Business
Emgold Mining Corporation takes new direction
Emgold Mining Corporation takes new direction.
About this update from Emergent Metals Corp
[{"type":"text","content":"\n\n\n\nTSX Venture Exchange: EMR\n\n\nOTC Bulletin Board: EGMCF\n\n\nU.S. 20-F Registration: 000-51411\n\n\nFrankfurt Stock Exchange: EML\n\n\nVANCOUVER, Aug. 1 /CNW/ - Emgold Mining Corporation ("Emgold") (EMR -\nTSX.V) announces a number of initiatives designed to reinforce its commitment\nto the permitting, exploration and development of its Idaho-Maryland Project\nin Grass Valley, California (the "IMM"), historically the second largest\nunderground gold mine in California and presently one of the largest gold\nexploration targets in North America. The Company's goal is to complete the\nEnvironmental Impact Review for the IMM and obtain the required Conditional\nUse Permit by mid-2008.\n\n\nThe Company will also pursue the ongoing exploration of its three\nprospective gold exploration projects near the community of Nelson in\nsoutheastern British Columbia and the acquisition of other mineral properties\nof merit. A total of CDN $850,000 has been committed for expenditure on the\nBritish Columbia properties in 2007.\n\n\nIn connection with the spin-off of the Company's wholly-owned subsidiary\nGolden Bear Ceramics Company ("Golden Bear"), Emgold has curtailed further\nexpenditures on the development of the Ceramext(TM) process, other than those\nrequired to preserve the Company's investment. As well, Emgold has reduced its\noverhead and administrative expenses by eliminating costs not considered\nessential to its ongoing permitting and exploration activities.\n\n\nKenneth Yurichuk, the newly-appointed Co-Chairman of Emgold commented:\n"With the restructuring described below, we have reaffirmed and revitalized\nEmgold's focus on permitting the Idaho-Maryland mining operation. We also are\npleased to have the commitment of Bill Witte and his engineering group to\ncontinue the financing and development of Golden Bear independently of Emgold.\nWe believe we are well-positioned to secure the additional financing Emgold\npresently requires and to develop significant value for all our shareholders.\nWe remain very confident of the potential value in the Idaho-Maryland Project\nand in the Company's future prospects."\n\n\nBoard and Management Restructuring\n\n\n----------------------------------\n\n\nThe Company is pleased to announce the appointment of Mr. Stephen J.\nWilkinson as an additiona...