EnGold Reports Initial Results of Ann North Drilling
Vancouver, April 22, 2020 - David H. Brett, President & CEO, Engold Mines Ltd., (TSXV: EGM) ("EnGold" or the "Company") reports that assay results from the first 604 metres of its planned 800 m Ann North drill hole on EnGold's 100% owned Lac La Hache Property in the Cariboo Region of Central BC have returned anomalous copper, gold and molybdenum results, confirming the metalliferous nature of the porphyry environment. Assay values correlate with alteration and fracturing intensity observed throughout drill core. Drilling of the final 200 metres and hole deviation surveying will commence when believed safe under Covid-19 health restrictions. Assay results are tabulated below.
"We're looking forward to surveying and completing the hole as soon as possible," said EnGold President & CEO David Brett. "EnGold management remains enthusiastic about the potential for a Cadia/Red Chris style discovery on this part of the multi-zone Lac La Hache property."
"Although drilling has not reached the planned target depth, zones with intense potassic alteration and moderate development of thin stockwork fracturing within the quartz-bearing monzonite/monzodiorite correlate with increased grades for copper, gold and locally, molybdenum" said Rob Shives, VP Exploration. "Quartz-bearing intrusive phases, and molybdenum, are not observed elsewhere at Lac La Hache within the alkalic Peach intrusions. Sulphides +/- quartz, associated with thin fractures/veins, include chalcopyrite, bornite, possibly chalcocite, and pyrite. A wider (20cm core length) quartz-carbonate-sulphide vein carried 2.11 % Cu, 0.63 gpt Au and 6.3 gpt Ag."
DDH AN20-1 assays are reported below for all intervals sampled to date
(174 samples totalling 343.18 metres of drill core.
| From | To | Interval | Cu | Au | Ag | Mo | |
| m | m | m | % | gpt | gpt | ppm | |
| 9.14 | 23.00 | 13.86 | 0.02 | 0.01 | 0.36 | 4.68 | |
| 59.00 | 69.00 | 10.00 | 0.20 | 0.07 | 0.62 | 3.20 | |
| incl | 65.00 | 67.00 | 2.00 | 0.54 | 0.19 | 1.40 | 6.00 |
| 97.00 | 105.00 | 8.00 | 0.10 | 0.07 | 0.43 | 3.25 | |
| incl | 101.00 | 103.00 | 2.00 | 0.29 | 0.21 | 1.10 | 3.00 |
| 219.00 | 298.00 | 79.00 | 0.08 | 0.04 | 0.29 | 11.31 | |
| incl | 229.00 | 231.00 | 2.00 | 0.24 | 0.08 | 0.60 | 1.00 |
| 298.00 | 308.00 | 10.00 | 0.21 | 0.07 | 0.76 | 7.00 | |
| incl | 298.00 | 302.00 | 4.00 | 0.25 | 0.09 | 0.90 | 7.50 |
| 308.00 | 396.15 | 88.15 | 0.10 | 0.03 | 0.37 | 53.30 | |
| incl | 388.00 | 390.00 | 2.00 | 0.13 | 0.05 | 0.80 | 1820.00 |
| 396.15 | 410.00 | 13.85 | 0.28 | 0.08 | 0.25 | 106.21 | |
| incl | 396.15 | 400.00 | 3.85 | 0.37 | 0.11 | 1.19 | 335.84 |
| incl | 398.45 | 398.65 | 0.20 | 2.11 | 0.63 | 6.30 | 913.00 |
| 410.00 | 503.00 | 93.00 | 0.11 | 0.03 | 0.19 | 18.08 | |
| 507.00 | 515.00 | 8.00 | 0.06 | 0.00 | 0.10 | 3.50 | |
| 521.00 | 525.00 | 4.00 | 0.11 | 0.01 | 0.10 | 11.00 | |
| 571.70 | 579.00 | 7.30 | 0.09 | 0.03 | 0.15 | 5.73 | |
| 596.00 | 604.02 | 8.02 | 0.09 | 0.03 | 0.15 | 4.50 |
All reported intervals are core lengths only as the geometry of the zone has yet to be determined.
In other news, EnGold continues to work with SRK on its previously announced maiden resource calculation for the G1 Copper Zone and a recalculation of the Spout Copper Deposit using a high grade model.
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 shareholder and stakeholder value by discovering and developing mineral resources.
Rob Shives P.Geo., VP Exploration and a Qualified Person as defined under National Instrument 43-101, has reviewed and approved the technical content of this release.
Engold Mines Ltd.
Per/
David Brett, MBA
President & CEO
Contact: David Brett, 604-682-2421 or david@engold.ca
Forward Looking Statements: The information in this news release contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry and failure to obtain regulatory approval in a timely manner. Forward-looking statements in this release include statements regarding plans to raise financing for operations, future exploration programs and operation plans and anticipated timing for completion of the next tranche of the financing. Although we believe the expectations reflected in our forward looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements. EnGold disclaims any obligations to update or revise any forward looking statements whether as a result of new information, future events or otherwise, except as may be required by applicable law.
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