SOURCE: Unico, Inc.

July 17, 2007 09:17 ET

Unico, Inc. Announces Extension to Complete Purchase of the Deer Trail Mine

Final Closing Date Now Expected on or Before July 31, 2007

SAN DIEGO, CA--(Marketwire - July 17, 2007) - Unico, Incorporated (OTCBB: UCOI), a natural resource company in the precious metals mining sector, today announced that the final date to complete the process of transferring ownership of the Deer Trail Mine in Marysvale, Utah from Crown Mines, LLC to the Deer Trail Mining Company has been extended to July 31, 2007. The new extension agreement was executed on July 16, 2007 and was primarily made to provide sufficient time to complete the title report, assure proper transfer of title and complete the sale.

An independent third party has been retained to produce the title report and conduct all necessary due diligence to ensure that the Deer Trail Mine is properly conveyed to the Deer Trail Mining Company.

Unico has secured the entire remaining balance of $1.7 million to exercise the lease buy-out option on the remaining balance. Previous payments totaling $2.3 million, which will be applied toward the purchase price upon closing, have been made to Crown Mines.

"The proper conveyance of title is a critical element of our purchase of the Deer Trail Mine from Crown Mines, LLC, and this mutual agreement allows the additional time necessary to complete this work and close the sale properly," said Mark A. Lopez, chief executive officer of Unico, Inc. "We view the Deer Trail Mine as an important long term asset for the company and a major focal point of our ongoing operations. We look forward to completing the process of transferring ownership in the timeframe allowed by this extension."

The mining lease and option to purchase between Unico, Inc. and Crown Mines, LLC, dated December 12, 2001, was adjusted through a first modification of mining lease and option to purchase, dated May 31, 2004, a second modification of mining lease and option to purchase, dated April 21, 2006, a third modification of mining lease and option to purchase, dated November 1, 2006, and a fourth modified lease and option to purchase agreement in April 2007, which provided for a due date of May 31, 2007 for Unico, Inc. to exercise its purchase option.

Under the agreement, Deer Trail Mining Company, LLC has the right to acquire the mining claims located in Marysvale, Utah, which consist of 32 patented mining claims and 171 unpatented mining claims, as well as mill sites, dumps and other transferable rights contained in the agreement.

The claims covered in the purchase agreement total approximately 3,275 acres, or 5.12 square miles, and include workings known as the Deer Trail Mine, the PTH Tunnel and the Carisa and Lucky Boy Mines. The PTH Tunnel penetrates more than 10,000 feet, with a developed network of tunnels, shafts, stopes, and raises at the 3,400-foot-area and at the 8,000-foot-area, and was mined by prior owners for gold and silver. The initial Deer Trail claims date back to 1870.

Unico, Inc. has also filed its Quarterly Report on Form 10-QSB for the period ended May 31, 2007. A link to the complete filing can be found on the company's website at

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About Unico, Inc.

Unico, Inc. (OTCBB: UCOI) 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 three mine properties: the Deer Trail Mine, the Bromide Basin Mine and the Silver Bell Mine. The company has also announced agreements to acquire over 70 additional mining claims. For more information, please visit

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.

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