Emgold Mining Corporation (EMR: TSX-V) ("Emgold" or the "Company") is pleased to announce that it has raised US$450,000 through the sale of 18 acres of land located in Nevada County, California. The sale decreases the land package owned by the Company related to the Idaho-Maryland Project from about 52 acres to 34 acres. The land sold is not required for the potential development of the Idaho-Maryland Project and was purchased by an adjacent property owner. Proceeds of the transaction will be used for general working capital.
David Watkinson, President of Emgold stated, "The proceeds from this sale provides financing for the Company in a tough equity market and is non-dilutive to our shareholders."
About Emgold Mining Corporation
Emgold is a junior gold exploration and project development company that has several exploration properties located in the western U.S. and Canada. These include the Buckskin Rawhide East and West and Koegel Rawhide gold properties in Nevada, and the Stewart and Rozan poly-metallic properties in British Columbia.
On behalf of the Board of Directors
David G. Watkinson, P.Eng.
President & CEO
For further information please contact:
This release was prepared by the Company's management. Neither TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. 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.
Statements with respect to the use of proceeds of the disposition may be "forward-looking statements" within the meaning of applicable securities laws. 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 or that may be inferred from the forward-looking statements. 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 a result of new information, future events or otherwise, except as required by law.
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