Mr. Joseph Hamilton reports

UNIGOLD ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT OF $1,470,060

Unigold Inc. has closed a non-brokered private placement of 8,167,000 units of the company at a price of 18 cents per unit for gross proceeds of $1,470,060. Each unit consists of one common share of the company and one-half of one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one common share at an exercise price of 22 cents for two years following the date of issue.

No finders' fees were paid in connection with this closing of the offering. The proceeds from the offering will be used to finance the company's continued exploration and development on its Neita Sur concession in the Dominican Republic and for general working capital purposes. All securities issued under the offering are subject to a four-month hold period. The offering is subject to final acceptance of the TSX Venture Exchange.

Insiders of the company subscribed for units under the offering, as detailed in the attached table.

Each subscription by an insider is considered to be a related party transaction for purposes of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions, and Policy 5.9, Protection of Minority Security Holders in Special Transactions, of the TSX Venture Exchange. Pursuant to MI 61-101, the company will file a material change report providing disclosure in relation to each related party transaction on SEDAR+ under the company's issuer profile. The company did not file the material change report more than 21 days before the expected closing date of the offering as the details of the offering and the participation therein by each related party of the company were not settled until shortly prior to the closing of the offering, and the company wished to close the offering on an expedited basis for sound business reasons. The company is relying on exemptions from the formal valuation and minority shareholder approval requirements available under MI 61-101. The company is exempt from the formal valuation requirement in Section 5.4 of MI 61-101 in reliance on sections 5.5(a) and (b) of MI 61-101 as the fair market value of the transaction, insofar as it involves interested parties, is not more than the 25 per cent of the company's market capitalization, and no securities of the company are listed or quoted for trading on prescribed stock exchanges or stock markets. Additionally, the company is exempt from minority shareholder approval requirement in Section 5.6 of MI 61-101 in reliance on Section 5.7(1)(a) as the fair market value of the transaction, insofar as it involves interested parties, is not more than the 25 per cent of the company's market capitalization.

About Unigold Inc.

Unigold is a Canadian-based mineral exploration company traded on the TSX Venture Exchange under the symbol UGD and on the Frankfurt Stock Exchange under the symbol UGB1. The multimillion-ounce Candelones gold deposits are within the 100-per-cent-owned Neita Sur concession located in Dajabon province, in the northwestern part of the Dominican Republic. This 9,990-hectare concession has moved smoothly through various permitting stages and now awaits the granting of an exploitation concession. The application rests with the President's office for final approval. The company delivered a feasibility study for the oxide portion of the Candelones deposit in Q4 (fourth quarter) 2022. The 10,902-hectare Neita Norte exploration concession was awarded to the company in Q2 (second quartet) 2023. In early 2024, Unigold completed an earn-in agreement with Barrick Gold, which allows Barrick to earn up to a 60-per-cent interest in the Neita Norte concession by spending a minimum of $12-million over an eight-year period and delivering a prefeasibility study on an identified deposit. Barrick can earn a further 20 per cent in the Neita Norte concession by electing to sole-finance a feasibility study within the following four years. The two concessions together form the largest single exposure of the volcanic rocks of the Cretaceous Tireo formation. This island arc terrain is host to volcanogenic massive sulphide deposits, intermediate- and high-sulphidation epithermal systems, and copper-gold porphyry systems. Unigold has identified over 20 areas within the concession areas that host surface expressions of gold systems. Unigold has been concentrating on the multimillion ounce Candelones mineralization and is moving to bring these deposits into production. Unigold has been active in the Dominican Republic since 2002 and continues to receive strong support from the local communities for its exploration and development activities.

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