TORONTO, ONTARIO--(Marketwired - March 7, 2016) -


Urbana Corporation ("Urbana") (TSX:URB)(TSX:URB.A)(CSE:URB)(CSE:URB.A) is pleased to announce the completion of approximately 40 kilometres of line-cutting and the start of a deep-penetrating induced polarization (IP) and magnetometer survey on its Urban property, located 200 kilometres northeast of Val d'Or, Quebec.

The survey is design to cover the entire southern portion of the property, an area believed to host an important regional fault and associated with gold mineralization at the nearby Windfall project owned by Oban Mining Corporation. A review of historical data for this portion of Urbana's property indicates that it is underexplored, with almost no prior geophysics or drilling, and with little bedrock exposure. The area is located only a few kilometres from the open-pit Barry deposit owned by Metanor Resources.

In 2015, the northern portion of the property along with Beaufield Resource's adjacent property was surveyed. Several high-priority targets where identified by the survey, some of which were subsequently drilled by Beaufield including one hole that intersected 7.86g/t Au over 6m. This demonstrates the effectiveness of the technology in identifying potential mineralized zones.

Results from the IP and magnetic surveys will be used to better define underlying geological features and aid in developing drill targets. The survey will be completed on 100 meter spaced lines and readings will be taken every 25 meters. Results from the high resolution deeply penetrating IP survey and ground magnetic survey will be useful in determining additional targets for the upcoming drill program.

The Urban property consists of 44 claims cells totaling 1,154.44 hectares and is centrally located within the Urban-Barry camp. For efficient exploration of the adjoining properties, Urbana's exploration program is being managed by Beaufield's exploration team.

PDAC 2016

Beaufield will be attending the Prospectors and Developers Conference (PDAC) in Toronto from March 6th to March 9th, 2016 at booth #2903. We welcome visitors to come meet Beaufield's team and learn more about Urbana Corporation's exploration project at Urban.

Qualified Persons

This news release has been prepared by 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.

The information set forth in this press 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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this Release.

Contact Information:

Urbana Corporation
Thomas S. Caldwell
Chief Executive Officer
(416) 595-9106

Urbana Corporation
Elizabeth Naumovski
Investor Relations
(416) 595-9106