EnGold Corporate Update

EnGold Corporate Update

For Immediate Release . August 4, 2021. Vancouver, BC. David H. Brett, President &

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

Company’s planned share conso lidation (on a 10 for 1 basis) will become effective on

Friday, August 6, 2021 (the “Effective Date”). The Company’s common shares are

expected to commence trading on a post-consolidation basis on the Effective Date

under the new CUSIP/ISIN numbers 29330R 308/CA29330R3080. Following

completion of the consolidation, the Company will have approximately 25,661,544

common shares issued and outstanding.

The share consolidation was approved by the shareholders of the Company at its recent

Annual and Special Gen eral Meeting and has been approved by the TSX Venture

Exchange. A letter of transmittal will be mailed to all registered shareholders with

instructions on how to exchange their existing share certificates for new share

certificates. A copy of the letter of transmittal will also be available on the Company's

profile on SEDAR. Shareholders who hold their common shares through a securities

broker, dealer, bank or other financial institution are not required to take any action with

respect to the consolidation and should contact that intermediary for their post -

consolidation positions. No fraction al common shares will be issued. Instead, each

fractional share that is less than 1/2 of a share will be cancelled and each fractional

share that is at least 1/2 of a share will be rounded up to the next whole number.

As announced on May 25, 2021, the Company arranged, subject to the sh are

consolidation referenced herein, an $8,000,000 non-brokered private placement of flow-

through units (“Units”) on a post consolidation basis (the “Financing”). The Financing

comprises of 1 6,000,000 units at a price of $0.50 per Un it. Each U nit consists of one

flow-through share and one -half of one warrant whereby each whole warrant will entitle

the holder to purchase one common share at a price of $0.75 for period of two years

from the date of issuance. The Company expects to close the Financing in two equal

tranches of $4,000,000, with the first tranche closing on or before August 13, 2021, and

the second tranche closing shortly thereafter.

Further to the Company’s news release dated July 16, 2021, the Company paused its

drill program at its Lac La Hache Property due to the high risk of wildfires in the Cariboo

region. At this time, the wildfire risk remains high and management does not anticipate

restarting its exploration prior to the first week of September, 2021.

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

Deposit and other explor ation 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.