SOURCE: Unico, Inc.

Unico, Inc.

October 27, 2009 10:42 ET

Unico, Inc. Announces Approval for Construction of New Tailings Pond at the Deer Trail Mine

SAN DIEGO, CA--(Marketwire - October 27, 2009) - Unico, Incorporated (OTCBB: UNCO), a natural resource company in the precious metals mining sector, today announced that the company's wholly owned Deer Trail Mining Company subsidiary has received an approval for the construction of a new tailings impoundment at the Deer Trail Mine in Marysvale, Utah. The new tailings impoundment is expected to allow for full-scale production for up to one year.

In September 2009, Deer Trail Mining Company submitted its application to acquire the necessary permits to construct the new tailings pond with the Utah Department of Environmental Quality and its regulatory agency, the Division of Water Quality, for the construction of the new tailings impoundment. Documentation regarding the planned tailings impoundment is being submitted to the Utah Division of Oil, Gas and Mining for reclamation calculations and approval. Approval for the construction of the new tailing pond was received from the Division of Water Quality several days ago.

The company anticipates construction of the tailings impoundment being completed before the end of the 2009 calendar year and put into use immediately after construction is completed.

"We are pleased to have received approval of the construction permit for the new tailings pond and appreciate the Division of Water Quality processing our application in a timely manner," said Charles Madsen, executive vice president for operations of Unico, Inc. "The new impoundment is necessary for us to keep pace with the planned increase in processing operations at the Deer Trail Mine. We look forward to initiating construction of the new pond and moving our Deer Trail project forward."

Unico, Inc. recently announced an initial agreement with Royal Mines And Minerals Corporation, which utilizes a proprietary technology for the lixiviation of precious metals, to process ore from the Deer Trail Mine. Concentrate and concentrate samples produced at the Deer Trail mill facility has been shipped to Royal Mines' Phoenix facility for the processing of gold and silver content. The purpose of this initiative is to develop the most economical process and achieve the highest possible recovery of precious metals, primarily gold and silver, from material produced at the site.

Shareholders who would like to sign up to receive information by email directly from Unico, Inc., including when newsletters are posted to the company website, are asked to visit the company's website at http://www.unicomining.com/IR/mailinglist.php and fill in the appropriate fields.

About Unico, Inc.

Unico, Inc. (OTCBB: UNCO) is a publicly traded natural resource company in the precious metals mining sector that is focused on the exploration, development and production of gold, silver, lead, zinc, and copper concentrates at its two mine properties: the Deer Trail Mine and the Silver Bell Mine. Unico and its wholly owned Deer Trail Mining Company subsidiary completed the purchase of the Deer Trail Mine in 2007, and Unico has also announced agreements to acquire over 70 additional mining claims in the area of the Deer Trail Mine including the Clyde and Crown Point mining claims. For more information, please visit www.unicomining.com.

Forward-Looking Statements: This news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and such Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. The company may experience significant fluctuations in operating results due to a number of economic, competitive and other factors. These factors could cause operation results to vary significantly from those in prior periods, and those projected in forward-looking statements. Information with respect to these factors, which could materially affect the company and its operations, are included on certain forms the company files with the Securities and Exchange Commission.

Contact Information

  • Contact:
    Gemini Financial Communications, Inc.
    Investor Relations
    888-528-0883
    Email Contact