Engineer GOLD Mines Ltd.
ENGINEER GOLD MINES
LTD.
804 - 750 West Pender Street Vancouver, B.C. V6C
2T7
Telephone: 604-682-2928
Fax: 604-685-6905
www.engineergoldmines.com
TSXV: EAU OTCQB: EGMLF
APPOINTMENT OF DIRECTOR
November 23, 2022 - Vancouver, Canada – Engineer Gold Mines Ltd. (the “Company”)
(TSX.V: EAU) is pleased to announce that Mr. Monty Sutton has been appointed Director of the
Company.
From October 2020 through November 2022 Mr. Sutton was employed as CFO for Exploits
Discovery Corp. During his tenure at Exploits the company raised over $26 million for exploration
on their Newfoundland gold projects. Monty’s ear lier accounting career included positions as a
Senior Management Accountant with MacMillan Bloedel preparing budgets, analyzing costs, and
assisting in the design and implementation of new systems as well as working with several private
companies in various accounting, consulting, and advisory roles.
Mr. Sutton worked most of his career as an investment advisor, trader, and insurance specialist
with PI Financial Corp. in Vancouver. During this time he participated in raising over $100 million
for junior mining companies and managed over 1,500 client accounts. On the public market side
of the exploration business, Mr. Sutton was the Corporate Development Manager with eCobalt
Solutions as they completed a base shelf prospectus for $100 Million, raising over $30 million for
the development of their Idaho Cobalt Project. Monty Sutton’s first experience in the investment
industry was a brief stint on the Vancouver Stock Exchange trading floor in 1987.
In regards to the private placement that closed its first tranche on November 10, 2022, the
Company has been granted a 30 day extension to close the private placement.
About the Properties
Engineer Gold Mine: The Engineer Gold mine is a narrow vein past producing underground gold
mine with an Inferred Mineral Resource of 41,000 t grading 19.0 g/t gold for 25,000 oz contained
gold. The resource uses a cutoff grade of 5 g/t Au and assumes a 1m minimum mining width,
which is similar to historical mining . It includes all material inside the mineralized shoots and is
based on the payability (stope) limits. Within this resource is a higher -grade core of 14,000t
grading 52.5 g/t gold (25 g/t gold Cut -Off) containing 23,600 oz contained gold. The resource
grade was reconciled to a bulk tonnage sample which contained 175 tonnes at 23.9 g/t Au which
is 16% higher than the resource grade of 20.6 g/t Au for the Engineer portion of the resource.
This is considered acceptable for a nuggety gold deposit and exemplifi es the potential
conservatism of the 2018 resource. This resource estimate was initially calculated by Snowden
Mining Industry Consultants Ltd. in 2011 and re-stated in the 2018 NI 43-101 Technical Report.
Note that this resource estimate predates the 2019 CIM Guidelines for NI 43-101 reporting. The
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Company has done no further work to confirm this historical resource and should not be relied
upon.
Tag: The Tag area covers the 025 or Main zone, which contains an historical mineral resource
estimate including 250,000 tonnes of Indicated material at average grades of 2.97 g/t Au and
12.09 g/t Ag, and an Inferred resource of 400,000 tonnes at average grades of 2.98 g/t Au and
9.91 g/t Ag. The resource estimate was calculated using the polygonal method with ver tical
section at 50m spacing, and grades composited over a minimum length of 2.0 meters. The Au
was capped at a value of 4 g/t and Ag was capped at 25 g/t. Underground mining was assumed
with all material having a minimum composited length of 2m, within th e interpreted shapes and
above the cutoff assumed to be amenable to underground mining. The cut -off grade used was
3.0 g/t gold equivalent, calculated with a silver to gold ratio of 59.927. This historical resource was
published as an NI 43 -101 report file d on SEDAR entitled "Technical Report on Resource
Estimates for the Tag Property, Northern British Columbia", prepared for CZM Capital Corporation
by Reddick Consulting Inc. and dated December 29, 2009. Note that this estimate predates the
2019 CIM Guidelines for NI 43-101 reporting. The Company has done no further work to confirm
this historical resource and should not be relied upon.
Wann River: The Wann River area has seen grab samples from the Lum showing with up to 263
g/t Au and 1350 g/t Ag reported in 2010. Adjacent to the prolific Llewellyn fault, the Wann River
project holds potential for significant further exploration and discovery.
For additional information please visit the company website at www.engineergoldmines.com.
On Behalf of the Board of Directors
Engineer Gold Mines Ltd.
“Christopher Huggins”
Mr. Christopher Huggins
President
Contact Information:
Christopher Huggins: 604-968-4844
Email: [email protected]
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.