SOURCE: Unico, Inc.

June 10, 2008 09:32 ET

Unico, Inc. Files Annual Financial Report

SAN DIEGO, CA--(Marketwire - June 10, 2008) - Unico, Incorporated (OTCBB: UCOI), a natural resource company in the precious metals mining sector, has filed its Annual Report on Form 10-KSB for the fiscal year ended February 29, 2008 with the Securities and Exchange Commission.

A link to the company's SEC filings can be found in the Investor Relations section of the Unico website at

"We are pleased to have filed our annual report for the 2008 fiscal year and maintain compliance with the reporting requirement for the Over-the-Counter Bulletin Board," stated Mark A. Lopez, chief executive officer of Unico, Inc. "The 10-KSB filing includes some very important disclosure regarding the company and will help shareholders understand the Unico's plan for the current fiscal year."

Included in the annual report is an update on the status of the final summary report from Behre Dolbear & Company (USA), Inc. on core samples taken from the underground diamond core drilling program conducted at the Deer Trail Mine in Marysvale, Utah. On May 14, 2008, Behre Dolbear sent Unico and its wholly owned Deer Trail Mining Company subsidiary a proposed final report and appendices. Upon approval by Unico and Deer Trail Mining Company, submission of the report and appendices will complete Behre Dolbear's work relating to the core logging. The report entitled "Evaluation of the Deer Trail Tailings at the Deer Trail Mine, Piute County, Utah" has been removed from the revised report and a conclusions and recommendations section will be added in the executive summary, which will be revised accordingly by Behre Dolbear. Executives and management of Unico and Deer Trail Mining Company are currently reviewing the report and expect to announce details of the report once it is completed.

The annual report also contains the disclosure that the company has chosen not to renew its mining lease and purchase option with Kaibab Industries, Inc. on the Bromide Basin Mine located in the Henry Mountain Mining District located in Garfield County, Utah. Unico first entered into a Mining Lease and Option to Purchase with Kaibab Industries, an Arizona corporation, in July 2001 and entered into several subsequent revised mining lease and option to purchase agreements from 2003-2006, the last of which expired on October 31, 2007.

The primary purpose for the extension of time through the revised agreements was to allow Bromide Basin Mining Company access to the claims to conduct an extensive preproduction feasibility study prior to any additional mining production and to analyze the potential of the claims before exercising the purchase option. The company has concluded its evaluation of the property, which included preliminary geological analysis by the company's chief geologist, and has determined that the leased premises outlined under the Kaibab Mining Lease are not feasible for large scale mining activities by Bromide Basin Mining Company. Unico's current focus on the Deer Trail Mine, the lease of additional properties in close proximity to the Deer Trail site, the logistics requirements of beginning operations at a site significant distance from the Deer Trail Mine, and the cost required for development and rehabilitation of the Bromide Basin Mine before potential mining operations could begin were among the company's reasons for not renewing the lease and purchase option.

"Management took a variety of factors into consideration when deciding whether or not to extend the lease and purchase option from the Bromide Basin Mine. These included the anticipated costs of additional evaluation, exploration and operations at the property. We ultimately decided that the company's primary focus should be to support the activities at the Deer Trail Mine and surrounding properties, where the infrastructure is much more favorable and where the company's mill and processing facility is located," commented Mr. Lopez.

A 12-month plan of operation, which includes plans for the company's subsidiary mining properties and the potential acquisition of additional interests, is also included in the annual report. The plan includes continued sampling and analyzing mineralized rock samples, stockpiles and dump material from the Deer Trail Mine to evaluate the most efficient means to conduct future mining and milling activities; the expansion of the metallurgical research department at the Deer Trail Mine and mill facility; the purchase of additional lab equipment for metallurgical purposes; to upgrade mine infrastructure and begin underground mining activities including maintenance and rehabilitation work at the Deer Trail Mine; continued upgrades and completion of reconstruction on all facets of the existing mill at the Deer Trail Mine; the upgrade of the crushing facility at the upper Deer Trail Mine and continuation of screening of the ore dumps; the beginning of milling and processing activities at the Deer Trail mill and processing facility; the acquisition of new mining equipment to improve operations at the Deer Trail Mine; conducting additional survey and mapping work on the Clyde and Crown Point mining claims including improvements to the property and potentially underground and surface exploratory drilling on the claims; and the commencement of a feasibility study on the potential of the mining claims at the Silver Bell Mine beginning in the summer of 2008.

"The 12-month plan outlines many of the activities that shareholders should expect to see during the next fiscal year. In addition to these, Unico will be looking to identify and potentially acquire new strategic opportunities that tie into its overall strategic plans. These opportunities will fit a specific set of criteria, including existing cash flow and synergies with Unico's current subsidiary operations," Mr. Lopez added.

Unico recently announced the completion of reconstruction and testing of the floatation circuit at the mill and processing facility at the Deer Trail Mine. The company expects to provide additional updates on the progress of testing at the facility in the near term.

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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 two mine properties: the Deer Trail Mine and the Silver Bell Mine. The company has also announced agreements to acquire over 70 additional mining claims including the Clyde and Crown Point mining claims. In August 2007, Unico announced that its wholly owned Deer Trail Mining Company subsidiary had completed the purchase of the Deer Trail Mine from Crown Mines, LLC. 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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