|April 29, 2002|
Incentive Stock Options
|Energold Mining Ltd. ("Energold") announces that it has granted incentive stock options under its Stock Option Plan to directors and employees exercisable for up to 865,000 shares of Energold at an exercise price of $0.16 per share for a term of five years. 945,000 previously existing options expired April 28, 2002. The grant is subject to regulatory approval. Exercise of the options granted under the Stock Option Plan is subject to shareholder approval of the recent amendment to the Plan. This will be sought at Energold's annual general meeting scheduled for June 21, 2002.|
Energold is engaged in exploration and development of minerals worldwide. The company's principal exploration activities are currently focused on precious and base metal opportunities in the Dominican Republic, either directly or through its 43% holding of IMPACT Minerals International Inc.
Energold also conducts contract diamond drilling through its 50% interest in Kluane International Drilling Inc. "KID". KID specializes in modularized diamond drills that are highly mobile and efficient. KID's activities over the last 12 months include drill programs for clients from North Africa to South East Asia.
On behalf of the Directors of Energold Mining Ltd.
"Frederick W. Davidson"
For further information, please contact:
Fred Davidson or Walter Sellmer
The TSX Venture Exchange has neither approved nor disapproved this news release.
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