Unigold Inc. provided an update on activities at its 100% owned Neita concession in the Dominican Republic. 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 to extract metallic minerals from a 9,990 hectare concession area for a 75-year period. This application has successfully +7Dominican Republic on 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 Third Quarter of 2022.