Unigold Inc.
TSX VENTURE : UGD

Unigold Inc.

March 02, 2017 21:44 ET

Dominican Republic's Government Upholds Unigold's Exclusive Rights to apply for the Neita Exploration Concession

TORONTO, ONTARIO--(Marketwired - March 2, 2017) - Unigold Inc. ("Unigold" or the "Company") (TSX VENTURE:UGD) would like to update shareholders on the status of its exploration concession application in respect of its flagship Neita Property in the Dominican Republic.

Unigold received notice today that the Ministry of Energy and Mines (the "Ministry") of the Dominican Republic has upheld Unigold's exclusive right to reapply for the Neita exploration concession pursuant to the provisions of the Mining Law and the rules of application of the Mining Law. Consequently no other applications for the concession will be considered. The Company expects to receive a final decision upon the completion of the evaluation of its application. While the Ministry has not given any indicative timing for the completion of the process, the Company is optimistic that it may receive the final decision within the next couple of months.

Unigold is encouraged by the speed, professionalism and openness that Ministry representatives demonstrated throughout the past few weeks. The Company continues to believe that the Dominican Republic is a premier destination for mineral exploration in terms of government transparency, mineral wealth, stable government, open economic borders, trained workforce and installed infrastructure.

Unigold continues to advise investors to use caution in the trading of the Company's securities until such time as notice is received from the Ministry regarding the final status of the application for Neita.

Forward-looking Statements

Certain statements contained in this document, including statements regarding events and financial trends that may affect our future operating results, financial position and cash flows, may constitute forward-looking statements within the meaning of the federal securities laws. These statements are based on our assumptions and estimates and are subject to risk and uncertainties. You can identify these forward-looking statements by the use of words like "strategy", "expects", "plans", "believes", "will", "estimates", "intends", "projects", "goals", "targets", and other words of similar meaning. You can also identify them by the fact that they do not relate strictly to historical or current facts. We wish to caution you that such statements contained are just predictions or opinions and that actual events or results may differ materially. The forward-looking statements contained in this document are made as of the date hereof and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ materially from those projected in the forward-looking statements. Where applicable, we claim the protection of the safe harbour for forward-looking statements provided by the (United States) Private Securities Litigation Reform Act of 1995.

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

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