Engineer Gold Mines closes private placement

August 14, 2026 – TheNewswire - Vancouver, BC, Canada – E ngineer Gold Mines Ltd. (the "Company") (TSX-V: EAU | OTC: EGMLF | WKN: A3EEVJ ) is pleased to announce the non brokered private placement first announced on May 8, 2026 is now closed. Tranche two raised $85,250 through the issue of 568,333 units at a price of $0.15 per unit. Each unit consists of one common share and one share purchase warrant. Each warrant is exercisable for a period of three years expiring August 14, 2029, at an exercise price of $0.20, 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 $0.35 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, for tranche one and two combined, are $566,405.

All securities from this tranche of the Private Placement are subject to a four month and a day hold period expiring December 15, 2026. In connection with the private placement, certain eligible persons (“ Finders ”) were paid commissions in accordance with the policies of the TSX-V. Commission for tranche two are $400 and 2,667 finder warrants exercisable for a period of three years expiring August 14, 2029, at an exercise price of $0.20, subject to acceleration clause above. Total finders commissions for tranche one and two combined are $24,132 and 160,883 finder warrants

Proceeds from the private placement will be used for general working capital and for exploration at the Engineer Gold Project in BC.

Insider participation of $35,250 in this tranche constitutes a “related party transaction” as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“ MI 61-10 1”). Such participation is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the Units acquired by the insider, nor the consideration for the units paid by such insider, exceed 25% of the Company’s market capitalization.

About Engineer Gold Mines Ltd.

About Engineer Gold Mines Ltd.

The Engineer Gold Project encompasses approximately 18,319 hectares in northwestern British Columbia and is subdivided into three principal target areas: the Engineer Gold Mine, the TAG Property, and the Wann River prospect.

ENGINEER GOLD MINE

The historic Engineer Gold Mine is a past-producing, underground gold-silver operation. Historical production between 1910 and 1952 totalled approximately 14,263 tonnes grading 39.4 g/t (1.15 oz/ton) gold and 19.5 g/t (0.57 oz/ton) silver (BC Minfile 104M014).

In 2011, an historical Inferred Mineral Resource as defined under National Instrument 43-101 , including only the Engineer and Double Decker veins, was completed (Snowden, 2011, amended and restated in 2018, O’Brien et al - www.sedarplus.ca ). The historical resource, based on a 5.0 g/t gold cut-off, gave an inferred 25,000 ounces of gold at a grade of 19 g/t. The historical mineral resource was calculated using mining industry standard practices and is deemed to be reliable and relevant in that it demonstrates the mineral potential of the property. This estimate was based on the following method and parameters: (1) VLP (long section) approach with projection of mineralized shoots down-dip and along strike based on surface exposure and/or underground development; (2) The global grade applied to each vein structure is based on a probabilistic approach, with grades assigned to domains from historical production figures; (3) All grades were diluted to minimum stoping width of 1 m; and (4) A density factor of 2.8 t/m3 was used which is believed to be conservative.