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20/03 - LionGold commits to increased stake in Unity

Unity Mining Limited (ASX:UML) (Unity or the Company) is pleased to advise
that LionGold Corp Ltd (LionGold) has entered into a binding subscription
agreement to acquire additional shares in Unity by way of a share placement to
increase its stake in Unity to 19.9%.

As announced on 17 February 2014, Unity’s major shareholder, LionGold, had
committed to sub-underwrite Unity’s Share Purchase Plan (SPP) in line with its
then current holding of 13.2%. In addition, Unity agreed to allow LionGold an
opportunity to increase its interest in the Company up to a maximum of 19.9%
via a subsequent placement.

Under the terms of the subscription agreement, LionGold will now acquire an
additional 87.8 million shares via this placement to increase its holding in Unity to
19.9%. The pricing of the shares offered under the placement is the same price
as set for shares offered under the SPP at 2.7 cents per share, for a total
consideration of $2.37 million.

Commenting on the further financial commitment from LionGold, Unity’s
Managing Director Andrew McIlwain said “We welcome this further commitment
from LionGold, which builds on its recent agreement to escrow for 12 months its
current 92.3 million shares in Unity. LionGold has continued to demonstrate its
confidence in Unity and is distinguishing itself as a partner of choice in the
Australian junior gold space.”

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