News Releases

EnGold Reports Gold Equivalent Values for 2008-2015 Aurizon South Gold Drill Results

May 19, 2016


EnGold Reports Gold Equivalent Values for 2008-2015 Aurizon South Gold Drill Results

May 19, 2016. Vancouver, BC. David H. Brett, President & CEO, EnGold Mines Ltd., (TSX-V: EGM, “EnGold,” www.engold.ca, formerly GWR Resources Inc. GWQ) reports results of 25 drill holes completed between 2008 and 2015 from its 100% owned Aurizon South Gold Project calculated in equivalent gold values to incorporate the significant copper and silver grades into a single gold grade, which has resulted in a considerable increase in the expressed gold grades. For example, AZS08-07 includes a previously published intercept of 14 metres grading 10.36 gpt gold, 1.46% copper & 7.2 gpt silver, which when published as a gold equivalent returns 14 metres grading 12.17 gpt gold, a 14.8% increase in the value attributed to the gold grade.

A full table of the revised results and the formula for calculating the gold equivalent values is provided below. The Aurizon South Gold Project is located within Engold’s 18,275 hectare (45,158 acres) Lac La Hache Property in BC’s Cariboo region.

“Incorporating Aurizon South’s considerable copper and silver values into our published gold grades makes assessing the significance of our drill results a lot easier,” said EnGold President & CEO David Brett. “I believe Aurizon South has the potential to develop into a high grade, low cost gold producer, with the copper and silver values having significant impact.”

EnGold VP of Exploration Robert Shives, P.Geo., states:

“Drilling at Aurizon South shows high gold (plus copper and silver) grades occur within a near-vertical structure measuring 300m along strike (open), across potentially mineable true widths ranging from 3 to >10 m, to depths of more than 600 m (open). High grades of gold, copper and silver are common, hosted mainly by hydrothermal breccia, related fractures, quartz veins and silicified zones.

Although multi-gram gold values are of primary interest at Aurizon South, considerable additional value is provided by accompanying copper (grades up to several percent) and silver (grades exceeding 20 grams per tonne) as indicated in the tables below, expressed as equivalent gold values. In addition, drill plan maps are available on the corporate website.”

Selected core assays 2008 - 2012, Aurizon South Prospect
Previously published assays. Bolded figure thresholds: Au >5gptCu >1%Ag>5gptInterval >5m

DDH

E

N

Elev.

Dip

Az

Length

Au

Cu

Ag

Interval

From

To

AuEq*


NAD 83Zone 10 m

mASL

Deg

deg

m

g/t

%

g/t

M

m

m

g/t

AZS08-06

617990

5757796

1394.0

60

270

356.60

1.42

0.27

4.10

10.00

49.00

59.00

1.79

AZS08-07

618090

5757791

1385.0

61

270

387.10

6.26

0.87

4.80

26.00

316.00

342.00

7.34







incl.

10.36

1.46

7.20

14.00

318.00

332.00

12.17







incl.

15.50

1.92

7.60

6.00

326.00

332.00

17.85

AZS08-10

618090

5757791

1385.0

45

270

315.50

0.88

0.23

2.30

34.00

231.00

265.00

1.18







incl.

3.50

0.59

8.00

4.00

261.00

265.00

4.30

AZS09-12

617968

5757616

1405.0

60

270

593.40

2.30

0.35

2.60

4.00

510.00

514.00

2.75

AZS09-15

618116

5757816

1374.0

61

270

593.40

5.98

1.19

5.30

8.00

432.00

440.00

7.45

AZS09-16

617856

5757618

1423.0

60

270

358.70

2.45

4.60

30.90

2.00

140.00

142.00

8.26

AZS09-20

618166

5757860

1359.8

65

270

666.50

26.30

0.01

51.60

3.00

450.00

453.00

27.02

AZS10-21

617849

5757785

1403.0

-89

0

876.10

3.12

0.59

2.02

26.40

481.60

508.00

3.84







incl.

6.70

0.65

1.50

6.00

484.00

490.00

7.48







incl.

5.20

3.20

8.30

2.00

500.00

502.00

9.06







incl.

6.50

0.57

3.90

2.00

506.00

508.00

7.22








5.10

0.87

8.40

10.00

590.00

600.00

6.23







incl.

8.35

1.57

29.40

2.00

598.00

600.00

10.59

AZS10-23

617862

5757867

1386.3

70

150

419.70

6.95

0.27

1.50

2.00

311.00

313.00

7.29

AZS10-25

617842

5757852

1390.8

70

150

413.60

9.66

2.64

3.40

2.00

371.00

373.00

12.80

AZS10-26

617825

5757925

1381.7

70

150

550.70

5.25

1.23

18.10

2.00

460.00

462.00

6.94

AZS11-29

617786

5757740

1412.0

55

110

287.50

3.40

3.60

19.00

8.00

227.00

235.00

7.87







incl.

5.70

6.50

35.40

4.00

229.00

233.00

13.79







incl.

8.38

9.30

48.10

2.00

229.00

231.00

19.93

AZS11-30

617786

5757740

1412.0

75

110

452.00

4.88

1.44

6.90

2.00

337.00

339.00

6.66








2.90

0.86

5.30

6.00

351.00

357.00

3.98

AZS12-33

617932

5757475

1423.0

70

290

417.20

3.40

0.92

5.20

12.00

291.00

303.00

4.55







incl.

6.70

1.70

9.80

6.00

294.00

300.00

8.82







incl.

6.63

3.05

16.90

3.00

294.00

297.00

10.43

AZS12-34

617723

5757763

1413.7

75

110

672.60

0.42

0.30

1.66

172.00

435.00

607.00

0.79







incl.

2.00

1.53

8.70

12.00

593.00

605.00

3.91







incl.

3.29

3.99

30.40

2.00

599.00

601.00

8.38















Selected core assays 2015, Aurizon South Prospect
Previously published assays. Bolded figure thresholds: Au >5gptCu >1%Ag>5gptInterval >5m

DDH

E

N

Elev.

Dip

Az

Length

Au

Cu

Ag

Interval

From

To

AuEq*


NAD 83Zone 10 m

mASL

deg

deg

m

g/t

%

g/t

m

m

m

g/t

AZS15-42

617778

5757717

1418.5

-55

110

276.15 m

2.87

0.26

12.12

2.00

36.55

38.55

3.34







incl.

2.67

0.18

15.40

1.50

37.05

38.55

3.09








7.74

1.26

6.53

10.00

195.00

205.00

9.30







incl.

11.67

1.54

7.92

5.00

198.00

203.00

13.58







incl.

23.00

3.42

18.10

0.45

199.50

199.95

27.25

AZS15-43

617771

5757745

1413.3

-55

110

279.20

1.32

0.37

2.52

15.10

226.90

242.00

1.79







incl.

5.68

1.05

9.74

2.00

235.00

237.00

7.04







incl.

10.25

1.36

15.10

0.95

235.00

235.90

12.05

AZS15-44

617744

5757757

1413.0

-55

110

304.80

0.88

0.20

1.17

11.20

262.00

273.20

1.13







incl.

3.84

0.19

1.60

1.00

266.00

267.00

4.08

AZS15-45

617801

5757786

1402.3

-55

110

297.26

0.78

0.02

2.55

4.00

50.00

54.00

0.84

AZS15-46

617800

5757758

1406.1

-55

110

296.27

0.87

0.01

0.15

4.00

134.00

138.00

0.88







incl.

2.14

1.09

5.10

0.77

171.88

172.65

3.49

AZS15-47

617793

5757679

1423.9

-62

110

260.60

6.66

0.20

4.60

1.61

55.08

56.69

6.96








0.66

0.21

1.70

18.40

202.70

221.10

0.93







incl.

2.10

0.35

3.94

4.10

217.00

221.10

2.56

AZS15-48

617751

5757725

1419.6

-55

110

276.15

2.21

0.01

0.20

2.45

78.55

81.00

2.22








1.99

0.60

7.40

0.55

85.95

86.50

2.79








1.03

0.34

3.30

0.70

142.10

142.80

1.47








1.70

0.44

2.60

23.00

229.00

252.00

2.25







incl.

10.73

1.52

11.50

2.00

242.00

244.00

12.67

AZS15-49

617794

5757679

1424.0

-45

110

218.85

13.40

0.50

96.00

0.83

38.00

38.83

15.30








13.15

0.09

2.00

0.65

72.85

73.50

13.28








10.20

0.87

37.20

0.80

160.20

161.00

11.73

AZS15-50

617815

5757697

1415.0

-55

110

244.03

0.72

2.30

9.10

0.50

96.00

96.50

3.54








2.71

0.08

2.08

6.60

139.40

146.00

2.83







incl.

4.30

0.09

3.49

2.44

143.56

146.00

4.45







incl.

8.79

0.26

12.60

0.74

143.56

144.30

9.27








12.40

0.09

0.90

2.00

210.00

212.00

12.52

AZS15-51

617832

5757718

1409.0

-55

110

208.79

2.06

0.38

2.47

1.55

116.15

117.70

2.54







incl.

6.26

0.74

6.70

0.60

116.15

116.75

7.22















Notes














True thickness of the mineralized zone at Aurizon South is variable: assays are reported over drill core intervals.

* Gold equivalent grade includes copper and silver values. Metallurgical recoveries are assumed to be 100%.

* Au Eq = Au g/t + (Cu grade x ((Cu price per pound/Au price per ounce) x 0.06857 pounds per ounce x 10000 g per %)) + Ag
grade x (Ag price per ounce/Au price per ounce)).

10-day average metal price on May 12, 2016 in $Canadian: Gold $C 1634/ounce,Copper $C 2.79/lb,Silver $C 22.31/ounce

USD to CAD exchange rate: 1$US = 1.28$CA (May 12, 2016)

1 metric tonne = 2204.62 pounds1 pound = 14.48 troy ounces1 troy ounce = 31.103 grams

Quality Control/Quality Assurance Program

EnGold Mines Ltd follows procedures which ensure sample security, chain of custody and Quality Assurance/Quality Control (QA/QC) for all drilling and geochemical sampling, conforming to best current industry practices as defined by the Canadian Institute for Mining, Metallurgy and Petroleum (CIM) standards, and required for TSX-listed companies as defined by National Instrument 43-101.

All drill core was logged, photographed and cut in half with a diamond saw. Half core samples were bagged, sealed and sent securely to ALS Canada Ltd in Kamloops for preparation. Analyses were completed by ALS Minerals in Vancouver for Au (30 gram split fire assay, atomic absorption finish, gravimetric finish), Cu (ore grade, aqua regia), Ag (ore grade, aqua regia) and 35 additional elements by 4 acid digestion of a 0.25 g sample followed by an inductively coupled plasma – atomic absorption spectroscopy finish. As part of our comprehensive QA/QC program, one standard, and one in-line replicate were inserted into the sample stream in each group of 20 samples, as well as one or more field blanks in each analytical batch.


Robert B.K. Shives, P.Geo., a Qualified Person as defined under National Instrument 43-101, has reviewed and approved the technical content of this release.

Engold Mines Ltd.

Per/

David Brett, President & CEO

For further information, please contact: David Brett, Telephone: 604-682-2421

This news release may contain “forwardlooking 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.

Engold Mines Ltd.

David Brett, President & CEO

For further information, please contact: David Brett, Telephone: 604-682-2421

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