Uragold Closes Non-Brokered Private Placement

Uragold (the "Company""UBR")(TSX VENTURE:UBR), is pleased to announce that it
has closed a non-brokered private placement for a total placement of
$116,200.00. This will result in sale of up to 1,936,667 units (Units) at a
subscription price of $0.06. Each Unit being comprised of 1 common share and 1
common share purchase warrant (the Warrants") of the Company. Each Warrant will
entitle the holder thereof to purchase one common share of the capital stock of
the Company at an exercise price of $ 0.10 during a period of 24 months from the
date of closing of the placement. Each share issued pursuant to the placement
will have a mandatory four (4) month holding period from the date of closing of
the placement. The placement is subject to standard regulatory approvals. 


Two Directors of the Corporation have subscribed a total of $45,000 to this
placement.


About Uragold Bay Resources Inc. 

Uragold Bay Resources is a junior exploration company trading on the TSX Venture
Exchange under the symbol UBR. Uragold holds gold properties in Southern
Quebec's Appalachian belt. The properties benefit from extensive historical
exploration work and from well-established infrastructure thereby helping to
reduce exploration risks. Uragold's business model focuses on developing, a
series of potential small scale low-cost mining operations for their potential
in generating cash flow while simultaneously exploring core properties that hold
the potential for the discovery of blue sky gold deposits like the MacDonald
project.


Shares outstanding: 42,247,660