Uragold Acquires 100% Interest in 65 Mineral Claims Adjacent to Dios Rare Metals and Uranium Pontax Project Situated in

MONTREAL, QUEBEC, Apr 06 (MARKET WIRE) --
Uragold Bay Resources Inc. (Uragold) (TSX VENTURE: UBR), is pleased to
announce that it has signed an option agreement with a private vendor
regarding the acquisition of 100% interest in three separate claim blocks
representing sixty five (65) mineral claims situated in the James Bay
area of the Province of Quebec. The properties are located 80 km
southeast of Uragold's Uskawanis Uranium property.

All three claims blocks are adjacent to the joint Sirios Resources
(TSX-V: SOI) and Dios Explorations (TSX-V: DOS) Pontax project. The area
is part of a Greenstone Belt characterized by pegmatites found in mafic
volcanic rocks. Recent drill results by the Sirios/Dios venture returned
impressive results for the Rare Metals elements rubidium, beryllium,
tantalum and lithium.

Future exploration work on the property, to be named Enistuwach, will
happen in conjunction with an evaluation of the Rare Metals and other
minerals potential of UBR 314 km2 Uskawanis Uranium property ("UUP") and
the resumption of Uranium exploration work on the Uskawanis Uranium
property. The reopening date of Uragold's James Bay mining camp has yet
to be determined.

The motivation of the resumption of Uranium exploration on the UUP is
that re-assessment of the available data from the Uskawanis area has
compared the data with published work completed on radon anomalies
associated with springs in Europe. These springs showed abnormal
concentrations of radon being issued by the springs. It is suggested by
the author of the paper that radium is collected in the groundwater
flowing towards the investigated spring. The radium is collected on
organics at the point where the water issues from underground (due to Eh/
pH changes). This creates a high radium concentration at this point and
hence a high radon concentration. This is because radium and radon are
two of the elements lying towards the centre of the break down chain of
uranium to stable lead. Both have relatively short half-lives and
breakdown rapidly. A similar process is seen at Uskawanis.

Comparison of this model with the large disequilibrium seen at Uskawanis
(both in absolute terms and in volume of rock affected) and the
substantial amounts of radon present as witnessed in the springs and on
equipment, etc, more than ever convinces Uragold staff that it would take
a massive uranium deposit to replenish the radon in order to create such
high radon gas readings and the massive rock disequilibrium seen at
Uskawanis. The company's chief geologist, Vivian Stuart-Willams, is happy
that the currently proposed model of a deeply buried uranium source for
the radium and radon present at Uskawanis is correct. A programme to
investigate this further will be evolved.

Note: Mr. Vivian Stuart-Williams, (SACNASP), a Director of the Company
and a Qualified Person as defined by National Instrument 43-101,
supervised the preparation of the information in this news release.

Material terms of the agreement are as follows (all amounts are expressed
in Canadian dollars). In order to acquire its interest in the claims, the
Corporation shall make the following payments to the vendor:

The Vendor agrees to grant the Purchasers the exclusive and irrevocable
right to earn a one-hundred per cent (100%) interest in the Claims, in
consideration of one million (1,000,000) units, each unit consisting of
one common treasury share of Uragold and one warrant; each common share
purchase warrant entitles the holder thereof to acquire one additional
common share of Uragold at a price of $0,10 for a period of 24 months
following the closing of the agreement.

The Vendor shall be entitled to a two per cent (2%) Net Smelter Return
("NSR") royalty on all smeltable minerals or metals extracted from the
Claims.

Uragold shall at any time have the right to buy back one per cent (1%) of
the Royalty for one million dollars ($1,000,000). The Purchaser shall
have the right of first refusal to purchase the remaining one per cent
(1%) Royalty in whole or in part and shall have thirty (30) days from the
date of receipt of a written notice from the Vendor to exercise its right
of first refusal.

The transaction is made with a party that is non-related to the
Corporation. The option agreement is conditional to the approval of the
Board of Directors of Uragold and the transaction is subject to approval
by regulatory authorities. Further to the acquisition and its approval,
the Vendor will transfer the titles of the claims to Uragold.

Bernard Tourillon, UBR Chairman and CEO comments: "The acquisition of the
Enistuwach property is motivated by our desire to combine the re-start of
our exploration on our UUP project to the discovery of Rare Metal
elements on the Pontax Project near our properties. We have always
believed in the truly unique blue sky Uranium potential of our UUP
concession and the re-assessment of the available data only strengthens
this position. Thanks to this acquisition, we intend also to evaluate any
other minerals potential that could be found on our massive concessions
holdings in the area. The Goal of the Company is still to find a business
model that will allow us to delineate a significant gold resource that
can be placed into production relatively quickly on our Appalachians
properties, while advancing the exploration of our blue sky Uranium
project on UUP. In this regards the Corporation is presently elaborating
it's 2010 exploration program and shareholders will be soon informed of
our plan going forward to develop our existing group of concessions. "

About Uragold Bay Resources Inc.

Uragold Bay Resources Inc. is a Canadian based junior resource and
exploration company trading under the symbol UBR on the TSX Venture
Exchange. The Company has 109,444,367 shares outstanding. The Company
holds 100% of the 314 km2 Uskawanis Uranium property located just south
of the Opinaca reservoir, 100% of the Blue Lake Base Metal and Gold
property situated close to Radisson in the James Bay region, 100% of the
"Saint-Francois and Dudswell Tertiary Gold concessions", 100% of the "Moe
River Placer Gold Project", 100% of the "Eaton North Placer Gold Project,
100% of the Calway River Gold project, 100% of the Riviere du Loup Gold
and Platinum placer mine, 100% of the Samson River Gold Project and 50%
with an option to get 100% of The Beauce Placer Gold Project". In
addition the Corporation is also staking promising projects in the
eastern regions of the Province of Quebec.

Neither 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. This press
release contains certain "forward-looking statements," as identified in
the Uragold Bay periodic filings with Canadian Securities Regulators that
involve a number of risks and uncertainties. There can be no assurance
that such statements will prove to be accurate and actual results and
future events could differ materially from those anticipated in such
statements.

Contacts:
Uragold Bay Resources Inc.
Bernard J. Tourillon
Chairman and CEO
514-846-3271
Toll-free 1-888-666-3431

Uragold Bay Resources Inc.
Patrick Levasseur
President and COO
514-846-3271
Toll-free 1-888-666-3431
www.uragold.com

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