Unigold Inc. provided an update on permitting, engineering and environmental activities surrounding the Candelones Oxide Project. Activities remain on schedule and the Company expects to be able to deliver a NI43-101 compliant feasibility study ("FS"), an Environmental and Social Impact Assessment ("ESIA") and an approved Exploitation Concession licence during the third quarter of this year. In late February 2022, the Company submitted an application to convert a portion of the Neita Exploration Concession into an Exploitation Concession.

The application was accepted as complete by the Dirección General de Minería and published in the national press as required by Dominican Mining Law. No material comments were received from the public regarding the application. The perimeter survey work and control points have been checked and verified by the General de Minería who are now finalizing their review.

Once this review is complete the Company expects is that a favourable opinion on the technical, economical and social aspects will be granted at which point the application will be passed up to the Ministerio de Energía y Minas for review by the Minister's office and ultimately sent for Presidential review. The Company is hopeful of receiving the completed Exploitation Concession Licence in the third quarter of this year. Once granted, the licence gives the Company the sole right to extract most metallic minerals from the concession area for 75 years.