Inaugural Drilling Program Set to Launch at Hawkins; High-Grade Trench Results Reported Up to 9.6 g/t Gold Over 1.0m - Seite 2

Historic Prospects

Gold was first discovered in the area in the 1930’s, and two shafts (Shenango #1 and #2) and a few prospects (Taylor, Langdon, Goldfields and Johnston-Barnes) were developed over a 15 km stretch. These tended to be high grade and, except for the Goldfields Showing, have not been tested by drilling.

Shenango: reported underground assays 4.35 g/t over 10 m, 6.84 g/t over 5 m; reported production of 66.2 ounces from 2,430 tonnes of ore (see endnote i below).

Taylor: reported bulk samples containing 5.00 g/t gold and 14.92 g/t gold respectively; DDH intersection 4.8 g/t gold over 4.2 g/t gold

Johnstone-Barnes: reported assay of 7.46 g/t gold over 10 m

Goldfields: reported assay results of 40.74 g/t gold over 1 m; 23.02 g/t gold over 1.67m

The above tonnes and grades are historic in nature and have not been verified by an Independent Qualified Person.

Claims comprising the remaining portion of the 60 km-long Hawkins project lying outside this 15 km core area are mostly virgin territory, having had little or no work conducted on them over the past 100 years. E2Gold will aim to conduct reconnaissance style geology and geophysics in these areas in the coming year in order to aid in target identification.

Qualified Persons
Eugene Puritch, P.Eng., Eric Owens, Ph.D., P.Geo., and Natalie Pietrzak-Renaud, Ph.D., P.Geo. act as the Qualified Persons for E2Gold.

ABOUT E2GOLD INC.
E2Gold Inc. is a Canadian gold exploration company which recently completed an overbought Initial Public Offering, listing on the TSX Venture Exchange. Its large flagship property, the Hawkins Gold Project, covers 7 townships in north-central Ontario, about 140 km east of Hemlo. The McKinnon Zone is an at surface, NI43-101 Inferred Mineral Resource of 6.2 million tonnes grading 1.65 g/t for 328,800 ounces of gold. The Company has all relevant permits in place to complete its planned program.

For further information please contact:
Eric Owens	Ellie Owens
President and Chief Executive Officer	Vice President, Corporate Development
Tel. [phone]	Tel. [phone]
Email: [e-mail]	Email: [e-mail]

¹ NI 43-101 Technical Report and Updated Mineral Resource Estimate on Hawkins Gold Project, Ontario, by P&E Mining Consultants, effective date September 10, 2020.
² NI 43-101 Technical Report on the Hemlo Mine, Marathon, Ontario, Canada, for Barrick Gold by RPA, dated 2017.