UrbanGold Minerals Inc. reported the completion of its initial drill program on its 100% owned 26,585-hectare Pallador Property in the Regnault area of the Troilus-Frotet region. Ten diamond drill holes totaling 2,452 metres targeted an area located immediately south of and on strike with Kenorland Minerals Regnault major gold discovery, which includes an intersection of 8.47 grams per tonne gold over 29 metres. UrbanGold's drilling focused on several high-priority targets, including coincident chargeability and geochemical anomalies in soil consisting of gold and known pathfinder elements. No previous historical drilling was recorded on this portion of the Property prior to the completion of UrbanGold's program. Four drill holes totaling 1,095 metres were completed before the holidays and samples have been sent to SGS Laboratories for assaying. Samples for the 6 holes drilled this month will also be sent out for assaying shortly. Maps showing the location of the drilling area are adjoined.