Unity
GoldSilver Mines, Inc.
620 W. 7th Avenue, Suite 303, Spokane,
WA 99204
509-747-1613 fax 509-747-0123 toll free 877-728-8885
unitygoldsilver@msn.com www.unitygoldsilvermines.com
GOOD NEWS ! Shareholder Update August 21, 2007
Unity is pleased to announce that an Option Agreement was signed on July 27, 2007 with
Maximus Ventures LTD of Montreal Canada.
Maximus has agreed to spend $1,000,000 in exploration and development
work on the Unity properties, and by completing a positive feasibility study, to
earn a 60% joint venture interest in the Unity Project.
Unity’s Directors believe
that we are fortunate to forge an alliance with a well qualified mining group
such as Maximus who is experienced, well funded and enthusiastic about the
Unity Project.
Maximus
- US Subsidiary Maximus will work in the United States
through its wholly-owned US-based subsidiary, Walker Lane Gold LLC, a Nevada
corporation (Walker). Maximus/Walker initial plans for the
first phase of exploration will include rehabilitating the Unity adit (crosscut
tunnel) which will facilitate the underground drilling program. Maximus/Walker may take up to three years for
exploration and development work in order to produce the feasibility
study.
Joint Venture Agreement Upon delivery of a
positive feasibility study, Maximus/Walker will have earned a 60% interest and
the joint venture agreement will be activated.
Walker and Unity will fund construction expenditures according to their
participation in the project. However,
should Unity elect not to fund its 40% of the construction costs, Walker has
agreed to finance all construction costs necessary to develop and bring the
property to production, which could amount to several million dollars. If Walker finances all construction costs,
they will receive an additional 5% participation from Unity as compensation. Walker will be the project manager during the
exploration, construction and operation phases of the program.
Shareholder Meeting Unity Directors have signed
the Option Agreement with Maximus Ventures Ltd.
The Joint Venture Agreement will be drawn by Unity’s attorney and the
document will require approval by Unity shareholders. A meeting for this purpose must be
accomplished within twelve months from the signing of the Option Agreement.
Mill There is a fully permitted 125 ton per day gravity
mill in good working condition available within 2500 feet from the Unity mine
portal. This could represent a
significant opportunity for the joint venture to accelerate the project to
production. The mill is not in operation
at this time and may be leased for custom milling of Unity ore.
Projected Work
Start Forest fires have
been burning during July and August in the north central Idaho area near Warren
which has delayed the beginning of work on the project. My wife Candee and I met with the Exploration
Manager of Maximus, Bernard Boily, and their American Geologist, David Wolfe,
on the Unity Properties last week. The
fires have not damaged the community of Warren to this date. Present plans are projected for work to begin
in September of this year.
New Claims Thirteen new claims have been staked in
August by Unity bringing the project acreage up to 1,016 acres which includes 8
patented/deeded claims of 158 acres and 51 staked claims. Up to twenty additional claims are being
staked at this writing. After activation of the joint
venture agreement, any new property acquisitions by either company within a
radius of ten miles will be included in the agreement.
Sale of
Additional Shares Unity’s Directors have agreed to open the sale of
additional shares for a limited time to current shareholders at the original price
of $2.00 per share. Funds will be utilized
to cover company expenses during the phases up to production to include
professional consultants to represent Unity’s interests on site.
If you have questions or
need additional information, please call Unity’s office toll free at 877-728-8885. We appreciate your patronage
and your belief in Unity. We will keep
you advised as to our progress.
Best regards,
Ray G. Bohn
President/CEO