Vancouver, British Columbia--(Newsfile Corp. - January 24, 2022) - David H. Brett, President & CEO, EnGold Mines Ltd., (TSXV: EGM) ("EnGold" or the "Company") reports that EnGold has reached an agreement with Pacific Empire Minerals Corp ("Pacific Empire,") to acquire the LLH1 mineral claim, comprising 1,315 hectares, for consideration of a 2% NSR of the claim, purchasable by EnGold at any time for $1,000,000. The area of the claim adjoins EnGold's Lac La Hache Property in the Cariboo region of BC and is the same property as the tenures that were part of the "Red Joint Venture" entered into by EnGold & Pacific Empire in 2016 that ended in 2018.
In other news, assay results from the Company's 2021 deep drilling program remain pending due to long delays at assay labs and the large volume of samples submitted. Due to the delay in results, EnGold has delayed the start of the next phase of its deep drilling program by one month to March 1, 2022.
"Acquisition of the Red JV ground rounds out our land package and makes EnGold's preexisting Red Claim contiguous with the rest of the Lac La Hache Property," said EnGold President and CEO David Brett. "The Lac La Hache Property is a district-scale land package now comprising a total of 28,873.5 hectares (280 square kilometres)."
Rob Shives P.Geo., VP Exploration and a Qualified Person as defined under National Instrument 43-101, has reviewed and approved the technical content of this release.
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 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 david@engold.ca
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 regarding present and future business strategies and the environment in which EnGold will operate in the future. Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward‐looking statements 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 contained 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 materially 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.
