E2GOLD INC - ETUGF STOCK NEWS

E2Gold Inc. (TSXV:ETU)(OTCQB:ETUGF) announces a new 1,500m drill program at its Hawkins Gold Project in North-Central Ontario. The program targets step-out locations at the McKinnon Zone, which currently holds an Inferred Resource of 6.2Mt grading 1.65 g Au/t for 328,000 oz. The drilling will explore down-plunge targets below high-grade gold shoots and previously undrilled high-grade surface prospects up to 3km east along strike.

The company has secured up to $200,000 in funding from the Ontario Junior Exploration Program (OJEP) for exploration activities. Additionally, E2Gold is conducting a private placement offering of common shares and flow-through shares at C$0.01 per share to raise up to C$250,000, subject to TSX Venture Exchange approval.

E2Gold Inc. (TSXV:ETU)(OTCQB:ETUGF) has appointed Kyle Nazareth as its new Chief Financial Officer, effective September 1, 2024. Nazareth, who works with Branson Corporate Services, brings over a decade of experience in managing public companies and advising on capital market transactions. He succeeds Carmelo Marrelli, who has served as E2Gold's CFO since July 2022.

Nazareth's role at Branson Corporate Services involves providing strategic financial consulting and compliance services on a fractional basis. His appointment is expected to bring high-quality financial stewardship to E2Gold, leveraging his extensive finance and capital markets expertise.

E2Gold Inc. (TSXV:ETU)(OTCQB:ETUGF) has successfully closed its previously announced private placement, raising gross proceeds of $386,450. The financing consisted of issuing 15,822,502 Units at C$0.02 per Unit and 2,800,000 flow-through units at $0.025 per FT Unit. Each Unit includes one common share and one purchase warrant, while FT Units comprise one 'flow-through' common share and one FT Warrant. The company plans to use the proceeds for exploration of its Hawkins project and general administrative purposes. Insiders purchased 8,322,502 Units, constituting a related party transaction. The offering is subject to TSX Venture Exchange approval.

E2Gold Inc. (TSXV:ETU)(OTCQB:ETUGF) has announced that Kinross Gold intends to maintain its 9.9% equity position in the company's recently announced financing. The closing date for the financing has been extended to August 15, 2024, with a target of $500,000 in gross proceeds. The private placement consists of HD Units priced at C$0.020 and Flow-Through Units at C$0.025. E2Gold plans to use the funds for its next drill program, which aims to expand the McKinnon Zone footprint, particularly by testing the McKinnon East Extension. This could potentially double the length of the gold zone along strike. The company's CEO, Eric Owens, expressed appreciation for shareholder support and confidence in the value of their activities.

E2Gold announces a private placement to raise up to C$500,000. The funds will be raised through the sale of units priced at C$0.020 and flow-through units priced at C$0.025. Proceeds will support drilling plans at the Hawkins Project, targeting the McKinnon East Extension to potentially double the McKinnon Zone Inferred Resource footprint. Each unit includes a common share and a warrant, exercisable at C$0.05 and C$0.06 respectively, valid for 24 months. Ellie Owens, President and Board member, resigns to avoid conflicts of interest. Her departure was acknowledged by Dr. David Good, Chairman of the Board. This financing is subject to TSX Venture Exchange approval.