UBR

Uragold Bay Resources Inc. (TSX VENTURE:UBR), Uragold is pleased to announce
that it has completed its diamond drilling program, on the Beauce Placer
Property located near Saint-Simon-les-Mines in the Beauce region of southern
Quebec. The campaign encountered no interruption or significant technical
problems and was successful in sampling the targeted sectors intersecting
several occurrences of volcaniclastic beds which are considered favourable for
gold discoveries.


Four NQ diameter diamond drill holes were sunk for a total length of 1,038
metres, including approximately 950 metres in bedrock. This short campaign
tested various targets including (1) the immediate up ice area of the gold-rich
buried till that was sampled from last spring's Sonic drill program (2) two
magnetic lows and (3) an EM conductor axis, with both (2) and (3) known from a
historical airborne geophysical survey. A quick in the field descriptive log was
performed of the cores. The holes intersect pyritic black slate and
volcaniclastic beds of the Beauceville Formation with frequent quartz veining.
Bedding variation along core and abundant quartz veins (up to 50%) suggest that
a fold hinge was intersected in hole RG11-02 which corresponds to the magnetic
low target. The volcaniclastics beds which represents a favourable unit for gold
are present in hole RG11-01 to RG11-03 and remained to be confirmed in hole
RG11-04. These are grey to light grey coloured rocks of heterogeneous
granulometry. Visual examination revealed local pyrite, pyrrhotite or
chalcopyrite mineralization within the volcanic beds. Visible alterations
includes silicification, epidotization, quartz veining lixiviation and
brecchiation.


The cores will be brought to a dedicate space where they will be logged, split
and sampled, after which the samples are to be submitted for assay. Assay
results will be communicated to shareholders at a later date.


As previously reported, (Uragold press releases of April 18 and July 5, 2011)
Uragold confirmed the existence of a buried orange-brown gold bearing till where
analysis of recovered gold grains from Uragold's sonic drill program suggests a
proximity to a bedrock source of gold, within the limits of the UBR Property.


Dr. Remi Charbonneau PhD (P. Geo) of Inlandsis Consultants, is a Qualified
Person as defined by National Instrument 43-101, supervised the preparation of
the information in this news release. 


About the Beauce Placer Gold Property

The Beauce Placer property was the site of Canada's first gold rush in the
1850's, years before the Klondike gold rush. Two of Canada's largest gold
nuggets, the Kilgour nugget at 52 ounces and the McDonald nugget at 45 ounces,
came from the Gilbert River, which flows through the property.


In the early 1960's, the property was the site of a major placer gold mining
operation. The Beauce Placer Mining Co. was the only commercial placer gold
mining operation in eastern North America.


Uragold is currently working with GENIVAR Inc.'s Mining group to obtain the
required permits from Quebec's MNRF (Ministere des Ressources naturelles et de
la Faune) and the MDDEP (Ministere du Developpement durable, de l'Environnement
et des Parcs) to allow an expanded bulk sampling program of 25,000 tonnes. The
increased bulk sampling tonnage will provide a better understanding of the
economic potential of the placer deposit and evaluate a potential future mining
method. 


About Uragold Bay Resources Inc.

Uragold Bay Resources is a junior exploration company trading on the TSX Venture
Exchange under the symbol UBR. Uragold is a top claims holder in Southern
Quebec's Appalachian belt. The properties benefit from extensive historical
exploration work and from well-established infrastructure thereby helping to
reduce exploration risks. Uragold's business model focuses on developing, a
series of potential small scale low-cost gold mining operations for their
potential in generating cash flow while simultaneously exploring core properties
that hold the potential for the discovery of blue sky gold deposits like the
MacDonald project.

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