EnGold Mines Ltd. — Capital/Financing Update 2020

Aug 17, 2020

BC FORM 51-102F3

MATERIAL CHANGE REPORT

REPORTING ISSUER

Engold Mines Ltd. 120 – 601 West Cordova Street Vancouver, BC V6B 1G1

Date of Material Change

August 17, 2020

Press Release

A press release announcing the following material change was released on August 17, 2020 in Vancouver, BC through the facilities of Newsfile and Stockwatch pursuant to 85(1) of the BC Securities Act.

Summary of Material Change

The Issuer reports that it has closed a non-brokered private placement of 4,666,667 flowthrough units at a price of $0.075 per unit for gross proceeds of $350,000. The units consist of one flow-through common share and one half of one warrant, whereby each whole warrant will entitle the holder to purchase one non-flow-through common share at a price of $0.10 per share for a period of two years. All securities issued under the financing are subject to a four month hold period expiring Dec 15, 2020.

The Company paid finder’s fees in connection with the financing consisting of 7% cash and 7% finder’s share purchase warrants entitling the holders to purchase one non-flow-through common share at a price of $0.10 per share for one year.

Full Description of Material Change

See attached News Release

Reliance on Subsection 7.1(2) or (3) of National Instrument 51-102

The Issuer is not relying on Subsection 7.1(2) or (3) of National Instrument 51-102

Omitted Information

There have been no omissions to this report.

Executive Officer

David H. Brett (604) 682-2421

DATED this 17th day of August 2020 in Vancouver, BC Canada

Engold Mines Ltd.

“David H. Brett”

David Brett, President & CEO

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EnGold Closes $350,000 First Tranche of Flow-Through Financing

For Immediate Release . August 17, 2020. Vancouver, BC. David H. Brett, President & CEO, EnGold Mines Ltd., (TSX-V: EGM, “EnGold” or the “Company”) reports that the Company has closed a nonbrokered private placement of 4,666,667 flow-through units at a price of $0.075 per unit for gross proceeds of $350,000. The units consist of one flow-through common share and one half of one warrant, whereby each whole warrant will entitle the holder to purchase one non-flow-through common share at a price of $0.10 per share for a period of two years. All securities issued under the financing are subject to a four month hold period expiring Dec 15, 2020. The net proceeds will be used to explore the Company’s Lac La Hache Project in the Cariboo region of BC.

The Company paid finder’s fees in connection with the financing consisting of 7% cash and 7% finder’s share purchase warrants entitling the holders to purchase one non-flow-through common share at a price of $0.10 per share for one year.

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.