Uragold Bay Resources Inc.

Uragold Bay Resources Inc.

December 20, 2010 10:39 ET

Uragold Completes the Acquisition of the Windsor Gold Anomaly

MONTREAL, QUEBEC--(Marketwire - Dec. 20, 2010) - Uragold Bay Resources Inc. (Uragold) (TSX VENTURE:UBR), Uragold is pleased to announce it has completed the acquisition of 100% interest in 17 claims by map staking the Windsor Property. It holds a 7 km long auriferous anomaly suggesting the possible presence of a sediment-hosted gold deposit.

The Windsor Property is located in the Quebec Appalachians 20 km north of the city of Sherbrooke, in the Eastern Townships region of the Province of Quebec. Adjacent to the south and east of the Windsor Property is BOWMORE Exploration Ltd. (BOW: TSX-V) St-Victor Property, on which they have recently discovered broad gold anomalies. Bowmore has strategic alliance with Osisko Mining Corporation Ltd. (OSK: TSX) for the exploration of grassroots exploration projects.

The lithology is similar to the Bowmore property consisting of a sedimentary package dominated by semi-massive sulphides, claystone and mudstones of the Magog Group and of the St-Daniel mélange.

The Windsor property holds two gold anomalies discovered in 1993, cataloged by Quebec Ministry of Natural Resources (MRNF) as the Windsor 2 and Windsor 3 showings. The mineralized bodies are aligned in a southwest to northeastern direction. Gold mineralization is associated with pyritic nodules and bedding with veins of quartz-carbonate in sedimentary rocks. The Windsor 3 showing reported a rock sample (RB-92-51) of up to 2.2 grams per ton of gold.

Note: Mr Vivian Stuart-Williams, (SACNASP), a Director of the Company and a Qualified Person as defined by National Instrument 43-101, supervised the preparation of the information in this news release.

Patrick Levasseur, president and COO of Uragold stated. "Past and current exploration work reveals the possibility of discovering sediment-hosted gold deposits or Carlin type deposits within the Quebec Appalachians." 

About Uragold Bay Resources Inc.

Uragold Bay Resources is a junior exploration company trading on the TSX Venture Exchange under the symbol UBR. Uragold is a top claims holder 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 gold mining operations including the Beauce Placer, the Calway, the Riviére du Loup, Rivière Bergeron, and Grande Coulée 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.

The recent rise in Uranium prices combined with the discovery of Rare Earth Element deposits in the area close to Uskawanis, allows the Corporation to explore once again the potential of our James Bay projects.

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.

Contact Information

  • Uragold Bay Resources Inc.
    Bernard J. Tourillon, Chairman and CEO
    Toll-free 1-888-666-3431
    Uragold Bay Resources Inc.
    Patrick Levasseur, President and COO
    Toll-free 1-888-666-3431