Unigold Inc. announces new results from drilling Los Candelones gold deposit



    /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
    DISSEMINATION IN THE UNITED STATES/

    TORONTO, Oct. 3 /CNW/ - Unigold Inc. ("Unigold" or the "Company") (TSX-V:
UGD) is pleased to announce that it has received new results from drilling its
100-per-cent-owned Los Candelones gold deposit in the Dominican Republic.
Drill holes number DC-78, DC-80 and DC-82 represent a good example of the
western extension of the core zone over 1 g/t demonstrating the on strike and
down dip continuation of the gold mineralization.

    
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    Drill Hole           From           To           Length           Grade
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      DC-68               46m           53m            7m           1.02 g/t
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      DC-71                6m           16m           10m            .55 g/t
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      DC-72               31m           47m           16m            .51 g/t
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      DC-78               16m           33m           17m           1.04 g/t
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      DC-80               14m           36m           22m            .51 g/t
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      DC-80               44m           63m           19m           1.80 g/t
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      DC-81                5m           46m           41m            .51 g/t
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      DC-82                1m           19m           19m            1.3 g/t
    -------------------------------------------------------------------------

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      DC-88                1m           27m           27m            .50 g/t
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    

    Assays were done at the SGS laboratory in Toronto by fire assay procedure
and gravimetric finish and the reported length represents true width section.
    A recent field study of the Los Candelones system, conducted in December
2006, showed classic epithermal zoning starting with vuggy quartz veins system
(N270/60) with high grade gold, the system is evolving into a main gold
disseminated zone followed by gold-barite veining zone then into a barite
breccia zone and closing the system with a barite cap zone. Field evidence of
an offsetting senestral fault displacing the actual gold resource were found
in trench TC-42.
    To date, the Los Candelones Gold Deposit has 88 diamond drill holes
totalling approximately 9,200 metres. The new results have allowed Unigold to
demonstrate the on strike and down dip continuation of the 25 to 30 metre
thick gold core of epithermal mineralization which grades from 1.0 to 4.4 g/t
gold and is enclosed within an up to 100 metre wide lower grade gold halo. The
existing trenched and diamond drilled mineralized area is a small part of the
1,200 metre long by 600 metre wide gold in soil anomaly and coincident IP
chargeability high which represents sulphide mineralization. The Los
Candelones Gold Deposit is the most advanced of several very encouraging
target areas within the 226 square kilometre Neita property.
    The foregoing scientific and technical information has been prepared or
reviewed by Daniel Danis, M.Sc., the Vice-president and Chief Operating
Officer of Unigold. Mr. Danis is a "qualified person" within the meaning of
National Instrument 43-101.

    About Unigold Inc.
    ------------------

    Unigold Inc. is exploring to find and develop gold deposits on its
100-per-cent-owned 226 km(2) Neita property located in the Dominican Republic.
Having the largest land package in the Dominican Republic, the goal is to
target bulk tonnage, open pittable, oxide gold deposits within a similar
setting to the world class Pueblo Viejo gold project which occurs within a
broad northwest trending Cretaceous age volcanic greenstone belt that
transects the Dominican Republic. The economics of any discovery will be
significantly improved by the fact that Unigold is benefiting from an 18-year
holiday on all corporate taxes, sales taxes and import duties in the Dominican
Republic.

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this press release.

    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 the federal securities laws. These statements
are based on our assumptions and estimates and are subject to risk and
uncertainties. You can identify these forward-looking statements by the use of
words like "strategy", "expects", "plans", "believes", "will", "estimates",
"intends", "projects", "goals", "targets", and other words of similar meaning.
You can also identify 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 by the (United States) Private Securities
Litigation Reform Act of 1995.

    %SEDAR: 00004036E




For further information:

For further information: Dr. Ibrahim M. Eitani, President & CEO and
Director, (+966-55-88-22-080), Email: taadeen@gmail.com; Daniel Danis, Chief
Operating Officer & Director, (450) 667-4766, Web site www.unigoldinc.com,
Email: unigold@unigoldinc.com

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