Press Release
Unico, Inc. Announces Initiation of Process to
Complete Purchase of the Deer Trail Mine
Issued Wednesday June 6, 9:22 am ET
32 Patented Mining Claims and 171 Unpatented Mining Claims Are Subject to the
Purchase Agreement
SAN DIEGO, CA--(MARKET WIRE)--Jun. 6, 2007--Unico,
Incorporated (OTC BB: UCOI), a natural resource company in the precious metals
mining sector, today announced that the process of transferring ownership of
the Deer Trail Mine from Crown Mines, LLC has been initiated and the company
expects to complete the purchase of the property once the necessary agreements
have been executed.
Legal representatives from Unico, Inc. and Crown
Mines, LLC are working to complete several necessary documents related to the
purchase, including a purchase agreement, a bill of sale and a quitclaim deed
to effect the transfer of ownership of the Deer Trail
Mine property.
The mining lease and option to purchase between Unico, Inc. and Crown Mines,
LLC, dated December 12, 2001, was adjusted through a first modification of
mining lease and option to purchase, dated May 31, 2004, a second modification
of mining lease and option to purchase, dated April 21, 2006, a third modification
of mining lease and option to purchase, dated November 1, 2006, and a fourth
modified lease and option to purchase agreement in April 2007, which provided
for a due date of May 31, 2007 for Unico, Inc. to exercise its purchase option.
Under the agreement, Deer Trail Mining Company, LLC has the right to acquire
the mining claims located in Marysvale,
Utah, which consist of 32
patented mining claims and 171 unpatented mining claims, as well as mill sites,
dumps and other transferable rights contained in the agreement.
The claims covered in the purchase agreement total approximately 3,275 acres, or 5.12
square miles, and include workings known as the Deer Trail Mine, the PTH Tunnel
and the Carisa and Lucky Boy Mines. The PTH Tunnel penetrates more than 10,000 feet, with a
developed network of tunnels, shafts, stopes, and raises
at the 3,400-foot-area and at the 8,000-foot-area, and was mined by prior
owners for gold and silver. The initial Deer Trail claims date back to 1870.
"We are extremely pleased to have initiated this process to consummate the
purchase of the Deer Trail Mine from Crown Mines, LLC and to secure this
property as a long-term asset for the company," stated Mark A. Lopez,
chief executive officer of Unico, Inc. "We plan to provide an update
reporting the status of the purchase and the expected transfer of ownership of
the property once the paperwork is completed and the transfer of title occurs. The
company is not only excited to get to this stage, but is also looking to
finalize the transaction, so it can move forward with its future plans for the
project. We appreciate the coordination of efforts taken from all sides to make
this happen."
Shareholders who would like to sign up to receive information by email directly
from Unico, Inc., including when new photo galleries are posted to the company
website, are asked to visit the company's website at http://www.unicomining.com/IR/mailinglist.php
and fill in the appropriate fields.
About Unico, Inc.
Unico, Inc. (OTC BB: UCOI) 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. The company has also announced agreements to acquire over 70
additional mining claims. For more information, please visit
www.unicomining.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.
Contacts:
Gemini Financial Communications, Inc.
A. Beyer
951-587-8072
investors@unicomining.com
OTC Financial Network
Rick McCaffrey
781-444-6100, x625
rick@otcfn.com
www.otcfn.com/ucoi
.