Ottawa, Ontario – January 8, 2021 – UrbanGold Minerals Inc. (TSXV: UGM) (“UrbanGold” or the “Company“) is exclusively focussing its activities this winter on its central Troilus-Frotet area properties. These properties consist of the Pallador property, 26,585 hectares, 100% owned by the Company and BullsEye property, 8,558 hectares, 50% owned by the Company under a joint venture with Argonaut Gold. UrbanGold is the operator.
Mathieu Stephens P Geo., President and CEO of the Corporation, has requested a temporary reduction of his duties to focus on personal matters and advance key Troilus-Frotet area exploration. The Board is pleased with the outstanding work done by Mr. Stephens in assembling the large and key Troilus-Frotet land package, and equally pleased he will focus on its exploration. During this temporary period, Jens Hansen P. Eng, the founder of Urbangold, has agreed to undertake the President and CEO functions. Mr. Hansen will receive assistance on specific matters from Urbangold board members.
Please see the Corporation’s news release dated December 21, 2020, for detailed information on the exploration activities carried out by the Corporation in the Frotet- Troilus area.
UrbanGold Minerals Inc. is a precious metals exploration company with its activities focused on the Troilus-Frotet gold belt, Quebec. The Company specializes in project generation supported by substantial exploration expertise. The Company’s common shares trade on the TSX Venture Exchange under the symbol “UGM”.