UBR

Uragold Bay Resources Inc. (TSX VENTURE:UBR), Uragold announces that the
Directors of the Corporation have adopted a resolution to consolidate the issued
and outstanding common shares of the Corporation into new consolidated common
shares, whereby every four (4) existing common shares being consolidated into
one (1) new common share. That resolution shall be submitted to shareholders of
the Corporation for approval and ratification at the next Corporation's AGM
scheduled to be held on June 19, 2012 and is subject to the TSX Venture Exchange
approval. The resolution will give the board the option, but not the obligation,
to consolidate the stock not later than nine (9) months from the date of
approval by shareholders. The final decision of the board will be base on
relevant market conditions. 


The Management of the Corporation proposes the consolidation of its share
capital and the principal purposes thereof are to enhance the Corporation's
liquidity, the marketability of common shares and shareholders' profitability
and to facilitate fund raising, giving the Corporation a greater chance to meet
its working capital needs for it's mining and exploration projects. 


Patrick Levasseur, president and COO of Uragold stated. "We have two exciting
properties that could potentially be operating mines in the near future. Present
market conditions are impacting our capacity to develop our projects under an
appropriate time line. A consolidation would enable Uragold to both pursue its
bulk sampling/trial mining of the Beauce Placer Gold project once the required
permits are granted and work on the development of the Asbury Graphite Mine
property." 


About Uragold Bay Resources Inc.

Uragold Bay Resources is a junior exploration company trading on the TSX Venture
Exchange under the symbol UBR. Uragold holds gold properties in Southern
Quebec's Appalachian belt and also holds the Asbury Graphite Mine property in
the Laurentians of Quebec. 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 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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