News Release - Monday, August 27, 2007
Energold Announces Second Quarter Results Including Record
Production And Continued Expansion
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Energold Drilling Corp. (EGD:TSX.V) ("the Company") is pleased to
announce its 2007 second quarter consolidated results including the
best ever revenues and meters drilled for a quarter. Gross revenues
for the quarter were $8.64 million (up 25%) on 64,000m of drilling from
gross revenues of $6.9 million in 2006 on 52,000m of drilling and for
the year to date revenues were $16.1 million (up 46%) on 117,000m
compared to $11.0 million on 84,000m in 2006.

Earnings for the quarter were $1,836,000 (2006- $1,510,000), which
includes a foreign exchange loss for the period of $1,206,000 (2006 -
$275,000) and a gain on disposal of assets of $1,317,000 (2006 - $0).
In 2006 the Company recorded a dilution gain on the investment in
IMPACT of $1.06 million for the quarter and $1.39 million for the year
to date, the comparable figures for 2007 were $23,000 for the quarter
and $61,000 for the six months. Earnings per share were $0.07 for the
quarter and for the six months $0.11 compared to $0.07* and $0.09* for
the comparable periods in the prior year.

During the quarter the Company completed a $15.0 million financing
which added net $13.9 million to the Company's balance sheet. As at
June 30th consolidated working capital position was about $35.8
million, an increase of just over $17.0 million, almost double, from
its net consolidated working capital position of $18.7 million at
December 31, 2006.

Consolidated group cash and cash equivalents were $21.8 million at the
end of the period compared to $10.9 million December 31, 2006 an
increase of over 100%. Energold's very strong balance sheet does not
reflect the current market value of the equity investment in IMPACT.
Based on closing market prices at August 17, 2007 the investment has a
current market value of $9.0 million or approximately $6 million more
than our carrying cost. Energold has 29.92 million shares outstanding
and fully diluted 34.9 million as of June 30, 2007.


Results Comparison (Canadian $ 000's except per-share amounts and
meters drilled)
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Three Months Six Months
Ended June Ended June Ended June Ended June
30, 2007 30, 2006* 30, 2007 30, 2006*
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Gross Revenues 8,640 6,948 16,113 11,053
Gross Margins 3,740 2,381 6,591 3,543
Income before Taxes 2,727 1,837 3,964 2,428
Net Income 1,836 1,510 2,655 1,931
Earnings Per Share
- Basic 0.07 0.07 0.11 0.09
- Diluted 0.07 0.07 0.11 0.09
Metres Drilled 64,000 52,000 118,000 84,000
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*Restated

The Company fully consolidates its 50.01%-owned Pac Rim Drilling
S.A.C., 50%-owned subsidiary Kluane International Drilling Inc. and its
affiliates. The Company's approximately 16.7% interest in IMPACT
Silver Corp. (IPT: TSX.V) is accounted for on an equity basis.

The increase in the overall level of activity reflected the existing
demand within the industry and the growth of the Company's particular
niche within that industry. The efforts of prior years provided the
establishment of the infrastructure necessary to handle this increase
and the Company is anticipating further growth in 2007 both in existing
markets and a number of new locations. The Company subsequent to June
30th has ordered 8 new rigs anticipated as being delivered before the
end of the third quarter bringing the total number of rigs jointly and
directly owned to 41.

Energold will be reviewing its 2007 Second-Quarter results via the
Internet at 1:00 pm ET, 10:00 am PT, Wednesday, September 5, 2007. The
webcast (audio only) can be accessed at:
http://events.onlinebroadcasting.com/energold/090507/index.php and will
feature management discussing the Company's financial and operational
results.

Energold Drilling Corp. is an environmentally and socially-sensitive
diamond drilling company that services the mining industry. Energold
also holds 6.6 million shares of IMPACT Silver Corp. (IPT: TSX-V) and a
portfolio of exploration projects in the Dominican Republic.


On behalf of the Directors of Energold Drilling Corp.

"Frederick W. Davidson"
President, CEO

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.


900 - 543 Granville St.
Vancouver, B.C. V6C 1X8
www.energold.com


Telephone 604 681-9501
Facsimile 604 681-6813
info@energold.com

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Copyright (c) 2007 ENERGOLD DRILLING CORP. (EGD) All rights reserved.
For more information visit our website at http://www.energold.com/ or
send mailto:info@energold.com
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