VANCOUVER, Nov. 6, 2012 /PRNewswire/ – Emerick Resources Corp. (TSX-V: ERC) is
pleased to announce that it has signed a binding Share Purchase
Agreement to acquire all of the outstanding shares of Medgold Resource
Ltd. (“Medgold“), a private company incorporated in England and Wales focused on the
exploration and development of precious and base metals in Western
Europe. (See Emerick news release of May 8, 2012.)

To acquire Medgold, the Company will issue 32,287,500 shares in its
capital stock to Medgold’s shareholders in proportion to their
respective shareholdings in Medgold. Emerick’s resulting issued
capital will be 52,416,078 shares, of which Medgold’s shareholders will
own 61.6%. All outstanding options in Emerick and Medgold will be
cancelled.

Based on the terms of the transaction, Emerick has applied to the TSX
Venture Exchange (the “Exchange”) to have its listing graduated from
the NEX board to Tier 2 of the Exchange as a resource issuer. Upon
completion of the transaction, Emerick will change its name to “Medgold
Resources Corp.”.

The Exchange has conditionally approved the transaction, subject to
approval by Emerick’s shareholders and final approval by the Exchange.
An Annual and Special Meeting of the Shareholders of Emerick will be
held on Friday, November 30, 2012 at which approval to the transaction
will be sought, and the Management Proxy Circular describing the
transaction is available for viewing on www.sedar.com.

Haywood Securities Inc., subject to completion of satisfactory due
diligence, has agreed to act as sponsor to Emerick in connection with
the transaction. An agreement to sponsor should not be construed as
any assurance with respect to the merits of the transaction or the
likelihood of completion.

ON BEHALF OF THE BOARD

“Ralph Rushton”
Ralph Rushton, President & CEO

Symbol: TSXV-ERC.H
Shares Issued: 20.1-million

Neither the TSX Venture Exchange nor the Investment Industry Regulatory
Organization of Canada accepts responsibility for the adequacy or
accuracy of this release.

Forward-Looking Statement

This news release includes certain “forward-looking information” within
the meaning of Canadian securities legislation. Forward-looking
statements include predictions, projections and forecasts and are
often, but not always, identified by the use of words such as “seek”,
“anticipate”, “believe”, “plan”, “estimate”, “forecast”, “expect”,
“potential”, “project”, “target”, “schedule”, budget” and “intend” and
statements that an event or result “may”, “will”, “should”, “could” or
“might” occur or be achieved and other similar expressions and includes
the negatives thereof. All statements other than statements of
historical fact included in this release, including, without
limitation, statements regarding the expected benefits of the
transaction, the completion of the transaction, the receipt of any
regulatory approvals for the transaction and the potential of the
properties are forward-looking statements that involve various risks
and uncertainties. There can be no assurance that such statements will
prove to be accurate and actual results and future events could differ
materially from those anticipated in such statements. Forward-looking
statements are based on a number of material factors and assumptions.
Important factors that could cause actual results to differ materially
from Emerick’s expectations include actual exploration results, changes
in project parameters as plans continue to be refined, future metal
prices, availability of capital and financing on acceptable terms,
general economic, market or business conditions, uninsured risks,
regulatory changes, delays or inability to receive required approvals,
and other exploration or other risks detailed herein and from time to
time in the filings made by Emerick with securities regulators.
Although Emerick has attempted to identify important factors that could
cause actual actions, events or results to differ from those described
in forward-looking statements, there may be other factors that cause
such actions, events or results to differ materially from those
anticipated. There can be no assurance that forward-looking statements
will prove to be accurate and accordingly readers are cautioned not to
place undue reliance on forward-looking statements.

SOURCE Emerick Resources Corp.