UrbanGold Hires Senior Technical Advisor, Increases Its Troilus Land Position and Dispatches Field Crew

Ottawa, Ontario--(Newsfile Corp. - June 8, 2020) - UrbanGold Minerals Inc. (TSXV: UGM) ("UrbanGold" or the "Company") is pleased to report it has hired geologist Robert Fraser as the Company's senior technical advisor. Mr. Fraser was directly responsible for discovery of the Troilus Mine in the late 1980s by Kerr Addison Mines Ltd.

Mathieu Stephens, President and CEO for UrbanGold commented: "We are very pleased that Mr. Fraser contacted UrbanGold regarding the potential of our Troilus area properties and we are delighted that he has accepted to advise the Company on its upcoming exploration programs. Mr. Fraser is well known in the industry and we anticipate that UrbanGold will greatly benefit from his wealth of knowledge and experience in the area."

Following the acquisition of the Quebec Precious Metals property (see news release of May 26, 2020), UrbanGold has expanded its land position in the Troilus area with the acquisition of 58 new mineral claims by map staking, bringing its total land package to 25,600 hectares.

The additional claims cover under-explored prospective ground within greenstone terrane and where important electromagnetic anomalies are present which have never been drill tested. A field crew has been dispatched to the area last week and have commenced surface exploration on priority targets. The planned summer/fall exploration program encompasses geology, geochemistry, geophysics and drilling, details for which will be provided in a subsequent news release.

About UrbanGold

UrbanGold Minerals Inc. is a precious metals exploration company with its activities focused in key gold prospective areas of 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".

Forward Looking Information

This news release may contain certain forward-looking information and statements, including without limitation the planned summer/fall exploration program. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in UrbanGold's disclosure documents on the SEDAR website at www.sedar.com. UrbanGold does not undertake to update any forward-looking information except in accordance with applicable securities laws.

For further information

Mathieu Stephens, P.Geo
President and Chief Executive Officer

Jens Hansen, P.Eng
Chairman of the Board

Phone (343) 883-4334

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/57418