Mr. Spiros Kletas reports

ENGINEER GOLD MINES PLANS DRILLING PROGRAM

Management, along with consultants, have completed an in-depth desktop review of Engineer Gold Mines Ltd.'s 100-per-cent-owned Engineer gold project, located 30 kilometres southwest of Atlin in northwestern British Columbia. This large property comprises 18,319 hectares covering a 25-kilometre-long contiguous claim block and hosts the historic Engineer gold mine, the Wann River prospect, the Tag property and numerous additional mineral occurrences.

Consolidated by the company, for the first time in its rich 120-year-old history, the Engineer district hosts multiple styles of mineralization, including high-grade epithermal gold-silver veins, polymetallic veins (silver-lead-zinc plus or minus gold) and structurally controlled bulk-tonnage-style gold systems.

Spiros Kletas, president and chief executive officer, commented: "The in-depth and detailed review of the Engineer gold project has been extremely positive and valuable step which has helped highlight the very large potential of the project. I am very excited about not only the Engineer mine itself, but the potential shown in other project areas, including the shear zones adjacent to Engineer plus the Tag and Wann."

Engineer mine

The historic Engineer gold mine is a past-producing, underground gold-silver operation.

Historical production between 1910 and 1952 totalled approximately 14,263 tonnes grading 39.4 grams per tonne (1.15 ounces per ton) gold and 19.5 grams per tonne (0.57 ounce per ton) silver (B.C. Minfile No. 104M014).

Prior mining and exploration work largely concentrated on two of the vein systems -- the Double Decker and Engineer veins. Existing underground workings provide access to multiple additional veins, including Boulder, Governor, Jersey Lilly and Shaft. Access and production drifts are in place on the lowermost four levels of the eight-level mine, with good potential for additional high-grade mineralization at depth and along strike.

The property hosts an historic inferred mineral resource as defined under National Instrument 43-101, which includes only the Engineer and Double Decker veins (Snowden, 2011, amended and restated in 2018, O'Brien et al., SEDAR+).

The resource is based on a 5.0-gram-per-tonne-gold cut-off and a minimum mining width of one metre. Within this estimate is a higher-grade subset as shown in the table below.

A qualified person has not done sufficient work to classify the historical estimates referenced herein as current mineral resources or mineral reserves and the company is not treating the historical estimate as current mineral resources or mineral reserves.

Adjacent to the vein systems are two important mineralized structures, shear zones A and B. Both shears host significant widths of hydrothermal breccia containing bulk-tonnage-style gold mineralization.

A diamond drilling permit is in place and the company plans to conduct a multiphase drill program commencing this summer to test both the downdip and strike extensions of the high-grade, vein-hosted gold-silver mineralization and the extent of the bulk-tonnage, lower-grade gold structures.

Details of the exploration program will be announced as they are finalized.

Wann River prospect

The Wann River prospect is located four kilometres south of the Engineer mine and represents a highly prospective, underexplored target. Exploration work to date has identified a mineralized corridor approximately 800 metres by 180 metres in extent.

Historic diamond drilling of 17 holes in 2011 returned numerous gold and silver intercepts.

The most significant intervals were from hole WR030211, which assayed 11.3 g/t Au and 76.2 g/t Ag over one m, and hole WR040111 assaying 11.3 g/t Au and 94.8 g/t Ag over 1.0 m (Aspinall, 2011; B.C. ARIS report No. 32478).

In addition to prior drilling, Wann River has undergone several surface sampling programs, which returned good gold-silver and base metal values. Select historical grab sample results include (Aspinall, 2011; B.C. ARIS report No. 32004) the following.

The historical 2011 technical report (Snowden, 2011, SEDAR+) recommended a significant exploration program on the Wann River prospect, including diamond drilling to evaluate the southeastern sector of the mineralized corridor, a ground magnetic geophysical survey to support geological mapping, and additional prospecting, mapping and sampling. The company is planning follow-up exploration programs to advance groundwork in the coming field season.

Tag property

The Tag property is located approximately six kilometres north of the historic Engineer mine and is associated with a structurally controlled mineralized system related to the Llewellyn fault. An historical mineral resource estimate (Reddick and Armstrong, 2009, for CZM Capital Corp., SEDAR+), using a minimum core length of 2.0 metres and a cut-off grade of 3.0 g/t gold equivalent, reported:

• Indicated: 250,000 tonnes grading 2.97 g/t Au and 12.09 g/t Ag;
• Inferred: 400,000 tonnes grading 2.98 g/t Au and 9.91 g/t Ag.

A qualified person has not done sufficient work to classify the historical estimates referenced herein as current mineral resources or mineral reserves and the company is not treating the historical estimate as current mineral resources or mineral reserves.

As soon as conditions allow, the company will conduct a relogging and sampling program on the existing diamond drill core, along with planning additional exploration work, to facilitate completing an updated resource estimate for Tag.

In 2026, the company also intends to evaluate the potential reactivation of previously permitted activities, including dewatering of the lower levels of the Engineer mine and complete a bulk sample of up to 10,000 tonnes, subject to regulatory approvals. These activities are expected to support further evaluation of the deposit and potential expansion of mineralized zones. The company believes the Engineer mine presents a compelling opportunity for continued resource development and evaluation of potential small-scale production from existing underground workings.

Qualified person

The scientific and technical information contained in this news release has been reviewed and approved by Linda Dandy, PGeo, a qualified person as defined by National Instrument 43-101. Ms. Dandy is independent of the company and is a registered professional geoscientist (PGeo) in British Columbia, Canada.

About Engineer Gold Mines Ltd.

The Engineer gold project encompasses approximately 18,319 hectares in northwestern British Columbia and is subdivided into three principal target areas: the Engineer gold mine, the Tag property and the Wann River prospect.

The project hosts a historical gold mineral resource at the past-producing underground Engineer mine as well as a historical gold-silver mineral resource on the Tag property. In addition, the district contains numerous high-grade vein- and shear-hosted gold targets with both bulk-tonnage and high-grade exploration potential and a potential opportunity for small-scale production.

Mineralization at the Engineer mine and Tag property is characteristic of epithermal-style systems, with additional epithermal targets identified across the project, including the Happy Sullivan area. The Wann River prospect represents an orogenic gold target associated with the prolific Llewellyn fault and has returned significant gold and silver values, including a grab sample of 263 g/t (7.67 ounces per ton) gold and 1,350 g/t (39.37 ounces per ton) silver from the Lum showing.

Historical resources referenced herein are considered relevant but have not been verified by a qualified person and should not be relied upon.

We seek Safe Harbor.