Engineer Gold Provides Underground Exploration Results (Including 547 G/T Gold) for Engineer Gold Mine

Mine Dewatering and 8 Level Underground Sampling Results

On October 23rd, 2019 Engineer reported the Company had successfully de-watered the entire Engineer Gold Mine and initiated an underground geological mapping and panel sampling program on the lowermost 8 Level, which consists of a 1,067 metre network of historic drifts, stopes and crosscuts. This major milestone marked the first time the entire mine has been dewatered since commercial production ceased in 1927.

Unfortunately, due to a catastrophic pump failure, Engineer sampling crews only had 11 days to establish provisional air and water services and conduct a preliminary muck and composite chip sampling program on segments of the Double Decker, Engineer and Shear A Zone on 8 Level. A total of 6 muck samples and 24 composite chip samples were collected during a 4 day sampling program. Assay results are presented in the table below.

Engineer Gold Mine

8 Level Assay Results

Double Decker Vein

Work crews were able to access the production stope at the south end of the Double Decker vein. The stope is estimated at 40 metres in length and up to 10 metres high. Historic miners removed most of the broken ore from the shrinkage stope but the vein can be seen in back of the stope where it is estimated to be 50 cm wide.

Five samples were collected from the muck piles remaining on the stope floor. A sixth sample was collected from inside one of the draw chutes. All six samples were mineralized with two of the samples returning high-grade gold. Samples 151702 and 151702 returned 547 g/t Au and 9.67 g/t Au, respectively. The samples were also enriched in silver and arsenic which is typically associated with gold mineralization at the Engineer Gold Mine.

Engineer Vein

The Engineer Vein was identified on 8 Level as a vuggy quartz/calcite vein ranging from 40 to 70 cm width over a drift length of 193 metres. The width and vein textures are similar to that observed in the 5 Level Bonanza Zone. Due to time constraints, only 9 composite chip samples were collected along a 35 metre strike length.

All 9 samples were mineralized but returned low-grade gold values ranging from 11 to 705 ppb Au. Samples were also elevated in silver and arsenic which is encouraging. Previous work on the 5 Level Bonanza Zone has shown that small chip samples typically underestimate the actual gold grade of the vein due to it high nugget nature.

Jersey Lilly Vein

The Jersey Lilly Vein has been identified on 8 Level within a 77 metre long drift. Preliminary inspection indicates the vein varies from 0.10 metres to 0.60 metres in width. Unfortunately due to time constraints the vein was not sampled this season.

Shear A Zone

Historic drifting of the Shear A Zone is measured to be approximately 255 metres. A total of 15 composite chip samples were collected along a 100-metre length of the drift. Mineralization is open in both directions but work crews only had access to the drift for one day of sampling.

All 15 samples exhibited low grade gold mineralization ranging from 18 ppb to 1.13 g/t Au. The average grade was 340 ppb Au. The stope backs were heavily coated in mud so all the samples collected were completely random. It is encouraging that all of the blind sampling returned elevated gold mineralization with strong silicification and sulphide mineralization.

Exploration Implications

While it is most unfortunate that Engineer work crews had insufficient time to conduct a more thorough underground sampling program on Level 8, results substantiate historic high-grade gold occurring on the Double Decker Vein (547 g/t Au) and continuous lower grade gold occurring within and along the Shear A structure. Sampling results are considered preliminary in nature, and a more concerted program including washing drift walls, geological mapping and detailed sampling along all mineralized vein drifts in their entirety is warranted and proposed for Spring, 2020.

Quality Control

Samples were submitted to ALS Minerals in Whitehorse, Yukon for sample preparation using code PREP-31. A 30 gram pulp was cut and shipped to the ALS Minerals assay lab in North Vancouver, BC where it was analyzed for gold using method Au-AA23. A 0.25 gram pulp was analyzed for a multi-element suite using method code ME-ICP61. Over limits were analyzed by Au-GRA21 and ME-OG62, respectively.

Qualified Person

Mr. Darren O'Brien, P.Geo., a 'Qualified Person' (Q.P.) as defined under Canadian National Instrument NI 43-101, supervised the Engineer Gold Mine underground exploration program, and prepared and reviewed technical aspects of this news release.

About Engineer Gold Mines Ltd.

Engineer Gold is focused on the exploration and development of the 100%-owned, 14,020 ha Engineer Gold Mine Property, centered on the Historic high-grade Engineer Gold Mine situated 32 km southwest of Atlin, B.C. Previous work has identified a small, Inferred high-grade gold Mineral Resource, numerous high-grade vein and shear-hosted bulk-tonnage gold exploration targets and a modest, high-grade gold production opportunity. Engineer Gold is fully permitted for surface and underground exploration drilling, small-scale test mining and on-site milling at the Engineer Gold Mine Property.

For additional information please visit the company website at www.engineergoldmines.com.

Cautionary Note Regarding Forward-Looking Statements

Neither 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.

This news release contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the control of Engineer Gold Mines Ltd. which may cause actual results, performance or achievements of Engineer Gold Mines Ltd. to be materially different from the results, performance or expectation implied by these forward looking statements. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. 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.