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Gold Reef International Executes Drilling Contract to Core Drill Newmont Rimrock Project, Lander County, Nevada

Posted on: Tuesday, 18 December 2007, 12:00 CST

Gold Reef International, Inc. (CNQ:GRIN) announced today that it has executed a drilling contract with Kettle Drilling to conduct a core drilling program on the Gold Reef - Newmont Rimrock Exploration Prospect in Lander County, Nevada. As previously reported (Nov. 19, 2007), Gold Reef received approval of its permit application from the Bureau of Land Management for its Phase 1, eight-hole program on its expanded land position in the Rimrock Project along the western side of the Northern Nevada Rift.

Site preparation work by Legarza Exploration & Construction will begin this week in order that the drilling program be started the first week in January 2008.

As reported previously, Gold Reef intends to conduct a multi-phase drilling program on the prospect with the first phase to consist of eight core holes to test multiple targets identified in its recently completed geophysical programs that are coincident with anomalous gold and pathfinder elements.

About Gold Reef International, Inc.:

Gold Reef International, Inc. is a well-financed exploration company with a growing portfolio of prospective precious metals properties in Nevada. Gold Reef has five 100 percent-owned claim blocks totaling 14,147 acres in addition to the 5,991 acres of leases from Newmont, for a total of 20,138 acres in Elko and Lander counties. Gold Reef's geophysical contractor is in the process of interpreting the spectrometric survey data on the southern portion of the Texas Canyon Project in Elko County, Nevada, which was conducted to confirm previously reported uranium/molybdenum mineralization along northeast-trending structural zones. Results of the spectrometric survey are very encouraging with indications of possible mineralization along the structures.

Dr. Criss Capps, Gold Reef's Vice President of Exploration, is the "qualified person" within the meaning of NI 43-101 and has reviewed the technical contents of this press release on behalf of the Company.

For further information, please contact Lou Kost, Jr., at Gold Reef International, Inc., 210-821-6511 or Andrew Kaplan, at Barry Kaplan Associates, 732-747-0702.

Source: Business Wire

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