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With Gold And Silver On The Move, These 3 Juniors Are Set To Capitalize $EXS.ca $AMK.ca $UBR.ca

Posted by AGORACOM at 12:08 PM on Friday, April 29th, 2016

Gold and Silver Go Boom. GREAT News For These Juniors!

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EXS: TSX-V, OTCQX:EXSFF

  • 609,000 Ozs Indicated / 470,000 Inferred
  • Teck Resources To Spend $12 MILLION To Earn 70%

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AMK: TSX-V, ACKRF: OTC Pink

  • Included In Seabridge Gold Plan To Take KSM Into Production
  • Recent samples average 27,092 gm/tonne silver and 248 gm/tonne gold
  • Adjacent area host to Over 130M Ozs Gold, 800 million Ozs silver, 20 billion pounds copper

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Uragold_new

UBR: TSX-V, URAGF: OTC

  • Planned Dividend To Shareholders Via Gold Assets Spin Out
  • Largest Historical Placer Gold Deposit In Eastern North America
  • Past Gold Producer
  • Word Renowned Geophysical Team
  • Core Quartz Conversion To Solar Grade Silicon Metal Received $5,000,000 Funding + 20 Year Offtake Agreement For Asia

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Start Your Research And Discover Your Next Great Junior Resources Company

Uragold Commences Testing Of Process To Convert High Purity Quartz To Solar Grade Silicon Metal

Posted by AGORACOM at 7:36 AM on Tuesday, March 29th, 2016

Uragold Commences Testing Of Process To Convert High Purity Quartz To Solar Grade Silicon Metal

Uragold (TSX Venture: UBR) is pleased to announce that testing of its process to convert High Purity Quartz to Solar Grade Silicon Metal will commence today. Testing will be executed by PyroGenesis Canada Inc. (“PyroGenesis”), a clean-Tech company that designs, develops, manufactures and commercializes plasma waste-to-energy systems, plasma torch products and the PUREVAPâ„¢ Quartz Vaporization Reactor (QVR), from whom Uragold has been granted the worldwide exclusive rights for the One Step Production of Solar Grade Purity Silicon Metal from Quartz.

Having received confirmation that PyroGenesis has completed installation, assembly and commissioning of the PUREVAPâ„¢ QVR system, Uragold confirms the dynamic metallurgical testing program will commence today, Tuesday March 29, 2016.

Bernard Tourillon, Chairman and CEO of Uragold stated “This is a very exciting day for Uragold and its shareholders. Leading up to this day, we took the extra time and care necessary to insure the best possible results. We are now in the very capable hands of PyroGenesis and look forward with great anticipation to releasing the results to our shareholders in the very near future.”

ANTICIPATED TIMELINE FOR TESTING, RESULTS AND NEXT STEPS

The dynamic test protocols call for a first series of metallurgical tests to be completed at different operational settings. The High Purity Silicon Metal produced by the reactor during each of these tests will be sent to an independent laboratory for ICP – MS “Mass Spectrometry” analysis for validation.

Upon receipt of results, if needed, the operational parameters of the reactor will be adjusted. The process will be rapidly repeated in order to achieve the correct adjustments required for the transformation of Uragold Quartz into High Purity Si of a minimum of 4N purity (99.99 % Si).

Previously disclosed theoretical modeling of the process seems to indicate that transforming Raw Quartz into High Purity Silicon metals with a minimum purity of 4N (99.99 %) is within reach and, with anticipated process improvements, further testing could achieve purity of 5N (99.999 %) and even further to 6N (99.9999 %).

Uragold anticipates announcing results within 2-4 weeks.

Upon successful validation of the One Step Production Process, Uragold plans to move forward with the preparation of a Preliminary Economic Assessment (“PEA”) for its Roncevaux Quartz Property as the feed material for the PyroGenesis’ PUREVAP™ QVR process.

GLOBAL COMPETITIVE ADVANTAGE FOR URAGOLD – PRODUCING SOLAR GRADE SILICON METAL AT METALLURGICAL GRADE COSTS

PyroGenesis’ PUREVAP™ QVR disruptive potential is its one step direct transformation of Quartz into Solar Grade Silicon Metal, thereby potentially allowing Uragold to manufacture Solar Grade Silicon Metal (Sg Si) at the same cost as producing Metallurgical Grade Silicon Metal (Mg Si), a much lower quality product. Additionally, the Company believes the process holds a significant capital cost advantage that will allow a plant to be built at just a fraction of the current manufacturing costs.

Tourillon further added “It cannot be understated. Successful testing will provide Uragold with disruptive technology and a very strong competitive advantage over all other Solar Grade Silicon Metal Manufacturers. It allows Uragold to go much higher in the High Purity Quartz value chain and potentially become the lowest cost vertically integrated Silicon Metal, Solar Grade Silicon Metal and higher value Silicon Metal producer. Quite simply, this technology has the potential to revolutionize the process of manufacturing Silicon Metal.”

$USD 12 BILLION ANNUAL INDUSTRY, GROWTH DRIVEN BY PHOTOVOLTAIC SOLAR DEMAND

The Silicon Metal, Solar Grade Silicon Metal and Electronic Grade Silicon Metal markets combined, was a $USD 12 billion a year industry in 2014.  Metallurgical Grade Silicon Metal world consumption topped 2.25Mt in 2014, exceeding $US 6 billion in sales. Propelled by increased demand for photovoltaic (PV) solar panels systems, Metallurgical Grade Silicon Metal consumption is expected to grow by 6%+ per Annum[1].

About 10% of 2014 global Metallurgical Grade Silicon Metal produced was further refined into Solar Grade Silicon Metal and Polysilicon, worth another $US 6 billion.  GTM Research estimates that Installed PV demand will growth 15 % – 23 % annually, access to Solar Grade Si will be limiting factor in PV Growth, balance supply and demand for Sg Si demand expected for year-end 2016 as Gigawatt (GW) produce by Solar panels increases.[2]

About Uragold

Uragold Bay Resources is a TSX-V listed junior exploration company planning to become a vertically integrated and diversified High Value Specialty Materials Company.  Uragold has announced plans to spin out its Beauce Gold Project – the largest placer gold deposit in eastern North America.  Our Business model is focused on developing unique projects that can generate high yield returns and significant free cash flow within a short time line.

High Value Specialty Materials

Uragold, with its worldwide exclusive usage of PyroGenesis’ PUREVAP™ QVR, is endeavouring to become a vertically integrated Silicon Metal (98.5% Si), High Purity Silicon Metal (99.99% Si), Solar Grade Silicon Metal (6N Purity / 99.9999% Si) and/or Higher (9N Purity / 99.9999999% Si) producer.

The PUREVAP™ QVR process’s big advantage is its one step direct transformation of Quartz into High Purity Silicon Metal Solar Grade Silicon Metal and/or Higher Purity product, thereby potentially allowing Uragold to manufacture high value material for the same operating cost presently being paid by traditional producers to make Metallurgical Grade Si (98.5% Si) using the traditional arc furnace approach.

The Science Behind PyroGenesis PUREVAPâ„¢ QVR Process Is Solid:

  • Plasma arc based process can and has transformed High Purity Quartz into Mg Si.
  • Plasma arc based process can and is being used to purify Mg Si into higher value materials such as Sg Si.
  • Finally, refining Mg Si using an electron-beam furnace in a high vacuum-processing environment has proven the concept of the elimination of elements whose vapor pressures are higher than that of silicon.

What is unique and ground breaking is the combination of these three proven processes into one step.

A Green And Clean Company

Uragold, with its worldwide exclusive usage of PyroGenesis’ PUREVAP™ QVR will also be implementing a process to make Sg Si, which is estimated to generate 14.1 kg CO2 eq/Kg SG Si, versus the 54.0 kg CO2 eq/Kg SG Si of emissions generated by the Siemens process (90% of the present production process).  This represents 75% fewer greenhouse gas emissions, which is justified by elimination of the emissions emanating from the use of chemicals, as well as, energy consumption from the additional purification step.

High Purity Quartz Properties

Uragold is also the largest holder of High Purity Quartz properties in Quebec, with over 3,500 Ha under claims.  Despite the abundance of quartz, very few deposits are suitable for high purity applications.  High Purity Quartz supplies are tightening, prices are rising, and exponential growth is forecast.  Quartz from the Roncevaux property successfully passed rigorous testing protocols of a major silicon metal producer confirming that our material is highly suited for their silicon metal production.

About Our Beauce Gold Project About To Be Spun Out To Unlock Value

The Beauce Gold Project is a unique, historically prolific gold field located in the municipality of Saint-Simon-les-Mines in the Beauce region of Southern Quebec.   Comprising of a block of 37 claims 100% owned by Uragold Bay Resources, the project area hosts a six (6) km long unconsolidated gold bearing sedimentary units (a lower saprolite and an upper brown diamictite) holding the largest placer gold deposit in eastern North America. The gold in saprolite indicates a close proximity to a bedrock source of gold providing significant potential for further exploration discoveries.

This press release contains certain forward-looking statements, including, without limitation, statements containing the words “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “in the process” and other similar expressions which constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking statements reflect the Company’s current expectation and assumptions, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties including, but not limited to, our expectations regarding the acceptance of our products by the market, our strategy to develop new products and enhance the capabilities of existing products, our strategy with respect to research and development, the impact of competitive products and pricing, new product development, and uncertainties related to the regulatory approval process. Such statements reflect the current views of the Company with respect to future events and are subject to certain risks and uncertainties and other risks detailed from time-to-time in the Company’s on-going filings with the securities regulatory authorities, which filings can be found at www.sedar.com. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements either as a result of new information, future events or otherwise, except as required by applicable securities laws.

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 Tel (514) 907-1011
Patrick Levasseur, President and COO Tel: (514) 262-9239
www.uragold.com

[1] Roskill: Silicon and Ferrosilicon: Global Industry Markets & Outlook report (2014)

[2] PV demand and GTM Research October 2015 Plus info from RECSilicon 2015 presentation

 

INTERVIEW: Quebec Quartz, Signs MOU with Dorfner Anzaplan to Evaluate Potential of its High Purity Quartz Deposit

Posted by AGORACOM-JC at 10:51 AM on Thursday, April 16th, 2015

Welcome to Beyond The Press Release a production of AGORACOM in which we take the time to talk to small cap ceo’s and executives about their recent press releases. With us today is Bernard Tourillon, Chairman, CEO and Director of Uragold Bay Resources.

  • 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
  • Developing Quebec’s first placer mine in 50 years, the Beauce Placer Project in partnership with Golden Hope Mines, the Bellechasse-Timmins Gold Deposit.

Hub On AGORACOM / Corporate Profile / Watch Interview

Uragold Acquires Silica Claims Directly Adjacent To Sitec Silicium Quebec Quartz

Posted by AGORACOM-JC at 10:25 AM on Wednesday, November 26th, 2014

Montreal, Quebec, / November 26 / Uragold Bay Resources Inc. (“Uragold”) (TSX Venture: UBR) is pleased to announce it has acquired, through map staking, two (2) silica claims directly adjacent to Sitec Silicium Quebec quartz mine located in the Charlevoix region of Quebec. Sitec Silicium Quebec quartz mine supplies silica for Sitec silicon metal foundry in Becancour and for the Elkem Metal Canada ferrosilicium foundry in Chicoutimi Quebec.

Quebec Quartz, Uragold’s wholly owned subsidiary, intends to explore the claims for quartzite extensions to the north of the Silicium Quebec Mine. The Galette sector of the Charlevoix region is knows to hold high purity quartzites. The regional geology is comprised of a paragenesis and pink garnetiferous granite with units of discernable quartzites within the paragenesis.

Patrick Levasseur, President and COO of Uragold stated, “This is an other great addition to our significant portfolio of high quality silica properties. Mr. Levasseur then added, “We continue to develop Quebec Quartz’s exciting high purity silica projects while developing two gold mines in the Beauce region of Quebec.”

About Silica

Quartz (SIO2) is one of the most abundant minerals. It occurs in many different settings throughout the geological record. High Purity Quartz deposits with low impurities are rare. However, only very few deposits are suitable in volume, quality and amenability to tailored refining methods for specialty high purity applications.

High Purity Silica (HPS) and Silicon Metal which is used in large part in the aluminum industry 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.

“Frac Sand”, is a durable, high-purity quartz sand used to help produce petroleum fluids and prop up man-made fractures in shale rock formations through which oil and gas flows, demand is exploding.

The need for “Frac sand” is turning this segment into the top driver of value in the shale revolution, and this is having a major impact across all High Purity Quartz markets, as material once used to meet the needs of high-tech industries is being diverted to this market to meet product shortage.

“One of the major players in Eagle Ford is saying they’re short 6 million tons of 100 mesh for “Frac sand” alone in 2014 and they don’t know where to get it. And that’s just one player,” Rasool Mohammad, President and CEO of Select Sands Corporation told Oilprice.com.

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 silica (+99.5% SiO2) deposits and closed silicon metal mines in Quebec represent a unique and valuable asset. While different Parties interested in our properties have approached the Corporation, we are waiting until we receive previously announced labs results before advancing these discussions.

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

Uragold Completes Three Online Interviews Via AGORACOM

Posted by AGORACOM-JC at 4:42 PM on Wednesday, November 5th, 2014

 

Montreal, Quebec / November 5, 2014 / Uragold Bay Resources Inc. (“Uragold”) (TSX Venture: UBR) is pleased to announce that during the first quarter of the AGORACOM online advertising program, we received significant exposure through millions of content brand insertions on the AGORACOM network and extensive search engine marketing.

In addition to all the other services rendered during the first quarter of the AGORACOM online program, we completed the three following interviews:

http://www.smallcapepicenter.com/beyondthepressrelease/AGORACOM-UBR-23Oct2014/

http://www.smallcapepicenter.com/beyondthepressrelease/AGORACOM-UBR-14Oct2014/

http://www.smallcapepicenter.com/beyondthepressrelease/AGORACOM-UBR-18Sept2014/

Patrick Levasseur, President and COO of Uragold stated, “AGORACOM has proven to be a leader in their space and we are happy with their services.” Mr. Levasseur then added, “We intend on continuing our awareness campaign to promote Quebec Quartz exciting new high purity silica projects and the Company’s efforts in developing two gold mines in the Beauce region of Quebec.”

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 October 15, 2014.

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

Uragold Receives Conditional Approval from the TSX Venture Regarding the Acquisition of 32 Claims from Fancamp

Posted by AGORACOM-JC at 9:52 AM on Wednesday, October 22nd, 2014

Uragold Receives Conditional Approval from the TSX Venture Regarding the Acquisition of 32 Claims from Fancamp

Montreal, Quebec / October 22 2014 / Uragold Bay Resources Inc. (“Uragold”) (TSX Venture: UBR) is pleased to announce that it has received conditional approval from the TSX-Venture to go forward with the acquisition of 32 claims encircling Uragold’s Beauce Placer Gold Project located in the municipality of Saint-Simon-les-Mines in the Beauce region of southern Quebec held by Fancamp Exploration Ltd. (“Fancamp”) (TSX Venture: FNC).

Subject to Uragold submitting and/or filling the following documentation, the Uragold and Fancamp transaction will be allowed to close:

  1. 1.The Corporation must submit a National Instrument (“NI”) compliant technical report, that must include the work program proposed by the Qualified Person to be done during first 12 months on the 32 new claims to be acquired;
  2. 2.The Corporation must submit a financial plan or any other appropriate documentation that will demonstrate it has the financial capacity to meet any financial obligations emanating from this agreement during the first six months of the closing of the transaction and fund the phase one work suggested by the QP on the 32 new claims to acquired.
  3. 3.The Corporation must submit copies of all the pertinent executed agreements between the parties;
  4. 4.Since Fancamp will become an insider of the Corporation at the closing, the Corporation must submit the required Personal Information Form to the exchange; and
  5. 5.The Corporation will have to issue a follow-up press release once the transaction actually closes.

The Corporation does not envisage any problems completing these requirements in a timely basis, especially since, technically speaking, the Fancamp transaction only represents the acquisitions of the seventy four percent (74%) extension of the Beauce Paleoplacer not presently held by Uragold.

Therefore, instead of preparing a new technical report for the 32 claims acquired, the Corporation will simply take advantage of the situation, to up-date its previous Technical Report and include in the report all the information available over the full 6.5 km long paleoplacer gold channel. Furthermore, since the completion of the previous report, the Uragold technical team has done a lot of geological modelling work, using all the historical information available; this information will also be included in the report.

Regarding the financial requirements, since the Corporation intends to concentrate its work during the next twelve (12) to twenty four (24) months on its original 5 claims blocks, the actual financial obligations emanating from the new acquisition will be minimum.

Patrick Levasseur, President and COO of Uragold stated that: “The up-dated technical report will allow us to clearly explain why we believe that the acquisition of the 32 Fancamp claims is truly changing the whole dynamics of the Beauce Paleoplacer Gold project.”

Mr. Vivian Stuart-Williams, SACNASPS, working under Special Authorization #290 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.

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

Uragold And Fancamp Sign Final Agreement Regarding The Acquisition Of 32 Claims Covering The Section Of The 6.5 Km Long Historical Beauce Paleoplacer Gold Channel Not Owned By Uragold

Posted by AGORACOM-JC at 10:58 AM on Wednesday, October 8th, 2014

Montreal, Quebec / October 8 2014 / Uragold Bay Resources Inc. (“Uragold”) (TSX Venture: UBR) is pleased to announce that it has signed a definitive written Agreement with Fancamp Exploration Ltd. (“Fancamp”) (TSX Venture: FNC) regarding the acquisition of 32 claims encircling Uragold’s Beauce Placer Gold Project located in the municipality of Saint-Simon-les-Mines in the Beauce region of southern Quebec.

Uragold’s original Beauce paleoplacer project, 5 claims situated between the Rang Chaussegros and the Rang Gustave, covered only twenty-six percent (26%) of the length of the paleo-placer gold channel. When the transaction closes, Uragold’s claim block will cover the full 6.5 km long paleo-placer gold channel.


Click Image To View Full Size
Figure 1. This figure shows the paleo-placer identified by Beauce Place Company in 1959 (Orange); Uragold’s original Beauce Claims (Blue); mineralized zones where Uragold delineated an Inferred Resource in March 2014 (Thick Orange); and the Fancamp Claims subject to the Letter of intent (Red).

The Beauce Placer Project Overview:

The property is located southeast of Beauceville and 3 km northeast of Saint-Simon-les-Mines, in the Gilbert River Valley (in the Appalachians of southern Quebec) where the discovery of an egg-sized gold nugget in the river sands was made in 1846. News of this find attracted hundreds of prospectors who panned just about every stream, brook and river in the area. Two of the largest recorded gold nuggets found in Canada came from the Gilbert River, in areas now covered by Uragold. In 1866 J. Kilgour found a nugget weighing 52 oz. on the north branch of the Gilbert River; and in 1867 Mr. MacDonald found a nugget weighing 45 oz. in the same general area.

By 1880, the profitable properties were taken over by larger mining companies, and gold was mined intermittently in various tributaries of the Chaudiere River (into which the Gilbert River flows). Unfortunately, legal challenges between the old Seigneurial rights owners, landowners and the Mining Companies created such a hindrance to the development of gold projects in the region that almost all work stop by 1900. The result was that prospectors and the mining Companies moved their attention elsewhere in Quebec and in Canada.

In 1957, Mr. M. J. Boylen formed the Beauce Placer Mining Company. The Company drilled the area to estimate the volume and gold content of the buried placers. By 1959, they had defined a drilled historical resource of 168,952 Au oz (12,978,710 m3 @ 0.405 g/m3) (June, 1959 – GM08785) on a paleo-channel striking from the Rang St-Charles through to Rang Delery, Rang Chaussegros, Rang St-Gustave all the way to Rang 6. Parts of the paleo-channel were mined from 1959 to 1964 using dragline and dredging operations. Some of this mining was conducted, on the western part of the Original Uragold Property. Despite a significant production of 56,000 oz. gold, the operations ceased somewhere in 1963/4 because of technical problem.

On the section of the deposit previously mined by The Beauce Placer Mining Company, the unpublished gold production data for the dredging and drag line operation from 1959 to the early 1960s and their 1958-59 exploration reports mentioned that:

This infers that the actual gold grade recovered during dredging was roughly six times (x6) the suggested grade derived from the Beauce Placer Mining Company drilling programme.

This point was emphasised by Rose (1959) who in relation to the proposed dredging by the Beauce Placer Company at the time stated: –

“…Gold obtained in the drill samples has been coarse and in a number of holes small nuggets were found. In estimating volumes and values these nuggets have been included. When the gold is coarse it usually follows that actual dredging recoveries are higher than the drill estimates.”

In March 2014, the Uragold technical team concluded, after having reviewed all the technical data available derived from 30 boreholes (7 recently drilled sonic boreholes and 23 historical boreholes from work done in the 80’s) located only on Uragold original claim blocks, that there was enough recent and historical information to disclose an Inferred Polygonal Resource on the Claims block controlled by Uragold.

Following the signature of the letter of intent with Fancamp, the Uragold technical team reviewed all the technical data available derived from 90 boreholes now located on the new Uragold claim blocks (7 recently drilled sonic boreholes and 83 historical boreholes from work done in the 80’s). From this recent and historical information, a new historical Polygonal Resource was calculated, and a new resource potential was estimated for the Beauce Placer.

It must be emphasised that any grade/ tonnage calculation at the Beauce Project will be fraught with difficulty. Key amongst the problems with the Beauce (and many other gold projects) is ore grade variability. The grade can and will change from almost nothing to a value of several grams per cubic metre within a very short distance.

Due to the nugget effect and the clear disparity between drilled and mined gold grades at the Beauce, the Uragold technical team believes that gold volumes contained in the deposit will be larger than indicated by the historical drilling. However, until the completion of additional drilling that can validate the historical data, the only way to quantify and divulge the historical information, while taking into consideration the nugget effect, is to look at the historical Polygonal Resource as a guideline for a new potential exploration* target range.

Making the assumption that recovered gold could be up to six times (x6) the historical Polygonal Resource figure (as per the data derived from the historical mining figures) suggests that the gold potential for the entire deposit now controlled by Uragold could 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.

*Potential quantity and grade are conceptual in nature, there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will results in the discovery of a mineral resource.

All information such as resources estimates and grades herewith 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.

While the presence of significance quantities of visible (placer) gold in the region is a fact, the source/s of these gold showings has not yet been identified. Studies by Uragold of the auriferous basal till and the underlying saprolite suggest a close proximity source of gold, and since the acquired claims cover an extensive area of the Gilbert river valley this increases the chances that the unknown Bellechasse / Timmins type deposit mentioned in our March 27, 2014 press release will be found on Uragold claims.

Subject to regulatory approval, the Uragold and Fancamp definitive agreement transaction contains the following salient points:

  1. 1.Uragold will acquire the 32 claim block contained in the Appalachian Properties that surrounded the Uragold Beauce Property (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.
  1. 2.Contemporaneously with the signing of the definitive Agreement:
    1. a.Uragold will make cash payment of C$25,000 to Fancamp within six (6) months of the Signing of the definitive Agreement.
    2. b.Uragold will finance C$400,000 worth of exploration work on the Claims over the next 4 years, under the following schedule, Year 1: C$50,000, Year 2: C$75,000, year 3: C$100,000 and year 4: C$175,000.
    3. c.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.
  2. 3.Fancamp and Uragold have signed a Covenant 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.
  3. 4.Fancamp intends to nominate Mr. Peter H Smith to the Uragold Board.

Peter H. Smith PhD, P.Eng. is a Director and founder of Fancamp Exploration Ltd. and is presently Chairman of the Board and interim 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. 5.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. 6.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”).

The transaction is also subject to the approval of the TSX Venture Exchange, approval that requires the filing of an updated NI43-101 compliant technical report on the Beauce Property.

Mr. Vivian Stuart-Williams, SACNASPS, working under Special Authorization #290 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.

Patrick Levasseur, President and COO of Uragold stated that: “This signature of a final agreement is another significant step being undertaken by Uragold. This acquisition is changing the whole dynamics of the Beauce Paleo-placer Gold project, as it significantly increase the size and scope of our project.” Mr. Levasseur went on to add: “We are extremely pleased to have been able to conclude such a transaction with Fancamp Exploration Ltd., a Canadian junior mineral exploration company that is evolving into a holder of shares in partner companies and royalties on near-term producing mines. Lastly, the addition of Peter Smith to the board of Uragold, an experience project developer, is another very positive development for the Corporation.”

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

CLIENT FEATURE: (UBR: TSX-V) Leader in High Purity Quartz Exploration in Quebec

Posted by AGORACOM-JC at 11:55 AM on Thursday, September 11th, 2014

Why Uragold Bay Resources?

  • High Purity Silica (HPS) and Silicon Metal 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

Uragolds business model focuses on developing low-risk, low-cost gold mining operations while exploring on core properties that hold the potential of discovering world class gold deposits. The Company’s properties are located in Canada in the Appalachian region of the province of Quebec. The properties benefit from extensive historical exploration work and from well-established infrastructure thereby helping to reduce exploration risks.


What are High Purity Quartz and Silicon Metal?

High Purity Quartz

  • High Purity Quartz (HPQ) has a purity level in excess of 99.997% and is extremely rare.
  • Used in the semiconductor industry to produce crucibles and quartz glass products, such as windows, rods, and tubes [Source].
  • Also used in the production of silicon metal, which is the base for the semiconductor wafers, made using the Czochralski Process[Source].

  • High purity quartz deposits with low impurities are rare, world supplies are tightening and HPS prices are rising [Source ].

  • Demand for HPQ is growing with the high tech industry and the price for premium HPQ can vary between US$ 8,000 to US$ 25,000 or more per ton depending on the specifications needed for the final application [Source ].

Metallurgical Silicon Metal

  • Metallurgical Silicon Metal has a purity of 98.5% or higher and is used as an alloying agent in the aluminum industry due to its ability to increase the strength of aluminum [Source].

  • Adding Silicon Metal to aluminum alloys makes them strong and light [Source].

  • As a result they are increasingly used in the automotive industry to replace heavier cast iron components [Source].

  • Allows weight reductions and a reduction in fuel consumption [Source].

  • Demand for aluminium has increased 5% CAGR over the past 20 years [Source].

  • It has also been reported that the solar industry will have it’s first global panel shortage since 2006 [Source].

  • It 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

  • Silicon Metal with 98.50% SiO2 purity sells for about US$ 3,200 per ton (or US$ 1.45 US a pound) [Source].

Martinville, Malvina and the Montpetit Quarry Silica Properties

Company announced that it’s wholly owned subsidiary, Quebec Quartz, has initiated a work program and is starting the evaluation process of its Martinville, Malvina and the Montpetit Quarry Silica properties.

Fieldwork will first start on the Martinville property where a Historical Resource of 1,000,000 tons was declared and where samples of up to 99% SiO2 were found and then continue to the Malvina property where sample as high as 99.74% SiO2 were reported. Historical records indicate that the samples were taken from quartz vein systems described as clear white quartz with limited fracturing. Both properties are located approximately 40 km south east of Sherbrooke in the Eastern Townships of Quebec.

The Montpetit Quarry is located in Hemmingford Quebec, 70 km south of Montreal. Historical records indicate the silica mined in the 1950s from the quarry was used for ferro-silica production. In 1956, 3,000 tons of sandstone quartzite was analyzed and the average result for SiO2 was 99.27% indicating that the silica from this property could be suitable for silicon metal production. The silica is described as originating from very pure quartzite sandstone from the Cairnside geological formation

Developing Quebec’s First Placer Gold Mine

Beauce Placer Gold Project is located in the municipality of Saint-Simon-les-Mines in the Beauce region of southern Quebec. The project has all the required environmental permits to start its operations, and is in the final stage for obtaining a 20 year mining lease for a placer gold mining operation. It will be Quebec’s first placer mine in 50 years.

The Company declared inferred resource of 23,000 oz. AU (741,000 m3 @ 0.97 g Au/ m3) on the Rang Chaussegros section. The importance of the nugget effect on the project potential is such that gold recovery could be between 23,000 (741,000 m3 @ 0.97 g Au/ m3) and 140 000 ounces (741,000 m3 @ 5.9 g Au/ m3), as per data derived from the historical mining figures.;

Developing an open pit gold mine in the Beauce

In April 2014, Uragold singed a definitive option agreement with Golden Hope Mines (“GNH”) concerning the advancement of the Bellechasse-Timmins (BT) Gold Deposit into a producing mine.

In August 2012, GNH published a resource estimate of an indicated resource of 313,900 ounces gold (2.9 million tonnes grading 3.36 g/t Au) and an inferred resource of 102,000 ounces gold (2.17 million tonnes grading 1.46 g/t Au) using a cut-off grade of 0.60 g/t. Furthermore, GNH’s many bulk-sampling campaigns revealed extensive areas of surface mineralization averaging approximately 3 g/t Au. Notable were sampled areas averaging up to 10 g/t Au (Trench 09A).

The Beauce Placer property and the Golden Hope Mines’ Bellechasse-Timmins (BT) Gold Deposit (which are both ‘nuggety’ type deposits) are located within Magog Group sediments. It should be noted that the Beauce gold project has a thick till in contrast to the Bellechasse-Timmins (BT) Gold Deposit where most of the till has been eroded away and exposed the outcrops. This suggests that both the Beauce and the Bellechasse/ Timmins deposits are genetically related – the Beauce being a placer deposit derived from an unknown Bellechasse/ Timmins type deposit.

Under the terms of the Option Agreement, Uragold will be responsible for obtaining all required permits, approvals, and documentation associated with going into production, in return for a 30% interest in the property. Uragold will then have 120 days to obtain project financing, which, if successful, will earn it a further 20% interest, giving Uragold a 50% interest in the B-T deposit. The companies will then form a Joint Venture (JV) for the operation of the mine, with Uragold serving as operator. GNH will have a carried interest into production, and will receive a 50% Net Proceeds Royalty (“NPR”) on the gold produced.

  • 38,000 meters drilled, 2010 to 2012
  • Gold Recovery:
    • Gravity separation up to 92%
    • Total gold (gravity + cyanidation) 99%
  • Less than 1% Bellechase-Belt explored
  • Located in the municipality of Saint-Magloire, in the Beauce region of Quebec
  • 1 ½ hour drive south of Quebec City
  • 3 ½ hours from Montreal
  • Accessible year round on all paved roads, close to urban infrastructures

Moe River Gold Property

The Moe River Property is located in the southwestern part of the Quebec Appalachians in the Eastern Townships region of the Province of Quebec.

The gold bearing gravels of the Moe river valley has attracted prospectors since the 1900. Between 1958 and 1962, Tamara Mining Limited worked in the Moe River area, under the direction of G. A. Blair, P.Eng. Blair defined a historical resource based on the volume of gravels in the terraces along the river. He concluded that there were between 45 to 48 million cubic yards of material in all of the terraces containing a total of 400,000 ounces of placer gold.

12 Month Stock Chart

Quebec Quartz Provides General Information on Silicon Metal and High Purity Quartz

Posted by AGORACOM-JC at 9:46 AM on Thursday, August 28th, 2014

Montreal, Quebec / August 28 2014 / Uragold Bay Resources Inc. (“Uragold”) (TSX Venture: UBR) through it’s wholly owned subsidiary, Quebec Quartz is pleased to offer the investing public the following general information on Silicon Metal and the High Purity Quartz.

Uragold and Quebec Quartz will concentrate their work on High Purity Quartz and Metallurgical Silicon Metal for which applications and dollar value of quartz greatly vary based on the purity of the material. The company acquired some of the most prospective historical High Purity Quartz (HPQ) deposits with High Purity Silica (+98.5% SiO2) (HPS) values in Quebec during Q2 2014 through it’s subsidiary Quebec Quartz.

The Quebec Quartz assets can be viewed at: http://www.uragold.com/Quebec-Quartz.php

Patrick Levasseur, President and COO of Uragold stated that: “We have noticed in the last few months that investors are very eager to hear about the developments for silicon metal in Quebec but have not been able to find a comprehensive source for researching the potential of the market.” Mr. Levasseur went on to add: “We are thus extremely pleased to offer investor this first of hopefully many non-exhaustive educational news releases.”

What are High Purity Quartz and Silicon Metal?

High Purity Quartz

  • High Purity Quartz (HPQ) has a purity level in excess of 99.997% and is extremely rare.-Used in the semiconductor industry to produce crucibles and quartz glass products, such as windows, rods, and tubes [Source].-Also used in the production of silicon metal, which is the base for the semiconductor wafers, made using the Czochralski Process [Source].
  • High purity quartz deposits with low impurities are rare, world supplies are tightening and HPS prices are rising [Source ].
  • Demand for HPQ is growing with the high tech industry and the price for premium HPQ can vary between US$ 8,000 to US$ 25,000 or more per ton depending on the specifications needed for the final application [Source ].

Metallurgical Silicon Metal

  • Metallurgical Silicon Metal has a purity of 98.5% or higher and is used as an alloying agent in the aluminum industry due to its ability to increase the strength of aluminum [Source].-Adding Silicon Metal to aluminum alloys makes them strong and light [Source].-As a result they are increasingly used in the automotive industry to replace heavier cast iron components [Source].
  • Allows weight reductions and a reduction in fuel consumption [Source].
  • Demand for aluminium has increased 5% CAGR over the past 20 years [Source].
  • It has also been reported that the solar industry will have it’s first global panel shortage since 2006 [Source].
  • It 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
  • Silicon Metal with 98.50% SiO2 purity sells for about US$ 3,200 per ton (or US$ 1.45 US a pound) [Source].

Ferro Silicon

  • Has a purity of 50%-98% SiO2, produced by reduction of silica or sand with coke in presence of iron [Source].-Ferrosilicon is used as a source of silicon to reduce metals from their oxides and to deoxidize steel and other ferrous alloys [Source].-Ferrosilicon is also used for manufacture of silicon, corrosion-resistant and high-temperature resistant ferrous silicon alloys, and silicon steel for electromotors and transformer cores [Source].
  • Usual formulations on the market are ferrosilicons with 15%, 45%, 75%, and 90% silicon [Source].
  • Ferrosilicon with 75% SiO2 purity sells for about US$ 2,170 per ton (or US$ 0.985 a pound) [Source].

Frac Sand

  • Lower quality silica is used for frac sand in the oil and gas industry.-Frac sand is in high demand and will experience a 30% increase in growth as the shale gas industry continues to grow [Source].-Pricing for Frac sand remains well below US$ 100 per ton [Source].

About Quebec Quartz

Uragold acquired some of the most prospective historical High Purity Quartz deposits with High Purity Silica (+99.5% SiO2) (HPS) values in Quebec during Q2 2014. Quebec Quartz is a 100% own subsidiary of Uragold Bay Resources, a junior exploration company listed on the TSX Venture under the symbol UBR. Quebec Quartz holds a strategic portfolio of high purity silica (+99.5% SiO2) deposits and closed silicon metal mines in Quebec.

About Silica

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

High Purity Silica (HPS) and Silicon Metal which is used in large part in the aluminum industry 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

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 Starts Exploration Program on the Martinville, Malvina and the Montpetit Quarry Silica Properties

Posted by AGORACOM-JC at 2:40 PM on Thursday, August 21st, 2014

Montreal, Quebec / August 21, 2014 / Uragold Bay Resources Inc. (“Uragold”) (TSX Venture: UBR) is pleased to announce that it’s wholly owned subsidiary, Quebec Quartz, has initiated a work program and is starting the evaluation process of its Martinville, Malvina and the Montpetit Quarry Silica properties.

Fieldwork will first start on the Martinville property where a Historical Resource of 1,000,000 tons was declared and where samples of up to 99% SiO2 were found and then continue to the Malvina property where sample as high as 99.74% SiO2 were reported. Historical records indicate that the samples were taken from quartz vein systems described as clear white quartz with limited fracturing. Both properties are located approximately 40 km south east of Sherbrooke in the Eastern Townships of Quebec.

The Montpetit Quarry is located in Hemmingford Quebec, 70 km south of Montreal. Historical records indicate the silica mined in the 1950s from the quarry was used for ferro-silica production. In 1956, 3,000 tons of sandstone quartzite was analyzed and the average result for SiO2 was 99.27% indicating that the silica from this property could be suitable for silicon metal production. The silica is described as originating from very pure quartzite sandstone from the Cairnside geological formation

Source: Resources Naturelles du Quebec, Sigeom 2014, Work Reports GM54343, GM53695, GM03695. A qualified person has not verified the relevance and reliability of the properties outlined above. All information such as resources estimates and grades herewith 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.

A field crew has been mobilized to complete a review of the local geology, verify the extent and size of the known quartz deposit in addition to investigating the potential for new discoveries that could compliment the already rich portfolio of High Purity Silica (HPS) assets held by the Company. After having mapped the quartz deposits, the field crew will extract approximately 200 kilograms of quartz per property in the more prospective historic high-grade zones for assaying and metallurgical tests.

To fully comply with high purity quartz industry standards, several constant parameters must be met including: 1) Chemistry; 2) Particle shape, size and distribution; 3) Hydroxyl level and; 4) Carbon content. These four characteristics are fundamental for the successful production of high purity quartz to a commercially acceptable product standard. Samples will be sent to an independent lab, silicon metal producers and specialized labs that supply high purity quartz to high tech companies.

Patrick Levasseur, President and COO of Uragold stated, “We are extremely pleased with the field crew’s work on our Drucourt and Roncevaux properties earlier this summer. The same crew will be mobilized for the Martinville, Malvina and the Montpetit Quarry Silica properties with the task of evaluating the HPS properties the Company staked in Q2.” Mr. Levasseur then added, “The Company looks forward to shipping samples to leading Silicon Metal producers and HPS laboratories so that we can evaluate the quality of our material.

About Silica

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

High Purity Silica (HPS) and Silicon Metal which is used in large part in the aluminum industry 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

About Quebec Quartz

Uragold acquired some of the most prospective historical HPQ deposits with High Purity Silica (+99.5% SiO2) (HPS) values in Quebec during Q2 2014. Quebec Quartz is a 100% own subsidiary of Uragold Bay Resources, a junior exploration company listed on the TSX Venture under the symbol UBR. Quebec Quartz holds a strategic portfolio of high purity silica (+99.5% SiO2) deposits and closed silicon metal mines in 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