Unigold Announces Management Change and Grants Stock Options

Toronto, Ontario--(Newsfile Corp. - March 6, 2020) - Unigold Inc. (TSXV: UGD) ("Unigold" or the "Company") announces the retirement of John Green from the Company. Mr. Green has served the Company for many years in both the CFO and Corporate Secretary roles. Joe Hamilton, Chairman & CEO of Unigold, comments: "I have had a chance to work closely with John over the past ten years. On behalf of the Board of Directors, I would like to thank John for his years of diligent and dedicated service to Unigold. John has played a key role in the management of Unigold since his appointment in late 2010 and has supported a number of management teams. His firm hand and welcome advice will be missed. We wish John all the best in his retirement."

The Company is pleased to announce the appointment of Ms. Donna McLean as Chief Financial Officer of the Company. Ms. McLean has over 30 years' experience working with numerous publicly traded and private companies, specializing in the areas of financial reporting, controls and administration. She has served as CFO for several junior mineral exploration companies. The Company has also retained Grove Corporate Services Ltd. to provide administrative and corporate secretarial support. Grove's Ms. Helga Fairhurst has been appointed as the Corporate Secretary of the Company. Ms. Fairhurst has over 12 years' experience with providing corporate administrative and secretarial services to public mining and exploration companies listed on the TSX, TSXV, and the CSE.

In addition, the Company has appointed Adelaide Capital Markets to assist with its marketing and Investor Relations programs. Adelaide Capital is a full-service Investor Relations firm with extensive capital markets experience specializing in small and mid-cap companies. Adelaide will help the Company to develop a tailored, strategic Investor Relations program that will allow the company to have a larger impact with investors throughout North America and around the world.

Further, the Board of Directors has granted, in aggregate, 150,000 stock options to members of management and consultants. The options have an exercise price of $0.15, a term of five years and vest over various periods.

About Unigold Inc.

Unigold is a Canadian based mineral exploration company traded on the TSX Venture Exchange under the symbol UGD, focused primarily on exploring and developing its gold assets in the Dominican Republic.

For Further Information please visit www.unigoldinc.com or contact:
Mr. Joseph Hamilton,
Chairman & CEO
jhamilton@unigoldinc.com
416.866.8157

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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