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Emgold Mining completes the acquisition of East-West and Trecession properties in Quebec

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To close these acquisitions, under the Canadian Bankruptcy and Insolvency Act, Emgold Mining paid the Trustee $160,000 with operating loans totaling $110,000 previously advanced to Knick also considered part of the acquisition cost of these two properties.

Additional Information:

Company: Emgold Mining Corporation
Website: http://www.emgold.com
Stock Symbol: TSXV: EMR
Date Published: Sep 27, 2021
Transcript: Available

Video Transcript:

I’m Cassandra Bolinski for Investmentpitch Media

Emgold Mining Corporation has completed the acquisition of two properties from Knick Exploration.

Emgold acquired the balance of 50% of the East-West Property, and 100% of the Trecesson Property, both located in Quebec.

To close these acquisitions, under the Canadian Bankruptcy and Insolvency Act, Emgold paid the Trustee $160,000 with operating loans totaling $110,000 previously advanced to Knick also considered part of the acquisition cost of these two properties.

David Watkinson, P.Eng., President, stated: "We are extremely excited with these acquisitions, especially the consolidation of ownership of the East-West Property. East-West is in the Marbenite shear deformation corridor running through the Val d'Or Mining Camp, with the operating Kiena Mine to the east and the advanced stage Marlaric Property to the west. Trecesson is just to the north of Val d'Or. Both properties were drilled by Knick and previous owners have shown significant high grade gold intercepts."

The 184-hectare East-West Property is located in the Val d'Or Mining Camp on trend, west of, and adjacent to Wesdome Gold Mines Ltd.'s (TSX:WDO) Kiena Complex Property, which hosts the producing Kiena Mine.

The Kiena Complex produced more than 2.8 million ounces of gold from 1981 to 2013 and has a permitted 2,000 tonne per day milling and refining complex.

Wesdome recently announced a positive prefeasibility study prepared for its Kiena Mine Complex Project.

It is also on trend, east of, and adjacent to O3 Mining Inc.'s (TSXV:OIII) Malarctic Property, which contains three past producing Mines.

These mines produced more than 590,000 ounces of gold.

O3 Mining announced a positive Preliminary Economic Assessment for is Marban Project, which is part of the Malarctic Property

Historic drilling done on the property prior to Knick's ownership included 181 drill holes totaling 40,192 metres.

This table shows selected significant drill intercepts, from the East-West Property, that were greater than 10.0 grams per tonne gold with lengths greater than 1.0 metre from historic drilling between 1984 and 1987, prior to Knick's ownership.

This table shows selected significant drill intercepts, from the same time, but showing intercepts greater than 0.5 grams per tonne gold with lengths greater than 3.0 metres.

Management cautions that no mineral resources or mining reserves have yet been defined on the East-West Property and true widths of intervals are unknown and the drilling results have not been verified by a qualified person and should be treated as historic information.

Knick acquired the East-West Property in 2007 and subsequently conducted three drilling programs, which totaled 100 holes totaling 19,728 metres, averaging approximately 197 metres per hole.

This table shows selected significant drill intercepts from 2009, 2011, 2016 and 2017, that were greater than 10.0 grams per tonne gold with lengths greater than 1.0 metre.

The Trecesson Property, located approximately 10 km northwest of Amos, Quebec, contains the Cossette Gold System with two main exploration targets identified to date along that system, the South Cossette and North Cossette Targets.

Knick conducted two drill programs, one in 2011 and one in 2017, which totaled 154 holes totaling 6,678 metres, averaging approximately 43 metres per hole.



This table shows selected significant drill intercepts greater than 10 grams per tonne and 1 metre in width.

Emgold, a gold and base metal exploration company, is focused on Nevada and Quebec.

In Nevada, Emgold's Golden Arrow Property, the core asset of the Company, is an advanced stage gold and silver property with a well-defined measured and indicated resource.

The shares are trading at $0.05.

For more information about the company and its many other projects, please visit the company’s website, www.emgold.com, contact David G. Watkinson, P.Eng., President and CEO, at 530-271-0679 ext 101, or email info@emgold.com.

I’m Cassandra Bolinski for Investmentpitch Media