TSXgroup

February 8, 2008

REEF RESOURCES LTD. ("REE")
BULLETIN TYPE: New Listing-IPO-Shares
BULLETIN DATE: February 8, 2008
TSX Venture Tier 2 Company

The Company's Initial Public Offering ('IPO') Prospectus dated September 26, 2007, has been filed with and accepted by TSX Venture Exchange, and filed with and receipted by the Alberta, British Columbia, Manitoba, Ontario and Nova Scotia Securities Commissions and the Saskatchewan Financial Services Commission on September 26, 2007, pursuant to the provisions of the Alberta, British Columbia, Saskatchewan, Manitoba, Ontario and Nova Scotia Securities Acts.

The gross proceeds received by the Company for the Offering were $1,537,790 (568,900 units at $0.40 per unit and 2,911,622 flow-through units at $0.45 per flow-through unit). Each unit consists of 1 common share and 1 common share purchase warrant ("Warrant"). Each Warrant entitles the holder to purchase 1 common share until 24 months from the date of issue, at a price of $0.60 per share for the first 12 months and at a price of $0.80 per share for the second 12 months. Each flow-through unit consists of 1 flow-through common share and 1 flow-through common share purchase warrant ("Flow-Through Warrant"). Each Flow-Through Warrant entitles the holder to purchase 1 common share until 24 months from the date of issue, at a price of $0.65 per share for the first 12 months and at a price of $0.90 per share for the second 12 months.

The Company is classified as an ''oil and gas" company.

Commence Date: At the opening Monday, February 11, 2008, the common shares will commence trading on TSX Venture Exchange.

Corporate Jurisdiction: Alberta

Capitalization: Unlimited common shares with no par value of which 15,512,937 shares (being 12,601,315 common shares and 2,911,622 flow-through shares) are issued and outstanding.
Escrowed Shares: 9,188,286 shares

Transfer Agent: Olympia Trust Company
Trading Symbol: REE
CUSIP Number: 758455 10 9

Agent: Union Securities Ltd.

Agent's Option: Agent's Option to acquire 348,052 units at an exercise price of $0.40 per unit until December 21, 2009. Each unit consists of 1 common share and 1 Warrant. Each Warrant entitles the holder to purchase 1 common share until 24 months from the date of issue, at a price of $0.60 per share for the first 12 months and at a price of $0.80 per share for the second 12 months.

Agent's Fee: 10% of the gross proceeds raised pursuant to the Offering.

For further information, please refer to the Company's Prospectus dated September 26, 2007.

Company Contact: Arnie Hanson
President and Chief Executive Officer
Company Address: Suite 615, 906 - 8th Avenue SW, Calgary, Alberta T2P 1H9

Company Phone Number: (403) 251-9447
Company Fax Number: (403) 251-9553