PRESS RELEASE

Urbana Corporation is pleased to announce that the decision of the Toronto Stock Exchange Filing Committee has been overturned and the suspension from trading will be lifted subject to conditions set out by the Filing Committee. Urbana is undergoing an active exploration program for 1999 and is anticipating an expenditure of $250,000 in 1999 on the Urban Township, Quebec property.

 

A market for Urbana’s shares is currently being called on the Over-the-Counter market in Toronto. The current quote is $1.05 to $1.15.

 

Urbana Corporation is a mineral exploration company currently focusing its efforts on 48 claims in Urban Township, Quebec. The Barry and Urban township area has been the focus of active exploration for the past 3 years. The company is well capitalized with a marketable investment portfolio of $800,000 or $0.36 per share. There are no significant liabilities. Management controls approximately 45% of the 2.2 million share outstanding.

 

Thomas S. Caldwell
President

 

 

Investor Relations: (416) 595-9106