UBR

Uragold Bay Resources Inc. (TSX VENTURE:UBR), Uragold is pleased to announce
that it has closed a hard cash non-brokered private placement for a total
placement of $66,000.00. This will result in a total sale of 66 units (Units) at
a subscription price of $1,000.00. Each Unit being comprised of 20,000 common
share and 20,000 common share purchases warrant (the Warrants") of the Company.
Each Warrant will entitle the holder thereof to purchase one common share of the
capital stock of the Company at an exercise price of $0.10 during a period of 24
months from the date of closing of the placement. Each share issued pursuant to
the placement will have a mandatory four (4) month holding period from the date
of closing of the placement. The private placement is subject to regulatory
approval.


The immediate closing of this financing, combined with issuance of the 8
millions shares to the vendors, already approved by the exchange, enable the
Corporation to start the process of transferring the claims title of the Asbury
Graphite Mine and Canadian Graphite Property to Uragold and complete the 100%
acquisition of these claims. 


In connection with this placement, the Corporation will pay cash finder's fees
of $ 5,000 to EMD Financial Inc.


About EMD Financial Inc.

EMD Financial Inc is an Exempt Market Dealer, registered in Quebec and serving
clients in Quebec, Ontario and Alberta. EMD specializes in equity private
placement financings for publicly traded micro-cap opportunities in the resource
sector. Furthermore EMD offers consulting services on mergers, acquisitions, and
investment banking catered specifically to the client's situation. 


Patrick Levasseur, president and COO of Uragold stated. "The Asbury project is
similar to our Beauce Placer project, this property benefits from extensive
historical exploration work, well-established infrastructure and the real
potential of developing a mining operation."


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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