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05/03 - LionGold signs voluntary escrow agreement

Unity Mining Limited (ASX:UML, Unity) is pleased to announce that its largest
shareholder - LionGold Corp (LionGold) - has agreed to a 12-month voluntary
escrow period for its existing holding in the Company.

Unity Managing Director Andrew McIlwain said today “We welcome the decision by
LionGold to commit to escrow their current holding of 92.6 million shares (13.2%
of issued capital). This is clear demonstration of their support of Unity by both
addressing recent market conjecture in relation to any potential sell down, as well
as indicating their long term commitment to our growth objectives.

LionGold’s further investment in Unity via partial sub-underwriting of the
Shareholder Purchase Plan is a strong vote of confidence in the both the assets
and capability of Unity to deliver shareholder value into the future. In addition to
the $660,000 sub-underwriting of the SPP, Unity has agreed to allow LionGold the
an opportunity to increase its interest in Unity up to 19.9% via a subsequent
placement” said Mr McIlwain.

Commenting on LionGold’s investment in Unity, Acting Group Chief Executive
Officer Raymond Tan states, “LionGold is pleased to build on our relationship with
Unity through supporting their Shareholder Purchase Plan. LionGold continues to
see great value in Unity’s producing Henty Gold Mine, and in the development of
the Dargues Gold Mine in NSW, and we welcome any opportunity to encourage
Unity’s growth. LionGold remains committed to executing its growth strategy
through the acquisition of gold mining assets, strategic alliances, joint ventures
and financing or equity partners.”

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