SOURCE: Unico, Inc.

Unico, Inc.

September 24, 2009 08:42 ET

Unico, Inc. Announces the Release of the September 2009 Shareholder Newsletter Which Highlights Resource Calculation Agreement and $4.7 Million Deficit Reduction

SAN DIEGO, CA--(Marketwire - September 24, 2009) - Unico, Incorporated (OTCBB: UNCO), a natural resource company in the precious metals mining sector, today announced the release of the company's September 2009 investor newsletter, which highlights the agreement to drill and verify the upper tailings reserves at the Deer Trail Mine in Marysvale, Utah as well as an anticipated reduction of the company's Total Stockholders' Deficit by approximately $4,700,000.

A PDF version of the September 2009 newsletter has been added to the company's website at http://www.unicomining.com./news/newsletters.php, and an email notification of the newsletter's release will be sent to subscribers to Unico's electronic mailing list.

The newsletter reviews Unico's announcement regarding an agreement with Industrial Minerals Development, Inc. ("IMD") and Professional Geologist Frederic C. Johnson to drill and verify the upper tailings reserves at the Deer Trail Mine in Marysvale, Utah and potentially to conduct reserve verifications on other mine dumps and stockpiles located on the properties owned by the Unico's wholly owned Deer Trail Mining Company subsidiary. The primary focus for the reserve calculations are gold, silver and the potential for tellurium.

The IMD agreement follows the recommendations included in a tailings report submitted by Behre Dolbear and Company (USA), which had conducted geological analysis and evaluation at the Deer Trail Mine. Included in the recommendations was to initiate additional drilling, sampling and analysis of the Upper Tailings Dump as part of the larger plan for exploration, identification of potential reserves, mining, and processing, at the Deer Trail Mine property.

The newsletter also highlights the recent disclosure that Unico expects to file Amendments to the Annual Report on Form 10-K for the fiscal year ended February 28, 2009 and Quarterly Report for the three months ended May 31, 2009. In the Amendments, Unico anticipates that the Derivative Liability line item will be removed from each balance sheet, and other related adjusting entries will be made. As a result of these adjustments, Unico anticipates that its Total Stockholders' Deficit as of May 31, 2009 will be reduced by approximately $4,700,000.

Also included in the newsletter is information on a visit made by Charles Madsen, executive vice president for operations for Unico, Inc. and general manager of the company's wholly owned Deer Trail Mining Company subsidiary, to the Phoenix, Arizona processing facility of Royal Mines And Minerals Corporation where concentrate from the Deer Trail Mine in Marysvale, Utah is being processed to recover gold and silver. During his visit, Mr. Madsen observed ongoing improvements to the process to extract gold and silver from concentrates produced at the Deer Trail Mine. The goal of the improvements is to accommodate a higher volume of ore coming from the Deer Trail Mine and to maintain the consistency of the flow in the process.

Mr. Madsen was recently appointed to his position with Unico, Inc., as outlined in a newsletter article reviewing several recent management promotions. In addition to Mr. Madsen's appointment as executive vice president for operations for Unico, Inc., the company's Chief Executive Officer Mark A. Lopez was named president/CEO, replacing Wayne Ash as president. Mr. Ash has been appointed to the position of director of engineering for Unico, Inc.

"There are several new and significant events highlighted in this edition of our newsletter, and we are pleased to have the opportunity to review them for our shareholders," said Mr. Lopez "We continue to move the company's operations forward at the Deer Trail Mine, and we expect continued progress in the coming weeks and months."

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
    951-200-4107
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