|December 07, 2001|
Normal Course Issuer Bid
|Energold Mining Ltd. (the "Company") announces its intention to continue its normal course issuer bid (the "Bid"), subject to regulatory approval, whereby it may purchase up to an additional one million of its shares representing not more than 10% of the Public Float of the Company, as defined by the Canadian Venture Exchange.|
The Bid will commence on December 11, 2001 and end on December 10, 2002 or such earlier date determined by the Company. All purchases will be made through the facilities of the Canadian Venture Exchange at the market price of the shares at the time of acquisition.
The Company is of the view that the current market price of its shares is below their net asset value and, as a result, the purchase of its shares is a reasonable investment by the Company.
Over the past year, the Company has purchased 595,000 of its own shares pursuant to a normal course issuer bid.
On behalf of the Directors
(signed) Frederick W. Davidson
For further information please contact:
Walter Sellmer or Fred Davidson
The Canadian Venture has neither approved nor disapproved this news release.
900 -- 543 Granville Street
Vancouver, B.C., V6C 1X8
Telephone: (604) 681-9501
Facsimile: (604) 681-6813
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