Mr. Mathieu Stephens reports

URBANGOLD ANNOUNCES 2,500 METRES DRILL PROGRAM AT PALLADOR IN THE TROILUS AREA

Urbangold Minerals Inc. will begin a minimum 2,500-metre drill program in August, 2020, at the company's 100-per-cent-owned Pallador project in the Troilus area, Quebec. The upcoming drill program will test the newly discovered gold-bearing quartz vein system announced yesterday, where several grab samples have returned values of up to 33 grams per tonne gold (Urbangold's July 22, 2020, news release).

The program is designed to test for lateral continuity at depth of the system and for other possible parallel veins. Several other gold targets in the vicinity will be drill tested, including an area located six kilometres southeast, where historical work had identified palladium values of interest in several locations, including a channel sample of 0.6 gram per tonne palladium over one metre. This value is historical, predates National Instrument 43-101 standards and may not represent true width.

Drilling will also focus on other portions of the Pallador project where strong electromagnetic anomalies are present, including one that is located up ice from a gold-anomalous boulder and till train. Several other neighbouring companies are working in the area, and several base metal deposits are also located nearby.

Mathieu Stephens, Urbangold's president and chief executive officer, commented: "We have several targets of merit that we intend to drill right away on the ground that we own 100 per cent. We are ramping up exploration, and surface work will also continue on other parts of the property as drilling progresses."

Readers are cautioned that grab samples are selective in nature and may not be representative of the mineralization hosted on the property.

Qualified person

Technical aspects of this news release have been reviewed and approved by Mathieu Stephens, PGeo, president and chief executive officer of Urbangold, a qualified person, as defined by NI 43-101.

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