MONTREAL, QUEBEC--(Marketwire - Dec. 12, 2011) - Uragold Bay Resources Inc. (TSX VENTURE:UBR), Uragold reports that the Company has granted a total of 4,850,000 stock options to Members of the Board, officers and to a consultant of the Company. The stock options are exercisable for a period of five years at an exercise price of $0.10 per share. The options were granted under and are subject to the terms and conditions of the Company's Stock Option Plan.
Other corporate matters
It was previously announced on November 24, 2011 that Uragold's Board of Directors, by a resolution adopted on November 11, 2011, has authorized the extension until December 11, 2012 of 5,500,000 share purchase warrants that were set to expire on December 11, 2011. The Company announces the cancellation of the extension of these warrants.
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 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.
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:
Chairman and CEO
(514) 846-3271
Patrick Levasseur,
President and COO
(514) 846-3271
www.uragold.com