EnGold to raise $765,000 in Flow-Through Offering and $240,000 in Non-Flow-Through Offering

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EnGold to raise $765,000 in Flow-Through Offering and $240,000 in

Non-Flow-Through Offering

For Immediate Release. December 10, 2019. 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 up to 9,000,000 flow-through units at a price of

$0.085 per unit (the “FT Units”) for gross proceeds of up to $765,000; and up to 4,000,000 non-

flow-through units at $0.06 per unit for gross proceeds of up to $240,000 (the “Units”), subject to

the acceptance of the TSX Venture Exchange. The FT Units will consist of one flow-through

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 one

year. The Units will consist of one common share and one warrant to purchase one common

share at a price of $0.10 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. Proceeds of the sale

of the Units will be used for general working capital purposes. An 8% finders’ fee consisting of

cash and share purchase warrants will be payable in connection with the financing. The final

tranche of the previously announced $0.11 FT financing will not be proceeding.

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.