EnGold Provides Corporate Update
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EnGold Provides Corporate Update
For Immediate Release . February 13, 2023. Vancouver, BC. David H. Brett,
President & CEO, EnGold Mines Ltd., (TSX -V: EGM, “En Gold” or the
“Company”) provides the following update on the Company’s activities.
GoldSpot AI Consulting Engagement
As announced on September 14, 2022 , EnGold engaged leading Artificial
Intelligence and Machine Learning team GoldSpot Discoveries to analyze the
Company’s significant exploration database related to its 100% owned Lac La
Hache Copper Gold Property with the goal of generating new and improved drill
targets. This work is expected to conclude before the end of February 2023.
Following EnGold’s engagement of GoldSpot, the parent company Earthlabs sold
its GoldSpo t consulting business to ALS Global , one of the world ’s largest
analytical testing firms. The business transition was seamless for EnGold, with
the GoldSpot professional team, project objectives, and technology unchanged.
“We have been working closely with the GoldSpot team, ensuring that the largest
amount and best quality data is leveraged in this exciting process, ” said EnGold
VP of Exploration Rob Shives, P.Geo. “The high potential alkalic porphyry
system at Lac La Hache is a complex, multi-deposit environment with abundant
opportunity for resource expansion and new discovery.”
“GoldSpot’s state -of-the-art technology and expert ise will help EnGold tell the
compelling Lac La Hache story, ” said EnGold President & CEO David H. Brett.
“With pundits predict ing a global shortage of copp er in the not-too-distant future,
the urgency to explore and develop Lac La Hache has never been greater.”
Eisler Litigation
The Company is pleased to report that EnGold has reached a settlement with the Estate
of former EnGold CEO Irvin Eisler (terminated in 2011) with respect to payment of legal
costs arising out of the ultimately successful wrongful termination action he commenced
against the Company in 2015, including an award of costs. As disclosed in the
Company’s most recent audited financial statements, the total estimated court costs
payable by EnGold on behalf of the plaintiff were $663,923, of which $140,000 was paid
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during the year ended September 30, 2021. EnGold had contested the quantum of the
costs, and a seven-day hearing on the matter was set down for April 2023. Via
mediation, the parties agreed to a significantly reduced amount of money. Per the
arrangement, EnGold will pay the estate of Irvin Eisler $355,000 in installments as
follows:
Feb 17, 2023: $140,000 (paid, in part from $121,000 already in trust)
July 1, 2023: $55,000
Dec 1, 2023: $55,000
Jun 1, 2024: $55,000
Dec 1, 2024: $50,000
“This settlement marks the end of a very long chapter of litigation with several former
managers and employees of the Company,” said EnGold President & CEO David H.
Brett. “We’re looking forward to redoubling our exploration efforts at the Lac La Hache
Property, the key asset of the Company since 1987.”
PDAC and Kamloops Exploration Group Conferences:
EnGold President CEO David Brett and VP Exploration Rob Shives will be attending the
annual PDAC Convention as delegates, March 5 – 8, 2023 in Toronto, Ontario.
Also, EnGold will be an exhibitor with a booth at the annual KEG Conference in
Kamloops, BC, April 4th & 5th, 2023.
Prince George Investor Meeting
The Company is arranging an investor engagement event in Prince George, BC on
Friday, April 7th in the afternoon. The time and location of the event is to be announced.
To be alerted with details about this event and others, please subscribe to EnGold’s
mailing list via this webpage.
About EnGold
EnGold is a Vancouver -based copper , gold, silver, magnetite exploration company
focused solely on its 100% owne d 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 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
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President & CEO
For further info contact David Brett, 604-682-2421 or [email protected]
This news release contains “forward ‐looking statements” within the meaning of Canadian securities
legislation. Forward‐looking statements include, but are not limited to, the expected use of proceeds of the
financing. Such statements and information are based on numerous assumptions regardi ng present and
future business strategies and the environment in which EnGold will operate in the future . Certain important
factors that cou ld cause actual results, performances or achievements to differ materially from those in the
forward‐looking stateme nts include, amongst others, the global economic climate, dilution, share price
volatility and competition. Although EnGold has attempted to identify important factors that could cause
actual results to differ materially from those containe d in forward ‐looking statements, there may be other
factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that
such statements will prove to be accurate, as actual results and future events could differ mater ially from
those anticipated in such statements. Accordingly, readers should not place undue reliance on
forward‐looking statements. EnGold does not undertake to update any forward‐looking statements, except in
accordance with applicable securities laws.