CH Charbone Hydrogen Corporation

Urban Select Capital Corporation (the "Company") (TSX VENTURE:CH) is pleased to
announce that it has entered into a letter of intent ("LOI") with ARNEVUT
Resources Inc. ("ARNEVUT"), a Colorado incorporated private company dedicated to
the identification and active exploration of mineral properties. Pursuant to the
terms of the LOI, the Company and ARNEVUT have agreed to establish a new company
focused on precious metals exploration and development in the Western United
States, especially in Nevada. The new company is expected to be called ARNEVUT
Exploration Corp. ("ARNEVUT Exploration"). 


Pursuant to the LOI, the Company has agreed to: (i) incorporate ARNEVUT
Exploration as a wholly-owned subsidiary of the Company; (ii) transfer cash to
ARNEVUT Exploration in consideration for common shares of ARNEVUT Exploration
and distribute these common shares to the Company's shareholders pursuant to a
plan of arrangement under the Business Corporations Act (British Columbia) (the
"Plan of Arrangement"); and (iii) assist ARNEVUT Exploration with completion of
an anticipated $1,500,000 non-brokered private placement financing (the
"Financing") to be completed following the entering into of the Definitive
Agreement (as defined herein). The Company will seek approval of the Plan of
Arrangement at an annual and special general meeting of its shareholders to be
held on December 19, 2011 (the "Meeting"). Further information regarding the LOI
and the Plan of Arrangement will be set forth in the notice of meeting and
information circular to be prepared in connection with the Meeting. Should the
Plan of Arrangement receive approval at the Meeting, it is anticipated that the
Plan of Arrangement will become effective shortly thereafter. Upon completion of
the Plan of Arrangement, ARNEVUT Exploration will become a reporting issuer in
British Columbia and Alberta. Completion of the Plan of Arrangement is subject
to the approval of the Supreme Court of British Columbia and the TSX Venture
Exchange. 


Subject to completion of the Plan of Arrangement, ARNEVUT and ARNEVUT
Exploration anticipate entering into a definitive agreement (the "Definitive
Agreement") whereby ARNEVUT Exploration will acquire, in consideration for the
issuance of 18,997,767 common shares of ARNEVUT Exploration, 100% of ARNEVUT's
option interests in the Island Mountain Gold Property, Nevada, USA (the
"Acquisition") and East Canyon Property, Nevada and Utah, USA (collectively the
"Properties"). Should ARNEVUT and ARNEVUT Exploration enter into the Definitive
Agreement, the Acquisition will be subject to a number of conditions, including:
completion of the Financing; delivery by ARNEVUT of a National Instrument 43-101
compliant technical report in respect of one of the Properties; and satisfactory
due diligence. Should the Plan of Arrangement be implemented, the Definitive
Agreement will be entered into and the Acquisition will be completed, it is
expected that shareholders of the Company will:




--  retain their current interest in the Company; 
--  obtain an approximate 3.4% interest in ARNEVUT Exploration; and 
--  through their interest in the Company, receive the benefit of the
    Company's approximate 3.8% interest in ARNEVUT Exploration.



Should the Plan of Arrangement be completed, it is anticipated that the
Definitive Agreement will be entered into on or before January 31, 2012 with the
Acquisition to be completed shortly thereafter. The Company and ARNEVUT are at
arm's length. 


ABOUT ARNEVUT RESOURCES

ARNEVUT Resources is a private, pre-IPO stage company transitioning to a full
junior gold mining company. ARNEVUT holds an option on the Island Mountain
gold-silver property, Nevada, USA. ARNEVUT also holds an exclusive contract on
the East Canyon Claims, a gold-silver-copper-lead-zinc property on the border
between Nevada and Utah, USA.


Island Mountain

The Island Mountain property is located near the northeast end of the Jerritt
Canyon Trend (greater than 9 million oz Au produced), 70 miles north of Elko,
Nevada, with similarities to other known deposits in that Trend. The property
has had gold intercepts in drill holes (up to 11 m at 0.119 opt); intercepts are
variable, scattered laterally and vertically in clusters, and mineralization
limits have not yet been defined.


The Island Mountain Property currently consists of approximately 1,480 acres of
Federal land, managed by the Forest Service, as 78 unpatented claims and 320
acres of leased private land (16 patented claims). ARNEVUT's option agreement
with Victoria Gold Corp. requires expenditures of $2,500,000 to earn a 51%
ownership in the Property by November 2013. ARNEVUT's expenditures to date are
approximately $740,000. ARNEVUT can achieve a total ownership of 75% through
further expenditure of $2,500,000 and completion of a full feasibility analysis.


ARNEVUT has completed a NI 43-101 Technical Report on Island Mountain, dated
2008, but is in the process of updating this report to include more recent
resource estimation modeling by a QP and cover changes to the land package and
technical activities since 2008. The resource modeling has shown that the Island
Mountain Property has a historical Inferred resource of 515,000 ounces of gold
at a 0.20 g/tonne cutoff grade (P.J. Hollenbeck, pers. Communication, 2011),
which is a most likely cutoff for a heap leach operating scenario. NI 43-101
compliant resources are 38,000 ounces Measured and Indicated resources and
43,000 ounces Inferred resources. The known gold deposits occur in clusters,
partially due to the clustered nature of past drilling activity, along multiple
apparent northeast-southwest and west-northwest-east-southeast trends. All known
resources are in the oxide zone, and any sulfide resource potential remains
untested. All clusters are unconstrained laterally and vertically based on past
drilling.


East Canyon

This property consists of 10 unpatented claims (approx. 180 acres) on Federal
lands and one 634 acre Utah State Section encompassing a highly prospective Long
Canyon-type gold target that is mostly within Utah but straddles the Nevada-Utah
state line, roughly 40 miles north of Wendover, Utah. The property also has
silver, copper, lead, and zinc mineralization. 


East Canyon is located in the northern Pilot Range and is within the Long Canyon
Trend in northeastern Nevada and northwestern Utah. The Long Canyon Trend was
recently identified as a result of gold discoveries in the northern Pequop Range
of Nevada, the T.U.G. and KB deposits about 10 miles north of East Canyon, and
the Viper deposit about 15 miles north of East Canyon, the latter three deposits
are all near the Utah-Nevada border.


ABOUT URBAN SELECT 

Urban Select Capital Corporation is global investment management, financial
advisory and private equity firm focused on investing growth capital into
private and public companies in a broad range of sectors including renewable
energy, natural resources, chemicals, agriculture and consumer retail services.


Caution Regarding Forward-Looking Statements - This news release contains
certain forward-looking statements, including statements regarding the business
and anticipated financial performance of the Company, including with respect to
completion of the Plan of Arrangement, the entering into of a Definitive
Agreement, completion of the Financing, completion of the Acquisition and the
anticipated results thereof. These statements are subject to a number of risks
and uncertainties. Actual results may differ materially from results
contemplated by the forward-looking statements. There is no guarantee that any
of the Plan of Arrangement, the entering into of the Definitive Agreement, the
Acquisition or the Financing will be completed as proposed or at all. The Plan
of Arrangement remains subject to approval of the Company's shareholders, the
Supreme Court of British Columbia and the TSX Venture Exchange. The Acquisition
is subject to completion of the Plan of Arrangement, execution of a Definitive
Agreement and completion of the Financing, among other things. When relying on
forward-looking statements to make decisions, investors and others should
carefully consider the foregoing factors and other uncertainties and should not
place undue reliance on such forward-looking statements. The Company does not
undertake to update any forward looking statements, oral or written, made by
itself or on its behalf except as required by law.

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