Bolero to Commence Mining Operations December 5th.

VANCOUVER, British Columbia -- United Bolero Development Corp. (the "Company", "United Bolero")(TSX VENTURE:UNB) is extremely pleased to provide the following update to shareholders with regards to its Bald Butte  molybdenum project in Montana.

The road program, which provides haul truck access to State/Interstate highways through the town of Marysville, is expected to be completed by December 7, 2005. Actual mining operations will commence December 5, 2005 with the first ore shipments, at a reduced rate, scheduled for the week of December 19, 2005. The ore will be trucked to the Contact flotation mill in Phillipsburgh MT. By mid-January, 2006, mill throughput capacity is expected to be about 1000 tonnes per day.

"We are extremely pleased with the progress to date on the Bald Butte quarry by the staff at Montana Molybdenum Corporation," stated President Blair Naughty. "The production schedule set by our onsite engineer, Mr. Joe Bardswich, has been on time and has actually exceeded expectations. With molybdenum prices holding steady around US$30/lb., the Bald Butte project is a significant step towards growing United Bolero into a cash flow positive entity, and will enable the Company to finance future projects internally with little or no dilution to shareholders." Updates will be provided on a timely basis to shareholders as they become available.

United Bolero is also pleased to announce the closing of the second tranche of the private placement announced November 11, 2005. The financing was led by Aberdeen Gould ("AG"), an investment bank based in Toronto, Canada (www.aberdeengould.com), and included flow-through as well as non-flow through shares. Roger Rosmus, President of AG, stated: "We are very pleased to have financed this private placement, as we feel the management team has done an excellent job in assembling a collection of quality molybdenum properties for development. Particularly impressive is the Company's ability to be in production the same month we closed the financing. We look forward to an ongoing relationship with United Bolero Development and will continue to support the Company's strategy to become a major molybdenum producer."

United Bolero is currently debt free, has sufficient capital to see Bald Butte through to production, and now has cash on hand to start a program on the newly-acquired high-grade molybdenum Chong property in Sudbury, Ontario, Canada. The company also plans to work towards NI 43-101 compliance for its Cannivan Gulch molybdenum property in Montana.

The Company (through its wholly owned subsidiary Montana Molybdenum Corporation) has recently added three key supervisors for the Bald Butte Quarry. Shance Hanninen, a native of Butte, has extensive experience in open pit mines in Nevada, and was a supervisor at Newmont's Twin Creek Mine near Winnemucca, Nevada. Shane is also a certified MSHA trainer and established the Company's Safety and Training Plan. Todd Randal, another Bald Butte native, has extensive road and quarry experience in Nevada with a large construction company, including holding the position of Pit Supervisor. Rick Dorvall, a native of Whitehall, MT, gained his experience at the Golden Sunlight operation of Placer Dome in Whitehall, and at the east Boulder operations of Stillwater Mining. Rick supervises the drilling and blasting operations at Bald Butte. The addition of these three supervisors brings the total number of employees at Montana Molybdenum Corp. up to 16.

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

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 respon sibility for the adequacy or accuracy of the content of this news rele ase.

United Bolero Development Corp. (TSX VENTURE:UNB)