EMGOLD MINING CORPORATION
Suite 1400 – 570 Granville Street
Vancouver, B.C. V6C 3P1
www.emgold.com
NOT FOR DISTRIBUTION TO U.S. WIRE SERVICES OR DISSEMINATION IN THE U.S.
December 8, 2006
TSX Venture Exchange: EMR
OTC Bulletin Board: EGMCF
U.S. 20-F Registration: 000-51411
Frankfurt Stock Exchange: EML
EMGOLD CLOSES PRIVATE PLACEMENT
Emgold Mining Corporation (EMR - TSX Venture) (the “Company” or “Emgold”) announces that it has now closed its previously announced private placement financing. Emgold reduced the size of the previously announced financing following the decision to reorganize the Company into two separate entities. The total net funds raised is $3.87 million, including $3.02 million non-flow-through and $850,000 in flow-through.
The Company issued 13,024,105 units comprising one common share and one share purchase warrant exercisable for 24 months to acquire an additional share at $0.40 and 2,238,000 units comprising one flow-through common share and one-half of one non-flow-through share purchase warrants exercisable for 24 months to acquire one additional share at $0.50.
The Company issued an aggregate of 1,247,368 compensation options and paid an aggregate of approximately $345,000 in fees to the agent and certain finders in connection with the transaction.
All securities issued or issuable in connection with the Offering will be subject to a hold period and may not be traded for four months plus one day from the date of closing.
The non-flow-through proceeds of the Offering will be used to advance permitting on the Company’s Idaho-Maryland gold project and for working capital. The flow-through proceeds will be used to advance the Company’s exploration properties located in British Columbia.
On behalf of the Board of Directors,
William J. (Bill) Witte, P.Eng.
President and Chief Executive Officer
For further information please contact:
Michael O’Connor,Manager, Investor Relations
Tel: (604) 687-4622 Fax: (604) 687-4212
Email:info@emgold.com
No regulatory authority has approved or disapproved the information contained in this news release.
