Emgold Obtains Exchange Approval and Moves Forward with the Acquistion of a 100% Interest in The Golden Arrow Property, NV

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[{"type":"text","content":"Emgold Obtains Exchange Approval and Moves Forward with the Acquistion of a 100% Interest in The Golden Arrow Property, NV(via TheNewswire)\n\n \n \n\nVancouver, British Columbia / TheNewswire / October 5 2018 - Emgold Mining Corporation (TSX-V: EMR) (\"Emgold\") or the \"Company\") announces it has received TSX Venture Exchange (the \"Exchange\") approval for its acquisition of a 51% interest in the Golden Arrow Property (the \"Property\") in Nevada from Nevada Sunrise Gold Corporation (\"Nevada Sunrise\", TSX-V: NEV), with further option to acquire up to 100% interest in the Property (the \"Transaction\"). Emgold also hereby announces it is further exercising such option to acquire a 100% interest in the Property, subject to the terms of the Definitive Agreement as previously announced by press release on October 2, 2018.\n\n\n\nTo complete the initial acquisition of a 51% interest in the Property, Emgold has, as of the date of this press release, made CDN$100,000 in cash payments and will issue to Nevada Sunrise 2.5 million common shares of the Company. To complete the option and acquire a 100% interest in the Property, Emgold will further issue to Nevada Sunrise an additional 2.5 million common shares, the whole totaling an amount of 5.0 million common shares of the Company.\n\n\n\nEmgold currently has 21.07 million common shares issued and outstanding. Upon completion of the Transaction, Emgold will have a total of 26.07 million shares issued and outstanding and Nevada Sunrise will own 19.2% of Emgold's issued and outstanding shares post-Transaction. Nevada Sunrise will then become an Insider of the Company.\n\n\n\nDavid Watkinson, President and CEO of Emgold stated, \"We are pleased to add the Golden Arrow Property as a core asset to the Company. It has a well-defined mineral resource, an extensive exploration database, and an Environmental Assessment already in place to allow an extensive drilling program to expand resources. It has excellent synergy with our other Nevada assets.\" \n\n\n\nGolden Arrow Property Details\n\n\n\nThe Property is located approximately 40 miles east of Tonopah in Nye County, Nevada. The Property consists of 357 unpatented and 17 patented lode mineral claims covering an area of approximately 7,030 acres (2,845 hectares). It is an advanced-stage exploration property with a comprehensive explorati...

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