchange.

Upon completion of the private placement United Reef has a total of 65,860,980 common shares issued and outstanding.

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