The TSX Venture Exchange has accepted for filing the documentation relating to an acquisition agreement dated July 7, 2020, between Urbangold Minerals Inc. and Soquem Inc. (the vendor), an arm's-length party to the issuer, in connection with the acquisition of a 100-per-cent interest in the Dileo-Nord property. The property, consisting of 77 claims totalling 4,182 hectares, is located in the Troilus area in the province of Quebec.

Pursuant to the agreement, the company shall issue 2,154,725 common shares at closing of the agreement.

The vendor will retain a 1-per-cent net smelter return (NSR) royalty on any saleable production from the property. Fifty per cent of the NSR royalty (0.5 per cent) may be purchased by the company for $500,000.

For further information, please refer to the company's news release dated July 9, 2020.