Emgold Leases Its Buckskin Rawhide East Property, Nevada To Rawhide Mining LLC

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[{"type":"text","content":"Emgold Leases Its Buckskin Rawhide East Property, Nevada To Rawhide Mining LLC(via Thenewswire.ca)\n \n \nVancouver, BC / TNW-CCESSWIRE / August 21 2014 / Emgold Mining Corporation (\"Emgold\" or the \"Company\") is pleased to announce that it has leased its 100% owned Buckskin Rawhide East Property (the \"Property\") to Rawhide Mining LLC (\"RMC\"), a private mining company that owns and operates the adjacent Denton Rawhide Mine. RMC has agreed to conduct exploration activity on the Property with the goal of delineating gold and silver resources that, if exploration is successful, may ultimately be permitted, mined, and then processed using facilities at the Denton Rawhide Mine. \n\n \n \nAbout the Lease Agreement\n\n \n \nEmgold has agreed to lease the Property to RMC under the following general terms and conditions (the \"Lease\"):\n\n\n \n\n\n1.The term of the Lease is 20 years. \n\n\n\n2.Advance royalty payments will be $10,000 per year, paid by RMC to Emgold, with the first payment due at signing and subsequent payments due on the anniversary of the Lease Agreement. \n\n\n\n3.During the term of the Lease, RMC will make all underlying claim fees to keep the claims in good standing. \n\n\n\n4.RMC will conduct a minimum of US$250,000 in exploration activities by the end of Year 1. \n\n\n\n5.RMC will conduct an additional minimum of US$250,000 in exploration activities by the end of Year 3, for a total of US$500,000 in exploration activities by the end of Year 3. \n\n\n\n6.RMC will have the option of earning a 100% interest in the Property by bringing it into commercial production. \n\n\n\n7.Upon bringing the property into commercial production, RMC will make \"Bonus Payments\" to Emgold. Bonus Payments will be US$15 per ounce of gold when the price of gold ranges between US$1,200 per ounce and US$1,799 per ounce. If the price of gold exceeds US$1,800 per ounce, the Bonus Payment will increase to US$20 per ounce \n\n\n\n8.After meeting its exploration requirements, should RMC subsequently elect to drop the Property or decide not to advance it, the Property will be returned to Emgold. Should Emgold subsequently advance the Property into production, RMC shall then be entitled to the same type of Bonus Payments as contemplated in 7 above. \n\n\n\n\n \nThe effective date of the Lease is June 1, 2013. Further to the Company's news ...

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