EnGold Mines Ltd. — Capital/Financing Update 2020

Mar 18, 2020

EnGold Grants Incentive Stock Options

Vancouver, British Columbia--(Newsfile Corp. - March 17, 2020) - David H. Brett, President & CEO, EnGold Mines Ltd., (TSXV: EGM) ("EnGold" or the "Company") reports that the board of directors has approved the granting of incentive stock options to directors, employees and consultants to purchase 2,630,000 common shares at a price of $0.10 for a period of three years (the "Options"), subject to the approval of the TSX Venture Exchange. The Options are to replace 2,180,000 granted in 2017 that have expired, plus a new grant to a newer director with no previously held options, and to certain consultants. Following the grant, the Company will have 1,090,000 outstanding options at $0.40 and 2,630,000 at $0.10 for a total of 3,720,000 incentive options, representing 1.67% of the issued and outstanding shares of EnGold.

EnGold Mines Ltd.

Per/

David Brett, MBA 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.

==> picture [121 x 28] intentionally omitted <==

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/53556