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DISSEMINATION IN THE UNITED STATES/
VANCOUVER, June 4, 2018 /CNW/ - (TSX.V:BCK) – Blind
Creek Resources Ltd. ("Blind Creek") and Engineer Gold Mines Ltd. ("Engineer Gold Mines") are pleased to announce
the completion of the plan of arrangement (the "Plan of Arrangement") effective June 1, 2018
(the "Effective Date"). On the Effective Date, Blind Creek transferred the Engineer Gold Mines mineral resource property
(the "Engineer Gold Mine Property") to Engineer Gold Mines and Engineer Gold Mines issued 12,863,525 common shares (the
"Consideration Shares") as consideration to Blind Creek. Blind Creek will distribute the Consideration Shares to the
shareholders of record of Blind Creek as of the close of trading on the Effective Date. Each Blind Creek shareholder will retain
their Blind Creek common shares and be entitled to receive one Engineer Gold Mines common share for each two Blind Creek common
shares held on that day. For more information, see Blind Creek's Information Circular dated April 18,
2018 filed under its profile on SEDAR at www.SEDAR.com.
Computershare Investor Services Inc. will forward to each Blind Creek shareholder who is entitled to receive Engineer Gold
Mines common shares certificates representing their allotted number of Engineer Gold Mines common shares in accordance with the
Arrangement. Shareholders should not deliver certificates for Blind Creek common shares as certificates representing Blind
Creek common shares are not being exchanged pursuant to the Arrangement.
As of the Effective Date, the escrow release conditions in connection with the subscription receipt (the "Subscription
Receipts") financing of Engineer Gold Mines (the "Financing") were satisfied and the release notice has been provided
to the escrow agent (the "Release Notice"). As a result, the escrow agent has released the proceeds of the Financing to
Engineer Gold Mines in accordance with the instructions in the Release Notice and the Subscription Receipts have been
exercised for units of Engineer Gold Mines (the "Units"), each such Unit comprised of one Engineer Gold Mines common share
and one half of one share purchase warrant (the "Warrants"), with each whole Warrant exercisable to acquire one common
share of Engineer Gold Mines at a price of $0.15 per share until June
1, 2020. As a result, in connection with the Financing Engineer Gold Mines issued 7,600,000 common shares and 3,800,000
Warrants on the Effective Date, so that the total issued and outstanding commons shares of Engineer Gold Mines on a non-diluted
basis is 20,463,525 and 24,263,525 on a fully diluted basis. The number of outstanding common shares of Blind Creek has not
changed as a result of the Arrangement.
Engineer Gold Mines has received conditional listing approval for its common shares from the TSX Venture Exchange
("TSX.V") and has reserved the symbol "EAU". Listing will be subject to Engineer Gold Mines satisfying all of the listing
conditions of the TSX.V. Until the common shares of Engineer Gold Mines are listed on the TSX.V, there is no market for such
shares to trade. There can be no assurances that Engineer Gold Mines will be listed on the TSX.V or any stock exchange. Engineer
Gold Mines is expected to be a reporting issuer in British Columbia, Alberta, Saskatchewan and Yukon upon
completion of the Arrangement. Recognition of Engineer Gold Mines as a reporting issuer is within the purview of the Canadian
securities regulators; there can be no assurances that any securities regulator will recognize Engineer Gold Mines as a reporting
issuer, in which case Engineer Gold Mines will be a private company with no liquid market and significant legal restrictions on
the ability to trade in its securities affecting all Engineer Gold Mines Shareholders.
In connection with the conditional listing approval, the TSX.V has requested that Engineer Gold Mines increase the proposed
Phase I work program in the previously filed technical report on the Engineer Gold Mines Property from $200,000 to $400,000. Engineer Gold Mines has included this change in an amended
and restated technical report prepared by Darren O'Brien, P. Geo, Michael
Redfearn, P. Eng. and Dr. Simon Dominy, FAuslMM(CP), FGS(CGeol) entitled "Engineer Gold
Mine, British Columbia, Canada – January 2018 (Amended and
Restated)" effective January 18, 2018, amended and restated as of May 9,
2018 which is available under Engineer Gold Mines SEDAR profile on www.SEDAR.com.
About Engineer Gold Mines Ltd.
Engineer Gold Mines is a Vancouver-based junior resource company focussed on developing the
Engineer Gold Mine Property located 32 km west of Atlin in northwestern British Columbia on the east shore of the Taku Arm of Tagish Lake.
About Blind Creek Resources Ltd.
Blind Creek is a Vancouver-based junior resource company focused on lead-zinc-silver and
gold-silver project acquisition, exploration and development in Yukon (Blende Property) and
Northwest Territories (AB Property). The Company's flagship property is the Blende Property in
north-central Yukon. More recently the company has signed an agreement to acquire a 100% interest in the AB Property
(MV-Type Zinc-Lead) in the Northwest Territories.
For additional information about Blind Creek, please visit Blind Creek's website www.blindcreekresources.com.
On behalf of the Board of Directors of Blind Creek and Engineer Gold
Mines,
Mr. Brian P. Fowler, P.Geo.
President
bfowler@blindcreekresources.com
bfowler@engineergoldmines.com
Cautionary Note Regarding Forward-Looking Statements
Certain statements made and information contained herein in the press release constitutes "forward-looking information" and
"forward-looking statements" within the meaning of applicable securities legislation (collectively, "forward-looking
information"). The forward-looking information contained in this press release is based on information available to the Company
as of the date of this press release. Except as required under applicable securities legislation, the Company does not intend,
and does not assume any obligation, to update this forward looking information. Generally, this forward-looking information can
frequently, but not always, be identified by use of forward-looking terminology such as "plans", "expects" or "does not expect",
"is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes",
or variations of such words and phrases or statements that certain actions, events, conditions or results "will", "may", "could",
"would", "might" or "will be taken", "occur" or "be achieved" or the negative connotations thereof.
All statements other than statements of historical fact may be forward-looking statements. Forward-looking information is
necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other
factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially
different from those expressed or implied by such forward-looking information, including but not limited to: risks and
uncertainties relating to, among other things, the risk of the Company; the risk of unexpected tax consequences to the
Arrangement, the risk of unanticipated material expenditures required by the Company prior to completion of the Arrangement;
risks of the market valuing Blind Creek and Engineer in a manner not anticipated by the Company; risks relating to the benefits
of the Arrangement not being realized or as anticipated, the inherent uncertainties regarding cost estimates, changes in
commodity prices, currency fluctuation, financing, unanticipated resource grades, infrastructure, results of exploration
activities, cost overruns, availability of materials and equipment, timeliness of government approvals, taxation, political risk
and related economic risk and unanticipated environmental impact on operations, as well as other risks uncertainties and other
factors, which may cause the actual results, level of activity, performance or achievements of the Company to be materially
different from those expressed or implied by such forward-looking information.
The Company believes that the expectations reflected in the forward-looking statements and information included in this press
release are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking
statements and information should not be unduly relied upon.
The TSX.V has in no way passed upon the merits of the proposed transaction and has neither approved nor
disapproved the contents of this press release.
Neither the TSX.V nor its Regulation Services Provider (as that term is defined in the policies of the TSX.V)
accepts responsibility for the adequacy or accuracy of this release.
SOURCE Blind Creek Resources Ltd.
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