Urbana Corporation Intersects 4.2 g/t Au over 10 Metres and Begins Second Drill Program
/NOT FOR DISTRIBUTION TO U.S. WIRE SERVICES OR FOR DISSEMINATION IN THE U.S./
TORONTO, March 16, 2026 (GLOBE NEWSWIRE) -- Urbana Corporation (“Urbana” or the “Corporation”) (TSX & CSE: URB; URB.A) is pleased to announce the commencement of a new diamond drilling program (the “2026 Drilling Program”) on its mining property, located in Urban Township, Québec (the “Urban Township Project”), within one of Canada’s most active emerging gold camps following the C$2.16 billion acquisition of Osisko Mining by Gold Fields Limited in 2024.
In 2025 the Corporation conducted a drilling program (the “2025 Drilling Program”) that focused on the southern portion of the Project and consisted of 17 drill holes totaling 5,226 metres. The best intersection came from hole UU-25-12, which returned 4.2 g/t Au over 10.0 metres near surface.
The 2026 Drilling Program, which consists of 3,000 metres of drilling, will follow up on these results by testing potential extensions of the discovery while also evaluating additional targets across the property. A table summarizing the most significant results from the 2025 Drilling Program is provided below.
One of these zones occurs along the Mazères–Windfall fault zone, where a previous drill hole returned 3.28 g/t Au over 3.45 metres, highlighting the potential for structurally controlled gold mineralization within the project area.
The 2026 Drilling Program will also evaluate several additional targets identified through historical data compilation and a summer reconnaissance field program. During this work, previously undocumented drill collars were located, confirming areas where historical drilling coverage remains incomplete.
Drilling will include testing the Farchell showing, where a 203 g/t Au grab sample was collected during the summer program, as well as the Roben occurrence, which hosts a historical drill intersection of 30.5 g/t Au over 2.3 metres (Sigeom – GM57860).
Additional targets have been defined through the integration of geological mapping, structural interpretation, and geophysical anomalies. Several of these targets lie along favourable structural trends yet remain untested by previous drilling, offering significant potential for new discoveries within the project area.
The Corporation believes that the combination of high-grade surface results, encouraging historical drilling, and strong structural controls provides a compelling exploration framework for the Urban Township Project. Results from the current drill program are expected to further define the scale and continuity of gold mineralization across the property.
“The results from last year’s drilling program were extremely encouraging and confirmed the presence of near-surface gold mineralization over larger widths than any previous drilling,” said Thomas S. Caldwell, Chief Executive Officer of Urbana Corporation. “With gold prices now trading above US$5,000 per ounce, discoveries like this take on even greater significance and demonstrate the strong potential of the Urbana Township Project, particularly given its location within an emerging gold district. Our upcoming drill program is designed to build on this momentum and further evaluate the scale of the mineralized system.”
Urbana’s 1,154.4 - hectare Urban Township Project is centrally located within the Urban–Windfall district, an area widely recognized as prospective for gold mineralization. The property lies adjacent to, and along strike from, Windfall deposit, a high-grade gold deposit owned by Gold Fields Limited, as well as the past-producing Barry deposit operated by Bonterra Resources.
Local infrastructure in the region is excellent, with the project easily accessible by a network of all-weather roads. For additional context, including a regional map showing the principal property holders and stakeholders in the Urban–Windfall district.
Readers are invited to visit the Urbana Corporation’s website: https://www.urbanacorp.com/gold-prospect/.
Best drill results from 2025
| Drill Hole | From (m) | To (m) | Length (m)1 | Grade (Au g/t) |
| UU-25-01 | 89.20 | 92.65 | 3.45 | 3.27 |
| UU-25-01 | 113.70 | 120.00 | 6.30 | 1.26 |
| UU-25-02 | 110.20 | 114.00 | 3.80 | 0.58 |
| UU-25-03 | No Significant Values | |||
| UU-25-04 | No Significant Values | |||
| UU-25-05 | 213.00 | 215.00 | 2.00 | 1.15 |
| UU-25-05 | 286.75 | 289.75 | 3.00 | 1.01 |
| UU-25-05 | 327.30 | 328.70 | 1.40 | 1.06 |
| UU-25-06 | No Significant Values | |||
| UU-25-07 | No Significant Values | |||
| UU-25-08 | No Significant Values | |||
| UU-25-09 | 258.00 | 261.00 | 3.00 | 0.54 |
| UU-25-10 | 46.50 | 48.00 | 1.50 | 0.97 |
| UU-25-10 | 229.30 | 230.05 | 0.75 | 3.55 |
| UU-25-11 | No Significant Values | |||
| UU-25-12 | 23.00 | 33.00 | 10.00 | 4.23 |
| Including | 28.50 | 30.00 | 1.50 | 23.40 |
| UU-25-12 | 52.00 | 53.50 | 1.50 | 1.44 |
| UU-25-12 | 73.00 | 74.00 | 1.00 | 1.49 |
| UU-25-13 | 18.85 | 19.35 | 0.50 | 6.43 |
| UU-25-13 | 139.50 | 140.00 | 0.50 | 2.60 |
| UU-25-13 | 221.00 | 222.25 | 1.25 | 1.03 |
| UU-25-13 | 243.50 | 247.60 | 4.10 | 0.40 |
| UU-25-14 | 154.20 | 155.20 | 1.00 | 1.10 |
| UU-25-15 | 26.00 | 27.00 | 1.00 | 1.17 |
| UU-25-15 | 192.60 | 195.35 | 1.75 | 0.58 |
| UU-25-16 | No Significant Values | |||
| UU-25-17 | 151.40 | 152.40 | 1.00 | 1.62 |
1 Intervals reported in this news release represent drill lengths. True widths of the mineralized intervals are not known.
QAQC
The Corporation follows industry-standard Quality Assurance and Quality Control (QA/QC) procedures. Diamond drill core (HQ and PQ diameter) was sawn in half, with one-half submitted to ALS Laboratories in Val d’Or, Quebec, a ISO 9001-certified independent analytical laboratory with internationally recognized quality standards.
Gold analyses were completed by fire assay, with copper and silver initially determined by aqua regia digestion and atomic absorption and subsequently updated using four-acid digestion (MS48) multi-element analysis.
Certified reference materials (OREAS 222 and OREAD 240) and blanks were inserted into the sample stream at industry-standard frequencies, including routine insertion of blanks following mineralized intervals. Duplicates where also inserted randomly within the samples. All assay batches have passed QA/QC review and fall within acceptable tolerance limits.
Qualified Persons
This news release has been prepared by Mathieu Stephens, P.Geo, Principal Geological Consultant for Urbana, who is a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Stephens is not independent of the Company.
For further information, contact:
Elizabeth Naumovski
Investor Relations
Urbana Corporation
(416) 595-9106 enaumovski@urbanacorp.com
The information set forth in this news release includes certain forward-looking statements. Such statements are based on assumptions exposed to major risks and uncertainties. Although Urbana deems the expectations reflected in these forward-looking statements to be reasonable, the Corporation cannot provide any guarantee as to the materialization of the expectations reflected in these forward-looking statements. Urbana expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
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