Montreal, Quebec / Uragold Bay Resources Inc. (“Uragold”) (TSX Venture: UBR) is pleased to announce that Mr. Peter Smith has been appointed a director to the company’s Board of Directors effective February 20, 2015.
Peter H. Smith PhD, P.Eng. is a Director and founder of Fancamp Exploration Ltd. and is presently Chairman of the Board and President. He has been a Director of Fancamp Exploration Ltd. and its predecessor company, Fancamp Resources Ltd, since January 1986. He is presently a Director of Lamelee Iron Ore Ltd., since May of 2014 and served as a Director of Argex Titanium Inc. from October 2009 to May 2013. He has served as a Director of Litewave Corp. and St. Georges Platinum Base Metals Ltd. since January 2010, leaving the latter company in October 2010. He was a Director of Golden Hope Mines Ltd from May 1997 to August 2009. He is a member of the Ontario Order of Professional Engineers and is a former Director of the Prospectors and Developers Association of Canada.
Patrick Levasseur, President and COO of Uragold stated: “I would like to welcome Mr. Smith to the board and look forward to his contributions. Peter brings to the Company decades of experience in the mining sector. He is a proven project incubator and developer.”
Other Corporate development:
The Company would like to make the following correction to its February 6 2015 Press Release regarding the acquisition of Morin Paleoplacer gold project located in the municipality of Saint-Augustin-de-Woburn in the Eastern Townships region of southern Quebec.
The terms of the acquisition in the press release should have mentioned that Each Unit is comprised of one (1) common share and one half (1/2) common share purchase warrant (“Warrant”) of the Company and not one full common share purchase warrant.
Shares For Services Program
In accordance with the agreement between Uragold and AGORACOM (see Uragold press release July 18, 2014) Uragold Board has approved the issuance of 282,500 common shares at a deemed price of $0.05 per share for the outstanding debt of $14,125 for services rendered during the period ending January 15, 2015.
About Uragold Bay Resources Inc.
Uragold Bay Resources is a TSX-V listed Gold and High Purity Quartz exploration junior focused on generating free cash flow from mining operations. Our business model is centered on developing mining projects suited for smaller-scale start-up, (Capex < C$10M), that will generate high yield returns (IRR > 50%). Uragold will reach these goals by developing Quebec’s first placer mine in 50 years, the Beauce Placer Project developing and, in partnership with Golden Hope Mines, the Bellechasse-Timmins Gold Deposit.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information contact
Bernard J. Tourillon, Chairman and CEO
Patrick Levasseur, President and COO
Tel: (514) 846-3271
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