|April 21, 2004|
Energold Announces Record Year-End Results
|Energold Mining Ltd. (EGD:TSX.V) is pleased to announce a year-end profit of $559,157 ($0.04 earnings per share) up 181% from $199,337 in 2002. The 2003 earnings were negatively affected by a $317,724 foreign exchange loss. Gross drill revenues were $6.23 Million up 46% from $4.25 Million in 2002. At the end of the year, Cash and Cash Equivalents stood at $851,800 and Working Capital at $1.84 Million. Energold's review of the 2003 year-end results will be broadcast via the internet at 9:00 AM PT, 12:00 ET, Thursday April 22 at http://web1.to.fastvibe.com/CWS/egd/040422egd/staging.htm.|
The Kluane International Drilling Group completed its most productive and profitable year to date leading to Energold posting its sixth consecutive profitable quarter. In 2003 the Kluane Group drilled in excess of 47,000 metres on projects in Latin America, Central America, the Middle East, Asia and the Caribbean. Demand for Kluane's services continues to grow and in-spite of the traditional slow-down during the Christmas holidays, the first quarter of 2004 appears to be the best quarter in terms of production on record with in excess of 26,000 metres drilled. Kluane currently has 15 drill rigs.
Exploration continued on a number of concessions in the Dominican Republic. First phase drilling programs were completed on IMPACT's El Brujo property and Energold's Bacco y Ofir concession. On October 6th the company was advised that MinMet had failed to meet the necessary spending thresholds to earn an interest in the optioned properties with the exception of Josephina and Bacco y Ofir where MinMet earned a 51% interest. New option agreements were signed with MinMet on both the Longyear and El Centenario concessions. The Longyear agreement ensures that a drill program will occur during 2004.
Energold's property search in Mexico led to the acquisition of an option on the Real de Belem high-grade silver / gold project. In 2004, Energold plans to continue the exploration program including a 1,500 m drill program with the goal of verifying the existing drill results and expanding our knowledge of Belem 1 Vein and other mineralized structures on the property.
Vancouver-based Energold Mining Ltd. is a profitable exploration company focusing on precious and base metals targets within Mexico and the Dominican Republic. Energold owns 50% of Kluane International Drilling, a contract diamond drilling company and a controlling interest in IMPACT Minerals International Inc. (IPT: TSX.V), a precious metals exploration company with properties in the Dominican Republic.
On behalf of the Directors of Energold Mining Ltd.
"Frederick W. Davidson"
For further information, please contact:
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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