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Uragold Appoints Peter Smith Director of The Corporation

Posted by AGORACOM-JC at 2:07 PM on Monday, February 23rd, 2015

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

www.uragold.com

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Uragold Acquires The Morin Paleoplacer Gold Project

Posted by AGORACOM-JC at 2:42 PM on Friday, February 6th, 2015

Montreal, Quebec / February 6, 2015 / Uragold Bay Resources Inc. (“Uragold”) (TSX Venture: UBR) is pleased to announce that it has acquired a 100% interest in the Morin Paleoplacer gold project located in the municipality of Saint-Augustin-de-Woburn in the Eastern Townships region of southern Quebec.

Salient point of the transaction

The Corporation is making an arms length transaction with a private vendor whereby, subject to regulatory approval, we will be acquiring 100% of the 5 claims that constitute the Morin Paleoplacer gold project through the issuance of 1,100,000 units. Each Unit is comprised of one (1) common share and one (1) common share purchase warrant (“Warrant”) 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 $ 0.07 during a period of 36 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.

About the Morin Paleoplacer projects:

The property is 34 km south of Lac Megantic. Historical documents show that the Morin property was intermittently mined for placer gold from the 1880s to the 1920s. The volume of gold produced is unknown, however, in early 1900s, the Woburn Gold Mines found an 8 ounce nugget. The nugget is apparently on display at a museum in Ottawa. The property’s sedimentary geology is similar to the company’s Beauce Paleoplacer Gold property. Of interest to the company was a study of gold grains using an electron microscope showing the gold as being very pure and delicate. Most likely from an oxidized auriferous till similar to the Beauce property. (Source: GM55045 Brassard 1997, MB8605 Indice auriferes dans le sud-est du Quebec, 1986, Lalond).

A qualified person has not verified the relevance and reliability of the properties outlined above. All the information on exploration potential herewithin presented is historical in nature and while relevant, the information was obtained before the implementation of National Instrument 43-101 and as such does not meet National Instrument 43-101 reporting standards. The historical estimate should not be relied upon until the Company can confirm them.

Patrick Levasseur, President and COO of Uragold stated, “This acquisitions represent a unique opportunity for Uragold, discovering another Beauce Paleoplacer type deposit close to our Beauce Paleoplacer would be very exciting.”

Private Placement

Uragold is also pleased to announce that it has closed a non-brokered private placement, which is comprised of 3,290,000 units (“Unit”) at $0.05 per Unit for gross proceeds of $164,500. The net proceeds from the Private Placement will be used for general corporate expenditures and to finance the previously announced Quebec Quartz go forward plans.

Each Unit is comprised of one (1) common share and one (1) common share purchase warrant (“Warrant”) 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 $ 0.07 during a period of 36 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.

Mr. Levasseur commented: “While weak financial markets in the mining and exploration sectors have made external funding efforts challenging, this second hard cash private placement validate Uragold strategy of developing Quebec Quartz’s exciting high purity quartz projects while developing two gold mines and one high value exploration project in the Beauce region of Quebec.”

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

www.uragold.com

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Amended: Quebec Quartz Assay Results for Malvina Surpasses Expectations, Samples up to 99.8% SiO2, Validated as Suitable for Silicon Metal and High Purity Quartz Applications

Posted by AGORACOM-JC at 11:57 AM on Monday, February 2nd, 2015

Montreal, Quebec / Uragold Bay Resources Inc. (“Uragold”) (TSX Venture: UBR) is pleased to announce that it’s wholly owned subsidiary, Quebec Quartz, has received assay results for samples taken on the Malvina Quartz (Silica) property located in the Eastern Township, some 200 km east of Montreal and 5 km from the Quebec-Vermont border.

The corrected SiO2 average for the 8 samples assayed is 99.57%, ranging from 99.31% to 99.75%. These results validate the fact that the quartz material from the Malvina Property would make suitable feedstock for Silicon Metal production and applications requiring high purity quartz.

Patrick Levasseur, President and COO of Uragold stated, “We are extremely happy with these results. They have surpassed our initial expectations and validated our decision to focus on our Malvina property since quartz mined from the region back in the 80’s was used for silicon metal production. Furthermore, the property is situated within 100 Km from a deep-sea harbour that can handle bulk shipments for worldwide exports, less then 500 Km from the future FerroAtlantica Port Cartier Silicon Metal production facilities and less then 100 Km from Globe Specialty Metals Becancour silicon metal production facilities.”

A 1995 exploration campaign indicates that the Malvina mineralization appears to take place in a lens that is 15m by 6m. Samples took from this lens revealed high purity quartz (99.74% SiO2). The Malvina showing hosted of a producing quarry in the past. (GM53696: Pierre Vincent, Constellar Geosciences. 1995).

All the information on exploration potential herewithin presented is historical in nature and while relevant, the information was obtained before the implementation of National Instrument 43-101 and as such does not meet National Instrument 43-101 reporting standards. The historical estimate should not be relied upon until the Company can confirm them.

IMPORTANCE OF QUARTZ (SILICA)

Quartz (SiO2) is one of the most abundant minerals. It occurs in many different settings and in many different rock types. However, High Purity Quartz deposits with low impurities are rare and only a few deposits are suitable in volume, quality and amenability to be tailored to refining methods for specialty high purity applications.

High Purity Quartz (HPQ), and Silicon Metal is used in large part in the aluminum industry while Ultra High Purity Quartz (UHPQ) has become one of today’s key strategic minerals with applications in high-tech industries that include semiconductors, LCD displays, fused quartz tubing, microelectronics, solar silicon applications and recently, Silicon Anode Lithium Batteries.

GO FORWARD PLAN:

The Corporation intends to advance the development of the Malvina project by completing the following steps during Q1 & Q2 2015:

  1. 1.Send material to specialized laboratories to find the best beneficiation process to transform the Malvina Quartz material into Ultra High Purity Quartz for advanced material and pharmaceutical applications.

High Purity Quartz beneficiated to 99.998% Si02 can command prices up to
US$ 6,000/T (Source: Dorfner Anzaplan). The Corporation intends to focus its interest on this segment of the market.

Run of mine quartz for Silicon Metal usage commands sale prices averaging between US$ 100/T to US$ 250/T.

  1. 2.Send quartz samples to Silicon Metal and other material buyers.

The chemistry of the Malvina quartz material meets end-user requirements for Silicon Metal production. Multiple end-users that have demonstrated interest in our projects are now requesting samples for thermal tests.

  1. 3.Evaluating the Property Potential.

The exploration potential of the 15m by 6m lens estimated in 1995 needs to be confirmed, map and measured to 43-101 standards.

PARTIAL TABLE OF RESULTS:

Report Number: A14-09140
Analyte Symbol SiO2 Al2O3 Fe2O3(T) LOI Total SiO2
Unit Symbol % % % % %
Detection Limit 0.01 0.01 0.01 0.01 0.01
Analysis Method FUS-XRF FUS-XRF FUS-XRF FUS-XRF FUS-XRF ADJUSTED
41751 98.66 0.16 0.02 0.11 98.96 99.70%
41751-B 99.81 0.19 0.01 0.14 100.20 99.61%
41752 98.69 0.49 0.02 0.17 99.38 99.31%
41752-B 98.21 0.26 0.02 0.18 98.68 99.52%
41752-C 98.53 0.30 0.01 0.17 99.02 99.51%
41753 98.34 0.11 0.02 0.18 98.65 99.69%
41754 98.91 < 0.01 0.05 0.13 99.16 99.75%
41754-B 99.23 0.22 0.06 0.16 99.73 99.50%
Average 98.80 0.25 0.03 0.16 99.22 99.57%

The total exploration area of the Martinville deposit is 1.21 Km2. In order to have a good sampling spread, 8 samples were taken at different zones of the quartz vein outcrop.

Assay results confirm that the material is low to very low in all the major contaminants: Al2O3 average: 0.25%, range from <0.01% to 0.49%, Fe2O3 average: 0.03%, range from 0.01% to 0.06%, Co3O4 all samples <0.005%, CuO all samples <0.005%, MnO all samples <0.001%, NiO 6 samples <0.003%, one sample 0.003% and one sample 0.004%, MgO all samples <0.01%, CaO all samples <0.01%, Na2O all samples <0.01%, K2O 6 samples <0.01%, the other 0.01% and 0.03%, TiO2 2 samples <0.01%, 5 other 0.01% and one sample 0.002%, P2O5 average: 7 samples <0.01%, 1 other 0.05%, Cr2O3 all samples <0.01%, V2O5 all samples <0.003%.

The material was first sent to the INRS (Institut National de la Recherche Scientifique) laboratory in Quebec City to be prepared for testing for Silica values. 8 prepared samples were sent to the Activation Laboratories in Ancaster, Ontario for whole rock and trace elements assay (FUS X-Ray Fluorescence (“XRF”)).

The average loss in ignition (“LOI”) (material and moisture burned off during the assays) for the 8 samples is 0.16% (ranging between 0.11% and 0.18%). This suggest that a certain percentage of the alkali metals are present as a carbonate molecule, and with an average laboratory total of 99.22% (ranging between 98.65 % and 100.20%), a correction for the loss of carbonate is required in order to present the actual SiO2 grade of the samples.


Click Image To View Full Size

Picture 1: Field sample from the Malvina Property, # 41753 Si02 99.69%


Click Image To View Full Size

Picture 2: Quartz vein outcrop at the Malvina Property.

Mr. Robert Gagnon, P. Geo, is a Qualified Person as defined by National Instrument 43-101, supervised the preparation of the information in this news release.

All the information on exploration potential herewithin presented is historical in nature and while relevant, the information was obtained before the implementation of National Instrument 43-101 and as such does not meet National Instrument 43-101 reporting standards. The historical estimate should not be relied upon until the Company can confirm them.

About Quebec Quartz

Uragold 100 % wholly owned subsidiary, Quebec Quartz, by virtue of being a first mover into this market, succeeded in becoming the largest holder of distinct High Purity Quartz properties in Quebec. Quebec Quartz strategic portfolio of High Purity Quartz (+99.+% SiO2) deposits and closed silicon metal mines in Quebec represent a unique and valuable asset. Quebec Quartz aims to become a leading supplier of Ultra High Purity Quartz

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

www.uragold.com/Quebec-Quartz.php

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Quebec Quartz Assay Results for Malvina Surpasses Expectations, Samples up to 99.8% SiO2, Validated as Suitable for Silicon Metal and High Purity Quartz Applications

Posted by AGORACOM-JC at 11:35 AM on Monday, February 2nd, 2015

  • Corrected SiO2 average for the 8 samples assayed is 99.57%, ranging from 99.31% to 99.75%
  • Results validate the fact that the quartz material from the Malvina Property would make suitable feedstock for Silicon Metal production and applications requiring high purity quartz

Montreal, Quebec / Uragold Bay Resources Inc. (“Uragold”) (TSX Venture: UBR) is pleased to announce that it’s wholly owned subsidiary, Quebec Quartz, has received assay results for samples taken on the Malvina Quartz (Silica) property located in the Eastern Township, some 200 km east of Montreal and 5 km from the Quebec-Vermont border.

The corrected SiO2 average for the 8 samples assayed is 99.57%, ranging from 99.31% to 99.75%. These results validate the fact that the quartz material from the Malvina Property would make suitable feedstock for Silicon Metal production and applications requiring high purity quartz.

Patrick Levasseur, President and COO of Uragold stated, “We are extremely happy with these results. They have surpassed our initial expectations and validated our decision to focus on our Malvina property since quartz mined from the region back in the 80’s was used for silicon metal production. Furthermore, the property is situated within 100 Km from a deep-sea harbour that can handle bulk shipments for worldwide exports, less then 500 Km from the future FerroAtlantica Port Cartier Silicon Metal production facilities and less then 100 Km from Globe Specialty Metals Becancour silicon metal production facilities.”

A 1995 exploration campaign indicates that the Malvina mineralization appears to take place in a lens that is 15m by 6m. Samples took from this lens revealed high purity quartz (99.74% SiO2). The Malvina showing hosted of a producing quarry in the past. (GM53696: Pierre Vincent, Constellar Geosciences. 1995).

All the information on exploration potential herewithin presented is historical in nature and while relevant, the information was obtained before the implementation of National Instrument 43-101 and as such does not meet National Instrument 43-101 reporting standards. The historical estimate should not be relied upon until the Company can confirm them.

IMPORTANCE OF QUARTZ (SILICA)

Quartz (SiO2) is one of the most abundant minerals. It occurs in many different settings and in many different rock types. However, High Purity Quartz deposits with low impurities are rare and only a few deposits are suitable in volume, quality and amenability to be tailored to refining methods for specialty high purity applications.

High Purity Quartz (HPQ), and Silicon Metal is used in large part in the aluminum industry while Ultra High Purity Quartz (UHPQ) has become one of today’s key strategic minerals with applications in high-tech industries that include semiconductors, LCD displays, fused quartz tubing, microelectronics, solar silicon applications and recently, Silicon Anode Lithium Batteries.

GO FORWARD PLAN:

The Corporation intends to advance the development of the Martinville project by completing the following steps during Q1 & Q2 2015:

  1. 1.Send material to specialized laboratories to find the best beneficiation process to transform the Martinville Quartz material into Ultra High Purity Quartz for advanced material and pharmaceutical applications.

High Purity Quartz beneficiated to 99.998% Si02 can command prices up to
US$ 6,000/T (Source: Dorfner Anzaplan). The Corporation intends to focus its interest on this segment of the market.

Run of mine quartz for Silicon Metal usage commands sale prices averaging between US$ 100/T to US$ 250/T.

  1. 2.Send quartz samples to Silicon Metal and other material buyers.

The chemistry of the Martinville quartz material meets end-user requirements for Silicon Metal production. Multiple end-users that have demonstrated interest in our projects are now requesting samples for thermal tests.

  1. 3.Evaluating the Property Potential.

The exploration potential of the 15m by 6m lens estimated in 1995 needs to be confirmed, map and measured to 43-101 standards.

PARTIAL TABLE OF RESULTS:

Report Number: A14-09140
Analyte Symbol SiO2 Al2O3 Fe2O3(T) LOI Total SiO2
Unit Symbol % % % % %
Detection Limit 0.01 0.01 0.01 0.01 0.01
Analysis Method FUS-XRF FUS-XRF FUS-XRF FUS-XRF FUS-XRF ADJUSTED
41751 98.66 0.16 0.02 0.11 98.96 99.70%
41751-B 99.81 0.19 0.01 0.14 100.20 99.61%
41752 98.69 0.49 0.02 0.17 99.38 99.31%
41752-B 98.21 0.26 0.02 0.18 98.68 99.52%
41752-C 98.53 0.30 0.01 0.17 99.02 99.51%
41753 98.34 0.11 0.02 0.18 98.65 99.69%
41754 98.91 < 0.01 0.05 0.13 99.16 99.75%
41754-B 99.23 0.22 0.06 0.16 99.73 99.50%
Average 98.80 0.25 0.03 0.16 99.22 99.57%

The total exploration area of the Martinville deposit is 1.21 Km2. In order to have a good sampling spread, 8 samples were taken at different zones of the quartz vein outcrop.

Assay results confirm that the material is low to very low in all the major contaminants: Al2O3 average: 0.25%, range from <0.01% to 0.49%, Fe2O3 average: 0.03%, range from 0.01% to 0.06%, Co3O4 all samples <0.005%, CuO all samples <0.005%, MnO all samples <0.001%, NiO 6 samples <0.003%, one sample 0.003% and one sample 0.004%, MgO all samples <0.01%, CaO all samples <0.01%, Na2O all samples <0.01%, K2O 6 samples <0.01%, the other 0.01% and 0.03%, TiO2 2 samples <0.01%, 5 other 0.01% and one sample 0.002%, P2O5 average: 7 samples <0.01%, 1 other 0.05%, Cr2O3 all samples <0.01%, V2O5 all samples <0.003%.

The material was first sent to the INRS (Institut National de la Recherche Scientifique) laboratory in Quebec City to be prepared for testing for Silica values. 8 prepared samples were sent to the Activation Laboratories in Ancaster, Ontario for whole rock and trace elements assay (FUS X-Ray Fluorescence (“XRF”)).

The average loss in ignition (“LOI”) (material and moisture burned off during the assays) for the 8 samples is 0.16% (ranging between 0.11% and 0.18%). This suggest that a certain percentage of the alkali metals are present as a carbonate molecule, and with an average laboratory total of 99.22% (ranging between 98.65 % and 100.20%), a correction for the loss of carbonate is required in order to present the actual SiO2 grade of the samples.


Click Image To View Full Size

Picture 1: Field sample from the Malvina Property, # 41753 Si02 99.69%


Click Image To View Full Size

Picture 2: Quartz vein outcrop at the Malvina Property.

Mr. Robert Gagnon, P. Geo, is a Qualified Person as defined by National Instrument 43-101, supervised the preparation of the information in this news release.

All the information on exploration potential herewithin presented is historical in nature and while relevant, the information was obtained before the implementation of National Instrument 43-101 and as such does not meet National Instrument 43-101 reporting standards. The historical estimate should not be relied upon until the Company can confirm them.

About Quebec Quartz

Uragold 100 % wholly owned subsidiary, Quebec Quartz, by virtue of being a first mover into this market, succeeded in becoming the largest holder of distinct High Purity Quartz properties in Quebec. Quebec Quartz strategic portfolio of High Purity Quartz (+99.+% SiO2) deposits and closed silicon metal mines in Quebec represent a unique and valuable asset. Quebec Quartz aims to become a leading supplier of Ultra High Purity Quartz

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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Uragold Increases its Gold Exploration Potential for the Beauce Paleoplacer Project, Closes the Fancamp Claims Acquisition and Files a New NI 43-101 Technical Report

Posted by AGORACOM-JC at 11:31 AM on Thursday, January 22nd, 2015

Montreal, Quebec / January 22, 2015 / Uragold Bay Resources Inc. (“Uragold”) (TSX Venture: UBR), is pleased to announce that it has filed a new technical report in accordance with National Instrument 43-101, entitled, “Technical Report on the Beauce Paleoplacer Property, South-Eastern Quebec” (“Technical Report”) with Canadian securities regulators. The project is located in the municipality of Saint-Simon-les-Mines in the Beauce region of Southern Quebec. The Technical Report is available at www.sedar.com and on the Company’s website.

This report was prepared in order to fulfill TSX-Venture requirement regarding the Company’s acquisition of the Fancamp claims (please refer to news release dated September 17, 2014 and October 22, 2014 for more detail).

The closing of the Fancamp claims acquisition increase Uragold Gold Exploration Target from the original range of 23,000 ounces (741,000 m3 @ 0.97 g Au/m3) and 140 000 ounces (741,000 m3 @ 5.9 g Au/m3) to a new Gold Exploration Target, for the entire historical paleoplacer channel now controlled by Uragold, ranging between 61,000 ounces (2,200,000 m3 @ 0.87 g Au/m3) and 366,000 ounces* (2,200,000 m3 @ 5.22 g Au/m3).

SALIENT POINT OF THE NEW EXPLORATION TARGET DELINEATION:

  • – Sonic Drilling during 2011 revealed that the gold bearing unit corresponded to a brown clayey diamict and a saprolite that is at least partly of a glacial origin, rather than purely alluvial gravel. These units are generally just above the Basement rocks and frequently gradational onto it;- The polygonally calculated “Exploration Target” is estimated as 1 892 503 grams (60,844 ounces) contained within 2,157,171 m3 of saprolite and brown tillite under some 9 248 334 m3 of overburden (giving a stripping ratio of 1: 4.3) at an average grade of around 0.877 g/ m3 for the brown diamictite and the saprolite combined;

    – Evidence from the historical drilling versus the Beauce Placer Mining Company production figures suggests that due to the “nugget effect” the final gold recovery could be significantly higher (up to 6 times) than the drilling estimate of the gold volume;

    – This equates to a possible range between 61,000 ounces (2,200,000 m3 @ 0.87 g Au/m3) and 366,000 ounces* (2,200,000 m3 @ 5.22 g Au/m3) using the x6 multiplier

*All information such as the historical estimates or the exploration target on the Beauce Paleoplacer Project area are base on historical data from Roche, Laval University and the Geological Survey of Canada that pre-date 2001, therefore they do not meet current National Instrument 43-101 reporting standards and should not be relied upon until the Company can confirm them.

Patrick Levasseur, President and COO of Uragold stated that: “The closing of the acquisition is another key milestone in the development of our Gold assets… the new exploration target and potential, changes the entire dynamics of the Beauce Paleoplacer Gold project, as it significantly increase the scope and size of the project.”

With the acquisition now completed, Uragold can now focus its attention on securing a non-dilutive financing required to complete a 9,000 cubic meters (m3) of auriferous till pilot-scale operation (Phase 1). The pilot-scale operation is needed to allow the corporation to establish a statistical distribution model for the nugget effect to the gold grade of the buried paleoplacer channel. This step is required to establish a resource category needed to complete the Feasibility Study (“FS”) requirement of Quebec’s the new Mining Act.

As previously mentioned, Quebec’s Ministry of Natural Resources will grant Uragold a “conditional” Mining Lease over the Rang Chaussegros to complete Phase 1 once an Internal Preliminary Economic Assessment (PEA) and an approved Closure Plan is submitted. UBR will be authorized to start full-scale production (Phase 2) once a Feasibility Study (“FS”) is submitted.

The new NI43-101 Technical report also address issues identified by l’Autorite des marches financiers du Quebec (“AMF) as previously disclosed on October 17, 2014.

Mr. Vivian Stuart-Williams, SACNASPS, working under Special Authorization #308 of the Quebec Order of Geologist, is an Independent Qualified Person as defined by National Instrument 43-101 that supervised the preparation of the information in this news release.

The Filing of the technical report was the last outstanding issue Uragold needed to comply with in order to receive TSX venture approval of the closing of the acquisition (Please refer to Uragold Oct 22, 2014 press release for more details)

SALIENT POINTS OF THE FANCAMP CLAIMS ACQUISITION:

  1. 1.Uragold is acquiring the claim block (herein, collectively the “Claims”) (“The Acquisition”) through:
    1. a.As consideration for the transfer and the sale of the Claims and related assets to Uragold, Uragold will issue, at the closing an amount equal to 8,000,000 Uragold Units. Each Unit will be comprised of 1 common share and 1 common share purchase warrant (the Warrant”) of Uragold.
    2. b.Each full Warrant will entitle Fancamp to purchase one common share of the capital stock during a period of 60 months from the date of the issuance of the Units. Each Warrant shall entitle Fancamp to purchase one (1) additional common share of Uragold at a price of C$0.20 per share during the first 24 months from the date of issuance of the units, at a price of C$0.30 from the start of the 25th month until the end of the 48th month, and at a price of C$0.40 per share at the start of the 49th month until the end of the 60th month.

Contemporaneously with the signing of the definitive Agreement:

    1. c.Uragold will make cash payment of C$25,000 to Fancamp not later than fifteen (15) months of the Signing of the definitive Agreement.
    2. d.Uragold will finance C$400,000 worth of exploration work on the Claims over the next 4 years, under the following schedule, the first fifteen (15) months: C$50,000, Year 2: C$75,000, year 3: C$100,000 and year 4: C$175,000.
    3. e.Uragold has granted Fancamp a three and one half percent (3.5 %) Gross Metal Royalty on any gold production extracted from the 32 Claim block acquired by Uragold.
  1. 2.Fancamp and Uragold have signed aCovenant regarding the sale of Uragold shares held by Fancamp.
    1. a.Included in the Covenant is a Standstill agreement whereby Fancamp agrees not to sell any of its Uragold shares (“Standstill”) during a twelve (12) month period (“Standstill Period”) starting on the day of the issuance of the Uragold Units to Fancamp.
    2. b.The Covenant also includes a Change of Control Clause whereby in the event that a Change of Control event occurs at either Parties, then either the Fancamp Standstill Period will be automatically increased by thirty-six (36) months or a new thirty-six (36) months Standstill Period will start, or in the case that the change of control occurs at Uragold, then the standstill agreement will lapse.
    3. c.So long as Fancamp owns at least ten percent (10%) of the issued and outstanding Uragold Shares, Fancamp can have one nominee elected as a director to the Uragold board of directors.
  2. 3.Fancamp nominee Mr. Peter H Smith will join the Board of Uragold.

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.

  1. 4.Once Gold Mining operations have begun on the Claims purchased, Uragold will make a one-off cash payment of C$500,000 to Fancamp.
  2. 5.Pursuant to an agreement entered into between Fancamp and a private vendor as of December 12, 2005, the Vendor currently holds a one point five percent (1.5 %) net smelter return royalty affecting the Claims, of which one percent (1%) may be purchased at the sole discretion of Fancamp, or of Uragold as of the date hereof, for a payment of one million dollars ($1,000,000), (the “NSR Royalty”).

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
www.uragold.com

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Quebec Quartz Assay Results for Martinville Surpass Expectations, Validated as Suitable for Silicon Metal and High Purity Quartz Applications

Posted by AGORACOM-JC at 12:45 PM on Tuesday, January 13th, 2015

Montreal, Quebec / January 13, 2015 / Uragold Bay Resources Inc. (“Uragold”) (TSX Venture: UBR) is pleased to announce that it’s wholly owned subsidiary, Quebec Quartz, has received assay results for samples taken on the Martinville Quartz (Silica) property located in Clifton county in the Eastern Townships region of Quebec.

The corrected SiO2 average for the 7 samples assayed is 99.63%, ranging from 99.42% to 99.82%. These results validate the fact that the quartz material from the Martinville Property would make suitable feedstock for Silicon Metal production and applications requiring high purity quartz.

Patrick Levasseur, President and COO of Uragold stated, “We are extremely happy with these results. They have surpassed our initial expectations and validated our decision to focus on our Martinville property since quartz mined from the region back in the 80’s was used for silicon metal production. Furthermore, the property is situated within 100 Km from a deep-sea harbour that can handle bulk shipments for worldwide exports, less then 500 Km from the future FerroAtlantica Port Cartier Silicon Metal production facilities and less then 100 Km from Globe Specialty Metals Becancour silicon metal production facilities.”

In 1995, a geophysical survey resulted in an exploration potential estimated at over 1,000,000 tons of SiO2 using the 200 m surface length of the quartz vein, with an average width of between 2 m and 23 m and assuming a continuation up to 30 M of depth. (GM53696: Pierre Vincent, Constellar Geosciences. 1995.).

All the information on exploration potential herewithin presented is historical in nature and while relevant, the information was obtained before the implementation of National Instrument 43-101 and as such does not meet National Instrument 43-101 reporting standards. The historical estimate should not be relied upon until the Company can confirm them.

IMPORTANCE OF QUARTZ (SILICA)

Quartz (SiO2) is one of the most abundant minerals. It occurs in many different settings and in many different rock types. However, High Purity Quartz deposits with low impurities are rare and only a few deposits are suitable in volume, quality and amenability to be tailored to refining methods for specialty high purity applications.

High Purity Quartz (HPQ), and Silicon Metal is used in large part in the aluminum industry while Ultra High Purity Quartz (UHPQ) has become one of today’s key strategic minerals with applications in high-tech industries that include semiconductors, LCD displays, fused quartz tubing, microelectronics, solar silicon applications and recently, Silicon Anode Lithium Batteries.

GO FORWARD PLAN:

The Corporation intends to advance the development of the Martinville project by completing the following steps during Q1 & Q2 2015:

  1. 1.Send material to specialized laboratories to find the best beneficiation process to transform the Martinville Quartz material into Ultra High Purity Quartz for advanced material and pharmaceutical applications.

High Purity Quartz beneficiated to 99.998% Si02 can command prices up to
US$ 6,000/T (Source: Dorfner Anzaplan). The Corporation intends to focus its interest on this segment of the market.

Run of mine quartz for Silicon Metal usage commands sale prices averaging between US$ 100/T to US$ 250/T.

  1. 2.Send quartz samples to Silicon Metal and other material buyers.

The chemistry of the Martinville quartz material meets end-user requirements for Silicon Metal production. Multiple end-users that have demonstrated interest in our projects are now requesting samples for thermal tests.

  1. 3.Evaluating the Property Potential.

The exploration potential of over 1,000,000 tons of SiO2 estimated in 1995 needs to be confirmed, map and measured to 43-101 standards.

PARTIAL TABLE OF RESULTS:

Report Number: A14-09140
Analyte Symbol SiO2 Al2O3 Fe2O3(T) LOI Total SiO2
Unit Symbol % % % % %
Detection Limit 0.01 0.01 0.01 0.01 0.01
Analysis Method FUS-XRF FUS-XRF FUS-XRF FUS-XRF FUS-XRF ADJUSTED
41755 98.13 0.30 0.01 0.15 98.60 99.52%
41755-B 100.05 0.25 0.01 0.14 100.50 99.55%
41756 99.16 0.34 0.01 0.19 99.74 99.42%
41757 98.47 0.14 0.01 0.16 98.80 99.67%
41760 99.80 0.09 0.03 0.11 100.10 99.70%
41761 99.10 0.04 0.01 0.11 99.28 99.82%
41762 98.25 0.13 0.01 0.13 98.53 99.72%
AVERAGE 98.99 0.18 0.01 0.14 99.36 99.63%

The total exploration area of the Martinville deposit is 2.42 Km2. The deposit consists of hydrothermal quartz veins encased in schist’s. In order to have a good sampling spread, 7 samples were taken at different zones of the quartz vein outcrop.

Assay results confirm that the material is low to very low in all the major contaminants: Al2O3 average: 0.18%, range from <0.04% to 0.34%, Fe2O3 average: 0.01%, range from 0.01% to 0.03%, Co3O4 all samples <0.005%, CuO all samples <0.005%, MnO all samples <0.001%, NiO 6 samples <0.003%, one sample 0.008%, MgO all samples <0.01%, CaO 18 samples <0.01%, Na2O all samples <0.01%, K2O 5 samples <0.01%, the other 0.01% and 0.02%, TiO2 6 samples <0.01%, the other 0.01%, P2O5 average: 0.01%, range from 0.01% to 0.02%, Cr2O3 all samples <0.01%, V2O5 all samples <0.003%.

The material was first sent to the INRS (Institut National de la Recherche Scientifique) laboratory in Quebec City to be prepared for testing for Silica values. 7 prepared samples were sent to the Activation Laboratories in Ancaster, Ontario for whole rock and trace elements assay (FUS X-Ray Fluorescence (“XRF”)).

The average loss in ignition (“LOI”) (material and moisture burned off during the assays) for the 7 samples is 0.14% (ranging between 0.11% and 0.19%). This suggest that a certain percentage of the alkali metals are present as a carbonate molecule, and with an average laboratory total of 99.36% (ranging between 98.53 % and 100.5%), a correction for the loss of carbonate is required in order to present the actual SiO2 grade of the samples.


Click Image To View Full Size

Picture 1: Field sample from the Martinville Property


Click Image To View Full Size

Picture 2: Quartz vein outcrop at the Martinville Property. # 41757 Si02 99.66%, # 41756 Si02 99.42%, # 41755 Si02 99.55%,

Mr. Robert Gagnon, P. Geo, is a Qualified Person as defined by National Instrument 43-101, supervised the preparation of the information in this news release.

All the information on exploration potential herewithin presented is historical in nature and while relevant, the information was obtained before the implementation of National Instrument 43-101 and as such does not meet National Instrument 43-101 reporting standards. The historical estimate should not be relied upon until the Company can confirm them.

About Quebec Quartz

Uragold 100 % wholly owned subsidiary, Quebec Quartz, by virtue of being a first mover into this market, succeeded in becoming the largest holder of distinct High Purity Quartz properties in Quebec. Quebec Quartz strategic portfolio of High Purity Quartz (+99.+% SiO2) deposits and closed silicon metal mines in Quebec represent a unique and valuable asset. Quebec Quartz aims to become a leading supplier of Ultra High Purity Quartz

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

www.uragold.com/Quebec-Quartz.php

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Quebec Quartz Montpetit Quarry Assay Results, Validated as Suitable for High Purity Ferrosilicon and High Purity Quartz Applications

Posted by AGORACOM-JC at 12:28 PM on Thursday, January 8th, 2015

Montreal, Quebec /January 8, 2015 / Uragold Bay Resources Inc. (“Uragold”) (TSX Venture: UBR) is pleased to announce that it’s wholly owned subsidiary, Quebec Quartz, has received assay results for samples taken on the Montpetit Quarry quartz (silica) property located in the Monteregie Region of Quebec, some 40 km south of Montreal and 7 km south of Saint-Clotilde-de-Chateauguay

The corrected SiO2 average for 9 of the 10 samples assayed is 99.46 %, ranging from 99.16% to 99.67%. The corrected SiO2 average for the 10 samples assayed is 99.13%, ranging from 96.21% to 99.67%. These results validate the fact that a significant portion of the Quartz material from the Montpetit Property would make suitable feedstock for High Purity Ferrosilicon, and could be amenable to be beneficiated to Silicon Metal purity requirement and even high purity quartz sands.

Patrick Levasseur, President and COO of Uragold stated, “We are extremely happy with these results, just like our Roncevaux property, it shows that the Montpetit Quarry has great potential.” Mr. Levasseur added, “2015 will be an exciting year as we continue to develop Quebec Quartz’s exciting high purity silica projects while developing two gold mines in the Beauce region of Quebec.”

IMPORTANCE OF QUARTZ (SILICA)

Quartz (SiO2) is one of the most abundant minerals. It occurs in many different settings and in many different rock types. However, High Purity Quartz deposits with low impurities are rare and only a few deposits are suitable in volume, quality and amenability to be tailored to refining methods for specialty high purity applications.

High Purity Quartz (HPQ), and Silicon Metal is used in large part in the aluminum industry while Ultra High Purity Quartz (UHPQ) has become one of today’s key strategic minerals with applications in high-tech industries that include semiconductors, LCD displays, fused quartz tubing, microelectronics, solar silicon applications and recently, Silicon Anode Lithium Batteries.

GO FORWARD PLAN:

The Corporation intends to advance the development of the Montpetit project by completing the following steps during Q1 & Q2 2015:

  1. 1.Send material to specialized laboratories to find the best beneficiation process to transform the Montpetit Quartz material into Silicon Metal grade material and further test to see if the material could be purified to the Ultra High Purity Quartz specifications needed for advanced material and pharmaceutical applications.

High Purity Quartz beneficiated to 99.998% Si02 can command prices up to
US$ 6,000/T (Source: Dorfner Anzaplan). The Corporation intends to focus its interest on this segment of the market.

Run of mine quartz for usage as Ferrosilicon commands sale price averages between US$ 50/T to US$100/T; while run of mine quartz for Silicon Metal commands sale prices averaging between US$ 100/T to US$ 250/T.

  1. 2.Evaluating the Property Potential.

The exact volume of the quartzite body found on the Montpetit Property needs to be confirmed and measured. Furthermore, the grade distribution needs to be better understood. Of significance will be identifying, the controls that could explain the one-outlier result found in the assay results.

PARTIAL TABLE OF RESULTS:

Report Number: A14-09140
Analyte Symbol SiO2 Al2O3 Fe2O3(T) LOI Total SiO2
Unit Symbol % % % % %
Detection Limit 0.01 0.01 0.01 0.01
Analysis Method FUS-XRF FUS-XRF FUS-XRF FUS-XRF FUS-XRF ADJUSTED
41764 99.75 0.22 0.05 0.21 100.40 99.35%
41764-B 98.96 0.51 0.03 0.18 99.80 99.16%
41765 98.21 0.26 0.04 0.23 98.86 99.34%
41765-B 99.40 0.11 0.03 0.10 99.71 99.69%
41766 96.51 1.69 0.32 0.36 100.30 96.22%
41766-B 98.44 0.32 0.03 0.13 99.02 99.41%
41767 100.01 0.23 0.03 0.16 100.50 99.51%
41767-B 99.39 0.10 0.02 0.13 99.71 99.68%
41768 99.81 0.20 0.03 0.14 100.30 99.51%
41768-B 100.06 0.13 0.04 0.28 100.60 99.46%
Average 99.05 0.38 0.06 0.19 99.92 99.13%

The total exploration area of the Montpetit deposit is 2.42 Km2, while the old quarry is 100 m long by 35 m large and is inside a tabular quartzite. The deposit is composed of consolidated beach sand that diagenesis has transformed into a quartzite. In order to have a good sampling spread, 5 samples were taken at different zones of the quartzite deposit. Each quartzite layer along the stratigraphy has been sampled.

In 1956, 3,000 tons of quartzite averaging 99.27% SiO2 was mined from the Montpetit Quarry and used to produce ferrosilicon (Source: Resources Naturelles du Quebec, Sigeom 2014, Work Reports GM03695).

The material was first sent to the INRS (Institut National de la Recherche Scientifique) laboratory in Quebec City to be prepared for testing for Silica values. 10 prepared samples (an original and a duplicate) were sent to the Activation Laboratories in Ancaster, Ontario for whole rock and trace elements assay (FUS X-Ray Fluorescence (“XRF”)).

The average losses in ignition (“LOI”) (material and moisture burned off during the assays) for the 10 samples is 0.19% (ranging between 0.13% and 0.36%) this suggest that a certain percentage of the alkali metals are present as a carbonate molecule, and with an average laboratory total of 99.92% (ranging between 98.80 % and 100.6%), a correction for the loss of carbonate is required in order to present the actual SiO2 grade of the samples.


Click Image To View Full Size

Picture 1: Field sample from the Montpetit Property, Sample # 41767 tested 99.51% SIO2


Click Image To View Full Size

Picture 2: Quartzite outcrop at the Montpetit Property.

Mr. Vivian Stuart-Williams, SACNASPS, working under Special Authorization #308 of the Quebec Order of Geologist, is an Independent Qualified Person as defined by National Instrument 43-101 that supervised the preparation of the information in this news release.

All the information on exploration potential herewithin presented is historical in nature and while relevant, the information was obtained before the implementation of National Instrument 43-101 and as such does not meet National Instrument 43-101 reporting standards. The historical estimate should not be relied upon until the Company can confirm them.

About Quebec Quartz

Uragold 100 % wholly owned subsidiary, Quebec Quartz, by virtue of being a first mover into this market, succeeded in becoming the largest holder of distinct High Purity Quartz properties in Quebec. Quebec Quartz strategic portfolio of High Purity Quartz (+99.+% SiO2) deposits and closed silicon metal mines in Quebec represent a unique and valuable asset. Quebec Quartz aims to become a leading supplier of Ultra High Purity Quartz

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

www.uragold.com/Quebec-Quartz.php

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Uragold Buys Back 3.5% NSR Gold Royalty of the Beauce Placer Gold Project

Posted by AGORACOM-JC at 10:08 AM on Wednesday, December 24th, 2014

Montreal, Quebec / December 24 2014 / Uragold Bay Resources Inc. (“Uragold”) (TSX Venture: UBR) is pleased to announce that that it has purchased the remaining 3.5% net smelter royalty (NSR) over the Rang Chaussegros section of the Beauce Placer Gold property located in the municipality of Saint-Simon-les-Mines in the Beauce region of southern Quebec.

Announced in January 2010 as part of a purchase agreement with a private vendor for the original Beauce Placer project, a 3.5% NSR was payable once Uragold was in production on the Rang Chaussegros section of the project. As a result of series of discussions between involved parties, a new agreement was reached whereby Uragold can purchase the remaining 3.5% NSR for a cash payment of $50,000.

Patrick Levasseur, President and COO of Uragold stated, “The Rang Chaussegros now royalty free, this will greatly enhance the financial dynamics of the project increasing its profile to financiers and other stake holders.”

Uragold is working to secure a non-dilutive financing required to complete a 9,000 cubic meters (m3) of auriferous till pilot-scale operation (Phase 1). The pilot-scale operation is needed to allow the corporation to establish a statistical distribution model for the nugget effect on the gold grade of the buried placer channel. This step is required for the establishment of a higher-level resource category needed to complete the Feasibility Study (“FS”) requirement of Quebec’s the new Mining Act.

As previously mentioned, Quebec’s Ministry of Natural Resources will grant Uragold a “conditional” Mining Lease over the Rang Chaussegros to complete Phase 1 once an Internal Preliminary Economic Assessment (PEA) and an approved Closure Plan is submitted. UBR will be authorized to start full-scale production (Phase 2) once a completed Feasibility Study (“FS”) is submitted.

Private Placement

Uragold is pleased to announce that it has closed a non-brokered private placement, which is comprised of 10,835,000 units (“Unit”) at $0.05 per Unit for gross proceeds of $541,750. Insider participation in this placement accounts for 40% of the total amount subscribed. The net proceeds from the Private Placement will be used to pay for the Royalty purchase, general corporate expenditures and to enhance the Company’s balance sheet.

Each Unit is comprised of one (1) common share and one (1) common share purchase warrant (“Warrant”) 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 $ 0.07 during a period of 36 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.

Mr. Levasseur added, “Weak financial markets in the mining and exploration sectors have made external funding efforts challenging, but with this private placement, insiders are demonstrating their belief that 2015 will be an exciting year for Uragold as we continue to develop Quebec Quartz’s exciting high purity quartz projects while developing two gold mines in the Beauce region of Quebec.”

Other Corporate subject:

Further to the November 5, 2014 Uragold press release an outstanding debt of $14,125 was extinguished by the issuance of 282,500 common shares at a deemed price of $0.05 per share.

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

www.uragold.com

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INTERVIEW: Uragold Discusses Assay Results, Validated as Suitable for Silicon Metal and High Purity Quartz Applications

Posted by AGORACOM-JC at 11:32 AM on Wednesday, December 17th, 2014

UBR: TSX-V

Corrected SiO2 average for the 20 samples assayed is 99.65%, ranging from 99.37% to 99.86%. These results validate the fact that the Quartz material from the Roncevaux Property would make suitable feedstock for Silicon Metal production and applications requiring high purity quartz.

Uragold Bay Resources is a Gold and High Purity Quartz exploration junior focused on generating free cash flow from mining operations. The company’s 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%).

Hub On AGORACOM / Read Release / Watch Interview

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Quebec Quartz Assay Results Surpass Expectations, Validated as Suitable for Silicon Metal and High Purity Quartz Applications

Posted by AGORACOM-JC at 8:08 AM on Tuesday, December 16th, 2014

Montreal, Quebec / December 16, 2014, / Uragold Bay Resources Inc. (“Uragold”) (TSX Venture: UBR) is pleased to announce that it’s wholly owned subsidiary, Quebec Quartz, has received assay results for samples taken on the Roncevaux Quartz (Silica) property located in the Matapedia valley in the Gaspe region of Quebec.

The corrected SiO2 average for the 20 samples assayed is 99.65%, ranging from 99.37% to 99.86%. These results validate the fact that the Quartz material from the Roncevaux Property would make suitable feedstock for Silicon Metal production and applications requiring high purity quartz.

Patrick Levasseur, President and COO of Uragold stated, “We are extremely happy with these results, they have surpassed our initial expectations and validated our decision to focus on our Ronceveaux property since it is situated within 80 kilometers from a deep-sea harbour that can handle bulk shipments for worldwide exports, less then 300 Km from the future FerroAtlantica Port Cartier Silicon Metal production facilities and less then 500 Km Globe Specialty Metals Becancour silicon metal production facilities.”

In 2003, an exploration potential of ? 400,000 tons of SiO2 was calculated using the 360 m surface length of the Quartz vein, its average width (between 3 m and 12m) and assuming a continuation up to 50 M of depth. (GM60610: Barrette, Jean-Paul. 2003. Rapport des travaux d’exploration miniere sur la veine de quartz pur. Projet Silice Roncevaux, Canton Roncevaux, Gaspesie).

IMPORTANCE OF QUARTZ (SILICA)

Quartz (SiO2) is one of the most abundant minerals. It occurs in many different settings throughout the geological record. However, high Purity Quartz deposits with low impurities are rare and only a few deposits are suitable in volume, quality and amenability to be tailored to refining methods for specialty high purity applications.

High Purity Quartz (HPQ), and Silicon Metal is used in large part in the aluminum industry while Ultra High Purity Quartz (UHPQ) has become one of today’s key strategic minerals with applications in high-tech industries that include semiconductors, LCD displays, fused quartz tubing, microelectronics, solar silicon applications and recently, Silicon Anode Lithium Batteries.

GO FORWARD PLAN:

The Corporation intends to advance the development of the Roncevaux project by completing the following steps during Q1 & Q2 2015:

  1. 1.Send material to specialized laboratories to find the best beneficiation process to transform the Roncevaux Quartz material into Ultra High Purity Quartz for advanced material and pharmaceutical applications.

High Purity Quartz beneficiated to 99.998% Si02 can command prices up to
US$ 6,000/T (Source: Dorfner Anzaplan). The Corporation intends to focus its interest on this segment of the market.

Quartz for Silicon Metal the sales price averages between US$ 100/T to US$ 250/T.

  1. 2.Send quartz samples to Silicon Metals and other material buyers.

Multiple end-users have approached the Corporation. Having now received our own lab results, the Corporation is ready to start direct discussion with interested parties.

  1. 3.Evaluating the Property Potential.

The exact volume of the quart vein systems found on the Roncevaux Property needs to be confirmed and measured; and quartz occurrences contained in the new claims staked by Quebec Quartz after the first work programme need to be explored.

Mr. Levasseur added, “2015 will be an exciting year as we continue to develop Quebec Quartz’s exciting high purity silica projects while developing two gold mines in the Beauce region of Quebec.”

PARTIAL TABLE OF RESULTS:

Report Number: A14-09140
Analyte Symbol SiO2 Al2O3 Fe2O3(T) LOI Total SiO2
Unit Symbol % % % % % Corrected
Detection Limit 0.01 0.01 0.01 0.01 for lost
Analysis Method FUS-XRF FUS-XRF FUS-XRF FUS-XRF FUS-XRF Carbonate
41962 98.46 0.02 0.02 0.12 98.64 99.82%
41962-B 98.67 0.15 0.03 0.12 99.00 99.67%
41963 98.59 0.07 0.02 0.18 98.88 99.71%
41963-B 98.57 0.17 0.03 0.28 99.11 99.46%
41964 99.37 0.25 0.02 0.19 99.88 99.49%
41964-B 98.76 < 0.01 0.01 0.15 98.95 99.81%
41965 98.99 0.16 0.01 0.15 99.34 99.65%
41965-B 98.82 0.13 0.02 0.18 99.18 99.64%
41966 99.85 0.10 0.03 0.17 100.20 99.65%
41966-B 99.07 0.04 0.01 0.22 99.37 99.70%
41967 98.47 0.04 0.01 0.16 98.70 99.77%
41967-B 99.32 0.29 0.08 0.17 99.92 99.40%
41968 100.23 0.08 0.01 0.17 100.50 99.73%
41968-B 99.92 0.17 0.04 0.16 100.30 99.62%
41969 98.72 0.25 0.02 0.22 99.31 99.41%
41969-B 98.00 0.26 0.05 0.23 98.62 99.37%
41970 100.16 < 0.01 0.01 0.16 100.30 99.86%
41970-B 100.38 < 0.01 0.02 0.16 100.60 99.78%
41971 99.96 0.03 0.01 0.15 100.20 99.76%
41971-B 99.87 < 0.01 0.02 0.14 100.10 99.77%
Average 99.21 0.14 0.02 0.17 99.56 99.65%

The average losses in ignition (“LOI”) (material and moisture burned off during the assays) for the 20 samples is 0.17% (ranging between 0.12% and 0.23%) this suggest that a certain percentage of the alkali metals are present as a carbonate molecule, and with an average laboratory total of 99.55% (ranging between 98.88 % and 100.6%), a correction for the lost of carbonate is required in order to present the actual SiO2 grade of the samples.

Assay results confirm that the material is low to very low in all the major contaminants: Al2O3 average: 0.14%, range from <0.01% to 0.29%, Fe2O3 average: 0.02%, range from 0.01% to 0.08%, Co3O4 all samples <0.005%, CuO all samples <0.005%, MnO all samples <0.001%, NiO 15 samples <0.003%, the rest ranging from 0.003% to 0.012%, MgO all samples <0.01%, CaO 18 samples <0.01%, Na2O all samples <0.01%, K2O 8 samples <0.01%, the rest ranging from 0.01% to 0.03%, TiO2 9 samples <0.01%, the rest 0.01%, P2O5 average: 0.02%, range from 0.01% to 0.04%, Cr2O3 all samples <0.01%, V2O5 all samples <0.003%.

The samples were taken over the historical quartz vein from parallel trenches along a 360 m long quartz vein that varied between 3 m and 12 m in width. Samples weighing approximately 10 kg each along with a 3 kg duplicate were bagged on site. Ten samples were taken from each site and the field crew brought back approximately 130 kg.

The material was first sent to the INRS (Institut National de la Recherche Scientifique) laboratory in Quebec City to be prepared for testing for High Purity Silica and Silicon Metal potential. 20 prepared samples (an original and a duplicate) were sent to the Activation Laboratories in Ancaster, Ontario for whole rock and trace elements (FUS X-Ray Fluorescence (“XRF”)) assay.


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Picture 1: Field sample from the Roncevaux Property, Sample # 41765 tested 99.65% SiO2


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Picture 2: Visible showing of the Quartz veins on the Roncevaux Property.

Mr. Robert Gagnon, P. Geo, is a Qualified Person as defined by National Instrument 43-101, supervised the preparation of the information in this news release.

All the information on exploration potential herewithin presented is historical in nature and while relevant, the information was obtained before the implementation of National Instrument 43-101 and as such does not meet National Instrument 43-101 reporting standards. The historical estimate should not be relied upon until the Company can confirm them.

About Quebec Quartz

Uragold 100 % wholly owned subsidiary, Quebec Quartz, by virtue of being a first mover into this market, succeeded in becoming the largest holder of distinct High Purity Quartz properties in Quebec. Quebec Quartz strategic portfolio of High Purity Quartz (+99.+% SiO2) deposits and closed silicon metal mines in Quebec represent a unique and valuable asset. Quebec’s Quartz aims to become a leading supplier of Ultra High Purity Quartz

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

www.uragold.com

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