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News Update

TICKERS: UGM

Explorer Concludes IP Survey and Selects Drill Targets at Quebec Gold Property
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UrbanGold Minerals reported it completed an induced polarization survey and has outlined drill targets at its Pallador project located in the Troilus-Frotet gold belt in Quebec.

In a news release, UrbanGold Minerals Inc. (UGM:TSX.V) announced that "it has received a detailed interpretation of the induced polarization (IP) survey it recently completed on a portion of its 100%-owned Pallador property in the Troilus-Frotet area, Quebec."

The firm explained that "the IP survey was completed in the Regnault area, and along strike with and 400 meters south of Kenorland Minerals Ltd. drilling that has initially outlined their recent discovery."

UrbanGold advised, "The high-definition IP anomalies strongly correlate with the geochemical anomalies identified last month, and also with the locations of several gold- bearing boulders discovered by UrbanGold geologists that exhibit values up to 102 g/t Au." The company stated that the additional data collected has been instrumental in allowing its exploration team to identify and select drill targets and that those permits have already been obtained.

The company's President and CEO Mathieu Stephens stated, "The Kenorland discovery is a game changer for the area and we are right next door to it. More importantly, however, the UrbanGold claims are on strike to what appears to be a 2-kilometre-long gold system. In the 3 months that have passed since the Regnault discovery was announced, UrbanGold's exploration team has been able to locate numerous gold-bearing boulders and recognize priority soil anomalies that coincide with the recently identified IP chargeability targets. The next step in the exploration process is to drill these targets, some of which are located 400 meters from the Kenorland drilling."

UrbanGold reported that it is already engaged in the process of mapping out its maiden drill program. The firm pointed out that the target locations have been identified and are readily accessible by an existing dirt road on the property and that road in turn is located only two kilometers from Route-du-Nord, an all-weather road.

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Disclosure:
1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: UrbanGold Minerals. Click here for important disclosures about sponsor fees.
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