EnGold Announces Final Closing of Financing

VANCOUVER, Aug. 10, 2018 - David H. Brett, President & CEO, Engold Mines Ltd., (TSX-V: EGM, "EnGold" or the "Company") reports that the Company has closed the second and final tranche of its brokered private placement with Canaccord Genuity Corp. (the "Agent") acting as agent (refer to news releases dated April 16, 2018, May 1, 2018 and May 17, 2018). The Company has issued 373,333 Flow-Through Units at $0.30 per Flow-Through Unit for gross proceeds of $111,999.90, and 77,000 Common Units at $0.26 per Common Unit for gross proceeds of $20,020.00. The Agent's commissions and expenses were deducted from the proceeds of the sale of Common Units, and 26,133 Agent's warrants were issued in connection with the sale of the Flow-Through Units, and 5,390 Agent's warrants were issued in connection with the sale of the Common Units. All securities issued under the closing of the final tranche are subject to a hold period that will expire on December 11, 2018.

About EnGold

EnGold (www.engold.ca) is focused on exploring its 100% owned mineral property located near the town of Lac La Hache in BC's prolific Cariboo mining region. EnGold's corporate philosophy rests on three interdependent pillars: Environment, Engagement and Gold. Through sound environmental stewardship, commitment to transparent engagement with local communities, the Company is dedicated to driving exceptional shareholder and stakeholder value by discovering and developing mineral resources.

Engold Mines Ltd.
Per/
David Brett, MBA
President & CEO

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.

SOURCE Engold Mines Ltd.