UBR

Uragold Bay Resources Inc. (TSX VENTURE:UBR) is pleased to announce that it has
received from the TSX Venture the conditional approval for the consolidation of
its issued and outstanding common shares of the Corporation be consolidated on
the basis of one (1) post-Consolidation Common Share for every four (4)
pre-Consolidation Common Shares (the "Consolidation Ratio") as previously
announced on June 26, 2012. 


The Consolidation would currently reduce the Corporation's 168,990,532 issued
and outstanding Common Shares to approximately 42,247,633 Common Shares. The
number and exercise or conversion price of outstanding stock options and
warrants will be proportionately adjusted based upon the Consolidation Ratio. 


Contemporaneously with the consolidation, the company will arrange a
non-brokered private placement for a total placement of up to $250,000.00.
Directors of the Corporation have already committed $45,000 for this placement.
This will result in sale of up to 3,125,000 units (Units) at a post
consolidation subscription price of $0.08. Each Unit being comprised of 1 common
share and 1 common share purchase 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 placement is subject to standard
regulatory approvals.


Proceeds of the placement will be used to finalize the Beauce Placer bulk
sampling permits. 


Other Corporate Announcement

As previously announced on June 7, 2012, the Corporation has settled a debt of
$80,000.00 by issuing the service provider 1,600,000 common shares and 800,000
warrants. 


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.


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.


Shares outstanding: 168,990,532

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