Energold Drilling Corp. Completes $20 Million Bought Deal Financing

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

VANCOUVER, BRITISH COLUMBIA -- (Marketwire - March 21, 2012) - Energold Drilling Corp. ("Energold") (TSX VENTURE: EGD) is pleased to announce that it has completed its previously announced bought deal private placement financing (the "Offering"). A total of 3,900,000 common shares (the "Shares") of Energold were issued at a price of $5.20 per Share for aggregate gross proceeds of $20,280,000 pursuant to an underwriting agreement between Energold and a syndicate of underwriters led by TD Securities Inc., and included Jennings Capital Inc. and Beacon Securities Limited (collectively, the "Underwriters").

In consideration for their services, the Underwriters were paid a cash commission of 6% of the gross proceeds of the Offering and non-transferable common share purchase warrants (each, a "Compensation Warrant") equal to 6% of the Shares issued pursuant to the Offering. Each Compensation Warrant entitles the holder to acquire one common share of Energold at an exercise price of $5.20 during the 24 month period following the date hereof. All securities issued under the Offering are subject to a four-month hold period expiring on July 22, 2012.

The net proceeds from the Offering will be used for the construction and development of new rigs and for working capital purposes.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold directly or indirectly within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) absent registration or unless an applicable exemption from such registration is available.

Energold Drilling Corp. is a global contract diamond drilling company servicing the mining and energy industry. Throughout its operations in the developing world, Energold emphasizes an environmentally and socially sensitive approach to drilling. Energold also holds 6.98 million shares of IMPACT Silver Corp.


On behalf of the Directors of Energold Drilling Corp.,

Frederick W. Davidson
President, CEO



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, the price of commodities, changing foreign exchange rates, actions by government authorities, 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. IMPACT does not assume the obligation to update any forward-looking statement.

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.



Contact Information

Energold Drilling Corp.
Jerry Huang
Manager, Investor Relations
(604) 681 9501
(604) 681 6813 (FAX)
info@energold.com
www.energold.com