Unigold Candelones project remains on-track for Q3 delivery of feasibility, ESIA and Exploitation Licence
Unigold Inc. Press Release: PR2022-03 April 27, 2022 1
UNIGOLD INC.
Ste 2704, 401 Bay Street,
P.O. Box 4, Toronto, ON M5H 2Y4
T. (416) 866-8157
www.unigoldinc.com
PR No. 2022-03
Unigold Candelones project remains on-track for Q3 delivery of feasibility, ESIA and
Exploitation Licence
• The Exploitation Concession Application review by the Directorate of Mines in the
Dominican Republic has been completed and the application has moved to the
next stage with no comments received to date
• Final assays f rom oxide delineation drilling have been received and are being
incorporated into a new Mineral Resource Estimate and mine plan
• Geotechnical work to support the Heap Leach Facility design is ongoing
• Field work to support the Environmental and Social Impact Assessment is ongoing
Toronto, Ontario, April 27, 2022 – Unigold Inc. (“Unigold” or the “Company”) (TSX -V:UGD;
OTCQX: UGDIF; FSE:UGB1) is pleased to provide an update on activities at its 100% owned
Neita concession in the Dominican Republic.
Joseph Hamilton, CEO, commented, “Our strategy for the delivery of a smal l footprint, low -
capital oxide project at Candelones is intended to introduce mining to the local communities while
allowing us to build capacity and infrastructure that can be used to develop the larger sulphide
resource in the future. Our community and government support for this project have been
encouraging. We file d an application to convert part of the Neita area into an Exploitation
Concession at the end of February. The review of the application has been completed by the
Mining Directorate with no material comments or changes. The Directorate has now moved the
application to the next stage of the process with the publication of the application in the national
newspaper. We remain confident that we can meet our Q3 guidance for the d elivery of a n
Exploitation Licence over the southern part of the Neita concession. Environmental, geotechnical
and community programs remain on-going and, in conjunction with our completed oxide drilling
program, will contribute to our stated objective of delivering a final feasibility study and
environmental impact assessment in the third quarter of this year.”
The first step in achieving commercial production at the Candelones oxide deposits is to
receive an Exploitation Licence over a portion of the Neita Concession. The application and
supporting documentation were filed with the appropriate government organizations on
February 25, 2022. The granting of an Exploitation Licence would give Unigold the sole right
Unigold Inc. Press Release: PR2022-03 April 27, 2022 2
to extract metallic minerals from a 9,990 hectare concession area for a 75-year period. This
application has successfully passed through the review process at the Dirección General de
Mineria. The first of two public notices was published in the national media in the Dominican
Republic on Monday April 25, 2022. The Company expects to continue to work closely with
government authorities to expedite the issuance of the Exploitation Licence.
The Feasibility Study for the Candelones Oxide project is on-going with Micon International
retained to update the Mineral Resource Estimate and provide a new production schedule
for the oxide portion of the deposit . Tierra Group International, Ltd. is supervising the
geotechnical work to assess the plant and pad placements and provide a capital cost
estimate for those areas . Following completion of geotechnical and surveying work, the
upgrading of inferred material , and utilizing the results of recent column testing, the
Company will engage appropriate consultants to finalize a feasibility study with sufficient
detail to support project financing discussions. The Company expects this report to be
released in Q3 of 2022.
The Company will hold an update videoconference session on Friday April 29 at 11 am EDT.
Please visit www.unigoldinc.com for more details regarding this conference.
For further information please visit http://www.unigoldinc.com or contact:
Mr. Joseph Hamilton
Chairman & CEO
T. (416) 866-8157
About Unigold Inc. – Discovering Gold in the Caribbean
Unigold is a Canadian based mineral exploration company traded on the TSX Venture Exchange under
the symbol UGD, the OTCQX exchange under the symbol UGDIF, and on the Frankfurt Stock Exchange
under the symbol UGB1. The Company is focused primarily on expl oring and developing its gold
assets in the Dominican Republic. The Candelones oxide gold deposit is within the 100% owned Neita
Fase II exploration concession located in Dajabón province, in the northwest part of the Dominican
Republic. The Candelones project area is about 20 kilometers south of the town of Restauraćion. The
oxide deposit occurs at surface as a result of the tropical weathering of underlying mineralization.
Unigold has been active in the Dominican Republic since 2002 and remains the mos t active
exploration Company in the country. The Neita Fase II exploration concession is the largest single
exploration concession covering volcanic rocks of the Cretaceous Tireo Formation. This island arc
terrain is host to Volcanogenic Massive Sulphide deposits, Intermediate and High Sulphidation
Epithermal Systems and Copper -gold porphyry systems. Unigold has identified over 20 areas within
the concession area that host surface expressions of gold systems. Unigold has been concentrating
on the Candel ones mineralization and continues to expand the deeper sulphide resources with on -
going drilling.
Unigold Inc. Press Release: PR2022-03 April 27, 2022 3
Forward-looking Statements
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
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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
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