Energold Drilling Corp. ('Energold' or 'the Company') announces annual revenue in 2015 of $82.0 million across all business divisions, compared to 2014 revenue of $101.3 million. The impact of the decline in the oil and gas sector was almost entirely responsible for the decline in revenue on a year-over-year basis as revenue in that segment fell by 47.8% in 2015 over 2014. Meanwhile, mineral drilling revenue fell by 5.7% and manufacturing increased substantially by 73.1% compared to 2014. While commodity prices remained weak in 2015, the benefits of management's diversification strategy in previous years have continued to offer Energold the flexibility to adapt while allowing for a broad range of new opportunities across all geographies and markets. There are some signs of improved market conditions in the mineral drilling segment while the Company's green drilling is expanding considerably as its water and geothermal drilling market share continue to grow.

In 2015, the Company's overall gross margin declined to 16.4% from 19.1% in 2014. Efforts to reduce costs were ongoing throughout the year while lower pricing in the oil and gas segment in particular lead to the reduced margin on a year-over-year basis. The adjusted net loss** in 2015 was $18.9 million or $(0.39) per share compared to an adjusted net loss of $10.9 million or $(0.23) per share in 2014.

Energold's balance sheet at the end of 2015 remained well capitalized with $13.6 million in cash and $72.6 million in working capital.

2015 Annual Results Comparison ($CAD '000s except per-share amounts and meters drilled)

For three months ended December 31		For the year ended December 31
		2015	2014	2015	2014
Revenue		$	$	$	$
	Mineral	9,986	9,876	32,548	34,532
	Energy	4,586	11,465	28,537	54,702
	Manufacturing	4,728	1,922	20,891	12,067
		19,300	23,263	81,976	101,301
Loss
	Mineral	(2,423)	(1,695)	(7,505)	(5,007)
	Energy	(4,800)	(2,038)	(9,076)	(2,163)
	Manufacturing	(1,079)	(2,399)	(2,425)	(5,116)
	Corporate	(3,389)	365	(4,727)	(1,767)
		(11,691)	(5,767)	(23,733)	(14,053)
Loss Per Share	Basic and diluted	(0.24)	(0.12)	(0.49)	(0.28)
EBITDA*		(6,799)	(3,100)	(8,380)	(1,734)
Adjusted Loss**		(7,130)	(4,602)	(18,886)	(10,876)
Adjusted Loss Per Share	Basic and diluted	(0.15)	(0.10)	(0.39)	(0.23)
		As of December 31, 2015		As of December 31, 2014
Cash		13,561		15,063
Working Capital		72,568		77,041

* EBITDA - Earnings before interest, taxes, depreciation and amortization (see non-GAAP (generally accepted accounting principles) financial measures).
** Adjusted Earnings -- Extraordinary and non-cash items include earn-out payment related to Bertram, accretion expense on debenture, finance cost for sales leaseback financing, share-based payments, foreign exchange, dilution and equity gain/loss on IMPACT, impairment/write-down of assets, resource properties and investment in IMPACT, disposal of subsidiary.

MINERAL DRILLING DIVISION

In Q4-2015, Energold's mineral division drilled 57,400 meters compared to 73,500 meters in Q4-2014, representing a decrease of 21.9%. Despite a decrease in meters drilling for the period, revenues for Q4-2015 increased slightly to $10.0 million from $9.9 million in Q4-2014. As a sign of improvement during the period, the average revenue per meter for Q4-2015 was $174 compared to $134 in Q4-2014. Revenue for 2015 was $32.5 million compared to $34.5 million in 2014 while average revenue per meter for 2015 was $160 compared to $146 in 2014.

Gross margin percentage from mineral drilling improved slightly to 9.8% in Q4-2015 from 9.1% in Q4-2014. Management is seeking to improve its margin by evaluating a number of ways to control its costs without sacrificing the quality of its drilling. The Company maintains a strong infrastructure network in all regions where it operates, which allows for relatively lean operations but allows the Company to respond quickly to new opportunities.

Meters Drilled

Q4 2015	Q4 2014	2015 Annual	2014 Annual
Meters Drilled	57,400	73,500	202,800	236,600
Drill Rigs	N/A	N/A	137	138

ENERGY DRILLING DIVISION (Oil & Gas, Geothermal, Geotechnical, Water)

Overall, revenue for the Energy division in 2015 decreased to $28.5 million from $54.7 million in 2014.

Difficult market conditions due to low hydrocarbon prices, resulted in a decline in revenue on a year-over-year basis. 2015 revenue from oil sands was $10.6 million compared to $36.5 million in 2014. While a generally volatile quarter for revenue due to seasonal and temperature factors, revenue in Q4-2015 was at $0.02 million compared to $7.0 million in Q4-2014. The majority of the decrease is due to major operators delaying projects due to the low price of oil which affected performance throughout the year and in Q1 and Q4 in particular, which are typically the busiest months in terms of activity.

Geothermal and geotechnical drilling accounted for $15.9 million in revenue in 2015 compared to $15.7 million in 2014. In Q4-2015, geothermal and geotechnical drilling accounted for $3.8 million compared to $4.1 million in 2014.

Water drilling revenues in 2015 and Q4-2015 were $0.7 million and $0.4 million respectively, with no corresponding revenues in 2014. The remainder of revenues were earned in seismic and other drilling related activities.

Meters Drilled

Q4 2015	Q4 2014	2015 Annual	2014 Annual
Oil sands coring	-	8,300	17,900	51,500
Seismic (Track and Heli portable)	2,800	-	69,100	-
Geothermal & geotechnical	32,900	79,800	271,300	331,700
TOTAL	35,700	88,100	358,300	383,200

Cost cutting measures and an overall focus on running a more efficient operation improved the gross margin for 2015 to 27% compared to 23% in 2014. Gross margin for Q4-2015 was 1% compared to 15% in Q4-2014. In Q4-2015, the lack of revenue from the oil sands resulted in a decrease in gross margin as Bertram still had certain fixed costs in its operations. In 2015, Bertram drilled 94,900 meters in Canada and approximately 263,400 in the U.S. compared to 72,000 meters in Canada and approximately 311,200 in the U.S. in 2014. Activity levels are not always reflective of revenues due to the type of drilling the division offers.

As part of Energold's expansion into more diverse drilling sectors, particularly infrastructure drilling, Energold acquired Cros-Man Underground Drilling Inc. located in Manitoba subsequent to year end in March 2016. Cros-Man founded in 2005 provides Energold a foothold in less cyclical markets outside of the volatile commodity industry. Cros-Man's primary service is horizontal directional drilling for the telecommunications, water sewage, hydro and oil and gas markets in central Canada.

MANUFACTURING

Revenue in the Company's manufacturing segment improved significantly in 2015 compared to 2014. Specifically, the long-term strategy of the Company's strong marketing efforts has produced beneficial results during the year. In 2015, revenues were $20.9 million with a gross margin of 16.8% compared to revenues of $10.8 million with a gross margin of 20.0% in 2014. Revenues for Dando in Q4-2015 were $4.7 million with a gross margin of 15.6% compared to revenues of $1.8 million with a gross margin of 16.5% in Q4-2014. During 2015, Dando delivered 30 terriers and 10 D type rigs (1000 -- 4000 series) capacity, 4 Multitec 4000 rigs, 5 Multitec 9000 rigs, 1 Sonic rig, 1 Slopetec rig, 1 Borehole servicing rig, 1 Coretec rig and 7 Watertec rigs.

INDUSTRY OUTLOOK

The Company is seeing some improvement in the mineral segment although the recovery is still in the early stages. Improved precious metal prices have lead to a positive impact on the Company's global tender book, with strengthening markets in parts of Latin America and Ebola no longer remains a major impediment to working in parts of West Africa. Pricing has started to stabilize but competition is high in most markets due to excess capacity across the industry.

The impact coming from the decline in oil and gas prices is expected to continue through 2016. Activity levels at higher cost projects, namely those in the oil sands region, are particularly soft and will likely only recover when oil prices support increased development and resource delineation drilling. Meanwhile management is actively working to deploy excess oil and gas equipment to other areas worldwide, in particular green drilling activity including water and geothermal. These markets require specific types of equipment that Energold already has, but are not impacted by commodity prices and stand to benefit from global stimulus spending both in North America and abroad.

Energold remains diversified in terms of service offering and well capitalized as its business mix evolves. Management is comfortable in continuing to develop markets where it sees long-term benefit by using its strong balance sheet in the pursuit of growth. Having closed an acquisition in the infrastructure space in early 2016, the Company is building on these newer markets to deliver shareholder value over time.

A conference call is planned for April 14, 2016 at 4:30pm Eastern. Dial-in numbers are 416-640-5946 or 1-866-233-4585.

Energold Drilling Corp. is a leading global specialty drilling company that services the mining, energy, water, infrastructure and manufacturing sectors in approximately 25 countries. Specializing in a socially and environmentally sensitive approach to drilling, Energold provides a comprehensive range of drilling services from early stage exploration to mine site operations for all commodity sectors and has an established drill rig manufacturer, Dando Drilling International, based in the United Kingdom. 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, CEO

For further information, please contact:

Steven Gold -- Chief Financial Officer
(416) 275-4070 or via email at [email protected]

or

Jerry Huang - Investor Relations Manager
(604) 681-9501 or via email at [email protected]

1100 - 543 Granville St.
Vancouver, BC V6C 1X8
www.energold.com

Telephone 604 681 9501
Facsimile 604 681 6813
[email protected]

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements: Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to proposed activities, work programs and future expenditures. 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, 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 Drilling Corp. does not assume the obligation to update any forward-looking statement.