EnGold Arranges $350,000 Flow-Through Financing

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EnGold Arranges $350,000 Flow-Through Financing

For Immediate Release. August 7, 2020. Vancouver, BC. David H. Brett, President & CEO,

EnGold Mines Ltd., (TSX-V: EGM, “EnGold” or the “Company”) reports that the Company has

arranged a non-brokered private placement of 4,666,667 flow-through units at a price of $0.075

per unit for gross proceeds of $350,000, subject to TSX Venture Exchange acceptance. The

units consist of one flow-through common share and one half of one warrant, whereby each

whole warrant will entitle the holder to purchase one non-flow-through common share at a price of

$0.10 per share for a period of two years. The net proceeds will be used to explore the

Company’s Lac La Hache Project in the Cariboo region of BC.

The Company expects to pay a 7% finder’s fee in connection with part of the financing consisting

of 7% cash and 7% finder’s share purchase warrants entitling the holder to purchase one non-

flow-through common share at a price of $0.10 per share for one year.

About EnGold

EnGold is a Vancouver-based copper, gold, silver, magnetite exploration company focused solely

on its 100% owned Lac La Hache property in the Cariboo region of BC which hosts the Spout

Copper Deposit, the Aurizon Gold Deposit and the G1 Copper Discovery and other targets within

a large porphyry mineralizing system. With world class infrastructure at its doorstep, Lac La

Hache is a great location to be exploring.

EnGold Mines Ltd.

David Brett

President & CEO

For further info contact David Brett, 604-682-2421 or [email protected]

This news release may contain "forward‐looking statements". Readers are cautioned that any such statements are not

guarantees of future performance and that actual development or results may vary materially from those in these "forward

looking statements.” 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.