Unigold Inc.
TSX VENTURE : UGD

Unigold Inc.

May 07, 2008 08:36 ET

Resignation of Dr. Ibrahim Eitani and Appointment of Mr. Daniel Danis as President and Chief Executive Officer of Unigold Inc.

TORONTO, ONTARIO--(Marketwire - May 7, 2008) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Unigold Inc. ("Unigold" or the "Company") (TSX VENTURE:UGD) wishes to announce that, due to increasing commitments abroad, Dr. Ibrahim Eitani has tendered his resignation as President and Chief Executive Officer of the Company. The resignation is effective as of June 1, 2008. The Company would like to thank Dr. Eitani for his assistance while serving as President and Chief Executive Officer and wishes him well in his future endeavours. Dr. Eitani will continue as a director of the Company and will be assisting in developing the Company's business in the Middle East Area along with promotional campaigns and seeking potential business opportunities which will add value to the Company.

The Company is pleased to announce the appointment of Mr. Daniel Danis as President and Chief Executive Officer to be effective as of June 1, 2008. Mr. Danis was the Company's Vice President, Exploration and Chief Operating Officer. He co-founded Unigold in 1997 and was instrumental in the acquisition of the Neita Property in the Dominican Republic. Mr. Danis has a B.SC. in Earth Sciences with speciality in geology from University of Quebec in Montreal in 1981 and M.Sc. in Earth Science with specialty in Geochemistry from the same university in 1985.

About Unigold Inc.

Unigold Inc. is exploring to find and develop gold deposits on its 100-per-cent-owned 226 km2 Neita property located in the Dominican Republic. Having the largest land package in the Dominican Republic, the goal is to target bulk tonnage, open pittable, oxide gold deposits within a very similar geological setting to the world class Pueblo Viejo gold project located 150 kilometre to the south-east. The economics of any discovery will be significantly improved by the fact that Unigold is benefiting from an 18-year holiday on all corporate taxes, sales taxes and import duties in the Dominican Republic.

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.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.

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