Engineer Gold Mines Plans Drilling Program Vancouver, BC, Canada – Engineer Gold Mines Ltd. (the "Company") (TSX -V: EAU |
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News Release April 29, 2026
Engineer Gold Mines Plans Drilling Program
Vancouver, BC, Canada – Engineer Gold Mines Ltd. (the "Company") (TSX -V: EAU |
OTC: EGMLF | WKN: A3EEVJ ) announces that Management, along with Consultants,
have completed an in -depth desktop review of its 100% -owned Engineer Gold Project ,
located 30 kilometres southwest of Atlin in northwestern British Columbia. This large
property comprises 18,319 hectares covering a 25 kilometre long contiguous claim block
and hosts the historic Engineer Gold Mine ( “Engineer”), the Wann River Prospect
(“Wann”), the TAG Property (“TAG”), and numerous additional mineral occurrences.
Consolidated by the Company, for the first time in its rich 120-year-old history, the Engineer
District hosts multiple styles of mineralization including high- grade epithermal gold -silver
veins, polymetallic veins (Ag-Pb-Zn ± Au), and structurally controlled bulk tonnage style gold
systems.
Spiros Kletas, President and CEO, commented, “The in- depth and detailed review of the
Engineer Gold Project has been extremely positive and valuable step which has helped
highlight the very large potential of the project. I am very excited about not only the Engineer
mine itself, but the potential shown in other project areas including the Shear Zones adjacent
to Engineer, plus the TAG and Wann.”
Engineer Mine
The historic Engineer Gold Mine is a past -producing, underground gold-silver operation.
Historical production between 1910 and 1952 total led approximately 14,263 tonnes
grading 39.4 g/t (1.15 oz/ton) gold and 19.5 g/t (0.57 oz/ton) silver (BC Minfile 104M014).
Prior mining and exploration work largely concentrated on two of the vein system s – the
Double Decker and Engineer Veins. Existing underground workings provide access to
multiple additional veins, including the Boulder, Governor, Jersey Lilly and Shaft. Access
and production drifts are in place on the lowermost four levels of the eight -level mine, with
good potential for additional high-grade mineralization at depth and along strike.
The property hosts a n historic Inferred Mineral Resource as defined under National
Instrument 43-101, which includes only the Engineer and Double Decker veins, (Snowden,
2011, amended and restated in 2018, O’Brien et al - www.sedarplus.ca).
The resource is based on a 5.0 g/t gold cut -off and a minimum mining width of 1 metre.
Within this estimate is a higher-grade subset as shown in the table below:
ENGINEER GOLD MINES LTD.
1100 - 1111 MELVILLE ST
VANCOUVER, B.C. CANADA V6E 3V6
TELEPHONE: 604-669-6463
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Category Tonnes (t) Cut-off
(Au g/t)
Grade
(Au g/t)
Grade
(Au oz/ton)
Contained
Gold (oz)
Inferred 41,000 5.0 19.0 0.55 25,000
Inferred
(higher grade
sub-set
14,000 25.0 52.5 1.53 23,600
A qualified person has not done sufficient work to classify the historical estimates referenced
herein as current mineral resources or mineral reserves and the Company is not treating
the historical estimate as current mineral resources or mineral reserves.
Adjacent to the vein systems are two important mineralized structures - Shear Zone ‘A’ and
‘B’. Both shears host significant widths of hydrothermal breccia containing bulk tonnage
style gold mineralization.
A diamond drilling permit is in place and the company plans to conduct a multi -phase drill
program commencing this summer to test both the down dip and strike extensions of the
high grade vein hosted gold-silver mineralization and the extent of the bulk tonnage lower -
grade gold structures . Details of the exploration program will be announced as they are
finalized.
Wann River Prospect
The Wann River prospect is located 4 kilometres south of the Engineer Mine and represents
a highly prospective, underexplored target. Exploration work to date has identified a
mineralized corridor approximately 800 metres by 180 metres in extent.
Historic diamond drilling of 17 holes in 2011 returned numerous gold and silver intercepts.
The most significant intervals were from hole WR030211 which assayed 11.3 g/t Au
and 76.2 g/t Ag over 1 m, and hole WR040111 assaying 11.3 g/t Au and 94.8 g/t Ag
over 1.0 m (Aspinall, 2011; BC ARIS Report #32478).
In addition to prior drilling, Wann River has undergone several surface sampling program s
which returned good gold- silver and base metal values. Select historical grab sample
results include (Aspinall, 2011; BC ARIS Report #32004)*:
Area Sample
Type
Au
(g/t)
Au
(oz/ton)
Ag
(g/t)
Ag
(oz/ton)
Additional
Metals
Lum Trenches Grab 263 7.67 1350 39.37 Cu, Pb, Zn
Newfie Grab 15.9 0.46 440 12.83 Pb
Trail Grab 32.9 0.96 1180 34.43 Cu, Pb
River Vein Grab — — 126 3.67 —
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*Grab samples are selective in nature and may not be representative of the mineralization
on the property.
The historical 2011 Technical Report (Snowden, 2011 - https://www.sedarplus.ca)
recommended a significant exploration program on the Wann River prospect , including
diamond drilling to evaluate the southeastern sector of the mineralized corridor, a ground
magnetic geophysical survey to support geological mapping, and additional prospecting,
mapping, and sampling. The Company is planning follow -up exploration programs to
advance groundwork in the coming field season.
TAG Property
The TAG Property is located approximately 6 kilometres north of the historic Engineer Mine
and is associated with a structurally controlled mineralized system related to the Llewellyn
Fault. An historical mineral resource estimate (Reddick and Armstrong, 2009 for CZM
Capital Corp., www.sedarplus.ca), using a minimum core length of 2.0 metres and a cut-off
grade of 3.0 g/t gold equivalent, reported:
• Indicated: 250,000 tonnes grading 2.97 g/t Au and 12.09 g/t Ag
• Inferred: 400,000 tonnes grading 2.98 g/t Au and 9.91 g/t Ag
A qualified person has not done sufficient work to classify the historical estimates referenced
herein as current mineral resources or mineral reserves and the Company is not treating
the historical estimate as current mineral resources or mineral reserves.
As soon as conditions allow, the company will conduct a relogging and sampling program
on the existing diamond drill core along with planning additional exploration work to facilitate
completing an updated resource estimate for TAG.
In 2026, t he Company also intends to evaluate the potential reactivation of previously
permitted activities, including dewatering of the lower levels of the Engineer M ine and
complete a bulk sample of up to 10,000 tonnes, subject to regulatory approvals. These
activities are expected to support further evaluation of the deposit and potential expansion
of mineralized zones. The Company believes the Engineer Mine presents a compelling
opportunity for continued resource development and evaluation of potential small -scale
production from existing underground workings.
Qualified Person
The scientific and technical information contained in this news release has been reviewed
and approved by Linda Dandy, P.Geo., a Qualified Person as defined by National Instrument
43-101. Ms. Dandy is independent of the Company and is a registered Professional
Geoscientist (P.Geo.) in British Columbia, Canada.
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About Engineer Gold Mines Ltd.
The Engineer Gold Project encompasses approximately 18,319 hectares in northwestern
British Columbia and is subdivided into three principal target areas: the Engineer Gold Mine,
the TAG Property, and the Wann River prospect.
The Project hosts a historical gold mineral resource at the past -producing underground
Engineer Mine, as well as a historical gold-silver mineral resource on the TAG Property. In
addition, the district contains numerous high-grade vein and shear-hosted gold targets with
both bulk -tonnage and high- grade exploration potential, and a potential opportunity for
small-scale production.
Mineralization at the Engineer Mine and TAG Property is characteristic of epithermal -style
systems, with additional epithermal targets identified across the Project, including the Happy
Sullivan area. The Wann River prospect represents an orogenic gold target associated with
the prolific Llewellyn Fault and has returned significant gold and silver values, including a
grab sample of 263 g/t (7.67 oz/ton) gold and 1,350 g/t (39.37 oz/ton) silver from the Lum
showing.
Historical resources referenced herein are considered relevant but have not been verified
by a Qualified Person and should not be relied upon.
On Behalf of the Board of Directors
“Spiros Kletas”
Spiros Kletas
CEO, President & Director
For further information please contact:
Engineer Gold Mines Ltd.
Tel: +1 604-669-6463
E-Mail: [email protected]
Website: engineergoldmines.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as defined in the
policies of the TSX Venture Exchange) has reviewed this news release and does not accept
responsibility for the adequacy or accuracy of its contents.
Disclaimer for Forward-Looking Information
This news release contains “forward- looking statements” or “forward- looking information”
(collectively, “forward-looking statements”) within the meaning of applicable securities laws.
These statements are not statements of historical fact and may include, without limitation,
statements regarding the Company’s beliefs, plans, expectations, intentions, objectives,
strategies, future performance, and anticipated events or results.
Forward-looking statements are based on management’s current expectations, estimates,
and assumptions, which are subject to change and may ultimately prove to be inaccurate.
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Such statements involve known and unknown risks, uncertainties, and other factors that
could cause actual results, performance, or achievements to differ materially from those
expressed or implied in the forward-looking statements.
There is no assurance that the anticipated events or outcomes described in these forward-
looking statements will occur, or, if they do occur, what benefits Engineer Gold Mines will
derive from them. Factors that could cause actual results to differ materially include, but are
not limited to, exploration results, the availability of fina ncing, fluctuations in commodity
prices, permitting and regulatory risks, operational risks, and other risks detailed in the
Company’s public disclosure record.
Forward-looking statements contained in this release are made as of the date hereof, and
Engineer Gold Mines assumes no obligation to update or revise them to reflect new
information, future events, or otherwise, except as required by applicable securities laws.
Readers are cautioned not to place undue reliance on forward-looking statements.
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