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Unigold Inc.

TICKER: UGD:TSX.V

Unigold Inc. is a Canadian-based junior natural resource company with a large portfolio of projects in the Dominican Republic. The company has been actively involved in exploration in the country for the past decade and is a significant mineral property holder, with its wholly owned Neita property and interest or options in the Sabeneta, Los Guandules and El Carrizal properties, all prospective for gold and copper mineralization. Unigold's long-term strategy is to develop the current gold discoveries through to production. Meanwhile, exploration efforts will continue to secure a consistent pipeline of projects for the future.


The information provided below is from analysts, newsletters and other contributors. Please contact the company and visit its website before making an investment decision.

Expert Comments:

The Mining Report Interview with Maria Smirnova (12/17/13) "Unigold Inc. is an exploration story with a project in the Dominican Republic. The company has been active in the Dominican Republic for a decade now. It has just released a new resource estimate for part of its Neita concession, which came in at 2 Moz at 1.6 g/t. The market capitalization of the company is quite small at $15M, so it makes for an interesting exploration story." More >

Andrew Topf, Resource Investing News (11/13/13) "Unigold Inc.'s Candelones prospect in the Dominican Republic is showing new promise after the Toronto-based company yesterday published an initial resource estimate. . .Candelones shows 1.6 Moz open-pittable gold in the Inferred category and 0.4 Moz underground, for a total Inferred resource of 2 Moz."

Mick Carew, Haywood Securities (11/13/13) "Unigold Inc. announced an initial mineral resource estimate for its 100%-owned Candelones Main, Extension and Connector zones. . .the mineral resource estimate for the Candelones project comprises an open-pit Inferred resource of 33.8 Mt grading 1.45 g/t Au. . .and an underground Inferred resource of 5.7 Mt grading 2.39 g/t Au. . .upside potential remains at the Candelones Extension zone, where gold mineralization is open in all directions and at depth. . .further drilling is required to define the size potential of the Candelones Extension, and the results of additional metallurgical studies will provide further clarity on the impact of the copper, silver and zinc credits."

Mick Carew, Haywood Securities (10/24/13) "Unigold Inc. announced assay results from three metallurgical holes drilled on different sections within the Extension Zone of its Candelones target in the Dominican Republic. . .these drill holes demonstrate the continuity of high-grade gold-silver-copper-zinc mineralization at Candelones Extension defined by initial resource drilling. Mineralized intersections are consistent with the geological interpretation designed for the upcoming initial resource estimate expected in Q4/13. . .the company has identified numerous targets within the property, but is currently prioritizing Candelones, as it believes there is potential to define a world-class-size deposit in this area of the project."

The Gold Report Interview with Charles Oliver (9/23/13) Charles Oliver: Unigold Inc. is still a big favorite of mine. I'll actually be meeting with CEO Andrew Cheatle to get an update in the coming weeks. Once the company has an NI 43-101 for its property in the Dominican Republic, it should show a very sizeable resource. At some point, value will surface. I've been an investor for more than four years.

TGR: Why have you stuck with Unigold for four years?

CO: At the early stage, it was a very cheap company with a lot of historic drilling. But it got caught in the asset-backed commercial paper situation. It was holding a bunch of cash to use for exploration. It set it back. A new management team and board took the reins and helped to raise money to get drilling going. The company has been doing a lot of induced polarization and other geophysical work. It can take a long time to build and develop a mine. You have to be patient, but the rewards can be huge over the long term. More >

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Haywood Securities (9/11/13) "In 2013, Unigold Inc. will complete 40,000m of drilling at Candelones. . .in addition, the company is working toward making new discoveries at Neita. . .the company is well positioned to follow up on more than 25 identified, but untested, gold and copper targets."

The Gold Report Interview with Eric Coffin (7/22/13) "One tool that has been quite successful for Unigold Inc. is IP surveys. IP picks up sulphide concentrations that may indicate economic mineralization. . .I think the Candelones project is doing well. . .the company has found a lot of ounces there. Some of the ounces are a little bit on the deep side for the grades it got, but a lot of targets haven't even been drilled yet. Some of the more recent better holes in a couple of the zones look a lot more Romero-ish. You're starting to see copper in some of those holes and some higher gold grades." More >

Haywood Securities (6/18/13) "Unigold Inc. has identified numerous targets within the Neita property, but is currently prioritizing Candelones, as it believes there is potential to define a world-class size deposit at this area of the project. . .drilling to date has intersected mineralization over an extensive area 3km by 2km at Candelones and has been focused above 300m vertically in an effort to define a high-grade, near-surface deposit. . .initial metallurgical tests conducted in 2012 were encouraging, indicating gold, silver and base metal recoveries of 85% to 90% to a clean sulphide concentrate, with 30% of that from gravity circuit."

Danny Deadlock, Ticker Trax (6/10/13) "Unigold Inc.'s stock was 100% higher only two months ago and there is an iceberg sell order from $0.12 to $0.13, generating very good liquidity that may be worth taking advantage of. This is gold exploration in the Dominican Republic that just closed a $5M financing at $0.25 with International Finance Corp. (IFC). .the valuation remains very attractive at this level and the IFC involvement helps derisk the investment."

Jamie Spratt, Clarus Securities (3/28/13) "Unigold Inc. remains focused on exploring its 100% Neita project in the Dominican Republic, where management has steadily expanded the footprint of mineralization in the 3km Candelones corridor. . .we believe that Candelones' size potential and management's systematic approach to exploration make the company one of the select earlier-stage exploration names that investors should consider tucking away. . .we conclude that investors who own Unigold are likely to be rewarded as the market begins to understand the promising potential at Candelones."

Jamie Spratt, Clarus Securities (3/4/13) "Unigold Inc. reported assay results for ten drill holes from the Connector Zone at its Neita project in the Dominican Republic; the results are encouraging as multiple intercepts show wide zones of near-surface mineralization above our calculated average grade from drilling to date of 1.25 g/t. . .success on drilling IP anomalies within this corridor reinforces our view that the Candelones area has multimillion ounce potential. . .we believe that investors with a long-term time horizon are likely to be rewarded for management's systematic approach to exploration on a highly prospective land package."

The Gold Report Interview with Eric Coffin (2/25/13) "Unigold Inc. has a discovery next door to GoldQuest. I don't follow Unigold but have been watching it closely. The company has reported a number of impressive drill results. It will certainly have a resource on its project and has several other targets it has barely started on. . . GoldQuest is doing a very large IP geophysical survey. IP discovered the Romero zone on its Las Tres Palmas property and has been responsible for other finds in the trend like those of Unigold next door." More >

The Gold Report Interview with Mark Raguz (2/20/13) "We're following Unigold Inc. closely. The company's flagship asset is located in the Dominican Republic, which is emerging as a destination for mineral exploration. . .in January 2012, Unigold discovered a zone more than a kilometer away from its Candelones project, which it named the Candelones Extension. Subsequent drilling throughout 2012 traced a wide zone of potentially open-pittable gold mineralization back toward the Candelones Zone. Recently, the on-strike continuity of the mineralization positively surprised us as it appears that a fault-offset induced polarization (IP) anomaly is also mineralized as we move from the Candelones Extension back toward the Candalones Zone. This new zone returned 69m of 3.75 g/t. Follow-up drilling into this 'Anomaly B' has been encouraging and the drilling is ongoing on this target.

". . .The continuation of the gold mineralization from Anomaly A to Anomaly B potentially doubles the strike length of the mineralized zone at Candelones Extension. The company should complete its 40,000m drill program on Candelones and Candelones Extension this year, and is anticipating the completion of an NI 43-101 resource. We're quite excited. . .a lot of interesting upside is still to be tested this year and moving forward. The company remains well financed, which remains a key investing criteria. . .the upside potential is definitely in the multimillion-ounce range. If it were open-pittable that would be fantastic. It has yet to be seen, but it is holding together so far. . .this is one of the rare stories where the market is definitely following drill results." More >

Jamie Spratt, Clarus Securities (2/14/13) "Unigold Inc. reported drill results from five holes testing the second anomaly (Anomaly B) at the Candelones Extension at its Neita project in the Dominican Republic. LP 62 was the stand-out hole, intersecting 103m at 1.45 g/t Au and 0.43% Cu, including 39m at 2.43 g/t Au and 0.78% Cu and 8m at 5 g/t Au and 1.05% Cu. . .we continue to see significant resource potential at Candelones [and] good exploration potential on the company's land package."

The Gold Report Interview with Alexander Medina (1/25/13) "Unigold Inc. has a very promising exploration project too, located in the northwest of the country." More >

Morning Coffee (12/3/12) "Shares of Dominican Republic-focused junior gold explorer, Unigold Inc., climbed higher for the week after releasing positive exploration results twice last week. . .the company highlighted that four holes testing anomalies A and B on its Candelones Extension (Lomita Pina) area returned strong results. . .Unigold announced significant results of recent surface sampling, geological mapping and reinterpretation of historical drill and trench results at Neita, which indicate a new area of mineralization."

Dale Mah, Dundee Capital Markets (11/29/12) "With little fanfare, Unigold Ind. released data from a trenching program, which we believe could be very significant in terms of expanding the potential of the company's Candelones zone. . .the real significance is that the 'Candelones Connector zone' provides potential surface linkage between the historic Candelones Main zone and the East extension. . .we maintain our Buy recommendation and concur with management that this system could host a district of gold-enriched, volcanic-hosted deposits that will continue to evolve with drilling."

Jamie Spratt, Clarus Securities (11/27/12) "Unigold Inc. reported positive drill results from Candelones extension. . .the best hole from this set, LP52, was a 100m stepout to the southwest on Anomaly B that intersected 69.4m at 3.75 g/t Au and 1.6% Zn including 15.8m at 11.36 g/t Au and 5.1% Zn. . .we continue to see good exploration potential on the company's 1,100 sq-km land package."

Dale Mah, Mackie Research Capital (11/2/12) "Unigold Inc. is on our Mineral Exploration Watch List with a Buy recommendation. . .the company released the results of six more stepout holes at the Lomita Pina discovery in the Dominican Republic. The press release was headlined by hole LP48, which returned 15.5m grading 2.53 g/t Au and 1.53% Zn. . .Unigold has identified and prioritized numerous geophysical and geochemical anomalies that will hopefully shed light on the structure and geology of this substantial land package."

Jamie Spratt, Clarus Securities (11/2/12) "Unigold Inc. announced drill results from six holes on the Candelones Extension at its 100%-owned Neita project. . .we are somewhat encouraged by the company's success in defining mineralization onto the second induced-polarization anomaly, which has the potential to add 800m to the defined strike of 1,000m at Candelones Extension. We continue to see good exploration potential on Unigold's 225km2 land package."

Jamie Spratt, Clarus Securities (10/16/12) "Unigold Inc. announced positive results of metallurgical test work from its 100%-owned Neita project in the Dominican Republic: as expected, initial results confirm that ore is refractory at the Candelones Extension and showed gold, silver and base metal recoveries of 85–90% reporting to a sulphide concentrate using a conventional flotation circuit. While early, we are encouraged by today's results, which suggest that gold can likely be recovered economically from ore at Candelones Extension and further processed or shipped to a smelter."

Dale Mah, Dundee Capital Markets (10/5/12) "Unigold Inc. released the results of five step-out holes, one infill hole and two insignificant holes, at Lomita Pina in the Dominican Republic. . .new holes increase average thickness but decrease average grade, with grade-thickness increasing overall. . .smart exploration and careful use of resources has, thus far, provided many investors with healthy returns (over 200% year-to-date). With an experienced and well-balanced management team, we maintain our Buy recommendation. "

Jamie Spratt, Clarus Securities (10/5/12) "Unigold Inc. announced drill results from seven holes on the Candelones extension at its 100%-owned Neita project. . .the best drill hole LP43 was a 100m stepout to the west that was drilled on the edge of the largely untested western induced-polarization anomaly. The hole intersected 75.4m at 1.08 g/t Au including 19.7m at 3.19 g/t Au. . .LP43 is significant as it suggests the potential continuity of a large zone of mineralization extending south and west for about 800m from discovery hole LP20."

Jamie Spratt, Clarus Securities (9/14/12) "Unigold Inc. announced drill results from five holes on the Candelones Extension at its 100%-owned Neita project in the Dominican Republic . . .drilling continues to add strike and lateral extent to mineralization at Candelones . . .we estimate that the Candelones Extension contains 1.5–2 Moz as currently drilled. With the company's recent success on the Tiero belt, we see further discoveries on the property as a likely outcome."

Morning Coffee (9/14/12) "Unigold Inc. announced new assay results from five drill holes at the ongoing drilling program at the company's Candelones project. . .management highlighted that four of the five holes intersected significant alteration and mineralization. Leading the way, hole LP36 intersected 30m of 2.06 g/t gold, 0.15% copper and 0.79% zinc, and hole LP33 reported 165.7m of 0.71 g/t gold, including 27.65m of 1.38 g/t gold."

Dale Mah, Dundee Capital Markets (9/14/12) "Unigold Inc. announced the closing of a private placement, and later in the day released results of five more holes at Lomita Pina. . .the results were headlined by hole LP-36, which returned 30m grading 2.06 g/t gold. . .with a well-designed, systematic drill program underway, we continue to believe that it is only a matter of time before the company delivers more robust results. . .with continued recognizable potential at Lomita Pina and a healthy balance sheet, we maintain our Buy recommendation."

Morning Coffee (8/13/12) "Shares of Unigold Inc. have been among the hottest and most talked about in the junior mining space this summer. . .the company's new high-grade gold discovery in the Dominican Republic has caught the attention of investors, both retail and institutional. . .step-out drilling continues at Unigold's new discovery, with a consistent flow of assay results expected in the near term."

Dale Mah, Dundee Capital Markets (8/10/12) "Unigold Inc. is on our Mineral Exploration Watch List. We have a Buy recommendation, Venture-Risk rating on the stock. . .our findings support our view that the Dominican Republic could be an altogether new mining district. We continue to be very impressed with the quality of Neita and we believe that management picks its targets carefully—and they have quite a few to choose from. . .positive news flow seems to have become status quo at Unigold and we don't expect this to change in the short term."

Morning Coffee (8/10/12) "Unigold Inc. announced further positive results from the company's ongoing drilling program at the Candelones project. . .hole LP29 intersected 89m of 1.72 g/t gold, which included 48.7m of 2.48 g/t gold. . .management highlighted that the results from LP29 indicate that the mineralized zone remains strong and open down-dip to the southeast."

The Gold Report Interview with Marshall Auerback (8/8/12) "Unigold Inc. has multimillion-ounce potential at its Neita project in the Dominican Republic, a jurisdiction that may not be as politically stable as Wawa, Ontario, but there have never been any signs of problems. It is in a very attractive mineral belt that hosts the 25.3 Moz Pueblo Viejo deposit, a joint venture between Barrick Gold Corp. and Goldcorp Inc. Recent drill results at 77 meters showed 3.81 g/t gold. It is increasingly rare to find a combination of those grades and widths. This could be another world-class deposit. It has a very large drill program planned and plenty of cash. Unigold can continue to drill and maintain its stepout program. I think its near-term catalysts will lead to a significant value rerating." More >

Morning Coffee (8/7/12) "Shares of Unigold Inc. were among the most heavily traded on the TSX Venture Friday, as investors continue to jump into the excitement building in the Dominican Republic. . .a couple weeks ago the company got investors excited with headline results of 77m of 3.81 g/t Au in hole LP28 from its Candelones project. . .the results received from the two completed holes are located on a 100m step-out drill program extending significant gold mineralization and are interpreted to be the continuation of a mineralizing system, extending over 3 km."

Morning Coffee (7/19/12) "Unigold Inc. got investors excited with headline results of 77m of 3.81 g/t Au from its Candelones project in the Dominican Republic. The latest results are from two of six holes recently completed at the Candelones Extension (Lomita Pina) volcanogenic massive sulfide/epithermal gold-silver-copper-zinc discovery: Hole LP28 intersected 77m at 3.81 g/t gold, (including 15m at 16.36 g/t, which itself includes 6m at 32.69 g/t), and deeper in the hole 11.2m at 4.36 g/t. LP27 intersected 26m at 1.52 g/t gold, (including 12.4m at 2.41 g/t), and deeper in the hole 2m at 10.26 g/t."

Dale Mah, Dundee Capital Markets (7/19/12) "Unigold Inc. is on our mineral exploration watch list; we have a Buy recommendation, Venture Risk rating on the stock. . .the company released positive drill results from two holes at their wholly owned Candelones project in the Dominican Republic. The headline intervals include 77m grading 3.81 g/t Au (including 6m at 32.69 g/t Au) and 26m grading 1.52 g/t Au (including 12.4m at 2.41 g/t Au). . .LP28 confirms the addition of 100m of strike length to the already existing deposit."

Jamie Spratt, Clarus Securities (7/19/12) "Unigold Inc. announced positive drill results from two holes on the Candelones Extension at its 100%-owned Neita project in the Dominican Republic. The highlight hole was LP28, intersecting 77m at 3.81 g/t gold including 15m at 16.36 g/t, representing the highest-grade thickness (294 gram meters) encountered to date. . .we continue to see significant resource potential at Neita."

Dale Mah, Dundee Capital Markets (6/21/12) "We have good reason to believe that Unigold Inc. continues to head in the right direction with its property and maintain our Buy rating on this stock. . .Neita's local geology provides a convenient canvas for mineralization that seems to be nicely associated with geophysical anomalies. . .the company's management team continues to impress us with its mix of experience and expertise."

Jamie Spratt, Clarus Securities (6/7/12) "Unigold Inc. reported drill results from three holes on the Candelones extension at its 100%-owned Neita project in the Dominican Republic. Drilling continues to indicate the robustness of the system while extending mineralization 100m to the east with step-out hole LP26 intersecting 41m at 1.44 g/t Au. . .the Candelones extension zone remains open in all directions and at depth. . .we expect news flow to heat up with the rig count increasing from two to four by early Q3/12 in a scaled up 40,000m exploration program."

Dale Mah, Dundee Capital Markets (6/7/12) "On June 6, Unigold Inc. released results of three holes from the Candelones project located in the Dominican Republic. . .the latest results show continuity of gold mineralization along with additional assays of silver and zinc from previously reported holes. With a 40,000m drill program planned that will lead to a maiden resource estimate, the company will have plenty of catalysts to support our Buy recommendation."

The Gold Report Interview with Scott Jobin-Bevans (5/2/12) "Jumping over the border into the Dominican Republic, we find Unigold Inc. immediately east of Newmont. Unigold, which was languishing around $0.09 less than six months ago, is now upward of $0.30 with intraday high of ~$0.47 in mid-January on the back of some impressive drill results that included 73m at 2.36 g/t gold from the Lomita Piña project next door to its Candelones deposit. . .Unigold then raised $11M on a bought deal, a lot of which will be spent on its projects in the northwest." More >

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