Emgold Completes Assignment Agreement for the Troilus North Property, QC, Mineral Claims Transferred into Emgold's Name

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[{"type":"text","content":"Emgold Completes Assignment Agreement for the Troilus North Property, QC, Mineral Claims Transferred into Emgold's Name(via TheNewswire)\n\n \nVancouver, British Columbia / TheNewswire / October 24, 2018 - Emgold Mining Corporation (TSX-V: EMR) (OTC: EGMCF) (Frankfurt Exchange: EMLN) (\"Emgold\" or the \"Company\") announces that it has completed an Assignment Agreement (the \"Assignment Agreement\") with Chimata Gold Corporation (CSE: CAT) (\"Chimata\") and Greg Exploration et al (collectively the \"Vendors\") related to Emgold's option to acquire a 100% interest in the Troilus North Property, QC (the \"Property\"). The Assignment Agreement was required as part of the definitive option, earn-in, and joint venture agreement previously entered between Emgold and Chimata and announced by press release on June 27, 2018.\n\n\n \nThe Assignment Agreement assigns to Emgold the underlying right of Chimata to acquire a 100% interest in the Property by making certain payments, totaling C$200,000, to the Vendors over an 18 month period. The Assignment Agreement further grants Emgold the option of accelerating such outstanding payments by paying the Vendors a one lump sum payment of $175,000 (resulting in a savings of $25,000 for Emgold). \n\n\n \nEmgold has then elected to exercise the aforementioned option and has made the $175,000 payment to the Vendors. In return, the Vendors have now completed the transfer and registration of the 209 claims that currently make up the Property into Emgold's name. The Vendors retain a 1.5% Net Smelter Royalty (the \"NSR\") on the Property and the Assignment Agreement allows Emgold to purchase 0.5% of this NSR, at any time, for $500,000.\n\n\n \nAbout Emgold\n\n\n \nEmgold is a junior gold exploration and mine development company with several exploration properties located in the Quebec, Nevada, and British Columbia. These include the Troilus North property in Quebec (under option), the Golden Arrow, Buckskin Rawhide East, Buckskin Rawhide West, and Koegel Rawhide properties in Nevada, and the Stewart and Rozan properties located in British Columbia. \n\n \n \nOn behalf of the Board of Directors\n\n\n \nDavid G. Watkinson, P.Eng.\nPresident & CEO\n\nFor further information please contact:\n\n\n \nDavid G. Watkinson, P.Eng.\nTel: 530-271-0679 Ext 101\nEmail: [email protected]\n\n \n \nThis release was p...

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