Unigold Inc.-Proposed Strategic Investment from IFC

TORONTO, ONTARIO -- (Marketwired) -- 04/16/13 -- Unigold Inc. ("Unigold") (TSX VENTURE: UGD)

Highlights:

--  IFC, a member of the World Bank Group, is proposing to make a $5,000,000
    investment in Unigold Inc.
--  The potential investment will be IFC's first mining sector investment in
    the Dominican Republic
--  An investment by IFC would not only be a strong endorsement of the
    technical strengths, socio-environmental standards and economic
    potential of Unigold Inc.'s Neita Project, but would also provide
    ongoing access to IFC's expertise in this area
--  An IFC equity investment would positively assist with potential future
    equity financing from IFC, as well as potential debt financing from IFC
    and other Equator Principle banks for the development of the Neita
    Property

The terms of the potential investment are that IFC would make a $5-million investment in the Company at a share price of a 20 day VWAP at $0.25 per share, adding to Unigold's existing cash reserves of $5.8-million. Following this investment, IFC would hold approximately 20-million common shares in the Company, representing approximately 8.2% of the issued share capital. IFC would also receive three quarters of a warrant per share subscribed for at a strike price of $0.50 per full warrant, with a 4 year term, with accelerator terms applicable to 50% of the warrants. The investment is subject to the execution of final documentation and the approval by the IFC board of directors.

Andrew Cheatle, President and CEO, said:

"The board and executive management have thoroughly considered the merits of a strategic IFC investment and have unanimously concluded that it is in the best interests of existing Unigold Inc. shareholders. Having IFC's approval to their high standard of technical, environmental and social due diligence in this investment will mark a significant endorsement to the viability of the Candelones deposit and the Neita Property in general."

The possibility that IFC will make its first mining sector investment in the Dominican Republic with Unigold will be a great achievement for the Company. Investment from IFC brings with it not only a technical and environmental endorsement of the project but also support in these areas as we develop an initial mineral resource and look to make and develop new discoveries and longer term, develop mineral reserves - all with access to their experienced team. Longer term, an IFC investment also opens up the potential of future equity financing with their support."

About Unigold Inc. - Discovering Gold in the Caribbean

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.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities of Unigold in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or unless an exemption from such registration is available.

Cautionary Language and Forward-Looking Statements

This press release includes certain statements that may be deemed "forward-looking statements". All statements in this discussion, other than statements of historical facts, that address future exploration drilling, exploration activities, anticipated metal production, internal rate of return, estimated ore grades, commencement of production estimates and projected exploration and capital expenditures (including costs and other estimates upon which such projections are based) and events or developments that Unigold expects, are forward-looking statements. Although Unigold believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include metal prices, exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Accordingly, readers should not place undue reliance on forward-looking statements.

Neither the TSX Venture Exchange, nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Contacts:

Unigold Inc.

Mr. Andrew M. Cheatle, P.Geo.

President & CEO
acheatle@unigoldinc.com


Unigold Inc.

Ms. Amanda Dillon

Investor Relations

416.866.8157
adillon@unigoldinc.com
www.unigoldinc.com