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UrbanGold Minerals Inc. (TSXV: UGM) ("UrbanGold" or the "Corporation")  is pleased to announce that following its recent IPO (Initial Public Offering) it has entered into an investor relations agreement (the "Agreement") with First Canadian Capital Corp. ("FCCC") to provide market awareness services. The Agreement dated March 4, 2019 is for a period of 12 months at a fee of $6,000 per month. Pursuant to the Agreement, UrbanGold has granted a stock option to FCCC to purchase 350,000 shares at an exercise price of $0.135 per share which shall vest at to one-quarter immediately and one-quarter on the three month, six month and 12 month anniversaries of the grant date.

Jens E. Hansen, P. Eng, Chairman of the board of directors of UrbanGold commented: "UrbanGold is a brand new exploration company with experienced geological management. Bringing FCCC on board as part of the team to assist us with market awareness is key to the long term success. I have previously worked with FCCC and its president Jason Monaco with effectiveness and success and very much look forward to continuing our relationship.This enables our geological management to concentrate on exploration."

About First Canadian Capital Corp.

Celebrating its 22nd year, Toronto-based First Canadian Capital develops strategic platforms for North American corporations that are utilized to gain exposure to and recognition within the capital markets. First Canadian's core competencies are centered around identifying quality assets and undervalued companies with high growth potential.

About UrbanGold

UrbanGold is incorporated under the federal laws of Canada and has its principal office in Ottawa, Ontario, Canada. UrbanGold is operating exclusively in Quebec, a high priority geological environment. Its focus is on priority exploration environments based on management's historical knowledge.

These environments include:

- Urban-Windfall-StarGold
- Troilus-Frotet
- James Bay

UrbanGold has not yet determined whether these properties might contain mineral reserves that are economically recoverable, and UrbanGold is considered to be in the exploration stage.

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 Corporation 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 Corporation's Final Prospectus dated December 13, 2018 filed on SEDAR at www.sedar.com for a discussion of these risks.

The Corporation 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 Corporation 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

Jason Monaco, First Canadian Capital Corp.
[email protected]
Phone: 416-742-5600

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

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