|August 23, 2004|
Energold Announces Second Quarter Results
|Energold Mining Ltd. (EGD:TSX.V) is pleased to announce a second quarter profit of $408,292 ($0.03 earnings per share) up from $41,224 in the second quarter of 2003. The year to date profit is $901,515 ($0.06 earnings per share). At the end of the quarter total assets were $13.3 Million, and working capital was $5.2 Million. During the first six months Energold wrote down $501,345 of exploration projects including $474,797 relating to the Real de Belem project. Energold's review of the second quarter results will be broadcast via the internet at |
http://events.onlinebroadcasting.com/energold/082404/index.php on August 24th, 2004 at 9:00 a.m. PT.
The Kluane International Drilling Group completed another productive and profitable quarter leading to Energold posting its eighth consecutive profitable quarter. In the second quarter, the Kluane Group mobilized its new drills to job sites and improved overall drill utilization. Six month gross drill revenues were $7.6 Million on over 60,000m drilled. Demand for Kluane's services is expected to continue at the same rate in the third quarter. Kluane currently has 15 drill rigs.
Vancouver-based Energold Mining Ltd. is a profitable exploration company focusing on precious and base metals targets within 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:
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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