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Urbana Corp
Symbol URB
Shares Issued 10,000,000
Close 2017-04-24 C$ 3.64
Market Cap C$ 36,400,000
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Urbana completes winter drilling at Urban

2017-04-25 15:24 ET - News Release

Mr. Thomas Caldwell reports

URBANA CORPORATION: WINTER DRILLING COMPLETED ON THE URBAN TOWNSHIP PROPERTY

Urbana Corp. has completed its winter drilling program on its Urban township property in Quebec. Twelve drill holes totalling 2,250 metres were concentrated on the southern portion of the property where a series of geophysical anomalies had previously been identified by an expansive induced polarization and magnetic survey. Drilling also targeted possible extensions of the gold discovery announced on June 6, 2016, where hole UU-16-10 had intersected 19.85 grams per tonne gold over 1.10 metres near surface.

The drilling area is located eight kilometres southwest of Osisko Mining's nearby Windfall gold project, which displays similar geological features to Urbana's property. Historical data for the property area indicate the presence of several gold occurrences following different mineralized trends. The current drilling targeted selected high-priority geophysical anomalies located along previously untested portions of these geological trends, some of which are believed to be contained within a major shear zone.

A total of 1,379 drill core samples and 76 quality control samples were sent to ALS Laboratories in Val d'Or for assaying. Results are expected within a few weeks and will assist in planning future work on the property.

The drill program was executed under the supervision of Mario Justino, PGeo, a seasoned geologist experienced in advanced gold projects.

Easily accessible by road, the Urban township property consists of 44 claim cells totalling 1,154.44 hectares centrally located within the Urban-Barry camp and is adjacent to properties owned by Osisko Mining, Beaufield Resources and Metanor Resources. The area has seen resurgence in exploration activity over the past years, with several expansive drill programs under way and recently added infrastructure.

Qualified person

This news release has been prepared by Mathieu Stephens, PGeo, vice-president of exploration and corporate development, for Beaufield, a qualified person as defined by National Instrument 43-101.

About Urbana Corp.

Urbana is a closed-end investment company with current interests across the financial services sector from exchanges to banks to broker dealers and investment managers.

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