SOURCE: Unico, Inc.

November 14, 2006 09:12 ET

Unico, Inc. Announces One-Year Extension of Lease and Option to Purchase for Bromide Basin Mine

SAN DIEGO, CA -- (MARKET WIRE) -- November 14, 2006 -- Unico, Incorporated (OTCBB: UCOI), a natural resource company in the precious metals mining sector, today announced that the company's wholly owned subsidiary, Bromide Basin Mining Company, LLC, has extended its revised mining lease and option to purchase agreement with Kaibab Industries, Inc. for the Bromide Basin Mine lease, located in the Henry Mountain Mining District in Garfield County, Utah.

The new revised mining lease runs for a period of one year and runs through October 31, 2007 and grants to Bromide Basin Mining Company the option to purchase six fully permitted patented mining claims and twenty-one located mining claims comprising in all over 400 acres of Bromide Basin. The purchase option exercise price is $835,000.00 for all specified mining claims, mill sites and dumps being leased. As consideration for the revised lease agreement, the company has also agreed to pay in advance the sum of $5,000 per month and pay Kaibab Industries a five percent net smelter return upon all ore taken from the leased premises each month, to the extent that the amount for any month exceeds the $5,000 monthly base rent.

The Bromide Basin property is planned as a source for feed material for the re-constructed mill and processing facility at Unico's Deer Trail Mine property. The Bromide Basin lease includes six fully permitted patented mining claims and twenty-one located mining claims comprising in all over 400 acres.

Under the terms of the lease agreement, the Bromide Basin Mining Company, LLC has access to the claims to conduct pre-production feasibility study work and underground mining of the present working improvements at the Bromide, Crescent Creek and Kimball & Turner Claims.

"We are very pleased to extend our lease and purchase agreement for the Bromide Basin Mine," stated Mark A. Lopez, chief executive officer of Unico, Inc. "The extension is advantageous for the Bromide Basin Mining Company, especially considering the increase in the price of gold since the original lease agreement was signed in 2001. The Bromide Basin is considered a true 'gold play,' and there could be considerable long-term benefits to the company if we bring this property into production.

"We will explore every opportunity to initiate activity at the Bromide Basin property, including the possibility of contracting with outside consulting firms for feasibility, geological work and future potential mining programs," added Mr. Lopez.

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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 recently announced agreements to acquire over 70 additional mining claims. For more information, please visit

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