GOLD RIDGE INVESTMENT CORP. ANNOUNCES: GOLD MARKET RECOVERY GAINING STRENGTH - INVESTORS SHIFTING ATTENTION TO UNDERVALUED COMPANIES WITH WORLD-CLASS GOLD DEPOSITS EMGOLD MINING'S 100%-OWNED IDAHO-MARYLAND PROJECT HOSTS 2.97 MILLION OUNCE RESOURCE - TO BE DEVELOPED @ 140,000 oz/yr @ US$215 / oz Au EMGOLD MINING CORPORATION ("EMR" - VSE) 1610 - 777 Dunsmuir Street, P. O. Box 10435 Vancouver, BC V7Y 1K4 Canada Phone: (604) 687 - 4622 Fax: (604) 687 - 4212 Toll-Free: (888) 267 - 1400 website: http://www.emgold.com Introduction EMGOLD MINING CORP. has made significant progress in bringing the historic Idaho-Maryland gold mine to a production decision. Recent engineering studies indicate that less than half of the known gold has been extracted from the deposit, and that a 3,000,000 ounce resource remains to be mined. History & Past Production The Idaho-Maryland gold mine was discovered in 1851, and was in nearly-continuous production from 1862 through 1956. Total recorded production from the mine was 2,383,000 ounces of gold from 5,546,000 tons of ore (0.43 oz/ton recovered grade). When the mine closed in 1956 due to escalating costs and the fixed price of gold of US$35/oz, mining operations were underway on 25 different faces on 6 different levels. Large Mineralized System Defined - Extensive Infrastructure In Place The Idaho-Maryland vein system is 9,000 feet long, up to 3,000 feet wide, and has been partially-mined from surface to the 2000 foot level. Access to the mine's 15 working levels is provided by the three-compartment, 3,460-foot deep New Brunswick Shaft. Over 70 miles of underground tunnels and workings provide access to much of the property. A Three Million Ounce Gold Resource Has Been DefinedÂ…. A 1992 study by James Askew and Associates Inc. estimated that the remaining gold resources and potential mineralization between the 2000 and 3280 levels of the Idaho-Maryland mine are 9,117,500 ST @ 0.326 oz Au/ST (containing 2,968,400 oz Au). This resource estimate excludes the potential for large, bulk tonnage targets identified by EMGOLD in 1997. Upside Potential: 3,000,000+ oz Au Located within the wedge-shaped confines of three bounding faults, a 3-D geologic model developed for the Idaho-Maryland mine demonstrates the potential for continuity of the existing vein system to a vertical depth of 5,000 feet (the Idaho-Maryland mine is essentially unexplored below a depth of 3,280 feet). What is not widely known is that the adjoining Empire mine produced six million ounces of gold to a depth of 5,200 feet! This fact, combined with the knowledge that all mineralized structures developed on the lowest levels of the Idaho-Maryland mine remain open at depth, supports EMGOLD's belief that considerably more ore may exist at depth. Development Program (1998 - 1999) EMGOLD's plans for reviving the Idaho-Maryland mine are to first de-water the mine, and then go underground to do further exploration to prove up the total resource potential. EMGOLD has applied for and been granted all permits necessary for re-opening the New Brunswick shaft, de-watering the mine and completing a bankable feasibility. Potential Gold Production of at Least 140,000 oz / yr @ US$215 / oz Au EMGOLD plans to resume operations at the Idaho-Maryland mine at an initial mining rate of 1,500 ST ore / day, which would produce approximately 140,000 ounces of gold per year. With the addition of a second shaft, it may be possible to increase production to 5,000 ST/day - at this production level, the Idaho-Maryland mine would produce over 200,000 ounces of gold per year (on par with other major mines). Recent studies indicate that the Idaho-Maryland mine could be profitably developed and operated at a long-term gold price of US$300/oz based on an estimated operating cost (excluding capital and royalties) of US$215 per ounce. Current Market Conditions The current gold rally is gaining strength with each passing day! In the past month, bullion prices have risen nearly 10%. Yesterday, the Philadelphia XAU gold and silver index closed at 74.69, up 53% from its record low of 48.67 set in late August. Mining stocks have regained favor with major Wall Street firms: Merrill Lynch has initiated coverage of Placer Dome, Barrick, TVX and Kinross, while Bear Stearns has upgraded the recommendations of Asarco, Cyprus Amax and Phelps Dodge. To a large extent, the market rebound has largely benefited the major mining companies, whose share prices are now fully-valued (or even over-valued) at current gold prices. However, we believe that, as the current rally continues, investors will increasingly seek out undervalued junior exploration and development companies with multi-million ounce gold deposits. Opportunity for Investors Trading at a tremendous discount to its fair market value, EMGOLD offers investors a low-risk investment opportunity in the current market environment, and a chance to accumulate a significant position in a stock that can be expected to rally strongly as gold prices move above US$300 / oz. With just 11.5 million shares outstanding (14 million fully-diluted) and a current share price of Cdn$0.28, the equity markets are valuing the Idaho-Maryland gold mine at just Cdn$1.06 per ounce of gold (Cdn$1.35 / oz Au on a fully-diluted basis). EMGOLD's Idaho-Maryland mine offers one of the best advanced exploration / developmental prospects available in North America. With inferred resources of almost three million ounces, nearly one hundred years of operating history, an existing 3,400-foot, three-compartment shaft and 70+ miles of underground workings, EMGOLD has 100% control of a world-class gold project with the vast majority of the expensive infrastructure in place and ready to go. For more information, please contact Andrew Hunter toll-free at 1 - 888 - 267 - 1400 Disclaimer: The information contained herein has been compiled or derived from sources believed reliable and contains information and opinions which are accurate and complete. However, Gold Ridge makes no representation or warranty, express or implied, in respect thereof, takes no responsibility for any errors and omissions which may be contained herein and accepts no liability whatsoever for any loss arising from any use or reliance upon this report or its contents. The information provided is for information purposes only and should not be construed as, and shall not form part of an offer or solicitation to but or sell any securities. Emgold Mining has paid Gold Ridge a fee of US$20,000.00 for preparing and disseminating this information. -------------------- <!DOCTYPE HTML PUBLIC "-//W3C//DTD W3 HTML//EN"> <HEAD> <META content=text/html;charset=iso-8859-1 http-equiv=Content-Type> <META content='"MSHTML 4.72.3110.7"' name=GENERATOR> </HEAD> <DIV> <DIV>GOLD RIDGE INVESTMENT CORP. ANNOUNCES: GOLD MARKET RECOVERY GAINING STRENGTH - INVESTORS SHIFTING ATTENTION TO UNDERVALUED COMPANIES WITH WORLD-CLASS GOLD DEPOSITS EMGOLD MINING'S 100%-OWNED IDAHO-MARYLAND PROJECT HOSTS 2.97 MILLION OUNCE RESOURCE - TO BE DEVELOPED @ 140,000 oz/yr @ US$215 / oz Au EMGOLD MINING CORPORATION ("EMR" - VSE) 1610 - 777 Dunsmuir Street, P. O. Box 10435 Vancouver, BC V7Y 1K4 Canada Phone: (604) 687 - 4622 Fax: (604) 687 - 4212 Toll-Free: (888) 267 - 1400 website: http://www.emgold.com Introduction</DIV> <DIV> EMGOLD MINING CORP. has made significant progress in bringing the historic Idaho-Maryland gold mine to a production decision. Recent engineering studies indicate that less than half of the known gold has been extracted from the deposit, and that a 3,000,000 ounce resource remains to be mined. History & Past Production</DIV> <DIV> The Idaho-Maryland gold mine was discovered in 1851, and was in nearly-continuous production from 1862 through 1956. Total recorded production from the mine was 2,383,000 ounces of gold from 5,546,000 tons of ore (0.43 oz/ton recovered grade). When the mine closed in 1956 due to escalating costs and the fixed price of gold of US$35/oz, mining operations were underway on 25 different faces on 6 different levels. Large Mineralized System Defined - Extensive Infrastructure In Place The Idaho-Maryland vein system is 9,000 feet long, up to 3,000 feet wide, and has been partially-mined from surface to the 2000 foot level. Access to the mine's 15 working levels is provided by the three-compartment, 3,460-foot deep New Brunswick Shaft. Over 70 miles of underground tunnels and workings provide access to much of the property. A Three Million Ounce Gold Resource Has Been Defined…. A 1992 study by James Askew and Associates Inc. estimated that the remaining gold resources and potential mineralization between the 2000 and 3280 levels of the Idaho-Maryland mine are 9,117,500 ST @ 0.326 oz Au/ST (containing 2,968,400 oz Au). This resource estimate excludes the potential for large, bulk tonnage targets identified by EMGOLD in 1997. Upside Potential: 3,000,000+ oz Au</DIV> <DIV> Located within the wedge-shaped confines of three bounding faults, a 3-D geologic model developed for the Idaho-Maryland mine demonstrates the potential for continuity of the existing vein system to a vertical depth of 5,000 feet (the Idaho-Maryland mine is essentially unexplored below a depth of 3,280 feet). What is not widely known is that the adjoining Empire mine produced six million ounces of gold to a depth of 5,200 feet! This fact, combined with the knowledge that all mineralized structures developed on the lowest levels of the Idaho-Maryland mine remain open at depth, supports EMGOLD's belief that considerably more ore may exist at depth. Development Program (1998 - 1999)</DIV> <DIV> EMGOLD's plans for reviving the Idaho-Maryland mine are to first de-water the mine, and then go underground to do further exploration to prove up the total resource potential. EMGOLD has applied for and been granted all permits necessary for re-opening the New Brunswick shaft, de-watering the mine and completing a bankable feasibility. Potential Gold Production of at Least 140,000 oz / yr @ US$215 / oz Au EMGOLD plans to resume operations at the Idaho-Maryland mine at an initial mining rate of 1,500 ST ore / day, which would produce approximately 140,000 ounces of gold per year. With the addition of a second shaft, it may be possible to increase production to 5,000 ST/day - at this production level, the Idaho-Maryland mine would produce over 200,000 ounces of gold per year (on par with other major mines). Recent studies indicate that the Idaho-Maryland mine could be profitably developed and operated at a long-term gold price of US$300/oz based on an estimated operating cost (excluding capital and royalties) of US$215 per ounce. Current Market Conditions</DIV> <DIV> The current gold rally is gaining strength with each passing day! In the past month, bullion prices have risen nearly 10%. Yesterday, the Philadelphia XAU gold and silver index closed at 74.69, up 53% from its record low of 48.67 set in late August. Mining stocks have regained favor with major Wall Street firms: Merrill Lynch has initiated coverage of Placer Dome, Barrick, TVX and Kinross, while Bear Stearns has upgraded the recommendations of Asarco, Cyprus Amax and Phelps Dodge. To a large extent, the market rebound has largely benefited the major mining companies, whose share prices are now fully-valued (or even over-valued) at current gold prices. However, we believe that, as the current rally continues, investors will increasingly seek out undervalued junior exploration and development companies with multi-million ounce gold deposits. Opportunity for Investors</DIV> <DIV> Trading at a tremendous discount to its fair market value, EMGOLD offers investors a low-risk investment opportunity in the current market environment, and a chance to accumulate a significant position in a stock that can be expected to rally strongly as gold prices move above US$300 / oz. With just 11.5 million shares outstanding (14 million fully-diluted) and a current share price of Cdn$0.28, the equity markets are valuing the Idaho-Maryland gold mine at just Cdn$1.06 per ounce of gold (Cdn$1.35 / oz Au on a fully-diluted basis). EMGOLD's Idaho-Maryland mine offers one of the best advanced exploration / developmental prospects available in North America. With inferred resources of almost three million ounces, nearly one hundred years of operating history, an existing 3,400-foot, three-compartment shaft and 70+ miles of underground workings, EMGOLD has 100% control of a world-class gold project with the vast majority of the expensive infrastructure in place and ready to go. For more information, please contact Andrew Hunter toll-free at 1 - 888 - 267 - 1400 Disclaimer: The information contained herein has been compiled or derived from sources believed reliable and contains information and opinions which are accurate and complete. However, Gold Ridge makes no representation or warranty, express or implied, in respect thereof, takes no responsibility for any errors and omissions which may be contained herein and accepts no liability whatsoever for any loss arising from any use or reliance upon this report or its contents. The information provided is for information purposes only and should not be construed as, and shall not form part of an offer or solicitation to but or sell any securities. Emgold Mining has paid Gold Ridge a fee of US$20,000.00 for preparing and disseminating this information. </DIV></DIV> NOTE: For those on the internet who do not want to recieve exciting messages such as this..... * To be removed from our mailing list, simple send "remove" to the return address. *We strive to comply with all state and federal laws and to send ads only to interested parties. *This ad is not intended for nor do we knowingly send to Washington State residents. PRINT THIS AD FOR FUTURE CONSIDERATION!!