Emgold Expands the New York Canyon Property, Nv
EMGOLD MINING CORPORATION
Suite 1015 – 789 West Pender Street
Vancouver, B.C. V6C 1H2
www.emgold.com
November 15, 2019 TSX Venture Exchange : EMR
OTC : EGMCF
Frankfurt Exchange : EMLM
EMGOLD EXPANDS THE
NEW YORK CANYON PROPERTY, NV
Vancouver, British Columbia - Emgold Mining Corporation (TSXV: EMR) (“Emgold” or the
“Company”) announces it has staked 92 additional claims , expanding the size of its recently optioned
New York Canyon Property (the “Property”). Emgold now controls 152 unpatented and 21 patented
mineral claims located in the Santa Fe Mining District, Mineral County , in west -central Nevada . The
Property is located about 30 mi. southeast of Hawthorne, Nevada.
As announced by press release o n July 16, 201 9, Emgold signed an option agreement to acquire a 100%
interest in the Property from Searchlight Resources Inc. ( TSXV: SCLT) (“Searchlight”). The
acquisition includes a significant database of historic information . To date, 234 holes have been drilled
on the Property by past operators, totalling 139,056 feet. Three main exploration targets , identified with
historic drilling, include the Longshot Ridge, Champion, and Copper Queen areas . These targets host
copper oxide skarn and sulfide porphyry style copper/molybdenum mineralization.
A 2010 Technical Report completed by Searchlight identified a resource for the Longshot Ridge deposit,
which Emgold is treating as a historic resource .(1) A second historic resource was also identified by
Conoco, a past operator, for the Copper Queen deposit , in the late 1970’s. (2) Details o f these historic
resources and the option agreement were disclosed by Emgold in a May 28, 2 019 press release available
under the Company’s filings at www.sedar.com or on the Company’s website at www.emgold.com.
Emgold is in the process of inventorying and organizing historic information on the Property that it
acquired from Searchlight and other sources. Much of this data is in paper format and the Company is in
the process of scanning this information and converting it to a digital format. Emgold’s geologists will
subsequently organize and analyze the historic data an input it into computer databases for analysis using
modern geological software programs. They will then develop a new exploration model and exploration
plan for the Property. Given the volume of information, it is expected the above work will take a number
of months to complete.
Qualified Person
Robert Pease, C.P.G., a qualified person under the NI 43 -101 instrument, has reviewed and approved the
technical content of this press release.
About Emgold
Emgold is a junior gold and base metal exploration company focused on Nevada and Quebec , the #1 and
#4 jurisdictions for mining investment according to the Fraser Institute’s Annual Survey of Mining
Companies, 2018. The Company’s strategy is to look for quality acquisitions, add value to these assets
through exploration, and monetize them through sale, joint ventures, option, royalty, and other
transactions to create value for our shareholders. Our p roperties include the Golden Arrow, New York
Canyon, Buckskin Rawhide East, Buckskin Rawhide West, and Koegel Rawhide Properties in Nevada
and the Casa South Property in Quebec.
- 2 -
The Casa South Property is adjacent to Hecla Mining Corporation’s (NYSE: HL) operating Casa Berardi
Mine. Emgold has a strategic share investment in Troilus Gold Corporation ( TSX: TLG ) which is
advancing the Troilus Gold Project in Quebec. As announced by press release on May 21, 2019, Emgold
is also in the process of acquirin g the Mindora Property in Nevada . For more information on the
Company, investors should review the Company's website at www.emgold.com or view the Company’s
filings available at www.sedar.com.
Footnotes:
(1) Technical Report on the New York Canyon Copper Project, Nevada U.S.A., Broil i, Klohn, and Giroux, April 6, 2010. The
authors defined an indicated resource of 16.3 million tons (14.8 million tonnes) of 0.43% Cu and an inferred resource of 2.9
million tons (2.6 million tonnes) of 0.31% Cu in the Longshot Ridge copper oxide skarn area . A cut-off grade of 0.20% Cu
was used. This mineral resource estimate is considered historical as defined by NI 43 -101 Standards of Disclosure and a
qualified person has not audited or verified this resource as a current mineral resource. A qualified person has not done
sufficient work to classify the historical estimate as current mineral resources according to CIM standards. The Company is
not treating the historical estimate as a current mineral resource estimate.
(2) Conoco reported a 142 million tons (129 million tonnes) inferred resource grading 0.35% copp er, 0.015% molybdenum,
0.1% Zn, 4 ppm Ag, and 0.1 ppm Au for the Copper Queen deposit in the internal report dated May 10, 1979 . This is
historical resource estimate was prepared prior to the implementation of NI 43-101 and uses terminology not compliant with
current reporting standards. A qualified person has not audited or verified th is historical estimate nor made any attempt to
re-classify the estimate according to current NI 43-101 Standards of Disclosure or the CIM standards.
On behalf of the Board of Directors
David G. Watkinson, P.Eng.
President & CEO
For further information, please contact:
David G. Watkinson, P.Eng.
Tel: 530-271-0679 Ext 101
Email: [email protected]
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.
Cautionary Note on Forward-Looking Statements
Certain statements made and information contained herein may constitute “forward looking information” and “forward looking
statements” within the meaning of applicable Canadian and United States securities legislation. These statements and information
are ba sed on facts currently available to the Company and there is no assurance that actual results will meet management’s
expectations. Forward-looking statements and information may be identified by such terms as “anticipates”, “believes”,
“targets”, “estimat es”, “plans”, “expects”, “may”, “will”, “could” or “would”. Forward-looking statements and information
contained herein are based on certain factors and assumptions regarding, among other things, the estimation of mineral resour ces
and reserves, the realization of resource and reserve estimates, metal prices, taxation, the estimation, timing and amount of future
exploration and development, capital and operating costs, the availability of financing, the receipt of regulatory approvals,
environmental risks, title disputes and other matters. While the Company considers its assumptions to be reasonable as of the date
hereof, forward-looking statements and information are not guarantees of future performance and readers should not place undue
importance on such statements as actual events and results may differ materially from those described herein. The Company does
not undertake to update any forward -looking statements or information except as may be required by applicable securities laws.
The Company's Canadi an public disclosure filings may be accessed via www.sedar.com and readers are urged to review these
materials, including any technical reports filed with respect to the Company's mineral properties.