Unigold Provides an Update on Activities in the Dominican Republic

Unigold (OTC: UGDIF) clarified that the Dominican Republic President's May 4, 2026 announcement halting activities at the Romero project applies only to GoldQuest's Romero project and does not affect Unigold's Neita Norte, Neita Sur or Candelones projects.

Rhea-AI Summary

Unigold (OTC: UGDIF) clarified that the Dominican Republic President's May 4, 2026 announcement halting activities at the Romero project applies only to GoldQuest's Romero project and does not affect Unigold's Neita Norte, Neita Sur or Candelones projects.

Unigold says it holds 100% rights to Neita Norte and Sur, has operated in Dajabon Province for over 20 years, renewed work permits in early April 2026, and expects no interruption to 2026 work programs. A February 2026 stakeholder survey reported >70% support for accelerating environmental studies at Candelones, while communities flagged concerns about water quality, surface impacts and benefit sharing.

Positive

• Holds 100% rights to Neita Norte and Neita Sur projects
• Work permits renewed in early April 2026
• Over 20 years of continuous operations in Dajabon Province
• February 2026 survey: >b>70% support for accelerating Candelones environmental studies

Negative

• President halted activities at Romero project on May 4, 2026, highlighting country-level protest risk
• Local communities expressed concerns about water quality, surface impacts and benefit sharing

Argus May 6 session

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Toronto, Ontario--(Newsfile Corp. - May 6, 2026) - Unigold Inc. (TSXV: UGD) (OTC Pink: UGDIF) (FSE: UGB1) ("Unigold" or the "Company") is aware of a recent statement by the Dominican Republic's President, Luis Abinader regarding specific exploration and development activities at the Romero Project of Goldquest Mining Corp ("GoldQuest") in the Dominican Republic.

On May 4, 2026, President Luis Abinader announced a halt to activities related to the GoldQuest Romero project in response to public concerns. The President's statement was specific to the Romero project and Unigold has confirmed that it does not extend to other mining or exploration projects operating within the country, including the Neita Norte and Neita Sur Projects operated by Unigold Inc. Unigold is not involved or associated with the Romero Project in any way.

Unigold maintains a 100% right to the Neita Sur and Norte Projects projects, both of which are outside of the San Juan Province where the Romero Project is located and where recent protests originated. Unigold has been continuously operating the Neita projects in Dajabon Province for over 20 years and has maintained consistently good relations with the local communities. Unigold has a fully staffed Community Information Office in the local communities and provides transparent communications at all times. A February 2026 outreach program involved a survey which asked a series of questions of stakeholders in order to gauge the degree of public support for the Candelones project (see PR2026-04 dated 27 Feb 2026 available on our website). Results showed overwhelming support (greater than 70%) for the acceleration of environmental studies regarding our flagship Candelones project. A similar portion of respondents indicated that they felt the project should proceed if the results of the environmental and social impact assessments are positive. Most people in the remote local communities are interested in the employment and economic spin-off opportunities as well as potential infrastructure improvements in terms of transportation, utilities, health and education. The communities expressed concerns regarding water quality, surface impacts and benefit sharing agreements. This study gives the Company the framework for future Community Engagement programs and helps us design benefit sharing agreements that will provide the highest impact to local communities.

"Unigold holds itself to the highest standards of responsible project development," commented Joseph Hamilton, Chairman and CEO of Unigold Inc. "The announcement by President Abinader relates only to the Romero Project and has no impact to the Candelones Project. Our Concessions remain in good standing and our work permits, which were renewed in early April of this year, also remain in good standing. We see no interruption in our work programs which we expect to smoothly progress over the remainder of 2026. We continue to have open dialogue with all levels of government in the Dominican Government, and we look forward to working closely with the local communities as we move towards development at Candelones."

About Unigold Inc. - Discovering Gold in the Caribbean

Unigold is a well-funded (> C$9 million in cash as at March 31, 2026) Canadian based mineral exploration company traded on the TSX Venture Exchange under the symbol UGD and on the Frankfurt Stock Exchange under the symbol UGB1. The multi-million ounce Candelones gold deposits are within the 100% owned "Neita Sur" concession located in Dajabón province, in the northwest part of the Dominican Republic. This 9,990 Ha concession has moved smoothly through various permitting stages and now awaits the granting of an Exploitation Concession. The Company delivered a feasibility study for the oxide portion of the Candelones deposit in Q4 of 2022. The 10,902 Ha "Neita Norte" Exploration Concession was awarded to the Company in Q2 2023. In early 2024 Unigold completed an earn-in agreement with Barrick Gold which allows Barrick to earn up to a 60% interest in the Neita Norte concession by spending a minimum of $12 million over an eight year period and delivering a Pre-feasibility Study on an identified deposit. Barrick can earn a further 20% in the Neita Norte concession by electing to sole-fund a feasibility study within the following 4 years. The two concessions together form the largest single exposure of the volcanic rocks of the Cretaceous Tireo Formation. This island arc terrain is host to Volcanogenic Massive Sulphide deposits, Intermediate and High Sulphidation Epithermal Systems and Copper-gold porphyry systems. Unigold has identified over 20 areas within the concession areas that host surface expressions of gold systems. Unigold has been concentrating on the multimillion ounce Candelones mineralization and is moving to bring these deposits into production. Unigold has been active in the Dominican Republic since 2002 and continues to receive strong support from the local communities for its exploration and development activities.

For further information please visit http://www.unigoldinc.com or contact:

Mr. Joseph Hamilton
Chairman & CEO
T. (416) 866-8157

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. 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 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. For more information, please visit https://www.unigoldinc.com/profile/forward-looking-statement.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/296294

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

Does the President's May 4, 2026 halt of the Romero project affect Unigold (UGDIF)?

No — the halt applies only to the Romero project. According to Unigold, its Neita Norte, Neita Sur and Candelones projects are not affected and continue under existing permits.

What is Unigold's ownership status of the Neita projects (UGDIF)?

Unigold holds 100% rights to the Neita Norte and Neita Sur projects, according to Unigold, with over 20 years of continuous operations in Dajabon Province.

Are Unigold's work permits current for 2026 (UGDIF)?

Yes — Unigold says its work permits were renewed in early April 2026. According to Unigold, concessions and permits remain in good standing and programs should proceed in 2026.

What did the February 2026 community survey say about Candelones (UGDIF)?

The survey showed greater than 70% support for accelerating environmental studies. According to Unigold, many respondents favor proceeding if impact assessments are positive.

What local concerns did communities raise about Unigold projects (UGDIF)?

Communities flagged concerns about water quality, surface impacts, and benefit sharing agreements. According to Unigold, these issues guide future engagement and benefit-sharing design.