|August 28, 2003|
Energold Announces Second Quarter Results And Webcast
|Energold Mining Ltd. (EGD:TSX.V) is pleased to announce a second quarter profit of $41,224 and a year to date profit of $236,071. Gross drilling revenues were $1.4 million for the quarter and $2.985 million year to date. Cash and cash equivalents ended the quarter at $999,118. Working capital was $1,866,031. 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.|
During the past twelve months, since June 30, 2002, there has been a significant increase in revenues generated by contract drilling. Kluane continues to expand its drilling activities while re-investing a good portion of its cash flows in order to maintain its momentum. As of the end of July, the Company owns ten drills and has a further drill under construction.
Exploration also continues, as the Company proceeds to work on its Dominican properties on its own account and with a joint venture partner. The Company has also expanded its search for suitable exploration projects into Mexico over the last six months focusing on precious metal targets beyond the conventional grassroots stage.
Energold Mining Ltd. is pleased to announce that its review of the second quarter results will be broadcast live via the Internet today at 1:00 PM ET, 10:00 AM PT, Thursday, August 28, 2003.
The live webcast (audio only) can be accessed at: http://www.vcall.com/ClientPage.asp?ID=84664and 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 a profitable 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.
900 - 543 Granville St.
Vancouver, B.C. V6C 1X8
Telephone 604 681-9501
Facsimile 604 681-6813
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