UNICO INCORPORATED (AZ) (fka UNCO)

[lightbeam]

It's done we own the mine! Unico, Inc. Announces Completion of the Deer Trail Mine Purchase
25 minutes ago - Market Wire
Unico, Incorporated (OTCBB: UCOI), a natural resource company in the precious metals mining sector, today announced the completion of the purchase of the Deer Trail Mine in Marysvale, Utah from Crown Mines, LLC. With all the agreements now executed between Unico's wholly owned subsidiary, Deer Trail Mining Company, LLC, and Crown Mines, LLC and the transfer of the final payment of $1.7 million to Crown Mines completed, the purchase is expected to record in the next several days and ownership fully conveyed to Deer Trail Mining Company.

The documents completed to execute the close of the purchase of the Deer Trail Mine included an agreement, bill of sale and water deed, quitclaim deed, water rights lease, and assignment of contractual water rights for the property.

To fully exercise the purchase option of the lease, the final payment of $1,700,000 was paid on July 30, 2007 and applied directly to the $4,000,000 purchase price of the Deer Trail Mine lease and option to purchase. In early September 2004, Unico made a payment of $1,000,000 to Crown Mines, and an additional $1,000,000 in subsequent payments since November 1, 2006, plus an additional $300,000 was paid on April 30, 2007.

With the completion of the purchase, Unico is expected to book the Deer Trail Mine property as a $4 million asset of its future quarterly and annual financial reports.

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, a fourth modified lease and option to purchase agreement dated April 26, 2007, and a fifth modified lease and option to purchase agreement dated June 29, 2007. A final due date of July 31, 2007 for Unico, Inc. to exercise its purchase option was announced in a mutual agreement by both parties in July 2007.

Under the mining lease and option to purchase agreement, Deer Trail Mining Company, LLC had 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. Included in the agreements executed between Deer Trail Mining Company and Crown Mines were the transfer of specified water rights to Deer Trail Mining Company and the retention of a portion of those rights by Crown Mines.

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.

"Completion of the purchase of the Deer Trail Mine is truly a major milestone in the history of Unico, and we are extremely pleased to have paid the remaining balance to exercise the purchase option and executed the final documents for the transfer of ownership to our wholly owned Deer Trail Mining Company subsidiary," stated Mark A. Lopez, chief executive officer of Unico, Inc. "Not only do we have the immediate impact of a $4 million asset that we plan to include on future consolidated financial reports, but with the anticipated start-up of operations at the mill and processing facility at the Deer Trail Mine and future potential mining programs at the site, the true long-term potential of this property is expected to extend well beyond the initial asset value."

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. (OTCBB: 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 951-677-8073 Email Contact OTC Financial Network Rick McCaffrey 781-444-6100, x625 Email Contact www.otcfn.com/ucoi
SOURCE: Unico, Inc.

http://www2.marketwire.com/mw/emailprcntct?id=1BDFBC6951ACAE8F http://www2.marketwire.com/mw/emailprcntct?id=B2B89E6CF5B27041 http://www.otcfn.com/ucoi Recent Market News
August 1, 2007
9:42AMMurphy Oil Boosts Qtrly Div To 18.75c >MUR
9:42AMMurphy Oil Announces Div Increase
9:42AMFed Accepts $6.75 Bln In Overnight RPs
9:42AMComtech Acquires Display Panel Solutions Provider To Enhance Shr Of Digital Media Sector In China
9:42AMFed Accepts $6.75 Bln In Overnight RPs
9:42AMAlrosa Receives OK To Develop New $3.5 Bln Diamond Deposit
9:41AMCrystal River Cut To Hold From Buy At AG Edwards >CRZ
9:41AMDT: Continues Talks With Possible T-Systems Partners
9:41AMDow AgroSci Buys Agromen Tecnologia Corn Seed Business
9:41AMGazprom: Will Ensure All Paying Clients Get Delivery In Full

1, 2, 3, 4, 5 ... Next 5 Search News & Commentary
Keywords
Symbol
Exact Phrase
Select Source
News
Press Releases
Commentary
Submit