Press Release Source: Unico, Inc.
Unico, Inc. Announces Agreement to Acquire Additional Utah Lease on the Clyde and Crown Point Mineral Claims
Tuesday August 8, 10:15 am ET
SAN DIEGO, CA--(MARKET WIRE)--Aug 8, 2006 -- Unico, Incorporated (OTC BB:UNCN.OB - News), a natural resource company in the precious metals mining sector, today announced that its wholly owned subsidiary, Deer Trail Mining Company, Inc., has signed an agreement to acquire an additional mining lease in Piute County Utah for the purpose of conducting mine exploration, evaluation, and mining activities on the leased property.
The lease is a 33-acre property, which includes the patented Clyde and Crown Point mineral claims, located directly southwest of the Deer Trail Mill site in the Mount Baldy Mining District. The Clyde claim was originally staked in the 1880s when silver and gold ore was discovered on the hillside. Shortly thereafter, the Crown Point claim was staked, partially overlapping the Clyde.
Under terms of the agreement, Deer Trail Mining Company will hold the leased premises for the purpose of exploring, evaluating and mining all kinds of minerals and ores for a period of approximately two years from the July 31, 2006 effective date of the lease agreement. The Deer Trail Mining Company has the right to extend the term of the agreement for up to fifty consecutive additional one-year periods by giving the lease holder written notice of the Deer Trail Mining Company's election to extend on or before July 31 of each year, beginning in 2008.
In consideration for the rights given under the agreement, the Deer Trail Mining Company agreed to pay the lease holder an amount equal to three percent of the gross sales proceeds from all ore, concentrates, and all other productions of mineral resources extracted from the claims.
"This acquisition is significant for several reasons, not the least of which is to again demonstrate Unico's commitment to its subsidiary operations in the area of the Deer Trail Mine," stated Mark A. Lopez, chief executive officer of Unico, Inc. "We expect to be there for a long time, and with the expected completion of the mill and processing facility located at the Deer Trail Mine, it only makes sense for Unico to pursue additional favorable acquisition opportunities as they present themselves.
"Historical information from the two claims, as well as recent in-house analysis, has led us to believe that a significant amount of economically extractable mineral could exist on this lease, and we look forward to the opportunity to explore the possibilities as part of our ongoing efforts to build value for Unico shareholders. An in-depth sampling program is scheduled during the coming weeks and depending on the results of that program, drilling may be scheduled for early next year," added Mr. Lopez.
Unico is financing the reconstruction of the mill and processing facility at the Deer Trail Mine for the purpose of improving the efficiency and capacity of future operations at the facility as the company begins processing stockpiled material currently present on the property. The facility will be utilized to process material harvested from future mining programs at the Deer Trail Mine, stockpiled and subsequently mined material from the other Unico subsidiaries, and similar material from additional acquisitions, such as this lease.
Once the mill is operational, and material from these properties is processed, the concentrates will be sold in fulfillment of the company's five-year purchase contract with PGM, LLC, a private subsidiary of Polymet Corporation.
Shareholders who would like to sign up to receive information by email directly from Unico, Inc., particularly when new press releases, SEC filings or other information is disclosed, are asked to visit the company's website at www.uncn.com/IR/mailinglist.asp.
About Unico, Inc.
Unico, Inc. (OTC BB:UNCN.OB - News) is a publicly traded natural resource company in the precious metals mining sector that is focused on the exploration, development and production of gold, silver, lead, zinc, and copper concentrates at its three mine properties: the Deer Trail Mine, the Bromide Basin Mine and the Silver Bell Mine. For more information, please visit www.uncn.com.
Forward-Looking Statements
This news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and such Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. The company may experience significant fluctuations in operating results due to a number of economic, competitive and other factors. These factors could cause operation results to vary significantly from those in prior periods, and those projected in forward-looking statements. Information with respect to these factors, which could materially affect the company and its operations, are included on certain forms the company files with the Securities and Exchange Commission.
Contact:
Contacts:
Gemini Financial Communications for Unico, Inc.
A. Beyer
951-587-8072
Email Contact
www.uncn.com
OTC Financial Network
Rick McCaffrey
781-444-6100, x625
Email Contact
www.otcfn.com/uncn
Source: Unico, Inc.
www.investorshub.com/boards/board.asp?board_id=177
Unico, Inc. Announces Agreement to Acquire Additional Utah Lease on the Clyde and Crown Point Mineral Claims
Tuesday August 8, 10:15 am ET
SAN DIEGO, CA--(MARKET WIRE)--Aug 8, 2006 -- Unico, Incorporated (OTC BB:UNCN.OB - News), a natural resource company in the precious metals mining sector, today announced that its wholly owned subsidiary, Deer Trail Mining Company, Inc., has signed an agreement to acquire an additional mining lease in Piute County Utah for the purpose of conducting mine exploration, evaluation, and mining activities on the leased property.
The lease is a 33-acre property, which includes the patented Clyde and Crown Point mineral claims, located directly southwest of the Deer Trail Mill site in the Mount Baldy Mining District. The Clyde claim was originally staked in the 1880s when silver and gold ore was discovered on the hillside. Shortly thereafter, the Crown Point claim was staked, partially overlapping the Clyde.
Under terms of the agreement, Deer Trail Mining Company will hold the leased premises for the purpose of exploring, evaluating and mining all kinds of minerals and ores for a period of approximately two years from the July 31, 2006 effective date of the lease agreement. The Deer Trail Mining Company has the right to extend the term of the agreement for up to fifty consecutive additional one-year periods by giving the lease holder written notice of the Deer Trail Mining Company's election to extend on or before July 31 of each year, beginning in 2008.
In consideration for the rights given under the agreement, the Deer Trail Mining Company agreed to pay the lease holder an amount equal to three percent of the gross sales proceeds from all ore, concentrates, and all other productions of mineral resources extracted from the claims.
"This acquisition is significant for several reasons, not the least of which is to again demonstrate Unico's commitment to its subsidiary operations in the area of the Deer Trail Mine," stated Mark A. Lopez, chief executive officer of Unico, Inc. "We expect to be there for a long time, and with the expected completion of the mill and processing facility located at the Deer Trail Mine, it only makes sense for Unico to pursue additional favorable acquisition opportunities as they present themselves.
"Historical information from the two claims, as well as recent in-house analysis, has led us to believe that a significant amount of economically extractable mineral could exist on this lease, and we look forward to the opportunity to explore the possibilities as part of our ongoing efforts to build value for Unico shareholders. An in-depth sampling program is scheduled during the coming weeks and depending on the results of that program, drilling may be scheduled for early next year," added Mr. Lopez.
Unico is financing the reconstruction of the mill and processing facility at the Deer Trail Mine for the purpose of improving the efficiency and capacity of future operations at the facility as the company begins processing stockpiled material currently present on the property. The facility will be utilized to process material harvested from future mining programs at the Deer Trail Mine, stockpiled and subsequently mined material from the other Unico subsidiaries, and similar material from additional acquisitions, such as this lease.
Once the mill is operational, and material from these properties is processed, the concentrates will be sold in fulfillment of the company's five-year purchase contract with PGM, LLC, a private subsidiary of Polymet Corporation.
Shareholders who would like to sign up to receive information by email directly from Unico, Inc., particularly when new press releases, SEC filings or other information is disclosed, are asked to visit the company's website at www.uncn.com/IR/mailinglist.asp.
About Unico, Inc.
Unico, Inc. (OTC BB:UNCN.OB - News) is a publicly traded natural resource company in the precious metals mining sector that is focused on the exploration, development and production of gold, silver, lead, zinc, and copper concentrates at its three mine properties: the Deer Trail Mine, the Bromide Basin Mine and the Silver Bell Mine. For more information, please visit www.uncn.com.
Forward-Looking Statements
This news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and such Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. The company may experience significant fluctuations in operating results due to a number of economic, competitive and other factors. These factors could cause operation results to vary significantly from those in prior periods, and those projected in forward-looking statements. Information with respect to these factors, which could materially affect the company and its operations, are included on certain forms the company files with the Securities and Exchange Commission.
Contact:
Contacts:
Gemini Financial Communications for Unico, Inc.
A. Beyer
951-587-8072
Email Contact
www.uncn.com
OTC Financial Network
Rick McCaffrey
781-444-6100, x625
Email Contact
www.otcfn.com/uncn
Source: Unico, Inc.
www.investorshub.com/boards/board.asp?board_id=177
