Emgold Mining Corporation Receives Buy Recommendation from Tormont50 Research - Video Available on Investmentpitch.com

Vancouver, British Columbia--(Newsfile Corp. - May 23, 2019) - Today's buy recommendation comes from Tormont50 Research, the research platform of financial advisor firm the Tormont Group, which features growth opportunities in the small and microcap space. Analyst Jim McFadden gives Emgold Mining Corporation (TSXV: EMR) (OTC Pink: EGMCF) a fair value estimate of $0.40 per share, a premium of 150% to the $0.16 price on April 11th, the day the report was issued.

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Emgold is a growth-oriented junior mining company with a number of key assets. Led by CEO David Watkinson, an industry veteran with 30 years experience in underground and open pit mine development, the company executed 3 significant transactions in late 2018.

In December 2018, Emgold sold its Troilus North Property to Troilus Gold Corp. for $250,000 in cash and 3.75 million shares of Troilus Gold. Troilus Gold, an emerging gold producer with its principal operations in Quebec, is currently trading at $0.58, which values Emgold's holding at $2,175,000.

Analyst Jim McFadden stated: "After factoring in the value of Emgold's stake in Troilus Gold Corp. we believe the market is according little value to Emgold's remaining key projects. If Troilus shares were to appreciate to a still-reasonable price of $2.00…that would by itself imply about a 50% increase in Emgold's share price."

In December 2018, Emgold signed an option to acquire a 91% interest in the 10,000 hectare Casa South Property in Quebec, located just south of Hecla Mining's Casa Berardi Mine. Hecla recently updated its proven and probable mineral resource estimate for its Casa Berardi property, which accounts for 35% of Hecla's revenues, reporting around 1.91 million ounces of gold.

Emgold recently completed a 3,000 meter diamond drill program in the Kama Trend and expects to release assay results in May. If Emgold's program were ultimately to lead to a substantial discovery, McFadden believes that Hecla would be a natural potential acquirer of Emgold's Casa South property.

In October 2018, the company acquired a 100% interest in the 7,000 acre Golden Arrow Property from Nevada Sunrise Gold for $100,000 cash and 5 million shares. A key positive for Golden Arrow is its location: along the northeastern margin of the Walker Lane structural zone in Nevada, a trend well known for bulk disseminated gold deposits.

In a September 2018 report, Mine Development Associates estimated that Golden Arrow contained measured and indicated mineral resources of 296,500 ounces of gold and 4 million ounces of silver. Based on drilling records collected by previous companies over the past 20 years, gold and silver exist both in high-grade vein-hosted mineralization and in more widespread and disseminated depositions in the gold Coin and Hidden Hill zones of the Golden Arrow Property. The company has a completed plan of Operations and Environmental Assessment that allows for a major drill program, which the company anticipates in the second half of 2019.

Analyst Jim McFadden added: "If we were to factor in the possibility of enhanced value from the Golden Arrow and Casa South Properties, as well as a more appropriate valuation of Troilus Gold shares, Emgold's fair value could be $0.60 or more. We believe that Emgold shares have significant upside potential with very little downside risk. Emgold should benefit from a number of potentially constructive news releases over the course of 2019 that could act as catalysts for the stock."

For more information about the company and its other projects, please visit the company's website, www.emgold.ca, contact David G. Watkinson, P.Eng., President and CEO, at 530-271-0679 ext 101, or email info@emgold.com.

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