EnGold Announces Closing of Flow-Through Financing

VANCOUVER, Dec. 28, 2018 -  David H. Brett, President & CEO, Engold Mines Ltd., (TSX-V: EGM, "EnGold" or the "Company") reports that the Company has closed the non-brokered private placement that was announced on December 17, 2018. The Company has issued 2,003,572 Flow-Through Units at $0.14 per Flow-Through Unit for gross proceeds of $280,500.08 (the "Offering"). Each Flow-Through Unit is comprised of one flow-through common share and one share purchase warrant (a "Warrant"). Each Warrant is exercisable at $0.20 per share for a period of one year. The Company paid a 7% finder's fee ($14,000) in connection with the sale of a portion of the Offering, and issued 100,000 Finder's warrants exercisable at $0.14 for one year. All securities issued are subject to a hold period that will expire on April 29, 2019. The gross proceeds from the Offering will be used for further exploration of the Company's Lac La Hache property in central BC.

About EnGold

EnGold (www.engold.ca) is focused on exploring its 100% owned mineral property located near the town of Lac La Hache in BC's prolific Cariboo mining region. 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 discovering and developing mineral resources.

Engold Mines Ltd.
Per/
David Brett, MBA
President & CEO

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.