EMR Emergent Metals Corp

Emgold Mining Corporation ("Emgold" or the "Company") (TSX
VENTURE:EMR)(OTCQB:EGMCF)(FRANKFURT:EML) is pleased to announce that, as
outlined in its July 13, 2012 press release, it has completed the re-pricing and
extension of the expiry date of certain existing common share purchase warrants
("warrants"). One hundred percent of Group 1 warrant holders responded by
signing Warrant Amendment Agreements and Emgold has obtained TSX Venture
Exchange approval for the amendment of 11.8 million eligible warrants in this
Group. 


A total of 11.8 million warrants, the original exercise price of which was
US$0.35, have been re-priced at CDN$0.15 per share and been given a 12 month
extension. Those eligible warrant holders in Group 1 may now elect to exercise
an "Early Conversion Option" whereby they can convert their warrants to shares
at CDN$0.10 per share, if exercised by August 31st, 2012. 


Warrant holders were given until August 10, 2012 to return Warrant Amendment
Agreements to the Company if they wished to have their warrants re-priced and/or
extended, as applicable. One hundred percent of the Warrant Amendment Agreements
for Group 2, 3, and 4 warrant holders were not obtained and those warrants will
not be re-priced or extended. Group 5 Warrants were ineligible for amendment
pursuant to TSX Venture Exchange Policy. Any Warrant Amendment Agreements
completed for Group 2 through 5 warrant holders are now voided, and the terms of
the warrants are unchanged. 


About Emgold Mining Corporation

Emgold plans to complete an Environmental Impact Report ("EIR") for the
Idaho-Maryland Project in California, with a targeted completion date of 2013,
subject to financing. The Idaho-Maryland Mine produced 2.4 million ounces of
gold at an average recovered grade of 0.43 ounces per ton between 1862 and 1956.
Once the EIR is complete and permits are obtained, the Company plans to dewater
and rehabilitate the historic underground workings, conduct underground
exploration, and ultimately construct a high grade underground gold operation
capable of producing over 200,000 ounces of gold per year. 


Management believes the exploration target at Idaho-Maryland is 3 to 5 million
ounces of gold, subject to additional diamond drilling that will be completed
from underground once the mine is permitted and dewatered. Note that this target
is conceptual in nature, and there has been insufficient exploration to define a
mineral resource and it is uncertain if further exploration will result in any
further delineation of a mineral resource.  The target is based on projecting
historic production and current resources to a depth of 5,000 feet.


Emgold has several other early to mid stage exploration properties. These
include the Buckskin Rawhide and Koegel Rawhide gold properties in Nevada and
the Stewart and Rozan poly-metallic properties in British Columbia where it is
conducting exploration activities.


Note that technical information in this press release has been reviewed and
approved by Mr. Robert Pease, P.Geo., a Qualified Persons as defined in National
Instrument 43-101. Mr. Pease is responsible for supervising the technical work
related to the Idaho-Maryland Project. 


On behalf of the Board of Directors

David G. Watkinson, P.Eng., President & CEO

This release was prepared by the Company's management. For more information on
the Company, investors should review the Company's filings that are available at
www.sedar.com or the Company's website at www.emgold.com. This news release
includes certain statements that are "forward-looking statements" within the
meaning of applicable securities laws including statements regarding the
re-pricing and extension of the warrants, the timing of completion of the Final
EIR on the Idaho-Maryland Project, the Company's planned work programs,
exploration potential, expected results, and other statements. Forward-looking
statements are based on certain assumptions that the City of Grass Valley and
its consultants, which are funded by Emgold, will complete the EIR in a
reasonable timeframe, the City of Grass Valley will certify the EIR as complete,
and the City of Grass Valley will approve the Conditional Use Permit for the
mine and approve other entitlements under their authority. They assume other
permitting agencies overseeing the project on a local, state and federal level
will grant the permits needed for mining construction and operation. They assume
that actual results of exploration, development, and production activities are
consistent with management's expectations, that assumptions relating to mineral
resource estimates and exploration targets are accurate, and that necessary
financing is available to complete the required exploration work. They include
assumptions about production rates, production grades, and gold recoveries.
Although the Company 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 or developments may differ
materially from those in the forward-looking statements.

Factors that could cause actual results to differ materially from those in
forward-looking statements include the failure to obtain Exchange or warrant
holder approval for the re-pricing of one or more of the Groups, exploration
results that are different than those anticipated, inability to raise or
otherwise secure capital to fund planned permitting, exploration, mine
construction and development, and mine operations. Other risk factors include
changes in metal prices, the price of the Company's shares, the costs of labour,
the cost of equipment, the cost of supplies, actual development and mining
operation successes, exploitation and exploration successes, approvals by
federal, state, and local agencies, permitting delays, legal challenges to
permits, general economic, market or business conditions, and other factors
beyond the control of the Company. Investors are cautioned that any such
statements are not guarantees of future performance and actual results or
developments may differ materially from those projected in the forward-looking
statements. The Company does not intend to update or revise any forward-looking
information whether as to a result of new information, future events or
otherwise, except as required by law. 


U.S. 20-F Registration: 000-51411

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