Engineer Gold Announces Private Placement

(TheNewswire)

May 8, 2026 TheNewswire - Vancouver, BC, Canada Engineer Gold Mines Ltd. (the "Company") (TSX-V: EAU) announces that the Company has arranged a non-brokered private placement offering of units for gross proceeds of up to $1.5 million. The offering will consist of up to 10 million units at a price of 15 cents per unit. Each unit will consist of one common share and one share purchase warrant. Each whole warrant is exercisable for a period of three years from the closing date at an exercise price of 20 cents, subject to an acceleration clause. Acceleration would occur if, at any time after the closing date, the corporation's common shares have a closing price of 35 cents or more per share for 10 consecutive trading days on the TSX Venture Exchange, the company shall be entitled to give notice by a news release that the warrants issued pursuant to this placement will expire 30 days from the date of the news release, unless such warrants are exercised before the expiry of that period, and, in such event, all unexercised warrants will expire at 4 p.m. Pacific Time on the last day of such 30-day period.

Proceeds from the private placement will be used for general working capital and for exploration at the Engineer Gold Project in BC. Finders' fees may be paid. All securities to be issued are subject to a statutory four-month-and-one-day hold period.

About Engineer Gold Mines Ltd.

The Engineer Gold Project encompasses an area of 18,319 hectares and is currently subdivided into three areas: the Engineer Gold Mine, Tag Property and Wann River.

Recent exploration has identified a small, high-grade historical gold mineral resource at the historical underground Engineer Mine (see Company website for NI-43101 report), a small gold-silver historical mineral resource on the Tag Property, numerous high-grade vein and shear-hosted bulk-tonnage gold exploration targets and a small, high-grade gold production opportunity. Both the resources are epithermal-style systems with additional epithermal targets evident on the Project, including the Happy Sullivan. Wann River constitutes an orogenic gold target associated with the prolific Llewellyn fault, and has returned significant gold silver results including a grab sample yielding 263 g/t gold and 1350 g/t silver in 2010 from the Lum showing, one of the many local BC Minfile showings.

For further information please contact:

Engineer Gold Mines Ltd.      

"Spiros Kletas"       

Spiros Kletas, President & CEO

Tel:  604-669-6463

Cautionary Statements:

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined  in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange has not reviewed the content of this news release and therefore does not accept responsibility or liability for the adequacy or accuracy of the contents

of this news release.

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