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Emgold Mining Corp

Publié le 22 octobre 2007

Completes $8 Million Private Placement Financing

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Monday, October 22, 2007

TSX Venture Exchange: EMR
OTC Bulletin Board: EGMCF
Frankfurt Stock Exchange: EML
U.S. 20-F Registration: 000-51411

Emgold Completes $8 Million Private Placement Financing

NOT FOR DISTRIBUTION IN THE U.S.


Emgold Mining Corporation (EMR - TSX Venture) (the "Company" or "Emgold") is pleased to announce it has completed its previously announced non-brokered private placement offering (the "Offering"), which was fully subscribed and raised gross proceeds of $8,000,326. A total of 72,730,236 units (the "Units") were issued at a price of $0.11 per Unit. Closing of the final tranche of the Offering occurred on Friday, October 12, 2007.

Sargent Berner and Kenneth Yurichuk, co-executive chairmen of Emgold, commented:
    "We very much appreciate the support provided not only by our previous shareholders, but also by investors new to Emgold through this financing. Emgold now has in hand all of the funding that should be required to complete the permitting process for the Company's Idaho-Maryland Gold Mine in Grass Valley, California. Emgold remains committed as its first priority in the coming year to obtaining all of the permits necessary to re-open and operate the Idaho-Maryland and is presently anticipating that the Environmental Impact Report will be completed by July 2008 and the Conditional Mine Use Permit will follow within 60 days. The present financing should also allow us to deal with unanticipated delays in the process, should they occur. We are confident that obtaining the conditional mine use permit ultimately will allow Emgold and our shareholders to realize the value of the known gold resource present at Idaho-Maryland."
Each Unit in the Offering was comprised of one fully paid and non-assessable common share of the Company (a "Common Share") and one transferable common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to subscribe for one additional previously unissued common share (a "Warrant Share") in the capital of the Company for a period of 24 months following the date of issue at an exercise price of $0.15 per Warrant Share.

Emgold paid finder's fees to eligible finders (the "Finders") in the form of cash in the sum of $547,998, equal to 8% of the proceeds raised by such Finders, and 4,981,803 non-transferable options (the "Finder's Options"), equal to 8% of number of Units sold by such Finders. Each of the Finder's Options is exercisable to acquire a Unit of the Company (the "Finder's Units") at a price of $0.11 per Finder's Unit for a period of 18 months from the date of issuance, subject to adjustment. Each Finder's Unit will be comprised of one common share of the Company and one non-transferable common share purchase warrant of the Company exercisable to acquire one additional common share of the Company for a period of 24 months from the date of issuance of the Finder's Option at a price of $0.15.

This Offering closed in four tranches. All securities issued or issuable in connection with the Offering will be subject to a hold period and may not be traded for four months plus one day from the date of each closing, being January 28, 2008, February 6, 2008 and February 13, 2008, as applicable.

The directors and certain of the officers of the Company subscribed to the Offering. Due to this relationship, the portion of the Offering subscribed for by the directors and officers is considered to be a "related party transaction" as defined under TSX Venture Exchange Policy 5.9 -- Insider Bids, Issuer Bids, Going Private Transactions and Related Party Transactions ("Policy 5.9") and Ontario Securities Commission Rule 61-501 (the "OSC Rule"). However, the Offering is exempt from the valuation requirements of Policy 5.9 and the OSC Rule for related party transactions as its securities are solely listed on the TSX Venture Exchange. The Offering is exempt from the minority approval requirements of Policy 5.9 and the OSC Rule for related party transactions as on the basis that the fair market value of the Units of the Company issued to the directors and officers represents less than 25% of the Company's current market capitalization.

The securities offered have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an available exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

The proceeds of the Offering will be used to cover remaining costs associated with the Company's permitting application for the Idaho-Maryland Gold Mine and for working capital.

For more information about Emgold, the Idaho-Maryland Project in Grass Valley, California and the Stewart, Rozan and Jazz Properties in British Columbia, please visit www.emgold.com or www.sedar.com.


On behalf of the Board of Directors,

Sargent H. Berner

Co-Executive Chairman

For further information please contact:
Michael O'Connor, Manager, Investor Relations
Tel: (604) 687-4622 Fax: (604) 687-4212
Email: info@emgold.com

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. 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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Emgold Mining Corp

PRODUCTEUR
CODE : EMR.V
ISIN : CA2909283087
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Emgold Mining est une société développant des projet miniers d'or basée au Canada.

Emgold Mining détient divers projets d'exploration au Canada.

Ses principaux projets en production sont IDAHO-MARYLAND en USA et ROZAN au Canada et ses principaux projets en exploration sont JAZZ, STEWART et BUCKSKIN RAWHIDE au Canada.

Emgold Mining est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 4,8 millions CA$ (3,5 millions US$, 3,2 millions €).

La valeur de son action a atteint son plus haut niveau récent le 12 mai 2006 à 9,90 CA$, et son plus bas niveau récent le 01 janvier 2016 à 0,01 CA$.

Emgold Mining possède 79 710 000 actions en circulation.

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Financements de Emgold Mining Corp
01/02/2013Provides Properties Update and Closes CDN $285,000 Private P...
07/04/2010Closes First Tranche Of Private Placement Financing
22/10/2007Completes $8 Million Private Placement Financing
09/06/2007Announces $10,000,000 Brokered Private Placement
Attributions d'options de Emgold Mining Corp
08/05/2012Grants Options Moves To OTCQB Status
Nominations de Emgold Mining Corp
21/08/2013Announces Change In Directors
11/05/2010Appoints New Chief Executive Officer
07/04/2008 Announces The Appointment Of Chief Financial Officer
01/11/2007Announces The Appointment Of President And Chief Operating O...
Projets de Emgold Mining Corp
17/06/2013(Buckskin Rawhide)Drilling to Commence on Emgold's Buckskin Rawhide East Prope...
08/04/2013(Stewart)Discovers New Gold Zone at its Stewart Property, B.C.
07/09/2012(Idaho-maryland)Idaho-Maryland Project Update
28/08/2012(Rozan)Commences 2012 Exploration Program Rozan Property, B.C.
15/02/2012Doubles Size of its Koegel Rawhide Gold-Silver Property, Nev...
06/02/2012(Buckskin Rawhide)Completes Acquisition and Expands its Buckskin Rawhide Gold ...
01/02/2012(Stewart)Announces Successful Results from its 2011 Core Drilling Pro...
30/01/2012(Buckskin Rawhide)s Gold Exploration Activities at its Buckskin Rawhide Proper...
25/01/2012(Rozan)Announces Successful Results 2011 Exploration Program Rozan ...
16/06/2011(Idaho-maryland)Advances Idaho-Maryland Gold Mine Permitting
11/04/2011(Idaho-maryland)Moves Forward with Idaho-Maryland Project Permitting
11/04/2011(Buckskin Rawhide)Expands Claim Position at its Buckskin Rawhide Gold-Silver P...
25/03/2011(Stewart)Announces Upcoming 2011 Field Exploration and Drilling Progr...
09/03/2011(Idaho-maryland)Announces Idaho-Maryland Project Update
12/01/2011(Buckskin Rawhide)Finds High Grade Gold at its Buckskin Rawhide Property, Neva...
23/07/2010(Idaho-maryland)Extends Lease And Option To Purchase Agreement For The Idaho...
07/01/2008(Idaho-maryland Mine)Achieves Important Milestone In Gold Mine Permit Application
16/11/2007(Stewart Property) Discovers Additional Tungsten Mineralization In Trenches At...
26/06/2007Achieves Important Permitting Milestone For Idaho-Maryland M...
Communiqués de Presse de Emgold Mining Corp
29/11/2013Announces Annual General Meeting and Special Meeting Results
04/09/2013Raises US$450,000 Through Real Estate Transaction
30/01/2013(Buckskin Rawhide)Announces Non-Brokered Private Placement Provides Update on ...
28/01/2013(Rozan)Intersects Gold at its Rozan Property, B.C.
10/09/2012Warrants Exercised
17/08/2012Completes Re-Pricing and Extension of Warrants
18/07/2012to Re-Price and Extend Existing Warrants Offers Early Conver...
01/05/2012Retains Vanguard Shareholder Solutions for Investor Relation...
28/03/2012Identifies Gold Target at its Koegel Rawhide Gold-Silver Pro...
27/02/2012Finds High Grade Gold at its Recently Acquired Koegel Rawhid...
20/04/2011(Buckskin Rawhide)Finds More High Grade Gold And Silver at its Buckskin Rawhid...
07/08/2010Converts Series A Preference Shares And Accrued Dividends To...
23/09/2009Annual And Special Meeting
29/09/2008Presents The Idaho-Maryland Project Overview
21/09/2008Shareholder Update
06/02/2008 Receives Recent Coverage By Smartstox.Com
28/11/2007Completes Drilling On Its Molybdenum, Tungsten And Gold Prop...
01/08/2007Takes New Direction
11/04/2007Additional Exploration Targets At Idaho-Maryland Gold Mine
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