Energold Drilling Corp. Completes $13.5 Million Private Placement of Secured Convertible Debentures

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT
AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES.


Energold Drilling Corp. (the "Company", or "Energold") (TSX VENTURE:EGD) is
pleased to announce that it has closed a private placement with a group of
investors subscribing for $13.5 million principal amount of secured convertible
debentures ("CDs") for a term of three years. The CDs bear interest at a rate of
12.85% calculated and compounded annually and payable quarterly. The CDs are
convertible into common shares of the Company at a conversion price of $3.00 per
share. Insiders of the Company purchased CDs having a principal face value of
$3.0 million, representing 22.0% of the offering.


Due to the interest expressed in the CDs, the size of the offering was increased
from $12.5 million to $13.5 million. All other terms of the CDS are as disclosed
in Energold's press release of July 9, 2014.


The net proceeds of the CDs are expected to be used for the repayment of the
outstanding amount under the Company's $10 million secured convertible
debentures maturing on July 21, 2014 and for working capital purposes including,
but not limited to, the funding of bolt-on acquisitions. 


The CDs and any securities issued on conversion of the CDs are subject to a hold
period expiring on November 22, 2014.


The securities have not been and will not be registered under the U.S.
Securities Act of 1933 (the "1933 Act"), as amended, or under any state
securities laws, and may not be offered or sold, directly or indirectly, or
delivered within the United States or to, or for the account or benefit of, U.S.
persons (as defined in Regulation S under the 1933 Act), absent registration or
an applicable exemption from registration requirements. This news release does
not constitute an offer to sell or a solicitation to buy such securities in the
United States.


About Energold Drilling Corp. 

Energold Drilling Corp. is a leading global specialty drilling company that
services the mining, energy, infrastructure, water and manufacturing sectors in
27 countries. Specializing in a socially and environmentally sensitive approach
to drilling, Energold provides a comprehensive range of drilling services from
early stage exploration to onsite operations for both metals and energy, in
addition to its established drill rig manufacturer, Dando. Energold also holds
6.98 million shares of IMPACT Silver Corp., a silver producer in Mexico.


On behalf of the directors of Energold Drilling Corp. 

"Frederick W. Davidson" 

President and CEO 

Neither 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. 


Some statements in this news release contain forward-looking information. These
statements include, but are not limited to, statements with respect to the
proposed use of net proceeds. These statements address future events and
conditions and, as such, involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or achievements to
be materially different from any future results, performance or achievements
expressed or implied by the statements. Such factors include, among others, the
effects of general economic conditions, timely receipt of regulatory approvals,
a reduction in the demand for the Company's drilling services, the price of
commodities, changing foreign exchange rates, actions by government authorities,
the failure to find economically viable acquisition targets, title matters,
environmental matters, reliance on key personnel, the ability for operational
and other reasons to complete proposed activities and work programs, the need
for additional financing and the timing and amount of expenditures. Energold
does not assume the obligation to update any forward-looking statement unless
required by law.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Energold Drilling Corp.
Steven Gold
Chief Financial Officer
[phone]
[e-mail]


Energold Drilling Corp.
1100 - 543 Granville St.
Vancouver, BC V6C 1X8
604 681 9501
604 681 6813 (FAX)
[e-mail]
www.energold.com