Emgold Mining Corp. has closed its acquisition of the Ceramext(TM) process to convert mine tailings at the Idaho-Maryland Mine into value added, high-quality ceramic products. The acquisition was made through Emgold's wholly-owned U.S. subsidiary, Golden Bear Ceramics Co. The agreement also gives Emgold the exclusive license for the Ceramext technology for conversion of mine tailings and other waste materials into high-value ceramic products worldwide. Under the terms of the agreement, Emgold has paid $100,000 and issued 200,000 common shares to Ceramext, LLC, a private company controlled by a director of Emgold. No common shares were issued as bonuses, finder's fees or commissions in connection with this transaction. The common shares were issued pursuant to the agreement, having a four-month hold period expiring June 12, 2004.
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