Reef Resources Ltd. provide the results of a reserve evaluation on Reef's Ontario assets as of July 31, 2012 prepared by the Company's independent reserve engineering firm, Deloitte & Touche LLP ("AJM Deloitte"), conducted pursuant to National Instrument 51-101 standards of disclosure for oil and gas activities and the Canadian Oil and Gas Evaluation Handbook (COGEH) reserves definitions.

The current Proven Plus Probable ("P2") Net Present Value (before tax) at a 10% discount rate ("BTAX 10") evaluation for the year end July 31, 2012 is at $7,863,000 which represents a 98% increase over the July 31, 2011 value of $3,963,000. On an issued and outstanding per share basis the BTAX 10 value has gone from $0.071/share to $0.142/share based on the increased reserves.

Gross Company P2 reserves have been increased by 85 % to 348,700 barrels of oil, gas and liquids (5% gas, 2% NGL, 93% oil) from 188,900 barrels of oil as reported last year.

Tags: Reef Resources Ltd.