Energold Drilling Corp. Announces Appointment of New Independent Director

Trading Symbol: "EGD: TSX.V"

VANCOUVER, June 5, 2018 /CNW/ - Energold Drilling Corp. (EGD: TSX.V) ("Energold" or "the Company" or "Energold Group") is pleased to announce the appointment of Mr. Alastair McBain as an independent director of the Company, effective May 24, 2018.

Mr. Frederick Davidson, CEO and President, of Energold commented as follows: "We are delighted to welcome Mr. McBain to the Board.  Mr. McBain complements the existing composition of the Board and his extensive experience in the oil industry will be extremely valuable for the Company." 

Mr. McBain is a graduate of Oxford University and has over 37 years' experience in the oil industry. He spent the first 17 years of his career with Shell in numerous senior international postings including assignments in Singapore, Dubai, China and Venezuela. Prior to leaving Shell, he worked in their natural gas business with specific responsibility for the development of LNG projects. He joined the Vitol Group in 1995 to head up the growth of the group's portfolio of upstream assets and became CEO of Arawak Energy in September 2002.  Arawak Energy was listed on the Toronto Stock Exchange and was admitted to the London Stock Exchange in July 2008 before being privatized in 2009, becoming a wholly-owned subsidiary of the Vitol Group, the world's largest independent energy trading company.  Mr. McBain serves as Chairman of the Board of Geo-Alliance, a leading independent producer of gas and gas liquids in the Ukraine, which is a joint venture between Arawak Energy and a prominent Ukrainian businessman and philanthropist.  

Energold Drilling Corp. is a leading global specialty drilling company that services the mining, energy, infrastructure, geothermal, water and manufacturing sectors in 25 countries. Specializing in a socially and environmentally sensitive approach to drilling, Energold provides a comprehensive range of drilling services from early stage exploration to onsite operations as well as manufacturing.

On behalf of the Directors of Energold Drilling Corp.,

"Frederick W. Davidson"
President, CEO

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements: Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to proposed activities, work programs and future expenditures. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the effects of general economic conditions, a reduction in the demand for the Company's drilling services, the price of commodities, changing foreign exchange rates, actions by government authorities, the failure to find economically viable acquisition targets, title matters, environmental matters, reliance on key personnel, the ability for operational and other reasons to complete proposed activities and work programs, the need for additional financing and the timing and amount of expenditures. Energold Drilling Corp. does not assume the obligation to update any forward-looking statement.

SOURCE Energold Drilling Group