Uragold Announces Progressive IR Consultants Corp as IR Provider

MONTREAL, QUEBEC--(Marketwire - April 18, 2012) - Uragold Bay Resources Inc. (TSX VENTURE:UBR), is pleased to announce that it has retained Progressive IR Consultants Corp. ("Progressive") as its investor relations and corporate communications service provider. Progressive is a Vancouver, BC, Canada based company that has provided marketing and investor relations services for publicly traded companies on the TSX and TSX Venture exchanges since 2006.

Progressive has been retained for a three-month period commencing in April, 2012 and ending in July 2012, the Agreement can be extended by mutual consent for a further period, and any extension will be subject to the terms and conditions of a new Agreement agreed to at that time. Progressive will be responsible for building Uragold Bay Resource's investment audience through the dissemination of corporate data packages, broker presentations, broker communications, mining analyst communications, attending trade shows and handling shareholder enquiries regarding the Company.

Progressive will receive $7,500 (plus HST) per month in remuneration and be reimbursed for all approved expenses. The Company will grant Progressive stock options to acquire 500,000 shares in the capital of the Company at an exercise price of $0.10, expiring in May 2013. The options are granted pursuant to the Company's Stock Option Plan and will vest in accordance with the provisions therein and the policies of the TSX Venture.

The agreement and grant of options is subject to TSX Venture approval.

Patrick Levasseur, president and COO of Uragold stated. "The retention of Progressive IR, a West Coast base IR Consultant firm, will enable the Corporation to increase its visibility outside its traditional base in Quebec."

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 and also holds the Asbury Graphite Mine property in the Laurentians of Quebec. 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.