UrbanGold Minerals Inc. announced the remaining assay results from its 10-hole drill program totalling 2,456 metres on its 100% owned 26,585-hectare Pallador Property (the "Property") in the Regnault area of the Troilus-Frotet region. The maiden drill program, executed in two phases, intersected gold in four holes, including visible gold within a quartz vein in hole UPR-21-09, located in the southeast part of the target area. Holes UPR-21-03, previously reported on February 24, 2021, and UPR-21-08, both intersected gold associated with highly magnetic diorites with carbonate alteration. In contrast, hole UPR-21-10 intersected gold within a magnetic low between the two mineralized magnetic highs. All holes drilled in the magnetic highs, including the important 900-metre-long magnetic feature, have intersected significant gold. Preliminary assessment of the gold system discovered by UrbanGold geologists indicates that gold mineralization is related with two distinct veining systems. One is dominated by 10% to 30% quartz-calcite veinlets associated with fine grained pyrite mineralization and occurs in multiple zones. The second mineralization system intersected consists of typical orogenic gold quartz veins with free coarse gold and sulphides. Follow-up work will need to focus on the newly uncovered large magnetic dioritic intrusive complex that hosts widely spaced intercepts of mineralization, and further east and southeast of the area drilled, where a similar unit and gold values were observed at the surface. The host rock identified by drilling is similar to 19 boulders sampled at the surface in 2020 in the vicinity of the holes. Analyses from these boulders graded above 0.8 g/t Au and up to 102.48 g/t Au, with most being of the size and shape that would indicate a nearby source. Anomalous soil dispersion trends in Au, Ag, Co, Mo and W also indicate a nearby source. Additional information, including pictures of the drill core, are available on the Company's website. Surface geological work is scheduled to resume in the spring and will be followed-up with additional drilling. UrbanGold's team is eager to review future results from Kenorland's recently announced 6,000m drill program located immediately north and west of the area drilled by UrbanGold.