UNICO INCORPORATED (AZ) (fka UNCO)

[Matt55]

NEWS: Unico, Inc. Announces $1 Million Payment

Press Release Source: Unico, Inc.

Unico, Inc. Announces $1 Million Payment and Extension of Deer Trail Mine Lease and Option to Purchase With Crown Mines, LLC
Monday November 6, 8:59 am ET

SAN DIEGO, CA--(MARKET WIRE)--Nov 6, 2006 -- Unico, Incorporated (OTC BB:UCOI.OB - News), a natural resource company in the precious metals mining sector, today announced an agreement with Crown Mines, LLC to extend the lease and purchase option of Deer Trail Mine for its wholly owned subsidiary, Deer Trail Mining Company, LLC, which includes a $1 million payment that will be applied to the total purchase price.

Under terms of the modified lease and option to purchase agreement, the payment due date for the remaining $2,000,000 to purchase the lease of the Deer Trail Mine has been extended to January 31, 2007 from its November 1, 2006 due date. 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, and a second modification of mining lease and option to purchase, dated April 21, 2006. In early September 2004, Unico also made a payment of $1,000,000 to Crown Mines that was applied toward the $4,000,000 purchase price of the Deer Trail Lease.

In the months since Unico entered into the second modified lease agreement, the company has focused significant time, effort and resources on the development of long-term value for shareholders at the Deer Trail Mine. Included in its achievements during this period is the ongoing reconstruction and improvements of the mill and processing facility. Significant improvements have been made that are expected to improve both efficiency and capacity in processing operations at the Deer Trail Mine. Concurrently, Deer Trail Mining Company has strategically contracted with mining consultancy firm Behre Dolbear and Company (USA), Inc. to oversee independent geological logging and analysis of samples taken from the underground diamond core drilling program conducted at the Deer Trail Mine in 2005.

"We are pleased to reach an agreement with Crown Mines to extend the lease and option to purchase for the Deer Trail Mine, so that we can secure this property as a long-term asset for the company," said Mark A. Lopez, chief executive officer of Unico, Inc. "There has been consistent progress in developing value from our operations at the Deer Trail, and we look forward to reaching even more significant milestones in the next several months with the anticipated completion of the mill and the Final Summary Report expected from Behre Dolbear on the core samples from the underground diamond core drilling program."

"The continued support of Crown Mines has been extremely helpful through the modifications of our lease and option to purchase agreement, and we expect to exercise the purchase option by the deadline established in this agreement," added Mr. Lopez.

Shareholders who would like to sign up to receive information by email directly from Unico, Inc., particularly when new press releases, SEC filings or other information is disclosed, are asked to visit the company's website at http://www.unicomining.com/IR/mailinglist.php.

About Unico, Inc.

Unico, Inc. (OTC BB:UCOI.OB - News), 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 recently 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.


Contact:

Contacts:
Gemini Financial Communications for Unico, Inc.
A. Beyer
951-587-8072
Email Contact
http://www.unicomining.com

OTC Financial Network
Rick McCaffrey
781-444-6100, x625
Email Contact
http://www.otcfn.com/uncn


Source: Unico, Inc.