|June 18, 2008|
Energold Announces $100,000 Private Placement
|Energold Drilling Corp. ("Energold") announces that it will complete, subject to regulatory approval, a non-brokered private placement of 23,529 shares at $4.25 per share for total proceeds of $100,000. The private placement is a "related party transaction" as defined under Multilateral Instrument 61-101 as the sole placee in the private placement is a director of Energold. However, the transaction is exempt from the application of MI 61-101 because the shares to be issued represent less than 25% of the market capitalization of Energold. Subject to receipt of the approval of the TSX Venture Exchange to the transaction, the transaction may close before 21 days following the filing of the material change report respecting this announcement, if management determines it is necessary or desirable for sound business reasons.|
The proceeds of the private placement will be applied to working capital.
Energold Drilling Corp. is an environmentally and socially sensitive diamond drilling company that services the mining industry.
On behalf of the Directors of Energold Drilling Corp.,
"Frederick W. Davidson"
For further information, please contact:
Darrell Rader - Corporate Development
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.
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