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UrbanGold Minerals Inc. ("UrbanGold" or the "Company") (TSXV: UGM) is pleased to announce, subject to regulatory approval, the appointment of its Chief Executive Officer and Vice President of Exploration, Mathieu Stephens, P.Geo to the board of directors of the Company, effective immediately.

Mr. Stephens is a professional geologist with over 15 years of exploration and management experience in both mining exploration and the securities industries. Mr. Stephens is a graduate of the University of Quebec in Montreal and is a registered professional geologist with the Ordre des Géologues du Québec. Native of the Abitibi mining region, he is also fluent in both English and French and is an existing shareholder of the Company.

Prior to joining UrbanGold, Mr. Stephens led the exploration team at Beaufield Resources Inc. until its successful acquisition by Osisko Mining and previous to that held middle management positions at Canaccord Genuity in Vancouver for several years.

Chairman of the Board of Directors, Jens E. Hansen, P. Eng states: "We are very pleased to welcome Mathieu to UrbanGold's Board of Directors. His appointment emphasizes our Quebec focus where he knows the important geological, administrative and financial people. His enthusiasm for UrbanGold's projects and extensive experience in the Val d'Or, Windfall and Troilus mineral areas will be key to our success as exploration transitions into its next phase which is to include drilling."

About UrbanGold

UrbanGold Minerals Inc. is a gold and base-metals exploration company, federally incorporated and headquartered in Ottawa, Ontario, Canada. The Company's common shares trade on the TSX Venture Exchange under the symbol "UGM". UrbanGold is focussed on mineral exploration in Quebec with emphasis on the Urban-Barry (Windfall) and Troilus mineral belts.

Forward Looking Information

This press release contains "forward-looking information" within the meaning of applicable securities laws that is intended to be covered by the safe harbours created by those laws. "Forward-looking information" includes statements that use forward-looking terminology such as "may", "will", "expect", "intend", "anticipate", "believe", "continue", "potential" or the negative thereof or other variations thereof or comparable terminology.

Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made. Furthermore, such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by forward-looking information. See "Risk Factors" in the Company's Final Prospectus dated December 13, 2018 filed on SEDAR at www.sedar.com for a discussion of these risks.

The Company cautions that there can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, investors should not place undue reliance on forward-looking information.

Except as required by law, the Company does not assume any obligation to release publicly any revisions to forward-looking information contained in this press release to reflect events or circumstances after the date hereof.

For further information

Mathieu Stephens, Chief Executive Officer
[email protected]

Jens Hansen, Chairman of the Board
[email protected]

Phone (613) 721-2919
www.urbangoldminerals.com

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

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