Vancouver, British Columbia--(Newsfile Corp. - September 15, 2022) - David H. Brett, President & CEO, EnGold Mines Ltd., (TSXV: EGM) ("EnGold" or the "Company") reports the Company has arranged a non-brokered private placement of 3,500,000 units at a price of $0.15 per unit (the "Units") for gross proceeds of $525,000 (the "Financing"), subject to TSX Venture Exchange acceptance. The Units will consist of one common share ("Share") and one warrant, whereby each warrant will entitle the holder to purchase one Share at a price of $0.20 per Share for a period of two years.

Proceeds from the Financing will be used to explore the Company's 100% owned Lac La Hache Property in the southern Cariboo region of BC and for general working capital purposes. No finders' fees or commissions will be paid in respect of the Financing.

The securities issued under the Offering, will be subject to a statutory hold period expiring four months and one day from the date of issuance of such securities.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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 Deposit 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.

Per/

David H. Brett

President & CEO

For further info contact David Brett, 604-682-2421 or david@engold.ca

This news release contains "forward‐looking statements" within the meaning of Canadian securities legislation. Forward‐looking statements include, but are not limited to, the expected use of proceeds of the financing. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which EnGold will operate in the future. Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward‐looking statements include, amongst others, the global economic climate, dilution, share price volatility and competition. Although EnGold has attempted to identify important factors that could cause actual results to differ materially from those contained in forward‐looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward‐looking statements. EnGold does not undertake to update any forward‐looking statements, except in accordance with applicable securities laws.

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.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.

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