Mr. Bernard Tourillon reports

URAGOLD APPOINTS PETER SMITH DIRECTOR OF THE CORPORATION

Uragold Bay Resources Inc. has appointed Peter H. Smith, PhD, PEng, to the company's board of directors, effective Feb. 20, 2015.

Mr. Smith is a director and founder of Fancamp Exploration Ltd., and is presently chairman of the board and president. He has been a director of Fancamp Exploration and its predecessor company, Fancamp Resources Ltd., since January, 1986. He is presently a director of Lamelee Iron Ore Ltd., since May of 2014, and served as a director of Argex Titanium Inc. from October, 2009, to May, 2013. He has served as a director of Litewave Corp. and St. Georges Platinum Base Metals Ltd. since January, 2010, leaving the latter company in October, 2010. He was a director of Golden Hope Mines Ltd. from May, 1997, to August, 2009. He is a member of the Ontario Order of Professional Engineers, and is a former director of the Prospectors and Developers Association of Canada.

Patrick Levasseur, president and chief operating officer of Uragold, stated: "I would like to welcome Mr. Smith to the board and look forward to his contributions. Peter brings to the company decades of experience in the mining sector. He is a proven project incubator and developer."

Other corporate development

The company would like to make the following correction to its Feb. 6, 2015, press release regarding the acquisition of the Morin paleoplacer gold project located in the municipality of Saint-Augustin-de-Woburn in the Eastern Townships region of Southern Quebec.

The terms of the acquisition in the press release should have mentioned that each unit comprised one common share and one-half common share purchase warrant of the company, and not one full common share purchase warrant.

Shares for services program

In accordance with the agreement between Uragold and Agoracom (see Uragold press release dated July 18, 2014), the Uragold board has approved the issuance of 282,500 common shares at a deemed price of five cents per share for the outstanding debt of $14,125 for services rendered during the period ending Jan. 15, 2015.