From: bubba219@mailexcite.com
Date: Thu, 1 Oct 1998 08:44:03 -0700 (PDT)
To: <gnu@toad.com>
Subject: MAJOR STOCK ALERT!!  A 3 MILLION GOLD RESOURCE  CONFIRMED!!
Message-ID: <199810011543.IAA02192@toad.com>
MIME-Version: 1.0
Content-Type: text/plain



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 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

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.


--------------------
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<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 (&quot;EMR&quot; - 
VSE)
1610 - 777 Dunsmuir Street, P. O. Box 10435
Vancouver, BC&nbsp; V7Y 
1K4&nbsp; Canada
Phone: (604) 687 - 4622&nbsp;&nbsp;&nbsp; Fax: (604) 687 - 
4212
Toll-Free:&nbsp; (888) 267 - 1400
website:&nbsp; 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.&nbsp; 
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 &amp; Past Production</DIV>
<DIV>
The Idaho-Maryland gold mine was discovered in 1851, and was 
in
nearly-continuous production from 1862 through 1956.&nbsp; 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).&nbsp; 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.&nbsp; 
Access to the 
mine's 15 working levels is provided by the three-compartment, 
3,460-foot deep 
New Brunswick Shaft.&nbsp; Over 70 miles of underground tunnels 
and workings 
provide access to much of the property.


A Three Million Ounce Gold 
Resource Has Been Defined&hellip;.
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).&nbsp; This resource 
estimate 
excludes the potential for large, bulk tonnage targets identified 
by EMGOLD in 
1997.&nbsp; 


Upside Potential:&nbsp; 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!&nbsp; 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.&nbsp;&nbsp; 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.&nbsp; 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.&nbsp; 


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%.&nbsp; 
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:&nbsp; 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.&nbsp; 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).&nbsp; 


EMGOLD's&nbsp; Idaho-Maryland 
mine offers one of the best advanced exploration / developmental 
prospects 
available in North America.&nbsp; With inferred resources of 
almost three 
million ounces, nearly one hundred years of operating history, an 
existing 
3,400-foot, three-compartment&nbsp; 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.&nbsp; 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.&nbsp; 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.&nbsp; Emgold 
Mining has
paid Gold Ridge a fee of US$20,000.00 for preparing and 
disseminating this information.
</DIV></DIV>


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