Dominican Republic's Government Upholds Unigold's Exclusive Rights to apply for the Neita Exploration Concession
TSX VENTURE: UGD
TORONTO, ONTARIO--(Marketwired - March 2, 2017) - Unigold Inc. ("Unigold" or the "Company") (TSX VENTURE:UGD) would like to update shareholders on the status of its exploration concession application in respect of its flagship Neita Property in the Dominican Republic.
Unigold received notice today that the Ministry of Energy and Mines (the "Ministry") of the Dominican Republic has upheld Unigold's exclusive right to reapply for the Neita exploration concession pursuant to the provisions of the Mining Law and the rules of application of the Mining Law. Consequently no other applications for the concession will be considered. The Company expects to receive a final decision upon the completion of the evaluation of its application. While the Ministry has not given any indicative timing for the completion of the process, the Company is optimistic that it may receive the final decision within the next couple of months.
Unigold is encouraged by the speed, professionalism and openness that Ministry representatives demonstrated throughout the past few weeks. The Company continues to believe that the Dominican Republic is a premier destination for mineral exploration in terms of government transparency, mineral wealth, stable government, open economic borders, trained workforce and installed infrastructure.
Unigold continues to advise investors to use caution in the trading of the Company's securities until such time as notice is received from the Ministry regarding the final status of the application for Neita.