EnGold Closes $400,000 First Tranche of Flow-Through Financing

EnGold Closes $400,000 First Tranche of Flow-Through

Financing

For Immediate Release. December 17, 2019. Vancouver, BC. David H. Brett, President & CEO,

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

closed the first tranche of the non-brokered private placement announced December 10th, 2019,

and issued 4,705,882 FT Units for gross proceeds of $400,000. The FT Units consist of one flow-

through share and one-half of one warrant, whereby each whole warrant entitles the holder to

purchase one non-flow-through common share at a price of $0.10 per share for a period of one

year. The proceeds from the sale of the FT Units will be used to incur qualifying exploration

expenditures on EnGold’s 100% owned copper, gold, silver, and magnetite Lac La Hache

property in the Cariboo region of BC.

The Company paid an 8% finders’ fee in connection with the financing consisting of 8% cash and

8% finders’ share purchase warrants entitling the holders to purchase one non flow-through share

at a price of 10 cents for one year. All of the securities are subject to a hold period which will

expire on April 17, 2020. The Company will continue with the offering of flow-through and non-

flow-through units as previously disclosed.

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.