EMR Emergent Metals Corp

Emgold Mining Corporation (the "Company" or "Emgold") (TSX
VENTURE:EMR)(OTCQB:EGMCF)(FRANKFURT:EML) provides the following update on its
exploration and development properties and its recently announced private
placement: 


Idaho-Maryland Project, CA

Further to the Company's October 26, 2011 and September 7, 2012 press releases,
permitting activities associated with the Idaho-Maryland Project (the "Project")
remain on hold pending the resurgence of the junior mining equity markets.
Emgold reiterates what it stated in its past press releases that, despite the
current price of gold, financing for projects in the junior mining sector is
extremely difficult. In the event that insufficient funds can be raised to move
the Project forward, Emgold will continue to delay the Project until market
conditions improve or, as a worst case, drop it to focus on the other assets the
Company currently has in its portfolio.


The current extension of the Lease and Option to Purchase Agreement (the "BET
Agreement") expires today. The BET Agreement, signed in 2002, originally had a
five year term. It has been extended three times to date, in two year
increments, with the last extension taking effect on February 1, 2011. Emgold is
currently in negotiations with the BET Trust to extend the agreement, which
covers the lease and option to purchase of approximately 2,750 acres of mineral
rights and 91 acres of surface rights associated with the Project. If
negotiations to extend the BET Agreement are unsuccessful, Emgold will terminate
the Project and focus on the other assets the Company currently has in its
portfolio. 


Stewart and Rozan Properties, BC

Emgold completed a diamond drilling program on the Stewart Property in late
2012. The drill program totaled 1,447 metres of drilling in 11 drill holes
spread over the Free Silver, Stewart Creek and Stewart Moly target areas. Core
samples taken from that program are currently being processed at Acme Labs in
Vancouver, with all results expected in the next few weeks.


As announced in its January 28, 2012 press release, Emgold successfully
completed its 2012 exploration program at its Rozan Property in 2012, totaling
1,495 metres of drilling in 15 drill holes focusing on the Main, Sheeted Vein,
and West Vein Zones.


The two exploration programs on the Stewart and Rozan Properties completed
Emgold's flow-through expenditure requirements for 2012. Assessment reports and
assessment work filings will be made with the B.C. Ministry of Energy and Mines
in the first quarter of 2013, keeping these properties in good standing. 


Buckskin Rawhide East and West Properties, NV

Emgold is in the process of acquiring the Buckskin Rawhide East Property from
two underlying owners, as announced in recent press releases (November 14, 19,
and 26, 2012; December 28, 2012; and January 30, 2013). This acquisition is
being funded by a series of three private placements by Rawhide Mining LLC
("RMC"), which operates the adjacent Denton Rawhide Mine. 


Emgold understands that RMC is also in the process of acquiring the Regent
Property from Pilot Gold Corporation. The Buckskin Rawhide East Property is
surrounded by the Denton Rawhide Mine on the east and south and by the Regent
Property on the west and north. 


Emgold announces it has made its 2013 advance royalty payment to the underlying
claimholder of the Buckskin Rawhide West Property, as per a Lease and Option to
Purchase Agreement dated January 24, 2012, by issuing 125,000 shares at CDN
$0.08 per share, representing the US$10,000 payment. This property is adjacent
to and west of the Regent Property. 


Koegel Rawhide Property, NV

Emgold announces it has made its 2013 advance royalty payment to the underlying
claimholder, as per a Lease and Option to Purchase Agreement dated January 24,
2012, by issuing 111,000 shares at CDN $0.09 per share, representing a US$10,000
payment. This property is approximately three miles south of the Denton Rawhide
Mine.


Closing of Private Placement

Emgold is pleased to announce it has closed a previously announced private
placement (see January 30, 2013 press release) for gross proceeds of CDN
$285,000. The private placement involved the issuance of 5,700,000 units
("Units") to RMC at a price of CDN$0.05 per Unit. Each Unit consists of one
common share (a "Share") of the Company and one half of one non-transferable
share purchase warrant. Each full warrant entitles RMC to purchase, for a period
of 24 months, one additional Share at a price of CDN$0.12. The Shares are
subject to a minimum hold period of four months plus one day, expiring June 2,
2013. No finder's fees were paid as part of this private placement. 


The proceeds of the private placement will be used for fees associated with the
Buckskin Rawhide East Property transactions, exploration of Emgold's Nevada and
B.C. properties, and for general working capital. 


The securities issued pursuant to the private placement have not been and will
not be registered under the U.S. Securities Act of 1933 and may not be offered
or sold in the United States absent registration or an applicable exemption from
registration.


Qualified Person

Technical information in this press release related to Canadian properties has
been reviewed and approved by Mr. Perry Grunenberg, P.Geo., a Qualified Person
as defined in National Instrument 43-101. Mr. Grunenberg supervises technical
work related to Emgold's Canadian properties. Similarly, technical information
in this press release related to U.S. properties has been reviewed and approved
by Mr. Robert Pease, P.Geo., a Qualified Person as defined in National
Instrument 43-101. Mr. Pease is responsible for supervising the technical work
related to Emgold's U.S. Properties. 


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 use of
proceeds of the financing and the statement of Emgold's understanding as to the
possible acquisition of the Regent Property by RMC (see Pilot Gold Corporations
news release dated January 10, 2013). They assume that no other matters arise
that require a diversion of funds from the anticipated use. 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 legal
impediments to the transfer of title to the Buckskin Rawhide East property to
the Company, which could prevent the property transfer from proceeding in the
time period anticipated or at all, and the failure of RMC to acquire the Regent
property, which is outside the control of Emgold and as to which it has very
limited knowledge. 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. Whether RMC acquires the Regent property is out of Emgold's control, and
Emgold disclaims any responsibility with respect thereto.


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

FOR FURTHER INFORMATION PLEASE CONTACT: 
Emgold Mining Corporation
David G. Watkinson, P.Eng.
President & CEO
778-375-3106
info@emgold.com
www.emgold.com

Emergent Metals (TSXV:EMR)
Historical Stock Chart
From May 2024 to Jun 2024

Emergent Metals (TSXV:EMR)
Historical Stock Chart
From Jun 2023 to Jun 2024