Bolero Begins 5,500 Metre Drill Program at Bald Butte

Vancouver, BC, Canada, June 21^st, 2007  - United Bolero Development Corp. (the "Company" or "United Bolero"), (TSX-V: UNB) is pleased to announce that the 5,500 metre (18,000 feet) Diamond drill program at Bald Butte has commenced. 

Diamond Drill Program:

Ruen Drilling, Inc. of Clark Fork, Idaho has been on site for the last week and, working with UNB personnel, has prepared all of the drill pads for the planned drill program.  Drilling is being conducted in two ten-hour shifts per day. Currently at the end of the June 19, 2007 night shift, approximately 630 feet of core has been drilled. A core logging facility has been prepared in Silver City, Montana approximately nine miles east of the Bald Butte property. 

The core is being sawed and geologically logged prior to shipment of one half of each sample interval to ALS Chemex Laboratories for analysis. Additional geol ogic mapping is also being conducted over portions of the Bald Butte property.

Previous Work on Bald Butte:

The deposit currently shows a NI 43-101 inferred resource of 105 million tons at a grade of 0.071% Molybdenum (0.12% MoS2) which was calculated using the polygonal method, containing 150 million pounds of Molybdenum, (250 million pounds of MoS2) as stated in the press release dated December 14th, 2006.

This NI 43-101 resource was prepared by Broad Oak Associates (an independent) and the Company is now undertaking the program recommended in this Technical Report to increase the geological knowledge of the deposit.  The Bald Butte Project is located 18 miles northwest of Helena, Montana in Lewis and Clark County.

John Childs, Ph.D., Registered Geo (AZ) is the "qualified person" (as such term is defined by NI 43-101) responsible for the preparation of the technical information in this release.

Corporate Update:

United Bolero Development Corp. is pleased to announce it will hold its Annual General Meeting of the Shareholders on Monday July 9^th, 2007 at 11:00 a.m. (local time) at Suite 890-999 West Hastings Street, Vancouver, British Columbia.

United Bolero is listed on the TSX-Venture Exchange under the symbol UNB, as well as the Frankfurt Exchange under U7N. For more information, please visit www.unitedbolero.com or call toll-free 888-945-4770.

On behalf of the Board of Directors

"R. Bruce Duncan"
President & CEO

Renmark Financial Communications Inc.
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Tel.: (514) 939-3989
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www.renmarkfinancial.com

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