TORONTO, ONTARIO--(Marketwired - Jan. 18, 2017) -
NOT FOR DISTRIBUTION TO U.S. WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
Urbana Corporation ("Urbana") (TSX:URB)(TSX:URB.A)(CSE:URB)(CSE:URB.A)(CSE:URB.CN)(CSE:URB.A.CN) is pleased
to report that a drill contract has been awarded for its upcoming 2017 drilling program on its Urban property, Quebec.
Urbana's drill program will comprise of a minimum of 13 holes totaling at least 2,000 metres and will target potential
extensions of last winter's discovery that intersected 19.85 g/t Au and 82.0 g/t Ag over 1.1 metres near surface (June
6th, 2016 news release). A series of untested exploration targets will also be drilled during the same program.
The project is managed by Beaufield Resources (TSX VENTURE:BFD) and will be done simultaneously to their own program on their
adjacent property which will benefit both companies by reducing overall costs.
Urbana's property consists of 44 claim cells totaling 1,154.44 hectares and is centrally located within the Urban-Windfall
district. The property is adjacent and on strike with Osisko's Mining Windfall deposit which recently announced very high grade
gold intersections. Several other companies including Metanor Resources and Bonterra Resources also operate in the area. Local
infrastructure is excellent and the property is easily accessible by newly established roads. Please refer to Urbana's website
for a detailed map indicating the principal stakeholders for the Urban-Windfall region.
Qualified Persons
This news release has been prepared by Mathieu Stephens, P.Geo, Vice President of Exploration and Corporate Development for
Beaufield, the Qualified Persons, as defined by National Instrument 43-101.
About Urbana Corporation
Urbana Corporation is a closed-end investment company with current interests across the financial services sector from
exchanges to banks to broker dealers and investment managers.
The goal of Urbana Corporation is to generate long term asset growth through a combination of public and private investments.
The mix of an actively managed, liquid portfolio with private equity investments ensures non committed assets are productively
employed as we seek out and evaluate opportunities in the non-public sphere. Many of the latter investments take time to mature
and typically encompass high risk/high return characteristics.
Urbana Corporation, as a result of its permanent capital base, has both the scope and flexibility to act quickly as
opportunities arise.
Forward-Looking Statements
Certain information contained in this press release constitutes forward-looking information, which is information relating
to possible events, conditions or results of operations which are based on assumptions about future economic conditions and
courses of action and which are inherently uncertain. All information other than statements of historical fact may be
forward-looking information. Forward-looking information is often, but not always, identified by the use of words such as "seek",
"anticipate", "budget", "plan", "continue", "estimate", "expect", "forecast", "may", "will", "project", "predict", "potential",
"target", "intend", "could", "might", "should", "believe", and similar words or phrases (including negative variations)
suggesting future outcomes or statements regarding an outlook. Forward-looking information involves known and unknown risks,
uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such
forward-looking information. Urbana believes that the expectations reflected in the forward-looking information are reasonable
but no assurance can be given that these expectations will prove to be correct. Some of the risks and other factors which could
cause results to differ materially from those expressed in forward-looking information contained in this press release are
described in Urbana's most recently-filed MD&A and Annual Information Form. Any forward-looking information in this press
release is provided as at the date of this press release, based upon the opinions and estimates of management and information
available to management as at the date of this press release. Urbana undertakes no obligation to update publicly or revise any
forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
Readers are cautioned not to place undue reliance on forward-looking information contained in this press release.