Energold Completes $20 Million Bought Deal Financing

Energold Drilling Corp. ("Energold") is pleased to announce that it has completed its previously announced bought deal private placement financing (the "Offering"). A total of 3,900,000 common shares (the "Shares") of Energold were issued at a price of $5.20 per Share for aggregate gross proceeds of $20,280,000 pursuant to an underwriting agreement between Energold and a syndicate of underwriters led by TD Securities Inc., and included Jennings Capital Inc. and Beacon Securities Limited (collectively, the "Underwriters").

In consideration for their services, the Underwriters were paid a cash commission of 6% of the gross proceeds of the Offering and non-transferable common share purchase warrants (each, a "Compensation Warrant") equal to 6% of the Shares issued pursuant to the Offering. Each Compensation Warrant entitles the holder to acquire one common share of Energold at an exercise price of $5.20 during the 24 month period following the date hereof. All securities issued under the Offering are subject to a four-month hold period expiring on July 22, 2012.

The net proceeds from the Offering will be used for the construction and development of new rigs and for working capital purposes.

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

Energold Drilling Corp. is a global contract Diamond drilling company servicing the mining and energy industry. Throughout its operations in the developing world, Energold emphasizes an environmentally and socially sensitive approach to drilling. Energold also holds 6.98 million shares of IMPACT Silver Corp.

On behalf of the Directors of Energold Drilling Corp.

"Frederick W. Davidson"
President, CEO