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Sunday,
September 21, 2008
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TSX Venture Exchange: EMR
OTC Bulletin Board: EGMCF
Frankfurt Stock Exchange: EML
U.S. 20-F Registration: 000-51411
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Emgold Mining Corporation Shareholder
Update
Emgold Mining Corporation (EMR -
TSX Venture Exchange) (the "Company" or "Emgold") is
pleased to provide its shareholders with the following update:
Idaho-Maryland Project
The City of Grass Valley, California (the "City") is nearing
completion of the Draft Environmental Impact Report ("DEIR") for
the Idaho-Maryland Gold Mine Project (the "Project") which is
expected to be published in late September or early October of 2008. Delays
in the issuance of the DEIR relate to additional scope items being completed
by the City and its consultants, Environmental Science Associates
("ESA"). These items were identified during four public workshops
held by the City as part of the California Environmental Quality Act
("CEQA") process. The City and ESA are ensuring that all public
concerns are identified and addressed in the CEQA process prior to
releasing the DEIR.
The Company's wholly-owned subsidiary, Idaho-Maryland Mining Corporation
("IMMC") is preparing applications for several major operating
permits. These permits include the U.S. Army Corps of Engineers 404
(Wetlands) Permit, the National Pollution Discharge Elimination System
Discharge Permit under the jurisdiction of the California Regional Water
Quality Control Board, a Voluntary Clean-Up Agreement for the historic
Idaho-Maryland site with the California Department of Toxic Substance
Control, and Mine Waste Discharge Requirements under the jurisdiction of
the California Regional Water Quality Control Board.
IMMC is also preparing a computerized resource model using MineSight�
software. Recent work has consisted of scanning of all historic geological
maps for the model and currently IMMC's Chief Geologist, Robert Pease, is
modeling the mineralized zones based on these geologic maps and over 40,000
historical assays. IMMC has retained AMEC, a leading provider of services
and engineering solutions to the world's infrastructure, manufacturing and
process industries, to assist in completing a new NI-43-101 compliant
resource estimate. This work is expected to take several more months to
complete.
IMMC is developing mine planning, scheduling, and cost estimates to
evaluate various scenarios for dewatering, exploration, and redevelopment
of the Idaho-Maryland Mine. Upon completion of the Final Environmental
Impact Report ("FEIR") and the new resource model, IMMC plans to
complete an updated Scoping Study on the Project.
IMMC's community relations program continued this summer in the City with
staff attending many events including the Grass Valley Thursday Night Markets,
the Nevada County Fair, the 113th Miner's Picnic, etc. to answer questions
from the public about the Project. IMMC was honoured to have taken on the
role as Grand Champion Sponsor for the annual Nevada County Fair, which was
attended by approximately 87,000 people in 2008. IMMC hopes to continue
this as a long term role in the future as the Project moves into operation,
recognizing the importance of the Fair to the residents of Nevada County.
IMMC was pleased to assist the Economic Resource Council, Grass Valley
Downtown Business Association, and Grass Valley/Nevada City Chambers of
Commerce in putting together a display for Nevada County at the California
State Fair. The display included a replica of the Idaho-Maryland
head-frame. The 2008 State Fair was attended by approximately 790,000
people and Nevada County was awarded a Bronze Ribbon for its display.
It is expected that the FEIR will be certified near the end of 2008. Upon
approval of the Project by the Planning Commission and City's Council a Conditional
Mine Use Permit will be issued for the Project. At that time a Development
Agreement will also be completed between IMMC and the City. These approvals
are expected in the first half of 2009.
Golden Bear Ceramics Company
Emgold continues to consider opportunities to independently finance its
other wholly-owned subsidiary, Golden Bear Ceramics Company (the
"GBC") and discussions are ongoing with a variety of interested
parties. GBC has filed for several U.S. and international patents to
protect the Ceramext� technology and patent work is proceeding without
issue. Representatives of GBC were recently invited to and attended the
Green Technologies Exposition as part of the XXVI Annual Border Governor's
Conference in California. The conference is attended by the 10 border
governors along the U.S. and Mexico border, representing the third largest
economy in the world. The Green Technology Exposition consisted of displays
by 70 companies presenting innovative green technologies, highlighting the
conference theme of "Building Green Economies". The conference
was hosted by California Governor, Arnold Schwartzenegger (see http://gov.ca.gov/press-release/10382
).
B.C. Properties
In August 2008, Emgold completed its commitment to exercise its option to
acquire a 100% interest in and to the mineral rights to the Stewart
Property, located in the Nelson Mining Division of southeastern B.C. The
Stewart Property is in a region characterized by historic mining activity
and has been subject to exploration by a variety of companies including
Emgold over the last 100 years looking for gold, copper, tungsten,
molybdenum, and other minerals. Shell Canada defined a non-NI 43-101
compliant resource of 204,125 metric tones grading 0.370% MoS2 in 1981.
Molybdenum mineralization appears to exist in breccia pipes.
In March 2004, Emgold entered into an option agreement to acquire a 100%
interest in the 600-hectare Jazz Property consisting of twenty-four mineral
claims contiguous to the Stewart Property. Several areas of interest have
been identified to date on the Stewart/Jazz properties through exploration
activities including the Stewart Moly Zone, the Free Silver Zone, the Arrow
Tungsten Zone, and the Craigtown Creek Area.
In April 2006, Emgold completed its commitment and exercised its option to
acquire a 100% interest in and to the mineral rights to the Rozan Gold
Property, located in the Nelson Mining Division of southeastern B.C. The
Rozan Gold Property is located west and adjacent to the Gold Mountain Zone
gold discovery on the Kena Gold Property held by Sultan Minerals Inc.
Sultan Minerals Inc. has published a NI 43-101 compliant technical report
(authored by Gary Giroux, P.Geo. and Linda Dandy, P.Geo.; filed via SEDAR
June 16, 2004) on its Kena Gold Property outlining measured and indicated
resources of 381,000 ounces and inferred resources of 389,000 ounces of
gold. Emgold has conducted several early stage exploration programs on the
Rozan Gold Property including geochemical, geophysical, and drill
evaluations. Emgold believes the Rozan Gold Property hosts high grade gold
in individual quartz veins as well as low grade gold in stockwork quartz
vein systems.
Summary reports have been recently completed on these properties and Emgold
is seeking joint venture or other opportunities to advance them.
For more information about Emgold, the Idaho-Maryland Gold Mine Project,
Golden Bear Ceramics Company and the Stewart/Jazz and Rozan properties in
British Columbia, please visit www.emgold.com or www.sedar.com
On behalf of the Board of Directors
David Watkinson, P. Eng.
President, COO and Director
For further information please contact:
Jeffery Stuart, Manager of Business Development and Investor Relations
Tel: (604) 687-4622 or 1-888-267-1400 ext. 248 Email: info@emgold.com
No regulatory authority has approved or disapproved
the information contained in this news release.
This news release includes certain statements that
may be deemed "forward-looking statements". All statements in
this release, other than statements of historical facts, that address
future production, reserve potential, exploration drilling, exploitation activities
and events or developments that the Company expects are forward-looking
statements. 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 market prices, exploitation
and exploration successes, and continued availability of capital and
financing, and general economic, market or business conditions. Investors
are cautioned that any such statements are not guarantees of future
performance and that actual results or developments may differ materially
from those projected in the forward-looking statements. 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
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