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Buckskin Rawhide Property Presentation November 2011

Summary

The Buckskin-Rawhide Property (the "Property") consists of the Buckskin Rawhide East and Buckskin Rawhide West Areas. It is an early stage gold/silver exploration property located in the Rawhide Mining District of Nevada. The Property contains occurrences of both high grade vein and low grade bulk disseminated gold and silver mineralization. It has potential for development as a stand alone property or for development in combination with adjacent properties.

The Buckskin Rawhide Property is adjacent to the Rawhide Mining Company's Rawhide Mine. The Rawhide Mine, formerly known as Denton Rawhide Mine, was owned and operated by Kennecott Minerals Company ("Kennecott") from 1988 to 2009. It produced 1.5 million ounces of gold and 12.4 million ounces of silver (Muntean, 2010). In 2010, Rawhide Mine was acquired by Rawhide Mining Company ("RMC"). They continue to produce gold from historic heap leach pads, remaining after Kennecott ceased mining activity in 2003 due to low metal prices. RMC is currently evaluating reopening the mine, to take advantage of today's high metal prices.

The Property is also adjacent to the Regent exploration property owned by Pilot Gold Corporation. Pilot Gold was formed after the acquisition of Fronteer Gold by Newmont Mining Corporation. The Regent property was previously explored and drilled by Kennecott in the 1990's. Since its formation, Pilot Gold has been conducting exploration on the property, including drilling, with the goal of defining a potential NI 43-101 compliant resource.

It should be noted that proximity of the Buckskin Rawhide Property to other exploration adjacent properties or properties in the area does not mean a resource will be identified or delineated at Buckskin Rawhide. However, the presence of similar geology and structures on the three properties does increase the potential for exploration success.

Historically, the Buckskin-Rawhide Property was explored by Kennecott and other companies, which included drilling over 80 reverse circulation drill holes. Historic results indicated potential for delineation of both high grade mineralized gold/silver veins and bulk minable disseminated gold/silver zones, which led to Emgold acquiring the Property. Emgold has reviewed historic data, conducted geological mapping and field sampling, and has identified two key exploration targets to date including the:

• Black Eagle High Grade Vein Target; and
• Chicago Mountain Bulk Disseminated Target.

In 2011, Emgold announced successful results from surface sampling of the Black Eagle High Grade Vein Target. Results included a number of high grade gold chip samples. Significant results, with grades over 0.5 ounces per ton gold, included:

• 9.0 ounces per ton gold over 12 inches (EBE 10-23)
• 1.0 ounces per ton gold over 12 inches (EBE 10-24)
• 7.3 ounces per ton gold over 12 inches (EBE 10-29)
• 1.5 ounces per ton gold over 12 inches (EBE 10-52)
• 2.4 ounces per ton gold over 12 inches (EBE 11-57)
• 4.1 ounces per ton gold over 12 inches (EBE 11-59)
• 1.1 ounces per ton gold over 12 inches (EBE 11-60)

To date, Emgold has taken 113 samples in the mineralized area of the Black Eagle Fault with an average grade of 0.3 ounces per ton gold. The gold-silver mineralization is related to the Black Eagle Fault, which occurs over a measured strike length of 1,100 feet, and is open to extension. The Black Eagle High Grade Vein Target, within the Black Eagle Fault, consists of fault gouge, quartz veins, and silicified wall rocks overprinted with iron-manganese oxides. To date, the Black Eagle High Grade Vein Target is 360 feet in strike length, contains high grade gold mineralization, and is open to extension. This target is interpreted to be a steep dipping shoot.

In 2011, Emgold also announced initial results of surface sampling of the Chicago Mountain area. A bulk disseminated gold exploration target, called the Chicago Mountain Bulk Disseminated Target, was identified being approximately 4,000 feet long by 400 feet wide. A total of 105 historic grab samples in the target area averaged 0.04 ounce per ton gold. Emgold has taken 15 samples in this target area to date, with average grades of 0.02 ounce per ton gold. Ten reverse circulation drill holes were drilled by Kennecott historically in the mineralized area, with the average grade of mineralization in the holes being 0.008 ounces per ton gold and mineralization to a depth of 165 feet.

Potential exists to develop the Buckskin-Rawhide Property as a stand alone gold/silver exploration property or to consider a strategy to develop the Buckskin-Rawhide Property in combination with the Rawhide Mine and Regent properties. Emgold believes additional exploration activity is warranted on the property, including core and reverse circulation drilling on the Black Eagle High Grade Target and a reverse circulation program on the Chicago Mountain Bulk Disseminated Target. The Company plans to commence this work in 2012, subject to successful financing and permitting activities.

The property is located approximately 40 miles southeast of Fallon, in Mineral County, Nevada, as shown on the Property Location Map. It is in the Rawhide Mining District (formerly known as the Regent Mining District).

Buckskin Rawhide Property Location Map

Ownership

The Buckskin Rawhide East Area comprises approximately 835 acres consisting of 52 unpatented mineral lode claims (note that individual claims are 20 acres in size, totaling 1,040 acres, with a number of claims overlapping, resulting in a total property area of 835 acres) which is under the jurisdiction of the Bureau of Land Management (BLM). Six claims, totaling 120 acres were staked by Emgold. Forty-six claims, totaling 715 acres, are under a lease and option to purchase agreement to acquire 100% of the claims from Nevada Sunrise LLC, a private company located in Auburn, California. The terms of this agreement were disclosed in an Emgold news release dated December 1, 2009.

The 46 claims are currently 75% owned by Nevada Sunrise LLC, a private Nevada company and 25% owned by Maurice and Lorraine Castagne. Emgold has agreed to lease the property from Nevada Sunrise LLC, subject to the following payments:

Table 1
Buckskin Rawhide East Property Payments

Year	Advance Royalty Payment
2009	US$10,000 (1)
2010	US$10,000 (1)
2011	US$10,000 (1)
2012	US$20,000 (1)
2013	US$40,000 (1)
2014	US$60,000 (2)
2015	US$60,000 (2)
2016	US$60,000 (2)
2017	US$60,000 (2)
2018	US$60,000 (2)
2019	US$60,000 (2)

Note: (1) Lease payments may be paid in either cash or Emgold common shares based on an average price of shares traded during the calendar month prior to the payment due date. (2) Lease payments may be paid in Emgold common shares at the discretion of Nevada Sunrise based on an average price of shares traded during the calendar month prior to the payment due date.

During the lease period, Emgold may conduct exploration and, if warranted, complete a NI 43-101 compliant feasibility study. On completion of the feasibility study, Emgold may acquire 100% ownership of the property by paying Nevada Sunrise an additional amount of US$250,000 which Nevada Sunrise is required to use to purchase the retained 25% interest from Maurice and Lorraine Castagne as per an underlying property agreement, and to transfer that title to Emgold. Upon commercial production and after acquisition of 100% interest in the property by Emgold, Nevada Sunrise will be entitled to a 2.5 percent Net Smelter Royalty on production from the property.

Buckskin Rawhide Claim Map

Buckskin Rawhide West Area

The Buckskin Rawhide West Area consists of 21 unpatented mineral lode claims totaling 420 acres, also under the jurisdiction of the BLM. The claims are under a lease and option to purchase agreement to acquire 100% of the claims from Jeremy C. Wire, an individual, located in San Jose, California. The terms of this agreement were disclosed in Emgold's February 6, 2012 press release.

The 21 claims are currently 100% owned by Jeremy C. Wire, an individual. Emgold has agreed to lease the property from Mr. Wire, subject to the following payments:

Table 2
Buckskin Rawhide West Property Payments

Year	Advance Royalty Payment
2012	US$10,000 (1)
2013	US$10,000 (2)
2014	US$10,000 (2)
2015	US$20,000 (3)
2016	US$30,000 (3)
2017	US$30,000 (3)
2018	US$30,000 (3)

Note: (1) Lease payments may be paid in 50% in cash and 50% in Emgold common shares. (2) Lease payments may be paid in cash or Emgold common shares, at the discretion of Emgold. (3) Lease payments may be paid in cash or Emgold common shares, at the discretion of the Lessor. Shares will be issued at "market value" which means the volume weighted closing price of the shares on the TSX Venture Exchange or the most senior stock exchange or quotation system on which the shares are then listed or quoted for fifteen (15) trading days ending on the date that is five (5) business days before the applicable payment.

During the lease period, Emgold may conduct exploration and, if warranted, complete a NI 43-101 Technical Report on the Property. On making the above payments and completion of the Technical Report, Emgold may acquire 100% ownership of the property. Upon commercial production Jeremy Wire will be entitled to a 2 percent Net Smelter Royalty on production from the property. Emgold will retain the right to purchase this royalty for $1 million, less any advance royalty payments already made.

Historic Exploration and Mining Activities by Others

Gold was originally discovered on the Buckskin Rawhide claims in the year 1906. A gold rush in the area led to a number of mining claims being staked, ultimately forming the Regent Mining District (now known as the Rawhide Mining District). The gold rush led to the formation of the town of Rawhide, which grew to a population of 7,000 by 1908, falling back to 500 by the year 1910. By the 1940's, the town was essentially abandoned.

Town of Rawhide, Circa 1915

The Rawhide District was active with mining from 1908-1920, during which time 46,218 fine ounces of gold and 685,901 fine ounces of silver were produced from the historic mines. During this period, historic mining activity occurred on the Property and a number of shafts, adits, and stopes were excavated. No production records appear to exist from these operations. From 1921 through 1935, only 2,815 fine ounces of gold and 51,463 fine ounces of silver were produced from the Rawhide Mining District (Vanderburg, 1937).

Modern exploration at in the Rawhide area, including the Buckskin Rawhide Property, appears to have begun in 1982. Exploration activities consisted of geologic and alteration mapping, surface rock chip geochemical sampling, geophysics, and reverse circulation drilling, most of which was done by Kennecott. At that time, Kennecott was exploring the entire Rawhide District, eventually discovering and developing the Denton Rawhide Mine. Other companies also conducted reconnaissance exploration in the area.

Modern mining in the Rawhide Mining District began in 1988 with the startup of Kennecott's Denton Rawhide Mine. The Denton Rawhide Mine was located near the historic town of Rawhide and was also where the greatest concentration of historic mine workings had existed. Although mining was shut down in May of 2003 due to low metal prices, Denton Rawhide Mine (now called the Rawhide Mine) continues to produce gold from ongoing leaching of ore that was already in place on the heap leach pad. From 1990 through 2009, production at Rawhide Mine is reported to have been 1,543,905 ounces of gold and 12,383,554 ounces of silver (Muntean, 2010). In 2010, Rawhide Mining Company LLC, a private corporation, acquired Rawhide Mine from Kennecott Minerals.

Most of the mining claims associated with the Buckskin Rawhide Property were staked by Maurice and Lorraine Castagne in 1994 and 1995. Nevada Sunrise LLC staked some claims in 1995 and 2001. Nevada Sunrise LLC then acquired a 75% interest in Maurice and Lorraine Castagnes' claims in 2001, including the option to purchase the remaining 25%. Nevada Sunrise LLC, optioned its claims to Emgold in 2010. Emgold expanded the Property by staking additional claims in 2011 and acquiring an option on claims owned by Jeremy Wire in 2012.

Historic Exploration of the Black Eagle Fault

Kennecott conducted surface sampling along the Black Eagle Fault, a north-south trending structure situated on the west side of Emgold's claim block, between years 1996 and 2002. Kennecott was exploring for bulk disseminated gold deposits similar to the one found at the adjacent Denton Rawhide Mine (now called the Rawhide Mine), which was being operated by Kennecott Rawhide Mining Company at that time. They assayed a total of 125 rock chip and grab samples over a strike length of 5,700 feet in the area of Black Eagle Fault. The average grade of those samples was 0.031 ounces per ton gold.

Kennecott drilled 80 reverse circulation drill holes on the Buckskin Rawhide Property (source of information was Rawhide Mining Company). They drilled 36 of these reverse circulation holes in the area along the Fault, with 20 of those holes showing gold anomalies greater than 0.005 ounces per ton. However, Kennecott was not looking for high grade gold associated with the Black Eagle Fault and their surface sampling and drilling did not focus on vein structures.

Historic information includes drilling summaries, assay laboratory reports and geologic descriptions of surface sampling. Details of the sampling methods, handling, and quality control methods are unknown, and the historic drilling results being disclosed cannot be verified for the purposes of NI 43-101. Therefore this information is not NI 43-101 compliant and should not be relied upon for investment purposes. This information, however, is a useful guide for current exploration by the Company's geologists.

Historic Exploration of the Buckskin Mountain and Chicago Mountain Areas

Kennecott completed 351 surface rock chip and grab samples and conducted drilling programs in the Chicago Mountain area. Cordex Exploration and International All North Resources also evaluated the area. A total of 416 samples were taken of rock outcrops in the area between Buckskin Mountain and Chicago Mountain and analyzed for gold-silver mineralization.

Of these historic surface samples, 105 samples defined an anomalous mineralized zone at Chicago Mountain with grades at or above 0.003 ounce per ton gold, as shown in Table 3.

Table 3
Comparison of Historic Gold Assays in Mineralized Zone
Chicago Mountain Bulk Disseminated Target
Buckskin Rawhide Property, NV

Company (Date of Work)	No. of Samples	Average Gold Grade (opt)
Cordex (1996)	10	0.019
International (1997)	45	0.014
Kennecott (2000-2002)	50	0.068
Overall Average	105	0.040

Gold grades are arithmetic averages.

Of the 80 reverse circulation drill holes on the Buckskin Rawhide Property drilled by Kennecott, 17 were drilled near Chicago Mountain (source of information was Rawhide Mining Company). Reverse circulation drilling showed anomalous gold values in 10 of 17 holes within the same disseminated gold zone defined by the surface sampling, with mineralization occurring from the ground surface to depths of 165 feet.

Historic drill results are summarized in Table 4, which shows the drill holes, weighted average grades and depths of mineralization. Samples were taken on intervals of five feet. The average grade of mineralization in the holes in Table 4 is 0.008 ounce per ton gold, and the mineralized target appears to be open in several directions. Drill hole RK2776 was mineralized with an average grade of 0.005 from surface to 165 feet in depth. This does not represent a true thickness.

Table 4
Historic Drilling Mineralized Zone Gold Assays
Chicago Mountain Bulk Disseminated Target
Buckskin Rawhide Property, NV

Drillhole Number	Average Grade (opt Au)	Depth of Mineralization
RK 2760	0.005	80
RK 2761	0.001	75
RK 2762	0.010	70
RK 2765	0.007	95
RK 2767	0.028	90
RK 2768	0.008	125
RK 2769	0.005	70
RK 2770	0.005	85
RK 2771	0.005	65
RK 2776	0.005	165
Ave. All Holes	0.008

Mineralization is from surface to noted depth. Average grades are in arithmetic averages. Average grades are in arithmetic averages.Drill holes are randomly spaced approximately 100 to 800 feet apart. Drill sample size is unknown.

Historic information includes drilling summaries, assay laboratory reports and geologic descriptions of surface sampling. Details of the sampling methods, handling, and quality control methods are unknown, and the historic drilling results being disclosed cannot be verified for the purposes of NI 43-101. Therefore this information is not NI 43-101 compliant and should not be relied upon for investment purposes. This information, however, is a useful guide for current exploration by the Company's geologists.

Geology and Mineralization

The Buckskin Rawhide Property is a volcanic-hosted, structurally controlled, epithermal gold-silver target situated in the Walker Lane gold belt of western Nevada. The Walker Lane is a regional shear zone and known gold trend that has hosted large and small historic and recent gold-silver mines in western Nevada, including mines of the Comstock Lode, Tonopah District and Rawhide District. From 1981 through 2009, mines located in Mineral County that were situated in the Walker Lane gold trend have produced 2,800,448 ounces of gold and 56,112,442 ounces of silver (Muntean, 2010).

Property geology and mineralization is similar to Rawhide Mining Company's Rawhide Mine. Mineralization is associated with structures from the Walker Lane along with lithologic units and structures of the Rawhide volcanic center. The Buckskin Rawhide East Area is situated adjacent to Rawhide Mine while the Buckskin Rawhide West Area is located about 1.5 miles west of the Rawhide Mine and about one-third of a mile west of Buckskin Rawhide East Area, as shown on the Regional Gold/Silver Properties Map.

Gold and Silver Properties in the Walker Lane

Emgold's Exploration Activites at Buckskin Rawhide

Emgold's exploration has focused on two main targets to date, the Black Eagle High Grade Vein Target and the Chicago Mountain Bulk Disseminated Target.

Black Eagle High Grade Vein Target

The Black Eagle Fault is a prominent north-trending structure situated on the west side of Emgold's claim block. The surrounding bedrock is volcanic and includes latite and vent breccia. The gold-silver mineralization is related to the fault and occurs over a measured strike length of 1,100 feet (and open to extension). Emgold has identified the Black Eagle High Grade Vein Target, in the Black Eagle Fault, which consists of fault gouge, quartz veins, and silicified wall rocks overprinted with iron-manganese oxides. The Target is currently 360 feet in strike length, open to extension, and contains high grade gold. The Target is interpreted to be a steeply dipping shoot.

Black Eagle Vein Target Facing North

Rock chip samples in the mineralized shoot in the Black Eagle High Grade Vein Target are shown in Table 5 below.

Table 5
Gold and Silver Assays
Black Eagle Vein High Vein Target, Buckskin Rawhide Property, NV

Sample No.	Sample Date	Assay - Gold (opt)	Assay - Silver (opt)
EBE 10-9	9/22/2010	0.017	0.492
EBE 10-23	11/18/2010	9.000	17.578
EBE 10-24	11/18/2010	0.994	7.212
EBE 10-25	11/18/2010	0.079	1.299
EBE 10-26	11/18/2010	0.123	23.915
EBE 10-27	11/18/2010	0.220	3.037
EBE 10-28	11/18/2010	0.399	5.782
EBE 10-29	11/18/2010	7.347	7.388
EBE 10-30	11/18/2010	0.021	0.388
EBE 10-35	11/18/2010	0.316	3.416
EBE 10-39	11/18/2010	0.010	0.464
EBE 10-40	11/18/2010	0.859	1.048
EBE 10-41	11/18/2010	0.033	0.209
EBE 10-42	11/18/2010	0.031	0.235
EBE 10-43	11/18/2010	0.003	0.164
EBE 10-44	11/18/2010	0.018	0.298
EBE 11-49	3/22/2011	0.013	0.298
EBE 11-50	3/22/2011	0.030	0.636
EBE 11-51	3/22/2011	0.139	1.552
EBE 11-52	3/22/2011	1.515	8.500
EBE 11-53	3/22/2011	0.121	4.600
EBE 11-54	3/22/2011	0.238	8.800
EBE 11-55	3/22/2011	0.467	5.100
EBE 11-56	3/22/2011	0.029	1.583
EBE 11-57	3/22/2011	2.384	6.800
EBE 11-58	3/22/2011	0.027	1.029
EBE 11-59	3/22/2011	4.115	9.000
EBE 11-60	3/22/2011	1.110	3.200
EBE 11-61	3/22/2011	0.029	0.511

All samples are chip-channel samples taken over 12 inch widths, except 10-9 which is taken over 24
inches. These are not true widths across the vein.

To date, Emgold has taken 106 surface rock chip samples along with seven grab samples of historic mine dumps and bedrock along the potential strike of the Black Eagle High Grade Vein structure to date. These results indicate:

1. The potential for the presence of low grade bulk disseminated mineralization in the vicinity of the high grade zone (east and west of high grade zone, which carries low grade gold and silver mineralization). Eighteen samples had grades between 0.010 and 0.039 ounce per ton gold.
2. The potential for additional higher grade mineralized zones along the strike of the Black Eagle Structure (EBE 11-64, to the north of the high grade zone, with a grade of 0.136 ounce per ton gold and 1.109 ounce per ton silver).
3. The potential for mineralized historic waste dumps (see EBE-D, EBE-ST-D, EBE-ST-L, Shaft West, and Shaft North). Three of these five samples had grades greater than 0.100 ounce per ton gold.

A total of 57 samples collected to date had gold grades that were non-detectable or below 0.010 ounce per ton gold, indicating that significant mineralization was not present in all samples, or that the mineralized structure was not sampled.

Black Eagle Vein Target Facing South

Chicago Mountain Bulk Disseminated Target

Additional surface sampling by Emgold focused on the Chicago Mountain area and was designed to develop an understanding of the mineralized structures in that area. Twenty-five rock chip-channel samples, ranging from 6-12 inches in length, were taken from outcrops of bedrock and structures. Five samples were also taken from historic mine dumps. Dry sample weights varied from one to two pounds. A summary of assays from Emgold's sampling in the Chicago Mountain area is shown in the Table 6 below.

Table 6
Emgold Gold Assays
Chicago Mountain Bulk Disseminated Target
Buckskin Rawhide Property, NV

# of Samples	% of Samples	Assay -- Gold (opt)
20	66	Less than 0.005
2	7	0.005 through 0.009
3	10	0.01 through 0.03
2	7	0.03 through 0.05
3	10	0.05 through 0.09

All samples were taken August, 2011. Rock chip-channel samples were taken over 6 to 12 inch widths and
are not true widths across the vein.

Chicago Mountain Target Facing West

This historic sampling, by Kennecott and others, combined and confirmed with Emgold's work, has defined a significant northwest trending mineralized zone at Chicago Mountain that is approximately 4,000 feet in length and 400 feet in width. Grades range from an outer lowest grade contour line of 100 parts per billion (0.003 ounce per ton gold) and increase to higher grades of over 2,000 parts per billion (0.06 ounce per ton gold) in the center of the zone.

Chicago Mountain Target Facing West

Grade Contour Map of Chicago Mountain

The sample results and the grade contour map are preliminary in nature and are not conclusive evidence of the likelihood of the occurrence of a mineral deposit. However, the results do justify further exploration of the Property, including core and reverse circulation drilling, for a bulk disseminated gold target.

Emgold's Quality Assurance and Quality Control Program for Exploration

Emgold's quality assurance program and quality control measures for exploration at Buckskin Rawhide were described in the press release dated October 4, 2011 and pertain to all samples taken on the property. Quality control measures include representative sampling, proper numbering, and accurately locating samples in the field both visually on maps and also with a GPS instrument. Samples are transported by the geological staff from the field to Emgold's office-warehouse facility to assure secure storage, and are then packaged for shipment to the assay laboratory. The Company may also incorporate its own samples as test blanks and assaying standards for analysis. Samples are shipped by Emgold employees or via commercial carriers directly to the assay laboratory for analysis.

Emgold's Qualified Person Mr. Robert Pease, Chief Geologist of the Company, visits the assay laboratories to review the general sample handling and preparation measures, to make sure they are adequate. The assay laboratory catalogues all samples, maintains complete chain of custody throughout the analytical process, and electronically mails the chain of custody forms to Emgold for review prior to initiating sample preparation. All sample preparation is done at the laboratory by their staff. As part of their quality assurance, the laboratory incorporates assaying standards, test blanks, and duplicate analyses of samples, and includes those results in final reports. The final signed reports complete the chain of custody process. Thus far, no factors have been encountered in sampling programs conducted by Emgold on the Buckskin Rawhide property that would materially affect the accuracy or reliability of Emgold's sample data or cause loss of confidence in the laboratory. American Assay Laboratories, Inc. of Sparks, Nevada, an independent and adequately certified laboratory, has conducted the laboratory analyses of Emgold's samples. Samples taken by Emgold were analyzed using standard fire assaying and ICP methods.

District Exploration Potential

The Rawhide Mine, a large gold/silver operation adjacent to the Buckskin Rawhide Property, began mining operations in 1988 with mining suspended in May 2003 due to low metal prices. Reported production was 1.5 million ounces of gold and 12.4 million ounces of silver through 2009. Kennecott Minerals discontinued mining activities at the Rawhide Mine and dropped the Buckskin Rawhide and Regent properties in 2002 after gold prices dropped below US $300 per ounce. In 2010, Kennecott Minerals Inc. sold the Rawhide Mine to Rawhide Mining Company. They are continuing to recover gold from existing heap leach pads at Rawhide Mine. RMC is evaluating the re-activation of mining activities at the Rawhide Mine.

In addition, from the 1980's through 2000, Newmont Mining Corporation and Kennecott drilled 580 mostly shallow, vertical reverse circulation holes on the adjacent Regent property exploring for bulk minable resources. Kennecott reported a resource of 51,901 ounces of gold and 473,627 ounces of silver at an average grade of 0.022 ounce per ton gold and 0.196 ounce per ton silver using a US $300 per ounce gold price (Source: Pilot Gold Information Circular dated March 2, 2011 available at sedar.com). This resource estimate is not NI 43-101 compliant and should not be used for investment purposes. The Regent Property is currently owned by Pilot Gold Corporation (GLG-TSX) a gold exploration company spun out of Fronteer Gold Inc. as part of Newmont Mining Corporation's acquisition of Fronteer through a "Plan of Arrangement". Pilot announced and conducted a Phase 1 drill program on Regent totaling 10,000 meters with an initial budget of $2.5 million (see Pilot's April 19, 2011 press release). Pilot plans to evaluate both high grade vein mineralization and bulk-mineable tonnage.

While exploration success at the Rawhide or Regent properties does not guarantee success at Buckskin Rawhide, it does indicate the potential of the Rawhide District for gold-silver discoveries. There may ultimately be potential synergy for exploration, discovery, and development of the properties, given their close proximity. There may also be potential to expand the Buckskin Rawhide Property or acquire other properties in the area.

Buckskin Rawhide and Adjacent Property Claims

Resources and Reserves

Buckskin-Rawhide is considered an early stage property. No NI 43-101 compliant resources have been defined for the property at this time.

Mining

If an economically viable resource is found, the potential might exist for mining of high grade vein zones and bulk minable disseminated gold targets using either open pit or underground mining methods . Selection of mining methods would be subject to additional exploration activity and economic studies.

Metallurgy

If an economically viable resource is found, heap leaching of low grade ore or milling of higher grade ore would be evaluated. Kennecott Rawhide Mining Company operates a heap leach operation at the adjacent Denton-Rawhide Mine. Selection of a metallurgical process would be subject to additional exploration activity, metallurgical test work, and economic studies.

Permitting and Environmental

The property us currently an exploration stage project and permits for drilling will be administered by BLM in Carson City, Nevada. Permits for small drilling programs disturbing less than five acres typically can be obtained in about 30 days, although the time can be longer depending on the work load of BLM staff at the time of application. Large programs requiring an environmental assessment would take several months.

The Buckskin-Rawhide Property does not appear to be situated close to any restricted areas (such as BLM wilderness areas). The Walker Lake Indian Reservation is situated approximately one mile west of the Buckskin Rawhide West claim block.

The State of Nevada is considered to be one of the best jurisdictions in the world for permitting mining operations. Permitting of a mining operation would be done under the National Environmental Policy Act (NEPA).

Conclusions

Two key exploration targets have been identified to date on the Buckskin Rawhide Property for follow up. The first is the Black Eagle High Grade Vein Target, in the Black Eagle Fault. The second is the Chicago Mountain Bulk Disseminated Target, which may have similar potential to the nearby Rawhide Mine.

Acquisition of the Buckskin Rawhide West Area also provides an area for exploration with similar potential to the Buckskin Rawhide West Area.

The development strategies include advancing the Buckskin Rawhide Property as a stand alone gold/silver exploration project, or alternatively (and subject to agreements with other companies), combining Buckskin Rawhide with other existing properties in the region to create a larger resource and possibly develop a satellite mining operation.

Qualification

Emgold's Qualified Person Mr. Robert Pease, Chief Geologist of the Company, has reviewed and approved the information on this webpage.

References

Muntean, J. L., 2010, Major Precious-Metal Deposits, in the Nevada Mineral Industry 2009: Nevada Bureau of Mines and Geology Special Publication MI-2009.

Vanderburg, W. O., 1937, Reconnaissance of Mining Districts in Mineral County, Nev.: Dept. of the Interior United States Bureau of Mines Information Circular 6941.