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Engold Mines Ltd
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Close 2017-06-16 C$ 0.39
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Engold completes four additional holes at Lac La Hache

2017-06-19 14:34 ET - News Release

Mr. David Brett reports


Engold Mines Ltd. has completed four additional drill holes in its stepout program near the copper-gold-silver mineralization discovered earlier in 2017 at the company's 100-per-cent-owned Lac La Hache property in the Cariboo region of British Columbia. Hole G17-16, located 142 metres northeast of discovery hole G16-01, intersected a 43-metre intensely mineralized skarn-type zone. Hole G17-17, located 50 metres west of hole G17-16, intersected three separate mineralized zones along a 22-metre core interval. Hole G17-14 (50 metres south of hole G17-16) intersected narrower intervals located at the upper and lower contacts of the subhorizontal host lithology. Hole G17-15 (50 metres north of hole G17-11) intersected an intrusive unit which appears to cut out the host lithology where drilled. Assays have been rushed and results are expected within 10 days. Holes G17-18 and G17-19, located 50 metres east and north of hole G17-16, respectively, are currently under way. Drill results reported occur in holes drilled vertically (90-degree dip) or near vertically (81.5-degree dip to achieve a 50-metre stepout intersection) through subhorizontal mineralization. Engold believes the widths reported are essentially true widths. An updated plan map showing the drill hole locations is being added to the company's website.

"Although Engold previously advised that it would refrain from announcing drill hole information without assay, management believes the materiality of hole 17-16 was sufficient to warrant immediate visual disclosure," said Engold president and chief executive officer David Brett. "With two drills operating on site and multiple geophysical surveys proceeding, Engold's technical team is busy managing a very active exploration program."

In other news, Engold has engaged Sander Geophysics Ltd. to carry out a detailed (50-metre line spacing) 274-line-kilometre airborne magnetometer and gravity survey over the approximately 5.5-kilometre prospective trend outlined by previous gravity, mag and geological work. Management believes the new data will help the company develop better drill targets to test anomalies along the trend.

Quality assurance/quality control (QA/QC) program

Engold follows procedures which ensure sample security, chain of custody and QA/QC for all drilling and geochemical sampling, conforming to industry practices defined by Canadian Institute of Mining, Metallurgy and Petroleum standards, and required for Toronto Stock Exchange-listed companies by National Instrument 43-101.

All core was logged and photographed. Sampled intervals were sawed in half, bagged, sealed and sent securely to ALS Canada Ltd. for analysis. Half-gram samples were digested with aqua regia acid then analyzed by inductively coupled plasma-atomic emission spectrometry (ICP-AES) for 35 elements (ME-ICP41). A 30-gram split is analyzed for gold by fire assay with a gravimetric finish (ME-GRA21). Copper values exceeding 1 per cent were analyzed using aqua regia digestion with an ICP-AES finish (ME-OG46) to improve accuracy and precision at higher grades. As part of the company's comprehensive QA/QC program, one standard, one blank and one in-line replicate were inserted into the sample stream in each group of approximately 20 samples in each analytical batch.

About Engold Mines Ltd.

Engold is focused on exploring its 100-per-cent-owned mineral property located near the town of Lac La Hache in B.C.'s prolific Cariboo mining region.

Rob Shives, PGeo, vice-president of exploration and a qualified person as defined under National Instrument 43-101, has reviewed and approved the technical content of this release.

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