Uragold Bay Resources Inc. (TSX VENTURE:UBR), Uragold is pleased to announce
that it has closed a non-brokered private placement for a total placement of
$126,000.00. This will result in a total sale of 2,520,000 units (Units) at a
subscription price of $0.05. 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 private placement is subject to regulatory approval.

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.