EnGold Increases Non Flow-Through Private Placement by $50,000

VANCOUVER, BC / ACCESSWIRE / October 5, 2016 / David H. Brett, President & CEO, Engold Mines Ltd., (TSXV: EGM) ("EnGold" and the "Company") reports that the Company has increased the amount of the previously announced $640,000 non-brokered private placement by 1,000,000 non flow-through ("NFT") units priced at $0.05 per NFT to a total of 4,000,000 NFT units for expected gross NFT proceeds of $200,000, subject to the approval of the TSX Venture Exchange. Each NFT consists of one common share and one warrant to purchase one additional NFT share at $0.08 for a period of two years. The expected flow-through ("FT") proceeds of $490,000 from the sale of 7,000,000 FT units at $0.07 remains unchanged. Closing of a first tranche of the Financing for proceeds totaling $290,000 was announced September 1, 2016. The proceeds of the offering will be used to fund ongoing exploration work at the Company's 100% owned Lac La Hache Property in the Cariboo region of BC, and for general working capital purposes.

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.

SOURCE: Engold Mines Ltd.