Energold Drilling Corp. has entered into an agreement with a third party whereby Energold has agreed to option out some of the company's legacy, non-core land package in the Dominican Republic. The option agreement includes a multi-phased work program to be executed by Energold Drilling Corp.

at market rates and to be paid for by the option holder. Management estimates the initial phase of the work program to be executed as part of the option agreement to be worth $800,000 over the course of the next 12 months with the potential for additional work thereafter. Pending the results of the work program, the third party can exercise, at its discretion, an option to acquire 100% of the land package in 12-18 months for a consideration of $1.6 million.

Energold continuously seeks to monetize its non-core assets in an effort to allocate capital and resources towards the Company's core drilling business as it pursues its ongoing organic and external growth programs worldwide. Energold currently has its exploration assets recorded on its balance sheet at $1.586 million as of September 30, 2012.