January 4, 2022

Vancouver, BC – Engineer Gold Mines Ltd. (the “Company”) (TSXV: EAU) proposes to extend the term of 6,451,600 outstanding share purchase warrants which are to expire as follows: 2,795,000 on January 4, 2022, 1,600,000 on February 7, 2022 and 2,056,600 on March 7, 2022.  The new expiration date will now be as follows: July 4, 2024, August 7, 2024 and September 7, 2024.

The warrants were issued pursuant to a non-brokered private placement of units completed by the Company in tranches.  News releases were issued as follows: Tranche one on July 5, 2019, Tranche two on August 6, 2019, and Tranche three on September 9, 2019. All warrants had an original term of 30 months. The exercise price of the warrants will remain at $0.15 per share. The extension of the warrants is subject to the approval of the TSX Venture Exchange.

About Engineer Gold Mines Ltd.

Engineer Gold Mines Ltd. is focused on reestablishing gold production at the Company’s 100%-owned, historical high-grade Engineer Gold Mine, 32km southwest of Atlin, BC. Exploration and development work has identified numerous high-grade vein and shear-hosted bulk-tonnage gold targets over the Company’s 25 km long (18,319 hectare) contiguous claim grouping, which includes prospects: Wann River, 5 km to the southwest; Happy Sullivan, 3 km to the northeast; and TAG, acquired in 2020, 7 km to the north, of the historical Engineer Mine.

For additional information please visit the company website at www.engineergoldmines.com.

On Behalf of the Board of Directors 

Engineer Gold Mines Ltd.

“Andrew H. Rees”

Mr. Andrew H. Rees

President

Contact Information:

Andrew H. Rees: 604-505-3739

Email: andrewhr@engineergoldmines.com

Neither the 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.