EnGold Mines Ltd. — Capital/Financing Update 2020

Feb 4, 2020

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EnGold Closes Tranche of Non-Flow-Through Units

For Immediate Release . February 4, 2020. Vancouver, BC. David H. Brett, President & CEO, EnGold Mines Ltd., (TSX-V: EGM, “EnGold” or the “Company”) reports that the Company has closed the a further tranche of the non-brokered private placement announced December 10[th] , 2019, and issued 833,333 Non-Flow-Through Units (“NFT Units”) at a price of $0.06 per NFT Unit for gross proceeds of $50,000. The NFT Units consist of one common share and one warrant, and each warrant entitles the holder to purchase one common share at a price of $0.10 per share for a period of one year. The proceeds from the sale of the NFT Units will be used for general working capital.

No finder’s fees were paid in connection with the issue of the NFT Units. All of the securities are subject to a hold period which will expire on June 4, 2020. The Company will continue with the offering of non-flow-through units as previously disclosed.

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 david@engold.ca

‐ 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.

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