Engineer Gold Mines Announces $1.5 Million Private Placement

Vancouver, BC — May 8, 2026 — Leads & Copy — Engineer Gold Mines Ltd. (TSX-V: EAU) has announced a non-brokered private placement offering of units to raise gross proceeds of up to $1.5 million.

The offering will consist of up to 10 million units priced at 15 cents per unit. Each unit includes one common share and one share purchase warrant.

Each whole warrant can be exercised for three years from the closing date at an exercise price of 20 cents, subject to an acceleration clause.

The acceleration clause stipulates that if the company's common shares reach a closing price of 35 cents or more for 10 consecutive trading days on the TSX Venture Exchange, the company may issue a news release stating that the warrants will expire 30 days from the release date, unless exercised beforehand. Unexercised warrants will expire at 4 p.m. Pacific Time on the last day of this 30-day period.

The proceeds from the private placement will be used for general working capital and exploration at the Engineer Gold Project in British Columbia. Finders’ fees may be paid.

All securities issued are subject to a statutory four-month-and-one-day hold period.

The Engineer Gold Project covers 18,319 hectares, divided into the Engineer Gold Mine, Tag Property, and Wann River areas.

Recent exploration has identified a small, high-grade historical gold mineral resource at the historical underground Engineer Mine. Additionally, there is 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 resources are epithermal-style systems with additional epithermal targets, including the Happy Sullivan. Wann River is an orogenic gold target associated with the Llewellyn fault and has yielded significant gold silver results, including a grab sample of 263 g/t gold and 1350 g/t silver in 2010 from the Lum showing.

Source: Engineer Gold Mines Ltd.