Engold Mines Ltd., CA29330R1001

Engold Mines Ltd., CA29330R1001

07.03.2017 - 14:32:22

EnGold to Recommence Drilling at New Discovery Area by March 13th

Vancouver, British Columbia (Newsfile Corp. - March 7, 2017) - David H.Brett, President & CEO, EnGold Mines Ltd., (TSXV: EGM) ('EnGold' or the'Company') reports that a second drill is mobilizing to follow up on arecently announced discovery drill hole and is expected to be set up anddrilling in the new area on or before March 13th. As reported March 1,2017, hole G16-01 targeting a gravity geophysical anomaly encountered 1.76%copper, 0.27 grams per ton gold, 10.29 g/t silver and 35.8% iron over 26.57meters (true width) in a previously undrilled area of the Company's 100%owned Lac La Hache Property in the Cariboo region of BC. Within thisinterval, a 14m thick interval exceeds 2% copper. The skarn-typemineralization is located 1.8 km southeast of the existingcopper-gold-silver-magnetite resource defined at the Spout Deposit.'The effectiveness of the gravity data, combined with our excellentknowledge of the geology of the property, is enabling EnGold to confidentlytarget its next round of drilling,' said EnGold VP Exploration Rob Shives,P. Geo. 'We are looking forward to stepping out from the discovery hole inthis exciting new area of the Lac La Hache Property.'The second drill will focus on the 1 km X 1.4 km gravity geophysicalanomaly that prompted the discovery hole. EnGold has requisitioned anexpanded and more detailed gravity survey that is expected to commencemid-March. The new gravity work will test for extensions of the anomaly,help guide drilling at the new discovery, as well as test for similargravity anomalies on other parts of the property.'EnGold is moving quickly to mobilize capacity to explore this exciting newdiscovery,' said EnGold President & CEO David Brett. 'We are wellpositioned to move forward aggressively and expect the next several monthsto be very active for EnGold.'Vertical drill hole G16-01 intersected semi-massive magnetite-chalcopyrite(minor pyrite) skarn type mineralization over a true width exceeding 26meters. The mineralization appears stratabound, occurring withinsub-horizontal, skarned Nicola volcanoclastic rocks interpreted as thepossible down-dip extension of Spout host rocks. The mineralogy andtextures of the mineralized zone also appears very similar to Spout Depositmineralization.About EnGoldEnGold is focused on finding and developing mining operations at its 100%owned mineral property located near the town of Lac La Hache in BC'sprolific Cariboo mining region. EnGold's corporate philosophy rests onthree interdependent pillars: Environment, Engagement and Gold. Throughsound environmental stewardship, commitment to transparent engagement withlocal communities, the Company is dedicated to driving exceptionalshareholder and stakeholder value by discovering and developing mineralresources.About the Lac La Hache PropertyThe advanced stage property lies within BC's Quesnel Trough mineral belt,which hosts several past and currently producing copper/gold/silver mines,including nearby Imperial Metals' Mount Polley copper-gold mine and NewGold Inc.'s New Afton copper-gold mine. The Company has drilled numerousprospects on the property, including Spout copper-magnetite-gold-silverdeposit (for which a resource calculation has been reported and supportedby an NI43-101 Technical Report), the gold-rich Aurizon gold-copper-silverprospect and recent new discoveries with porphyry and skarn copper/goldpotential. EnGold is currently focused on evaluation of its Aurizon Gold(gold-copper-sliver) prospect, where drilling continues to extend the hoststructure and gold-rich grades, and on the new copper-magnetite-gold-silverdiscovery. Supported by significant local infrastructure includingpowerlines, all season road access, rail and other amenities, the Lac LaHache project demonstrates excellent logistics for resource extraction.Rob Shives P.Geo., VP Exploration and a Qualified Person as defined underNational Instrument 43-101, has reviewed and approved the technical contentof this release.Engold Mines Ltd.Per/David Brett, MBAPresident & CEOFor further info contact David Brett, 604-682-2421 or david@engold.ca[email: avid@engold.ca] This news release may contain 'forward-looking statements'. Readers arecautioned 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.Click on, or paste the following link into your web browser, to viewthe associated documentshttp://www.newsfilecorp.com/release/25523

07.03.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

Language: English

Company: Engold Mines Ltd.

Canada ISIN: CA29330R1001   End of News DGAP News Service

551197  07.03.2017 

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