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TORONTO, Aug. 16, 2024 (GLOBE NEWSWIRE) -- Urbana Corporation ("Urbana" or the “Corporation”) (TSX and CSE: URB, URB.A) holds a significant gold prospect in Urban Township, Quebec comprised of 44 claims or 1,154.4 hectares (2,852.7 acres) in the Urban-Windfall Gold Camp (“Urbana’s Holdings”).
Urbana’s Holdings are carried at a zero valuation on Urbana’s financial statements.
Urbana welcomes Gold Fields Limited’s (“Gold Fields”) increased involvement in the area with its $2.16 billion acquisition of Osisko Mining Inc. (“Osisko”) and looks forward to their continuing development of the Windfall mining project.
Urbana’s Holdings are immediately adjacent to both Osisko’s and BonTerra Resources Inc.’s land positions.
As Mike Fraser, CEO of Gold Fields stated in Osisko’s press release, dated August 12, 2024, “…we have developed a strong understanding of Windfall and its potential, and view it as the next long-life cornerstone asset in our portfolio…”
Urbana is optimistic regarding the future potential of its long held claim group in the area.
On behalf of Urbana’s Board of Directors Thomas S. Caldwell, C.M.
Please contact Elizabeth Naumovski, Investor Relations, at 416-595-9106 or enaumovski@urbanacorp.com for further information.
Certain statements in this news release constitute “forward-looking” statements that involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Urbana to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Unless required by applicable securities law, Urbana does not assume any obligation to update these forward-looking statements.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/Attach...e46fa41360
150 KING ST. W., SUITE 1702, P.O. Box 47, TORONTO, ONTARIO M5H 1J9 TEL: 416-595-9106 www.urbanacorp.com
