Uragold Updates Shareholders on the Beauce Placer Gold Project; Will Issue a 43-101 Compliant Inferred Resource Followed by a Preliminary Economic Assessment - Seite 3

Uragold's Beauce Placer Gold project has all the required environmental permits to start its operations, and is in the final stage for obtaining a 20 years mining lease placer gold mining operation. It will be Quebec's first placer mining operation in 50 years.

About Uragold Bay Resources Inc.

Uragold Bay Resources is a junior exploration company trading on the TSX Venture under the symbol UBR. Uragold holds gold properties in Southern Quebec's Appalachian belt. Uragold's business model focuses on developing small scale low-cost mining operations for their cash flow generating potential to finance the exploration of core properties that hold the potential for the discovery of blue sky gold deposits like the MacDonald project.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Appendix 1

Mine Exploration & Development Cycle					UBR
Placer Gold Project					Beauce Placer
Stage	Exploration Cycle stage	Objective		Time required	% Completed
1	Grassroots	Conceptual, land acquisition		12 months	100	%
2	Target Generation & Drilling	Filtering for drill targets		12 months	100	%
3	Discovery Delineation	Defining the limits of a discovery & producing initial resource potential		12 months	100	%
5	Resource Delineation	Producing initial inferred resource estimate		9 to 18 months	90	%
6	Preliminary Economic Assessment (PEA) & Metallurgy	Evaluating recoveries and optimal processing method, initial economic analysis with 35%-50% error margin		9 to 18 months	75	%
4	Permitting	Securing environmental approval & Mining Lease		9 to 18 months	90	%
7	Bulk sampling and Mining	Full scale field testing of recoveries and optimal processing method, further economic analysis reducing to 10%-20% error margin before final production decision is taken		6 months	0	%
8	Production	Mining cash flow (Life of Mine	)	5-10 years	0	%

Shares outstanding: 54,039,743