Energold Drilling Corp. (the "Company", "Energold", or "the Energold Group")
(TSX VENTURE:EGD) announced today that it has entered into an agreement with a
group of private Canadian investors ("PCI") that have agreed to fund by way of a
Convertible Debenture ("CD") aggregate gross proceeds of up to $10,000,000 for a
term of three years. The CD will bear interest at a rate 10% calculated and
compounded annually, payable quarterly. The CD shall be convertible into common
shares of Energold at a conversion price of $5.25 per share.


At any time after the first anniversary date following closing, the Borrower may
prepay the CD, in whole or in part, including all outstanding interest cumulated
to the date of prepayment, and a payment of 1.5% of the amount to be prepaid,
subject to ninety (90) days written notice. Any such prepayment shall
permanently reduce the CD and may not be re-borrowed.


A general security agreement on all the assets of the Borrower and a specific
security agreement on (i) all right, title and interest in the intellectual
property of the Borrower; (ii) Accounts Receivable outstanding; and (iii) 2
million of the common shares of IMPACT Silver Corp. (TSX VENTURE:IPT) owned by
Energold shall be held by the Lender.


The net proceeds of the CD will be used to provide interim funding of the
Borrower's ongoing business operations, in particular for the funding of
acquisitions and capital commitments related to the expansion of the Borrower's
core mineral drilling services business.


Closing of the offering is anticipated to occur on or before July 1, 2011 and is
subject to receipt of applicable regulatory approvals, including approval of the
TSX-V.


The securities have not been and will not be registered under the U.S.
Securities Act of 1933 (the "1933 Act"), as amended, or under any state
securities laws, and may not be offered or sold, directly or indirectly, or
delivered within the United States or to, or for the account or benefit of, U.S.
persons (as defined in Regulation S under the 1933 Act), absent registration or
an applicable exemption from registration requirements. This news release does
not constitute an offer to sell or a solicitation to buy such securities in the
United States.


The Company will be reviewing all current events via Conference Call at 04:15 pm
ET, 1:15 pm PT, Wednesday June 22nd. The dial-in numbers are 1-866-782-8903 or
647-426-1845. Management will be discussing the Company's strategic acquisition
and Convertible Debenture, ending with a question-and-answer period. Investors
are encouraged to forward any questions they may have to info@energold.com. The
recorded conference call can be accessed at our website on June 22, 2011:
http://www.energold.com/s/Events.asp


Energold Drilling Corp. is an environmentally and socially-sensitive diamond
drilling company that services the international mining industry. Energold holds
7 million shares of IMPACT Silver Corp.


On behalf of the Directors of Energold Drilling Corp.

Frederick W. Davidson, President, CEO 

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.
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