|May 29, 2003|
Energold Announces First Quarter Results And Webcast
|Energold Mining Ltd. (EGD:TSX.V) is pleased to announce a first quarter profit of $194,847 ($0.01 earnings per share). Gross drill revenues were $1.6 Million. Cash and cash equivalents ended the quarter at $1,028,249. The results of the consolidated company include a 46.7% interest in IMPACT Minerals International Inc. (IPT:TSX.V) and a 50% interest in Kluane International Drilling Inc.|
In the first quarter, a successful first phase drilling program was completed on IMPACT Minerals International Inc.'s El Brujo property, a new target was identified at Bacco y Ofir and Kluane International Drilling Inc. entered into a letter of intent for a 60/40 joint venture for drilling in China.
During the last six months of 2002 and the first three to four months of 2003, there has been a significant increase in revenues generated by contract drilling. Kluane is rapidly growing in size and profitability. The company has decided to re-invest a good portion of its cash flow in Kluane in order to continue expanding its drill fleet and follow up on its success. The Company is exploring its own Dominican properties and has initiated a new project search primarily in the Americas, targeting precious metal and copper gold occurrences.
Energold Mining Ltd. is pleased to announce that its review of the 2003 first quarter results will be broadcast live via the Internet at 1:00 PM ET, 10:00 AM PT, Friday, May 30, 2003.
The live webcast (audio only) can be accessed at: http://www.vcall.com/CEPage.asp?ID=83999 and will feature management discussing Energold's financial and operational results ending with a question and answer period. Since this webcast will be broadcasted in a listen-only mode, shareholders and interested investors are encouraged to submit any questions they may have to Energold before the commencement of the webcast.
For those unable to listen to the webcast live, it will be archived at the Vcall website for the next 90 business days.
Vancouver-based Energold Mining Ltd. is an exploration company focusing on precious and base metals targets within the Dominican Republic and South America.
On behalf of the Directors of Energold Mining Ltd.
"Frederick W. Davidson"
For further information, please contact:
Fred Davidson or
Darrell Rader - Corporate Development
The TSX Venture Exchange has neither approved nor disapproved this news release.
You can view the Next News Releases item: Thu Aug 28, 2003, Energold Announces Second Quarter Results And Webcast
You can view the Previous News Releases item: Wed May 21, 2003, Energold Announces Year-End Results
You can return to the main News Releases page, or press the Back button on your browser.