Voluntary Delisting of Unigold Shares From the NASDAQ Dubai Exchange

TORONTO, ONTARIO -- (Marketwire) -- 10/12/10 -- Unigold Inc. ('Unigold' or the 'Company') (TSX VENTURE: UGD)(NASDAQ-DUBAI: UGD) wishes to announce that it has applied to voluntarily withdraw its common shares from the Official List of Securities of NASDAQ Dubai (the 'Official List') pursuant to section 40.3 of the Dubai International Financial Exchange Listing Rules (the 'Rules').

The Company has decided to delist its common shares from the Nasdaq DUBAI Exchange as the Company does not have any current intention to conduct business in the United Arab Emirates.

About Unigold Inc.

Unigold Inc. is exploring to find and develop gold deposits on its 100-per-cent-owned 226 km2 Neita Property located in the Dominican Republic. Having the largest land package in the Dominican Republic, the goal is to target bulk tonnage, open pit able, oxide gold deposits within a very similar geological setting to the world class Pueblo Viejo gold project located 150 kilometres to the south-east. The economics of any discovery will be significantly improved by the fact that Unigold is benefiting from a 16-year holiday on all corporate taxes, sales taxes and import duties in the Dominican Republic.

Certain statements contained in this press release may be deemed 'forward-looking statements'. All statements in this release, other than statements of historical fact, that address events or developments that the Corporation expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words 'expects', 'plans', 'anticipates', 'believes', 'intends', 'estimates', 'projects', 'potential', 'scheduled' and similar expressions, or that events or conditions 'will', 'would', 'may', 'could' or 'should' occur. Although the Corporation 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 may differ materially from those in forward looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include gold prices, access to skilled consultants, results of exploration and development activities, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment, timeliness of government approvals, actual performance of facilities, equipment and processes relative to specifications and expectations, unanticipated environmental impacts on operations market prices, continued availability of capital and financing and general economic, market or business conditions. These factors are discussed in greater detail in the Corporation's most recent Annual Information Form filed on SEDAR, which also provides additional general assumptions in connection with these statements. The Corporation cautions that the foregoing list of important factors is not exhaustive. The Corporation believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forwardlooking statements included in this press release should not be unduly relied upon. These statements speak only as of the date of this press release.

Contacts:

Unigold Inc.

Mr. Daniel Danis

President and C.E.O

+1-450-667-4766

Email: unigold@unigoldinc.com

Website: www.unigoldinc.com