|July 15, 2004|
Energold Completes Drill Program At Real De Belem, Will Not Proceed With Agreement
|Energold Mining Ltd. has completed the final eight drill holes of its 1500 metre drill program at Real de Belem. A total of 15 holes were drilled at Real de Belem testing the Belem and San Antonio Vein systems. Results demonstrated that the high-grade mineralization in the Belem Vein is restricted to small shoots with limited size potential with the best result coming from Hole 12 grading 312 g/t Ag over 1.25 m. Five holes drilled on the previously untested San Antonio Vein system returned the best results of 209 g/t Ag over 1.6 m and 142 g/t Ag over 0.15 m. Based on these results Energold will not be proceeding with the Real de Belem property agreements and has issued a notice of termination to the property owner.|
Nigel Hulme, P.Geo., a Qualified Person as defined under Canadian National Instrument 43-101, has verified the results presented in this News Release. Drill core samples were collected by splitting or sawing the core in half and consistently collecting one half of the core for assay. Remaining core was left in the core boxes for reference and check assay purposes.
All samples were shipped to the ALS Chemex preparation laboratory in Guadalajara (Mexico) where they were fine crushed (70% passing a 2mm screen), pulverized (85% passing a 75 micron screen) and a pulp split separated for assay by a riffle splitter. These pulps were shipped to the ALS Chemex laboratory in North Vancouver Canada where a 30-gram split of each was assayed for gold and silver by fire assay with a gravimetric finish. Each sample shipment included 5% standards and 5% blank samples to serve as checks on assay results.
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 silver focused exploration Company with properties in Mexico and the Dominican Republic.
On behalf of the Directors of Energold Mining Ltd.
"Frederick W. Davidson"
For further information, please contact:
Fred Davidson or
Darrell Rader - Corporate Development
900 - 543 Granville St.
Vancouver, B.C. V6C 1X8
Telephone 604 681-9501
Facsimile 604 681-6813
The TSX Venture Exchange has neither approved nor disapproved this news release.
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