Uragold (the "Company""UBR") (TSX VENTURE:UBR), is pleased to announce that it
has closed a first tranche of the non-brokered private placement announced in
the November 26, 2012 press release for a total placement of $69,000.00. This
will result in sale of up to 1,150,000 units (Units) at a subscription price of
$0.06. Each Unit being comprised of 1 common share and 1/2 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.


Due to interested investors, the total placement will be increased to
$350,000.00. A second tranche of $281,000.00 is expected to close next January
2013. 


Also, Uragold reports that the Company has granted a total of 2,750,000 stock
options to Members of the Board, officers and to a consultant of the Company.
The stock options are exercisable for a period of five years at an exercise
price of $0.12 per share. The options were granted under and are subject to the
terms and conditions of the Company's Stock Option Plan.


About Uragold Bay Resources Inc.

Uragold Bay Resources is a junior exploration company trading on the TSX Venture
under the symbol UBR. Uragold holds gold properties in Southern Quebec's
Appalachian belt. Uragold's business model focuses on developing small scale
low-cost mining operations for their cash flow generating potential while
simultaneously exploring core properties that hold the potential for the
discovery of blue sky gold deposits like the MacDonald project. Uragold's Beauce
Gold project is in its final permitting stage for a 20 years mining lease for a
placer gold mining operation.


Shares outstanding: 44,184,327

FOR FURTHER INFORMATION PLEASE CONTACT: 
Bernard J. Tourillon
Chairman and CEO
(514) 846-3271


Patrick Levasseur
President and COO
(514) 846-3271
www.uragold.com