Engineer Gold Announces Private Placement

(TheNewswire)

May 8, 2026 – TheNewswire - Vancouver, BC, Canada – Engineer GoldMines Ltd. (the "Company") (TSX-V: EAU) announces that the Company has arranged a non-brokeredprivate placement offering of units for gross proceeds of up to $1.5million. The offering will consist of up to 10 million units at aprice of 15 cents per unit. Each unit will consist of one common shareand one share purchase warrant. Each whole warrant is exercisable fora period of three years from the closing date at an exercise price of20 cents, subject to an acceleration clause. Acceleration would occurif, at any time after the closing date, the corporation’s commonshares have a closing price of 35 cents or more per share for 10consecutive trading days on the TSX Venture Exchange, the companyshall be entitled to give notice by a news release that the warrantsissued pursuant to this placement will expire 30 days from the date ofthe news release, unless such warrants are exercised before the expiryof that period, and, in such event, all unexercised warrants willexpire at 4 p.m. Pacific Time on the last day of such 30-dayperiod.

Proceeds from the private placement will be used forgeneral working capital and for exploration at the Engineer GoldProject in BC. Finders’ fees may be paid. All securities to beissued are subject to a statutory four-month-and-one-day holdperiod.

About Engineer Gold Mines Ltd.

The Engineer Gold Project encompasses an area of 18,319hectares and is currently subdivided into three areas: the EngineerGold Mine, Tag Property and Wann River.

Recent exploration has identified a small, high-gradehistorical gold mineral resource at the historical undergroundEngineer Mine (see Company website for NI-43101 report), a small gold-silverhistorical mineral resource on the Tag Property, numerous high-gradevein and shear-hosted bulk-tonnage gold exploration targets and asmall, high-grade gold production opportunity. Both the resources areepithermal-style systems with additional epithermal targets evident onthe Project, including the Happy Sullivan. Wann River constitutes anorogenic gold target associated with the prolific Llewellyn fault, andhas returned significant gold silver results including a grab sampleyielding 263 g/t gold and 1350 g/t silver in 2010 from the Lumshowing, one of the many local BC Minfile showings.

For further information please contact:

ENGINEER GOLD MINES LTD.      

“Spiros Kletas”       

Spiros Kletas, President &CEO

Tel:  604-669-6463

Cautionary Statements:

Neither the TSX Venture Exchange nor its Regulation Services Provider(as that term is defined  in policies of the TSX Venture Exchange)accepts responsibility for the adequacy or accuracy of this release.The TSX Venture Exchange has not reviewed the content of this newsrelease and therefore does not accept responsibility or liability forthe adequacy or accuracy of the contents

of this news release.

Copyright (c) 2026 TheNewswire - All rights reserved.