Toronto, Ontario, September 5, 2008 -- Unigold Inc. ("Unigold" or the "Company") (TSX-V: UGD) is pleased to announce the discovery of a new gold zone on its wholly-owned Neita Property in western Dominican Republic.
The new discovery, "Lomita Pina", is located 2 kilometres east of Unigold's Los Candelones deposit. Two outcrops located 500 metres apart returned gold values of up to 11.3 grams per tonne ("g/t") gold in chip samples, and boulders between the outcrops assayed up to 4.8 g/t gold.
Trenching on the eastern outcrop (TR-LP-08-02) assayed 4.9 g/t gold over 12 metres within a larger zone of 2.2 g/t gold over 34 metres. Trench TR-LP-08-03, located 50 metres north of TRLP-08-02, assayed 1.9 g/t gold over 7 metres. Further trench results are pending.
Gold occurs in lenses and veins of dense silica-barite rock which replaces the host dacite. The Company believes this mineralization represents the low-temperature, upper-reaches of an epithermal system similar to the one responsible for the gold mineralization at the nearby Los Candelones deposit.
Unigold is very encouraged by the initial results at Lomita Pina. Further trenching is proceeding and an exploratory drilling campaign is planned for September, 2008.
The Company also announces the appointment of Mr. Rene Branchaud as a director of the Company subject to regulatory approval. Mr. Branchaud is a partner with the law firm Lavery, de Billy in Montreal, and practises in the areas of securities law, mergers and acquisitions and corporate law. Mr. Branchaud serves on the board of directors and is corporate secretary of several public companies.
The Company also announces that it has granted stock options to directors, officers, employees and consultants of the Company to purchase an aggregate of 3,122,000 common shares of the Company at an exercise price of $0.25 per common share for a period of five years from the date of grant, pursuant to the Company's stock option plan.
The foregoing scientific and technical information has been prepared or reviewed by Daniel Danis, M.Sc., the President and CEO 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 km2 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 very similar geological setting to the world class Pueblo Viejo gold project located 150 kilometre to the south-east. 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.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Mr. Daniel Danis, President and C.E.O (+1-450-667-4766)
Web site www.unigoldinc.com
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