UGD Unigold Inc

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES 


Unigold Inc. (TSX VENTURE:UGD) (the "Company") is pleased to announce that it
has entered into a revised letter of engagement with Dundee Securities Ltd. (the
"Lead Underwriter") together with Primary Capital Inc. as co-lead, and a
syndicate of underwriters including Stifel Nicolaus Canada Inc., Clarus
Securities Inc. and PowerOne Capital Markets Limited (the "Underwriters") under
which the Underwriters have now agreed to purchase, on a "bought deal" private
placement basis, 34,800,000 units of the Company (the "Units") at a price of
$0.30 per Unit for total gross proceeds of $10,440,000 (the "Offering"). The
Underwriters have been granted the option to purchase up to an additional
5,220,000 Units, exercisable in whole or in part at any time up to 48 hours
before the Closing Date (the "Option"). If the Option is exercised in full,
total gross proceeds to the Company will be $12,006,000. 


Each Unit shall consist of one common share of the Company and one-half of one
common share purchase warrant ("Warrant"). Each whole Warrant shall entitle the
holder thereof to acquire one common share of the Company at a price of $0.50
for a period of 24 months following the Closing Date. The Warrants will not be
listed for trading. 


In connection with the Offering, the Underwriters will receive a cash commission
equal to 7.0% of the gross proceeds raised under the Offering (inclusive of the
Option) and that number of non-transferable broker warrants as is equal to 7.0%
of the number of Units sold (inclusive of the Option). Each Broker Warrant will
be exercisable into one common share of the Company, for a period of 24 months
from the Closing Date at a price of $0.30 per common share. 


The Offering is scheduled to close on or about March 8, 2012. All securities
issued will be subject to a four month hold period. The Offering is subject to a
number of conditions, including, without limitation, receipt of all regulatory
approvals. 


The net proceeds will be used to advance the exploration and development of the
Company's gold assets in the Dominican Republic and for general corporate
purposes.


About Unigold Inc. - Discovering Gold in the Caribbean

Unigold is a growth-oriented junior natural resource company, focused primarily
on exploring and developing its gold assets in the Dominican Republic - a
country which is highly prospective for gold mineralization.


Forward-Looking Statements

Certain statements contained in this document, including statements regarding
events and financial trends that may affect our future operating results,
financial position and cash flows, may constitute forward-looking statements
within the meaning of the federal securities laws. These statements are based on
our assumptions and estimates and are subject to risk and uncertainties. You can
identify these forward-looking statements by the use of words like "strategy",
"expects", "plans", "believes", "will", "estimates", "intends", "projects",
"goals", "targets", and other words of similar meaning. You can also identify
them by the fact that they do not relate strictly to historical or current
facts. We wish to caution you that such statements contained are just
predictions or opinions and that actual events or results may differ materially.
The forward-looking statements contained in this document are made as of the
date hereof and we assume no obligation to update the forward-looking
statements, or to update the reasons why actual results could differ materially
from those projected in the forward-looking statements. Where applicable, we
claim the protection of the safe harbour for forward-looking statements provided
by the (United States) Private Securities Litigation Reform Act of 1995.

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