November 07, 2012 at 09:50 AM EST
Uragold Extends and Re-Prices Share Purchase Warrants

MONTREAL, QUEBEC--(Marketwire - Nov. 7, 2012) - Uragold Bay Resources Inc. (Uragold) (TSX VENTURE:UBR) announces that, by a resolution adopted on November 5, 2012, its Board of Directors has authorized the extension, until November 30, 2013, of 7,500,500 issued and outstanding share purchase warrants from the following series

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-- 2,450,000 expiring on December 7, 2012,

-- 1,625,500 expiring on December 16, 2012,

-- 1,470,000 expiring on December 31, 2012,

-- 387,500 expiring on January 7, 2013,

-- 937,500 expiring on September 13, 2013,

-- 630,000 expiring on December 22, 2013.

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The Board of Directors also authorized that the present exercise price of $0.40 be re-priced at $0.10 per share.

As of today, none of these purchase warrants has been exercised.

The extensions and re-pricing are subject to the approval of regulatory authorities.

About Uragold Bay Resources Inc.

Uragold Bay Resources is a junior exploration company trading on the TSX Venture Exchange under the symbol UBR. Uragold holds gold properties in Southern Quebec's Appalachian belt. The properties benefit from extensive historical exploration work and from well-established infrastructure thereby helping to reduce exploration risks. Uragold's business model focuses on developing, a series of potential small scale low-cost mining operations for their potential in generating cash flow while simultaneously exploring core properties that hold the potential for the discovery of blue sky gold deposits like the MacDonald project.

Shares outstanding: 44,184,327

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

Contact:

Patrick Levasseur

President and COO

(514) 846-3271

www.uragold.com

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