E2GOLD Increases Ontario Property Portfolio With Newly Staked Claims Near the Borden Gold Mine

TORONTO, ON / ACCESSWIRE / March 25, 2021 / E2Gold Inc. (TSX.V:ETU) (the "Company" or "E2Gold") increased its Ontario portfolio, with the addition of two separate properties acquired via staking, southeast of the Company's flagship Hawkins Gold Project. One of the new properties is located next to Newmont Corporation claims (originally staked by Goldcorp) and the other approximately 20km to the northwest and along strike of Newmont's Bordon Gold Mine. The Company added a total of 300 claims (about 65 km2) located along the interpreted westward extensions of the gold-rich Cadillac-Larder Lake Break and the Porcupine-Destor Fault.

Eric Owens, President and CEO, says, "These claims fit nicely into our portfolio, located as they are along important gold-producing geologic trends, and situated near major gold mining companies." He added, "This staking allowed the Company to acquire some very promising exploration properties at minimal cost."

Both properties are early-stage and were staked based upon in-house interpretation of regional geological and geophysical trends, as well as the location of gold deposits along these trends. E2Gold will conduct reconnaissance geologic mapping and prospecting over these new claims during the upcoming field season.

IP Geophysics Survey: In other news, E2Gold has completed an Induced Polarization survey ("IP") over the central 15 km of its Hawkins Gold Project. Results are expected by the end of April. The survey covered 17.9 line-kilometers of the central Hawkins area over selected parts of the McKinnon Inferred Mineral Resource and along strike. The data will assist in planning future IP surveys along strike from the Resource and be used for drill hole targeting.

Qualified Persons: Eric Owens, Ph.D., P.Geo. and Natalie Pietrzak-Renaud, Ph.D., P.Geo. act as the Qualified Persons for E2Gold, and have reviewed the content of this press release.

ABOUT E2GOLD INC.

E2Gold Inc. is a Canadian gold exploration company which completed an oversubscribed Initial Public Offering, listing on the TSX Venture Exchange in December 2020. Its large flagship property, the Hawkins Gold Project, covers 7 townships in north-central Ontario, about 140 km east of the Hemlo Gold Mine. The Company is currently completing the first half of an 8,000m 2021 drill program to confirm and expand the current McKinnon Resource.

CONTACT:
Eric Owens
President & Chief Executive Officer
Tel. 416-509-5385
Email: eric.owens@e2gold.ca

Ellie Owens
Vice President
Tel. 647-575-2888
Email: ellie.owens@e2gold.ca

SOURCE: E2Gold Inc.