EnGold Arranges $280,000 Financing

VANCOUVER, Dec. 17, 2018 - David H. Brett, President & CEO, Engold Mines Ltd., (TSX-V: EGM, "EnGold" or the "Company") reports that the Company has arranged a non-brokered private placement of up to 2,000,000 flow-through units at $0.14 per unit, whereby each unit will consist of one flow-through common share and one warrant to purchase one non flow-through share at a price of $0.20 for a period of one year for gross proceeds of $280,000, subject to the approval of the TSX Venture Exchange. The proceeds will be used to further explore the Company's 100% owned Lac La Hache Property in the Cariboo region of BC.

A portion of the placement will be subject to finder's fees of 7% in cash and 7% broker warrants to purchase non-flow-through common shares at $0.14 for one year.

About EnGold

EnGold is a Vancouver-based copper/gold exploration company focused solely on its 100% owned Lac La Hache property in the Cariboo region of BC. EnGold's vision is to identify and delineate mineral resources at Lac La Hache that could potentially support an economically feasible and environmentally sustainable underground mining operation. The Spout Deposit, the Aurizon Gold Deposit and the 2017 G1 Copper Discovery, located within a 7-kilometer area on the property, are all considered by EnGold to be potentially underground minable targets. With world class infrastructure at its doorstep, Lac La Hache is a great location to be exploring. EnGold's corporate philosophy rests on three interdependent pillars: Environment, Engagement and Gold. Through sound environmental stewardship, commitment to transparent engagement with local communities, the Company is dedicated to driving exceptional shareholder and stakeholder value by fulfilling its vision to profitably supply valuable and much needed metals to the global marketplace.

Engold Mines Ltd.

David Brett
President & CEO

This news release may contain "forward?looking statements". Readers are cautioned that any such statements are not guarantees of future performance and that actual development or results may vary materially from those in these "forward looking statements." Neither the 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.

SOURCE Engold Mines Ltd.