Urbana (TSX: CSE; URB; URB.A) announced the commencement of a new diamond drilling program on its mining property, located in Urban Township, Quebec, 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.
“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,” Thomas S. Caldwell, CEO of Urbana Corporation, said. “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.”
In 2025 Urbana conducted a 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 gold 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.
One of these zones occurs along the Maz?res–Windfall fault zone, where a previous drill hole returned 3.28 g/t gold 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 gold 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 gold over 2.3 metres.
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.
Urbana believes 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.
More information is posted at www.Urbanacorp.com/gold-prospect/
March 18, 2026
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