Dr. Mark Thorpe reports

ENVIROGOLD GLOBAL CLOSES $2.15M FINANCING

Further to the news release dated May 29, 2023, Envirogold Global Ltd. has closed a non-brokered private placement of unsecured convertible notes with two investor groups to raise gross proceeds of $2.15-million.

The notes will mature 24 months from the date of issuance and bear interest at the rate of 8 per cent per annum, calculated as simple interest accrued monthly in arrears. Pursuant to the terms of the notes, the subscribers may at any time prior to the maturity date convert the principal amounts of the notes into common shares of the company, at a price of 25 cents per common share. The accrued and unpaid interest shall be payable in common shares at the average closing price on the Canadian Securities Exchange for the 20 trading days immediately prior to the date of conversion.

Proceeds from the financing will be used to provide additional working capital and finance additional expenses of the company.

All securities issued in connection with the financing are subject to a statutory hold period which will expire on Oct. 5, 2023. Finder's fees of $145,770 cash and 516,000 warrants have been issued to qualified parties in connection with the financing. The finder's warrants are non-transferrable and will allow the holder to acquire one common share of the company at an exercise price of 25 cents per finder's warrant for a period for 24 months following the closing date.

The company also announces that Dan Buckley, the former chief operating officer (COO), has transitioned into a new contract role with the company. The company will look to reappoint a COO in due course as the Hellyer project advances to implementation.

About Envirogold Global Ltd.

Envirogold Global is a cleantech company that uses proprietary technologies to reduce the environmental liabilities of wastes from mining projects while maximizing return for its shareholders. The company is dedicated to establishing ESG (environmental, social, governance) and circular economy leadership by profitably reprocessing and remediating mine waste (tailings) to recover precious, critical and strategic metals -- including gold, silver, copper and nickel.

We seek Safe Harbor.