/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
TORONTO, March 26 /CNW/ - Unigold Inc. ("Unigold" or the "Company")
(TSX-V: UGD) is pleased to give an update on the corporate affairs and the
operations plan for 2007. Unigold will spend $3.5 million on its 2007
exploration program. Throughout the year, Unigold will continue to carry out
surface exploration of the properties, collect soil & stream samples, along
with trenching and intensified diamond drilling. In addition, Unigold will
initiate an airborne geophysical survey starting at the end of March 2007 with
FUGRO Airborne Surveys Corp. The survey is to be conducted on the Neita and
Sabaneta properties and will be flown at 200-metre flight gridlines. The
survey will encompass approximately 2,600 line kilometres and will entail
magnetic, electromagnetic and radiometric readings. Unigold has mandated SGS
Minerals Services (Lakefield) for an investigation into cyanidation of the Los
Candelones ore and to establish the parameters for a possible heap leaching of
the oxidized ore of Los Candelones. Thus far, a variety of 10,000 samples are
in the process of analysis with SGS.
Based on the realised results obtained to-date, Los Candelones could be
characterized as a fully developed epithermal system with a barium/antimony
upper zone and a vuggy quartz lower zone corresponding to the high grade zone
found in trenching, reporting 45 g/t of gold over 11 meters with the vuggy
quartz vein grading 105 g/t over 1 meter. Since the actual drilling campaign
is targeting the lower vuggy quartz zone, the next coming months should be
very exciting and should provide a constant flow of new information.
Unigold completed a successful field visit from March 21 to March 23,
2007 of its Neita Property. Unigold management and geologists hosted a group
of 13 industry professionals on a technical property tour of its large
concessions in the Dominican Republic.
Unigold's chairman Dr. Talal A. Alshair, senior management and field
geologists participated in the property tour. The geological team is working
on exploration, drill targeting, further developing the Neita Property and
more specifically, the expansion of its Los Candelones Gold Deposit.
At the end of the property tour day, Unigold held a dinner reception
where Dr. Alshair, main principal of Shairco, the Company's major shareholder,
stated ,"I was pleased to evidence the aggressive exploration program
conducted on the property and the realised results to date. I am committed to
the growth and development of Unigold to broaden its horizons through
international business opportunities".
Representation from the Dominican Republic Government attended the dinner
reception where Unigold welcomed Mr. Octavio Lopez, the Director of Mines for
the Dominican Republic and Dr. Onofre Rojas, Minister of the State, European
Fund of Development for the Dominican Republic. Mr. Octavio emphasized the
excellent work being conducted by Unigold not only in the field exploration
but at the social and community levels. He further stated, "The Directorate of
Mines will fully support Unigold in all aspects of its activity in the
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 a 20-year
holiday on all corporate taxes, sales taxes and import duties in the Dominican
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.
For further information:
For further information: Daniel Danis, Chief Operating Officer &
Director, (450) 667-4766, Web site, www.unigoldinc.com, Email: