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Montreal, Québec, February 8, 2024 ‒ TOMAGOLD CORPORATION (TSXV: LOT) (OTCQB: TOGOF) (“TomaGold” or the “Corporation”) wishes to inform its shareholders that it has extended the “Option to Purchase” with Chibougamau Independent Mines Inc. (TSXV: CBG) (“Chibougamau”) by 45 days to allow completion of due diligence and secure financing to acquire Chibougamau’s East Block copper-gold properties. The initial transaction was announced in the press releases dated August 14, 2023, September 13, 2023 and September 18, 2023.

About TomaGold

TomaGold Corporation (TSXV: LOT) (OTCQB: TOGOF) is a Canadian mineral exploration company engaged in the acquisition, assessment, exploration and development of gold, copper, rare earth elements and lithium projects. Its primary goal is to consolidate the Chibougamau Mining Camp in northern Quebec. In addition to the recent agreements to acquire 20 properties in the camp, the Corporation holds interests in five gold properties in the vicinity of the camp: Obalski, Monster Lake East, Monster Lake West, Hazeur and Doda Lake.

TomaGold also owns a 100% interest in a lithium property and in the Star Lake rare earth elements property, located in the James Bay region of Quebec, as well as a 24.5% interest in the Baird property, located near the Red Lake mining camp in Ontario through a joint venture with Evolution Mining Ltd. and New Gold Inc.

Contact:

David Grondin
President and Chief Executive Officer
(514) 583-3490
www.tomagoldcorp.com

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Some of the statements contained in this press release are forward-looking statements within the meaning of applicable securities laws. Forward-looking statements can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “might” or “will” be taken, occur or be achieved. Forward-looking statements are not historical facts and are subject to a number of risks and uncertainties beyond the Corporation’s control. Readers are cautioned that such statements are not guarantees of future performance and that actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this press release. Accordingly, readers should not place undue reliance on forward-looking statements. The Corporation undertakes no obligation to publicly update or revise any forward-looking statements, except as required by law.

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Montreal, Québec, September 18, 2023 ‒ TOMAGOLD CORPORATION (TSXV: LOT) (OTCQB: TOGOF) (“TomaGold” or the “Corporation”) is pleased to announce that it has met all its initial commitments regarding the previously-announced acquisition of 20 mining properties (press releases dated August 14 and September 13), forming the major portion of the Chibougamau Mining Camp, in Quebec, Canada.

The Corporation has paid its initial commitments to SOQUEM Inc. (“SOQUEM”), Chibougamau Independent Mines Inc. (TSXV: CBG) (“CIM”) and Globex Mining Enterprises Inc. (TSX: GMX) (“Globex”) to acquire a total of 13 mining properties by making cash payments totalling $340,000 and issuing a total of 7,125,000 common shares of TomaGold as per the agreements.

Furthermore, the Corporation has paid CIM an additional cash amount of $200,000 for the 6-month exclusivity right to acquire the 7 remaining properties, which will allow the Corporation to finalize its due diligence on those properties.

“Having met our commitments for the year for the major portion of the properties being acquired, this will allow us to focus on compiling the data on those properties to prepare for the next phases of exploration work, as project operators,” said  David Grondin, President and CEO of TomaGold. “With these acquisitions, we have achieved a major step towards our goal of consolidating this promising and potentially mineral-rich mining camp.”

From 1955 to 2008, the Chibougamau Mining Camp produced around 55 million tonnes of ore corresponding to 994,802 tonnes of copper, 120 tonnes of gold, 102 tonnes of silver and 72,066 tonnes of zinc (Source: Géologie de la région de Chibougamau, EspaceINRS, November 28, 2018).

The common shares issued in relation with the agreements are subject to a resale restriction period of four months and one day.

The technical content of this press release has been reviewed and approved by André Jean, P.Eng., the Corporation’s Director of Exploration and a qualified person under National Instrument 43-101.

About TomaGold

TomaGold Corporation (TSXV: LOT) (OTCQB: TOGOF) is a Canadian mineral exploration company engaged in the acquisition, assessment, exploration and development of gold, copper, rare earth elements and lithium projects. Its primary goal is to consolidate the Chibougamau Mining Camp in northern Quebec. In addition to the recent agreements to acquire 20 properties in the camp, the Corporation holds interests in five gold properties in the vicinity of the camp: Obalski, Monster Lake East, Monster Lake West, Hazeur and Doda Lake.

TomaGold also owns a 100% interest in a lithium property and in the Star Lake rare earth elements property, located in the James Bay region of Quebec, as well as a 24.5% interest in the Baird property, located near the Red Lake mining camp in Ontario through a joint venture with Evolution Mining Ltd. and New Gold Inc.

Contact:

David Grondin
President and Chief Executive Officer
(514) 583-3490
www.tomagoldcorp.com

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Some of the statements contained in this press release are forward-looking statements within the meaning of applicable securities laws. Forward-looking statements can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “might” or “will” be taken, occur or be achieved. Forward-looking statements are not historical facts and are subject to a number of risks and uncertainties beyond the Corporation’s control. Readers are cautioned that such statements are not guarantees of future performance and that actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this press release. Accordingly, readers should not place undue reliance on forward-looking statements. The Corporation undertakes no obligation to publicly update or revise any forward-looking statements, except as required by law.

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• Main objective to unlock the value of the Chibougamau Mining Camp historical deposits
• TomaGold receives conditional approval from the TSX Venture Exchange for these transactions

Montreal, Québec, September 13, 2023 ‒ TOMAGOLD CORPORATION (TSXV: LOT) (OTCQB: TOGOF) (“TomaGold” or the “Corporation”) is pleased to provide further details to the previous release dated August 14, 2023 regarding the properties being acquired pursuant to the agreements signed with SOQUEM Inc. (“SOQUEM”), Chibougamau Independent Mines Inc. (TSXV: CBG) (“CIM”) and Globex Mining Enterprises Inc. (TSX: GMX) (“Globex”), which include a total of 20 mining properties that currently form the majority of the Chibougamau Mining Camp, in Québec, Canada (the “Properties”).

As previously disclosed, in order to acquire the Properties, the Corporation has committed to make global cash payments of $13,805,000, work commitments of $10,425,000, issue 16,625,000 common shares of TomaGold and issue an additional amount of $1,825,000 in common shares of TomaGold over a period of 2 to 5 years in accordance with the specific agreements. Upon signing, TomaGold will be required to make cash payments of $540,000, issue 6,625,000 common shares of TomaGold and issue an additional amount of $25,000 in common shares of TomaGold. TomaGold is currently in advanced discussions with potential financial and mining partners to finance the acquisition, exploration and development of these projects. A summary of the most significant agreements as well as a description of the most significant properties is included below.

David Grondin, President and CEO of TomaGold, stated: “We are thrilled to have received conditional regulatory approval for these property acquisitions, which we believe have the potential to transform TomaGold’s profile going forward. This release also allows us to share with our shareholders and potential investors the most relevant technical information on the most significant properties being acquired, while highlighting their exploration potential. As mentioned in our previous press release, our intention is to further consolidate the Chibougamau Mining Camp, which will allow us to unlock its exploration potential and develop the camp more efficiently.”

SUMMARY OF 100% EARN-IN AGREEMENT

The five West Block Properties cover the northwest corner of the Chibougamau mining camp and provide continuity between the west and north blocks of claims being acquired from SOQUEM.

BERRIGAN MINE PROPERTY

The Berrigan Mine property consists of 16 claims totalling 483 hectares located 4 km north-northwest of the town of Chibougamau. All claims are in good standing, with expiry dates of April 28, 2025.

Two historic NI 43-101 Technical Reports have been reviewed and used to write the following sections on the Berrigan and Berrigan South Properties.

• Carrier, A. (2022). NI 43-101 Technical Report for the Berrigan Mine Property, Chibougamau, Quebec, Canada. Val-d’Or: InnovExplo.
• Larouche, C. (2012). Technical Review (NI 43-101 Compliant) & Evaluation of the Exploration Potential on the Berrigan Gold-Zinc-Silver Project, Chibougamau, QC: Chibougamau Independent Mines.

Geological information was taken from both these reports along with recent exploration results taken from relevant CIM news releases detailed below. The Corporation has not verified the technical data taken from these sources but views the information as relevant and reliable. The Corporation plans to complete a full evaluation of all of the properties being acquired and prioritize exploration to follow up on significant historic results.

Geological setting and mineralization

The property is located within the Archean Abitibi Subprovince of the southern Superior Province in the Canadian Shield. The property provides the Corporation with a strategic land position in the Chibougamau mining camp in the northwestern part of the Abitibi greenstone belt. The property potential is supported by favourable geological and structural setting and the presence of well-documented metallogenic and litho-tectonic elements such as the layered mafic-ultramafic sills of the Cummings Complex, felsic volcanic and volcanoclastic rocks of the Blondeau Formation, and other structures and alterations.

Six priority polymetallic mineral occurrences have been identified on the Berrigan Property; the Main Zone (Zn-Au-Ag ±Pb), South Zone (Zn-Ag ±Au), East Zone (Zn-Ag ±Au), Morrison (Cu-Zn), Wedge (Cu-Zn) and Berrigan-Sud (Ag).

The genesis of the polymetallic mineralization on the property has been described as either VMS or epithermal; however, the presence of both types or a hybrid model may be needed to explain the different styles of documented mineralization. Regardless of the origin of the sulphides on the property, the primary control on mineralization appears to be structural.

The mineralization consists of dissemination, stringers and breccia. Within the breccia, silicified fragments of wall rock are surrounded by quartz-calcite and sulphide and are locally cut by later quartz stringers. The orientation of the fractures is quite variable within the deformation corridor cross-cutting the mafic – ultramafic intrusion (Roberge Sill) and the volcaniclastic rocks of the Blondeau Formation.

Exploration 

The initial showing was discovered in 1929 and the property has been explored by a variety of companies since.

Significant exploration since CIM acquired the property in 2013 includes IP and Mag geophysical surveys in 2013, surface mapping and channel sampling in 2017 and drilling in 2013, 2016 and 2022.

Surface mapping and channel sampling focused on three zones, the East, South and Main Zone.

The East Zone was mapped to a 1:50 scale. The outcrop is comprised  of a semi-massive mineralized horizon (sphalerite-pyrite-pyrrhotite-galena) with an average width of 1.5 m in a serpentinized-carbonatized-pyroxenite, containing fair amounts of pyrite-pyrrhotite and sphalerite within the sheared areas. This mineralized horizon is dislocated in metric blocks along a shear corridor oriented N 250-260° and dipping 60 to 70° N. The mineralized horizon as well as the shear zone were sampled and a total of 15 samples were collected.

On the South Berrigan showing, several historic trenches were excavated on mineralized shears on the northern edge of Berrigan Lake.  These trenches were mapped and 10 samples were collected. The type of mineralization is identical to the one observed on the Eastern Zone, disseminated to semi-massive pyrrhotite-pyrite-chalcopyrite-galena within shear zones oriented N070-N080° to N040°.

The East and South showings are embodied within ENE-WSW shear zones located in a corridor exhibiting an average width of 60 m and a lateral extension of at least 750 m. Within this corridor, several mineralized showings are exposed by historical trenches.

On the Main zone, geological and structural mapping has confirmed that most of the outcrops consist of pyroxenite and dunite belonging to the Roberge Sill. The pyroxenite is massive, medium-grained and either not magnetic or only slightly so, whereas dunite is finer-grained, strongly magnetic and occasionally displays primary bedding parallel to its contacts. A mafic volcanic unit occupies the northern and northeastern parts of the mapped area. This unit is associated with sulphide-rich exhalites (pyrite, pyrrhotite and sphalerite with traces of chalcopyrite). Mineralized zones not associated with exhalites are generally associated with shear zones having two preferential directions: NNE (N020° to N040°) and NNW (N330° to N340°). Sampling and assaying of 44 channel samples confirmed the polymetallic exploration potential of the mineralization on the Berrigan Main Zone.

On September 6, 2017 and October 2, 2017, CIM issued two press releases indicating results of channel sampling on the Berrigan Mine property, with significant results below:

Table 3 – Select Trenching results on Berrigan Mine South, East and Main Zones

  Main

* The Corporation cautions that grab samples are selective by nature and may not be representative of the mineralization on the property.

Historic drilling includes 306 DDH for 41,288 m completed by seven different companies between 1950 and 2022. Significant results from the 306 holes are listed in the table below.

Table 4 – Select intersections from historic drilling on the Berrigan Property**

**The true width of these intersections is unknown.

The property has been the subject of more than one historical estimate. Met-Chem Canada Inc. prepared the most recent of these in April 2001 in a report titled, Pre-feasibility study: Etude Conceptuelle, Projects Berrigan and Tortigny by Chuinard et al. In the report, a resource estimate completed using polygonal estimation techniques stated 1,388,915 tonnes of material grading 3.17% Zn and 1.77 g/t Au on the main Berrigan Mine zone. No resource classifications were given for the resource (GM61359).

The mineral resource estimate above is historical and was not completed to NI 43-101 standards. The QP has not completed sufficient work to classify it as current. Significant data compilation, re-drilling, re-sampling and data verification may be required by a qualified person before the historical estimate on the Project can be classified as a current resource. The Corporation is not treating this as a current mineral resource.

BERRIGAN SOUTH PROPERTY

The Berrigan South property is comprised of 23 claims covering 1,134 hectares contiguous and south of the Berrigan Mine claims. All claims are in good standing, with expiry dates of April 28, 2025.

The Berrigan South mineralization is located about 200 m SE of the Main Berrigan deposit and shows similar geologic, structural and geometric complexities as the Main Zone and is generally thought to represent VMS style mineralization (pyrrhotite, sphalerite, chalcopyrite, galena) remobilized within an EW fault structure. Historic exploration has consisted predominantly of diamond drilling, including 28 drill holes completed by five different companies between 1963 and 1975, and geological mapping and sampling. (Michel Leblanc, 2013)

LAC ANTOINETTE and LAC ELAINE PROPERTIES

The Lac Antoinette property consists of 11 claims totalling 436 hectares. All claims are in good standing, with expiry dates of April 28, 2025 to June 20, 2025.

The Lac Elaine property consists of 27 claims totalling 1,238 hectares. All claims are in good standing, with expiry dates of January 20, 2025 to May 17, 2026.

Together the Lac Antoinette and Lac Elaine claims cover the westward extension of the geological rock unit in which the Berrigan Zn, Au, Ag deposit is found. Numerous strong conductive zones have been indicated on the claims by airborne geophysical surveys.

Late in the summer 2021, shoreline prospecting and mapping were completed at the Lac Antoinette and Lac Elaine properties. Anomalous copper values were reported in six grab samples on the two properties. During the summer of 2022, prospecting and sampling was performed over the property. The worked performed included beep-mat geophysics, reconnaissance mapping, sampling for base metal, gold and silver, as well as sampling a number of rocks for whole rock geochemistry. (CIM Internal Memo)

GWILLIM PROPERTY

The Gwillim property consists of 24 claims totalling 1,264 hectares in Barlow and McKenzie townships, and surrounds Globex Mining Enterprises’ Lac Gwillim property, which is also the subject of an acquisition agreement between TomaGold and Globex. All claims are in good standing, with expiry dates of January 7, 2025 to December 16, 2025.

The property covers approximately 4.5 km of the Lac Gwillim shear zone. It comprises three gold-bearing vein showing; Wright-Hargreaves Gwillim, Lac Gignac-East and the Barlow McKenzie-West, a gold, copper and zinc showing. Exploration on the property started in 1950 on what is now the Wright-Hargreaves showing when an area was stripped and sampled. Since then, sporadic exploration programs were completed by a variety of companies between 1950 and 1984 including 14 short drill holes with limited sampling. Recent exploration has included airborne geophysics and during the summer of 2022, prospecting and sampling. (Amrhar, 2023)

SUMMARY OF ASSET PURCHASE AGREEMENT

The seven East Block Properties cover portions of the east portion of the Chibougamau mining camp and contain the historic Grandroy, S-3, Goldfields, Kokko Creek, Bateman Bay Mines and parts of the historic Copper Cliff and Jaculet Mines. Aside from the seven historic mines on the properties being acquired, the properties are also adjacent to a further 14 historic mines.

Geological and exploration history for the East Block Properties, including historic production was taken from a report titled Technical Review and Evaluation of the Exploration Potential of the Lac Chibougamau Mining Properties in McKenzie, Roy, Obalski and Lemoine Townships, written by Claude Larouche in August 2012 for CIM.  Recent exploration results were taken from relevant CIM news releases detailed below. The Corporation has not verified the technical data taken from these sources but views the information as relevant and reliable. The Corporation plans to complete a full evaluation of all of the properties being acquired and prioritize future exploration to follow up on significant historic results.

KOKKO CREEK PROPERTY

The Kokko Creek property consists of seven claims totalling 190 hectares, which lies on the north shore of Doré Lake between the Quebec Chibougamau GoldFields and Virginia Option properties. All claims are in good standing, with expiry dates of September 5, 2026 to October 28, 2026.

The Kokko Creek showing was first discovered in 1906 and explored by a variety of groups until 1958 when Campbell Chibougamau Mines sunk a vertical shaft to 593 feet. Records indicate that during the period 1959 to 1975, 745,169 tons grading 1.15% Cu and 0.24 g/t Au were mined.

The mineralized zone occurs along a N110°E trending, steeply SW dipping shear zone injected by a quartz-feldspar porphyry dyke. Mineralization extends along strike for less than 600 metres and locally reaches widths of up to 12 metres. Sulphide includes chalcopyrite, pyrrhotite, pyrite and minor sphalerite. Chloritization, silicification and carbonatization are the most common types of alteration.

Surface trenches exposing Zn-Cu-Ag-Au-Mo values over widths of 5.0 to 6.0 m, were confirmed by subsequent drilling which intersected wide zones porphyry copper-style disseminated copper and molybdenite mineralization, which has developed within the upper part of the Lac Doré Complex in the gabbroic anorthosite and granophyre. The mineralization is present over a surface of 1.5 square kilometres and consists of tension fractures with veinlets of quartz-pyrite, quartz-pyrite-chalcopyrite and quartz molybdenite.

No significant amount of exploration work has been undertaken on the property since its acquisition by CIM in 2013.

QUEBEC CHIBOUGAMAU GOLDFIELDS PROPERTY

The Quebec Chibougamau Goldfields property consists of 7 claims totalling 188 hectares, which lies on the north shore of Doré Lake between Kokko Creek and Cedar Bay Mines. All claims are in good standing, with expiry dates of October 28, 2026.

The first mining activity on the property was when a shaft was sunk in 1956 and Patino Mining initiated mining and milling of the ore. In 1970, Campbell Chibougamau Mines acquired the property and put a decline under the surface pillar of the main zone. This surface pillar (H zone) was mined by open cut. Production from 1970 to 1974 is reported at 264,000 tons grading 1.74% Cu and 3.08 g/t Au.

No significant amount of exploration work has been undertaken on the property since its acquisition by CIM in 2013.

COPPER CLIFF EXTENSION PROPERTY

The Copper Cliff Extension property consists of 7 claims totalling 91 hectares, which lies on the north shore of Doré Lake east of Cedar Bay Mines. All claims are in good standing, with expiry dates of February 10, 2025.

The Copper Cliff claims lie immediately east of the Copper Cliff shaft and cover part of the underground workings going eastward. During the period 1970 to 1974, 864,382 tonnes grading 1.69% Cu, 0.96 g/t Au and 6.5 g/t Ag were mined from the Copper Cliff Mine.

Mineralization

At Copper Cliff, as with most of the Cu-Au mines within the Lac Doré Complex, the mineralization which has been mined is commonly associated to dykes referred to as “Mines Dykes”. These pre-mineral dykes are injected into the deformation corridors and include “Grey Dykes” (fine grained, feldspathic) and “Mafic Dykes” (dark green colour, usually rich in chlorite). Post mineral sinistral strike slip faults result in very limited horizontal displacement of the mineralized zones.

Two different styles of mineralization have been identified at Copper Cliff and include:

Type 1: Highly foliated sulphide rich veins (chalcopyrite, pyrite, magnetite, pyrrhotite, sphalerite and arsenopyrite) which form lenses up to 100 m long and up to 5 m thick.

Type 2: Horizontal extension fractures which cross cut the main foliation and which are quite limited in length (20 m) and in thickness (1 cm to 50 cm).

At the end of CIM’s 2019 fall drilling campaign on Bateman Bay, one 461 m drill hole was completed on the Copper Cliff property.

GRANDROY PROPERTY

The Grandroy property consists of 15 claims totalling 768 hectares, which completely covers former mining concession 604 and is located 12 km east of the town of Chibougamau, in the southwest quarter of Roy Township. All claims are in good standing, with expiry dates of May 9, 2025.

The Grandroy showing was first discovered in 1946. Open pit mining started in February 1967 and ceased in May 1968 due to the high stripping ratio. From 1970 to 1975, a spiral decline to a depth of 70 metres below the pit floor was used to extract further ore. A total of 345,000 tons grading 1.24% Cu and 0.70 g/t Au was mined from the altered porphyry.

TOMMY ZONES PROPERTY

The Tommy Zones property is covered by a large claim group forming a continuous prospective exploration package 10.8 km long by 3.6 km wide over Lac Chibougamau. The entire land package is geologically located within the Lac Doré Complex. All claims are in good standing, with expiry dates of May 9, 2025 to  November 10, 2026.

The structural corridor contains gold mineralization hosted in individual zones of shearing ranging in thickness from 1.0 to 30.0 m. These zones of shearing are usually parallel, closely spaced and showing good lateral and vertical continuity. Some of the anorthosite hosted mafic dykes can also locally be found within the shear zones. These zones are referred to as T, S and K zones.

The mineralized zones on the Tommy Zones Property were first discovered in the 1950’s and have been drilled by a variety of companies and the S-3 zone was mined between 1985-1989 for a total of 420,943 tonnes grading 3.91 g/t Au and 0.4% Cu.

Mineralization at the Tommy zones occurs as sulphide stringers and/or sulphides in veins of quartz/carbonate filled fractures and/or in zones of shearing within the anorthositic gabbro of the Lac Doré Complex. Mineralization is comprised largely of pyrrhotite, chalcopyrite, pyrite with lesser amount of sphalerite and rarely galena. Locally, gold is found associated with the sulphides.

BATEMAN BAY PROPERTY

The Bateman Bay (Au-Cu-Ag) mine and two former mining blocks of the former Jaculet Mine constitute the present property composed of 15 mining claims totalling 353 hectares, located 8 km east of the town of Chibougamau. All claims are in good standing, with expiry dates of January 2, 2025 to February 20, 2025.

Mineral production records show a modest, sporadic production between 1968 and 1977 totalling approximately 27,051 t grading 1.81% Cu, 1.58 g/t Au and 14.21 g/t Ag derived mostly from the A-3 zone.

Mineralization

Numerous mineralized zones were intersected by surface drilling and from underground workings on the Bateman Bay property. Seven lenses have been identified, A1, A-2, main A-3, A-4, A-5, C-north and C south.  These zones oriented roughly 110° are represented by intense alteration in sericite and chlorite. The mineralization is concentrated in lenses locally narrow but with a good lateral and vertical continuity. At Bateman Bay, the gold mineralization is found associated to pyrite with minor chalcopyrite. Pyrite is disseminated and also along stringers, it may represent 1% to 50% of the rock by volume and the gold does not appear to be directly correlated to the amount of pyrite. The copper (chalcopyrite) mineralization is uniform, but the gold values are more erratic.

The A-3 Zone, the main mineralized lens at Bateman Bay, extends laterally for less than 600 metres and vertically to 300 metres. This structure has been opened and sampled on four levels.

An historical resource estimate by SIDAM Inc. Trudel, P et. Al. Evaluation du Potentiel Mineral de la Propriété Bateman Bay Chibougamau, Quebec dated May 26, 1992 and completed for Ressources Robex Inc. is shown below:

Table 5 – Bateman Bay Historic Resource Estimate

The mineral resource estimate above is historical and was not completed to NI 43-101 standards and does not include a resource classification. The QP has not completed sufficient work to classify it as current. Significant data compilation, re-drilling, re-sampling and data verification may be required by a qualified person before the historical estimate on the Project can be classified as a current resource. The Corporation is not treating this as a current mineral resource.

Zone C, located 1.0 km NE of Zone A, has been drill tested to a depth of 200 metres and for a strike length of more than 1 km. Zone C consists of two parallel branches traced underground for hundreds of metres on different levels. The mineralization consists of pyrite and chalcopyrite.

In 2013, six holes were drilled at shallow depth to better understand the mineralization orientation of the C-3 Zone. Two new drill holes were completed in 2016 at a vertical depth of 165 and 255 metres. BJ-16-16, the deepest hole drilled on the zone returned 3.61% Cu, 1.72 g/t Au, 11.90 g/t Ag and 0.022% Co over 12.5 m. The true width of this intersection is unknown. (CIM News Release January 18, 2017)

Since 2013 exploration at Bateman Bay has been focused on drilling the C-3 zone and discovering new targets on similar structures. In 2013 drilling was completed from 50 metres below surface to a vertical depth of 150 m. Then, in 2016, two holes were drilled at a vertical depth of 170 and 260 metres, respectively, below surface. Cobalt was also added at that time to be part of analytical metal package.

Results from the 2016 drilling are presented in the table below. (CIM News Release January 18, 2017)

Table 6 – 2016 CIM Drill Results Bateman Bay

The true width of these intersections is unknown.

In September 2017, CIM undertook a program of stripping on the up-dip projection of the C-3 zone which had been intersected in several drill holes. Subsequent channel sampling returned 3.6% Cu, 31.0 g/t Ag and 422 ppb Au over 3.90 m over five consecutive samples and 2.53% Cu, 11.0 g/t Ag and 396 ppb Au over 3.05 m over three consecutive channel samples, all perpendicular to strike within a wide zone of intense siderite alteration.

In 2019, CIM completed two drill programs for a total of ten holes to extend the C-3 zone along strike and at depth. C-3 mineralized intersections of the 2019 campaign are presented in the table below. Holes BJ-19-19 and BJ-19-20 and also BJ19-23 to BJ19-26 did not intersect mineralization. (CIM News Releases April 22, 2019, August 7 & 8, 2019)

Table 7 – 2019 CIM Drill Results Bateman Bay

The true width of these intersections is unknown.

During the 2020 winter, three holes were drilled including the deepest hole drilled to date on C-3 copper and gold zone. Results from drill holes BJ-20-127 and BJ-20-29 are presented in the table below. Drill hole BJ-20-28 did not intersect mineralization. (CIM News Releases February 28, 2020, March 24, 2020)

Table 8 – 2020 CIM Drill Results Bateman Bay

The true width of these intersections is unknown.

This intersection in drill hole BJ-20-29 was the best gold result to date on the C-3 zone. The C-3 zone has encountered mineralization from surface to a vertical depth of 525 m and remains open at depth.

The property has a certificate of authorization (CA) for drilling on ice or drilling on a barge. Drilling can be completed on ice if winter conditions are favourable or drill from a barge during summer.

VIRGINIA OPTION PROPERTY

The Virginia Option property consists of 4 claims totalling 61 hectares. The property is bounded upon the northeast by the Kokko Creek Mine property, on the south by the Chib-Kayrand Mine, Merrill Island Mine and Main Campbell Mine and further to the west by the Obalski Mine property. The property was explored between 1950 and 1973 including geophysical surveys, geological mapping and sampling and diamond drilling.  Minimal work has been completed since 1973.  All claims are in good standing, with expiry dates of September 5, 2026.

MAP OF PROJECTED ACQUISITIONS

TomaGold has received conditional approval from the TSX Venture Exchange for these transactions. The common shares to be issued in relation with the agreements are subject to a resale restriction period of four months and one day.

The technical content of this press release has been reviewed and approved by André Jean, P.Eng., the Corporation’s Director of Exploration and a qualified person under National Instrument 43-101. In conducting the review of twelve properties mentioned in this news release, the Qualified Person consulted and utilized various sources of information and data, including government publications, and historical reports and data provided to him by all the vendor, Chibougamau Independent Mines Inc. The Corporation has not verified all the technical data taken from these reports and sources but views the information as relevant and reliable. The Corporation plans to complete a full evaluation of all of the properties being acquired and prioritize exploration to follow up on significant historic results.

About TomaGold

TomaGold Corporation (TSXV: LOT) (OTCQB: TOGOF) is a Canadian mineral exploration company engaged in the acquisition, assessment, exploration and development of gold, copper, rare earth elements and lithium projects. TomaGold holds interests in five gold properties near the Chibougamau mining camp in northern Quebec: Obalski, Monster Lake East, Monster Lake West, Hazeur and Doda Lake, as well as a 24.5% interest through a joint venture with Evolution Mining Ltd. and New Gold Inc. in the Baird property, located near the Red Lake mining camp in Ontario. In addition, it owns a 100% interest in a lithium property and in the Star Lake rare earth elements property, located in the James Bay region of Quebec.

Contact:

David Grondin

President and Chief Executive Officer

(514) 583-3490

www.tomagoldcorp.com

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Some of the statements contained in this press release are forward-looking statements within the meaning of applicable securities laws. Forward-looking statements can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “might” or “will” be taken, occur or be achieved. Forward-looking statements are not historical facts and are subject to a number of risks and uncertainties beyond the Corporation’s control. Readers are cautioned that such statements are not guarantees of future performance and that actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this press release. Accordingly, readers should not place undue reliance on forward-looking statements. The Corporation undertakes no obligation to publicly update or revise any forward-looking statements, except as required by law.

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• Game-changer strategy for TomaGold, which will allow it to acquire a district-size land package
• The agreements comprise 20 mining properties, hosting a mix of copper-gold-silver-zinc mineralization, of which 6 were past-producing mines
• TomaGold’s objective is to further consolidate the Chibougamau Mining Camp with the goal of increasing the belt’s copper and gold resource and enhance shareholder value

Montreal, Québec, August 14, 2023 ‒ TOMAGOLD CORPORATION (TSXV: LOT) (OTCQB: TOGOF) (“TomaGold” or the “Corporation”) is pleased to announce that it has entered into agreements with SOQUEM Inc. (“SOQUEM”), Chibougamau Independent Mines Inc. (TSXV: CBG) (“Chibougamau”) and Globex Mining Enterprises Inc. (TSX: GMX) (“Globex”) to acquire a total of 20 mining properties that currently form the majority of the Chibougamau Mining Camp, in Québec, Canada (the “Properties”).

In order to acquire the Properties, the Corporation has committed to make global cash payments of $13,805,000, work commitments of $10,425,000, issue 16,625,000 common shares of TomaGold and issue an additional amount of $1,825,000 in common shares of TomaGold over a period of 2 to 5 years in accordance with the specific agreements. Upon signing, TomaGold will be required to make cash payments of $540,000, issue 6,625,000 common shares of TomaGold and issue an additional amount of $25,000 in common shares of TomaGold. A summary of each agreement is included  below. The Corporation is currently in advanced discussions with potential financial and mining partners to finance the acquisition, exploration and development of these projects.

David Grondin, President and CEO of TomaGold, stated: “Never in its last 75-year history has the Chibougamau Mining Camp been controlled and developed by one operator with a global vision. With these acquisitions, we have achieved a first step towards that goal. This game-changer strategy will allow TomaGold to optimize the allocation of financial, human and technical resources under one roof for exploration, development and potentially production. By consolidating these assets, we will also have a better chance of attracting interest from first tier mining companies looking for large projects to expand their resources, and optimally finance the development of the mining camp through TomaGold.”

Map of projected acquisitions

Summary of 100% earn-in agreements

SOQUEM Inc. Option to acquire a 100% interest in the Williams (Au-Cu-Zn), David (Au-Cu-Zn), Brosman (Au-Ag-Cu-Mo), Radar (Au-Ag-Cu-Zn), Dufault (Au-Cu-Zn), McKenzie (Au-Ag-Cu-Zn) and Bruneau (Au-Cu) properties.
	Cash	Work req.	Shares (#)	Shares ($)
Effective date	$       25,000			$       25,000
Year 1		$     325,000		$       50,000
Year 2		$     500,000		$       75,000
Year 3		$  1,000,000		$     100,000
Year 4		$  1,500,000		$     125,000
TOTAL	$       25,000	$  3,325,000		$     375,000

Chibougamau Independent Mines Inc. Option to acquire a 100% interest in the Berrigan South (Au-Zn), Berrigan Mine (Au-Ag-Zn), Antoinette Lake (Zn-Au-Ag), Élaine Lake (Zn-Au-Ag) and Gwillim (Au-Cu) properties.
	Cash	Work req.	Shares (#)	Shares ($)
Effective date	$     300,000		6,000,000
Year 1	$       50,000	$     600,000		$     150,000
Year 2	$     300,000	$     800,000		$     200,000
Year 3	$     500,000	$  1,200,000		$     300,000
Year 4	$     750,000	$  1,500,000		$     350,000
Year 5	$     750,000	$  1,500,000		$     350,000
TOTAL	$  2,650,000	$  5,600,000	6,000,000	$  1,350,000

Globex Mining Enterprises Inc. Option to acquire a 100% interest in the Gwillim group of claims (Au-Ag).
	Cash	Work req.	Shares (#)	Shares ($)
Effective date	$       15,000		625,000
Year 1	$       15,000	$     150,000		$       25,000
Year 2	$       25,000	$     150,000		$       25,000
Year 3	$       37,500	$     200,000		$       25,000
Year 4	$       37,500	$     500,000		$       25,000
Year 5		$     500,000
TOTAL	$     130,000	$  1,500,000	625,000	$     100,000

Summary of asset purchase agreement

Chibougamau Independent Mines Inc. Acquisition of a 100% interest in the Kokko Creek (Au-Cu), Quebec Chibougamau GoldFields (Au-Ag-Cu), Copper Cliff Extension (Au-Cu), Grandroy (Au-Cu), Tommy Zones (Au-Cu), Bateman Bay (Au-Cu-Ag) and Virginia Option (Cu) properties.
	Cash	Shares (#)
Exclusivity (6 months)	$     200,000
Effective date	$  4,800,000	10,000,000
Year 1	$  3,000,000
Year 2	$  3,000,000
TOTAL	$  11,000,000	10,000,000

The agreements are subject to regulatory approval. The common shares to be issued in relation with the agreements are subject to a resale restriction period of four months and one day.

The technical content of this press release has been reviewed and approved by André Jean, P.Eng., the Corporation’s Director of Exploration and a qualified person under National Instrument 43-101.

About TomaGold

TomaGold Corporation (TSXV: LOT) (OTCQB: TOGOF) is a Canadian mineral exploration company engaged in the acquisition, assessment, exploration and development of gold, copper, rare earth elements and lithium projects. TomaGold holds interests in five gold properties near the Chibougamau mining camp in northern Quebec: Obalski, Monster Lake East, Monster Lake West, Hazeur and Doda Lake, as well as a 24.5% interest through a joint venture with Evolution Mining Ltd. and New Gold Inc. in the Baird property, located near the Red Lake mining camp in Ontario. In addition, it owns a 100% interest in a lithium property and in the Star Lake rare earth elements property, located in the James Bay region of Quebec.

Contact:

David Grondin
President and Chief Executive Officer
(514) 583-3490
www.tomagoldcorp.com

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Some of the statements contained in this press release are forward-looking statements within the meaning of applicable securities laws. Forward-looking statements can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “might” or “will” be taken, occur or be achieved. Forward-looking statements are not historical facts and are subject to a number of risks and uncertainties beyond the Corporation’s control. Readers are cautioned that such statements are not guarantees of future performance and that actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this press release. Accordingly, readers should not place undue reliance on forward-looking statements. The Corporation undertakes no obligation to publicly update or revise any forward-looking statements, except as required by law.

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Montreal, Québec, May 9, 2023 ‒ TOMAGOLD CORPORATION (TSXV: LOT) (OTCQB: TOGOF) (“TomaGold” or the “Corporation”) is pleased to provide an update on current and future activities at its Obalski, Star Lake and Brisk projects.

Drilling program completed at Obalski

Following the recommendations of Abitibi Geophysics of Val-d’Or at the end of 2022, the Corporation drilled four holes for a total of 1,386.4 metres between April 11 and April 24, 2023 on its Obalski property. This program targeted two priority areas:

• A north-northeast trending fault intersecting the A-Po Zone, which may contain remobilization of the A-Po Zone mineralization. Three holes (OBS-23-026 to OBS-23-28) were drilled on this structure for a total of 837.1 metres.
• The eastern extension of the A-Po Zone which had not been previously explored. A 550-metre hole (OBS-23-29) was drilled on this “Metal Factor” anomaly.

 

The samples were shipped to ALS in Val-d’Or at the end of April. Results should be available by the end of May 2023.

Re-analysis of historical samples on Obalski

As reported in the April 5 press release, the processing of approximately 300 samples from historical drilling is still underway. Final results are expected by the end of May 2023.

Prospecting program on Star Lake and Brisk

The prospecting program on the Star Lake and Brisk properties is scheduled to begin at the end of May. These two properties are favourably located in the same geological context as the projects owned by Winsome Resources and Patriot Battery Metals (Brisk) and Brunswick Exploration (Star Lake). The work will be carried out by the Dahrouge Group. Approximately three weeks of work is planned and will consist mainly of identifying rock outcrops and collecting samples for analysis for lithium and rare earth elements. The teams will be equipped with a scintillometer and a portable XRF machine.

Upcoming drilling program on Obalski

The 2017 drilling program on Obalski outlined a significant NNE-SSW structure, which has not been followed up. Hole OB-17-002 had intercepted a 3.1 m mineralized structure that graded 10.3 g/t Au, 42.2 g/t Ag and 7.8% Cu. The Corporation plans to carry out a 1,000 m drilling program on this structure in early June 2023.

“Over the coming months, we will be active on our three main projects, all of which have excellent exploration potential,” said David Grondin, President and CEO of TomaGold. “Our exploration strategy is to gather as much data as possible to optimize our chances of success when we drill, and with the minimum investment possible. This strategy has allowed us to make important discoveries in the past such as Monster Lake, and we anticipate that it will also be successful for Obalski, Star Lake and Brisk.”

The technical content of this press release has been reviewed and approved by André Jean, P.Eng., the Corporation’s Director of Exploration and a qualified person under National Instrument 43-101.

About the Obalski property

The Obalski property covers 345 hectares about 2 km south of Chibougamau, Quebec. Discovered in 1928, the Obalski deposit produced 100,273 tonnes at grades of 1.14% Cu, 2.08 g/t Au and 6.04 g/t Ag from the A zone between 1964 to 1972, and around 9,000 tonnes at a reported grade of 8.5 g/t Au from the D zone in 1984 (Source: SIGEOM and Camchib Exploration internal reports).

About TomaGold

TomaGold Corporation (TSXV: LOT) (OTCQB: TOGOF) is a Canadian mineral exploration company engaged in the acquisition, assessment, exploration and development of gold, copper, rare earth elements and lithium projects. TomaGold holds interests in five gold properties near the Chibougamau mining camp in northern Quebec: Obalski, Monster Lake East, Monster Lake West, Hazeur and Doda Lake, as well as a 24.5% interest through a joint venture with Evolution Mining Ltd. and New Gold Inc. in the Baird property, located near the Red Lake mining camp in Ontario. In addition, it owns a 100% interest in a lithium property and in the Star Lake rare earth elements property, located in the James Bay region of Quebec.

Contact:

David Grondin

President and Chief Executive Officer

(514) 583-3490

www.tomagoldcorp.com

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Some of the statements contained in this press release are forward-looking statements within the meaning of applicable securities laws. Forward-looking statements can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “might” or “will” be taken, occur or be achieved. Forward-looking statements are not historical facts and are subject to a number of risks and uncertainties beyond the Corporation’s control. Readers are cautioned that such statements are not guarantees of future performance and that actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this press release. Accordingly, readers should not place undue reliance on forward-looking statements. The Corporation undertakes no obligation to publicly update or revise any forward-looking statements, except as required by law.

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TomaGold intersects 27.75 m at 0.84 g/t Au on Obalski and increases grade of reanalyzed gold samples to up to 38% 

• Grinding selected samples to 90% (finer grind) instead of 70% increases gold grades from 5% to 38% for these samples.
• Best result from the 2,958-metre drill program includes 27.75 metres grading 0.84 g/t Au (90% grind), intersecting the A-Po Zone.
• About 300 additional samples from previous drilling have been sent to the laboratory for reanalysis.
• TomaGold will begin a 1,500-metre drill program on Obalski next week to test new targets identified by geophysics.   

Montreal, Québec, April 5, 2023 ‒ TOMAGOLD CORPORATION (TSXV: LOT) (OTCQB: TOGOF) (“TomaGold” or the “Corporation”) is pleased to announce the results of the year-end 2022 drilling program on its wholly owned Obalski property, located 2 km south of Chibougamau, Quebec. In addition, the Corporation presents the results of reanalysis of selected samples from drilling on Obalski.

“While this latest program has continued to intersect significant intersections on Obalski, we are particularly excited about the reanalysis results, which have increased certain historical gold grades significantly,” said David Grondin, President and CEO of TomaGold. “After extensive testing by independent laboratories, we have concluded that the mineral material on Obalski needs to be grinded finer at 90% instead of 70% for optimal results and that the best results appear to come from lower grade intersections that do not have a nugget effect. To further confirm our theory, close to 300 samples from previous drilling were sent to the laboratory for reanalysis.”

Drilling program

After a compilation of geophysical surveys carried out in several phases in 2021 and 2022 in the field and through drilling, several resistivity and chargeability anomalies were identified. Drilling recommendations were then submitted by Abitibi Geophysics of Val-d’Or.

Following these recommendations, a program of six NQ diameter holes totalling 2,958 metres was drilled on high resistivity/low chargeability and low resistivity/high chargeability anomalies. Hole OBS-22-020 tested a high-resistivity anomaly and holes OBS-22-021 to OBS-22-025 tested two low-resistivity/high-chargeability anomalies. The following table presents the results obtained.

Hole	From(m)	To(m)	Length(m)*	Au g/t(70% grinding)	Au g/t(90% grinding)	Metal factor (70%)	Metal factor (90%)	Variation following reanalysis
OBS-22-020	122.85	122.35	0.50	0.21	No reanalysis performed
OBS-22-021	264.0	264.5	0.50	0.81	No reanalysis performed
	387.3	391.5	4.20	0.25
	437.0	437.5	0.50	0.29
OBS-22-022	52.55	53.9	1.35	0.44	No reanalysis performed
	312.0	315.1	3.10	0.43
	421.7	423.85	2.15	0.46
OBS-22-023	119.3	120.9	1.60	2.89	No reanalysis performed
	458.0	458.5	0.50	0.52
OBS-22-024	366.4	366.9	0.50	2.49	No reanalysis performed
	406.65	409.65	3.00	1.05
	412.6	414.0	1.40	0.28
OBS-22-025	451.8	479.55	27.75	0.76	0.84	21.09	23.31	+10.7%

* True width is estimated at 65-70% of core length.

 

The result obtained from hole OBS-22-025 is particularly significant. The hole intersected the A-Po mineralized zone at a vertical depth of 400 metres. This intersection could represent the A-Po zone which is intersected by a possible NNE-SSW trending fault that would have caused remobilization of the gold-bearing sulphides. This area will be the subject of further drilling.

Location of drill holes

Hole	Esting	Northing	Azimut	Dip	Length
OBS-22-020	543472	5524561	200°	-50°	417
OBS-22-021	543410	5524466	020°	-50°	468
OBS-22-022	543410	5524466	020°	-60°	543
OBS-22-023	543410	5524466	020°	-70°	558
OBS-22-024	543456	5524449	020°	-50°	471
OBS-22-025	543456	5524449	020°	-60°	501

Sample reanalysis

Since the acquisition of the Obalski project, several questions have been raised about the validity of the analytical methods used for gold and silver analysis. Some experts have raised the possibility of the presence of halogens while others have questioned the fineness of the initial grinding of the half-core samples and the final pulp volume upon pulverization.

The Corporation thus proceeded with the reanalysis of two groups of samples from significant mineralized zones. The first group was designed to investigate the possible presence of problematic halogens. A total of 44 pulp samples were processed by direct cyanidation. The results showed no significant difference between the fire assay and direct cyanidation methods. The halogen problem was therefore ruled out.

The second group of 132 samples was carefully selected for reprocessing from the original rejects. These rejects were reground to 90% passing 2 mm instead of 70% passing 2 mm as was done in the first fire assay. The Corporation also decided to produce at least 1 kg of pulp at < 75 microns instead of 200 g < 75 microns before the final 50 g batch for fire assay.

The following table shows the results obtained for holes with a metal factor greater than 10. In addition, for hole OBS-22-015A, we can see the difference between a high-grade gold intersection due to a nugget effect and an intersection without the high grade.

Hole	From(m)	To(m)	Length.(m)*	Au g/t(grinding 70 %)	Au g/t(grinding 90 %)	Factor metal (70 %)	Factor metal (90 %)	Variation following reanalysis
OBS-22-005A	390,25	439,5	49,25	0,21	0,22	10,34	10,84	+4,8 %
OBS-22-015A (incl. 71 g/t)	417,75	427,35	9,60	5,52	4,36	52,99	41,86	-11,1 %
OBS-22-015A (excl. 71 g/t)	417,75	426,70	8,95	0,71	0,82	6,35	7,34	+15,6 %
OBS-22-016	259,5	283,5	24,00	0,32	0,44	7,68	10,56	+37,5 %
OBS-22-025	451,8	479,55	27,75	0,76	0,84	21,09	23,31	+10,7 %

*True width is estimated at 65-70% of core length.

 

Considering that the number of samples reanalyzed is relatively small, the Corporation has decided to reanalyze approximately 300 additional samples to further corroborate its theory.

Sample preparation and analysis

TomaGold has implemented and is adhering to a strict Quality Assurance/Quality Control program for the current drilling program. The core is sawed in half, with one half kept as a witness sample in Chibougamau and the other half shipped directly by bus to ALS Chemex in Val-d’Or, Quebec. ALS grinds the half core to 1/8″, split it into two halves and keeps one half as a witness (reject) in Val-d’Or. ALS pulverizes the other half to minus 200 mesh, takes a 50 g sample for analysis and keeps the rest, identified as “pulp”.

The technical content of this press release has been reviewed and approved by André Jean, P.Eng., the Corporation’s Director of Exploration and a qualified person under National Instrument 43-101.

About the Obalski property

The Obalski property covers 345 hectares about 2 km south of Chibougamau, Quebec. Discovered in 1928, the Obalski deposit produced 100,273 tonnes at grades of 1.14% Cu, 2.08 g/t Au and 6.04 g/t Ag from the A zone between 1964 to 1972, and around 9,000 tonnes at a reported grade of 8.5 g/t Au from the D zone in 1984 (Source: SIGEOM and Camchib Exploration internal reports).

About TomaGold

TomaGold Corporation (TSXV: LOT) (OTCQB: TOGOF) is a Canadian mineral exploration company engaged in the acquisition, assessment, exploration and development of gold, copper, rare earth elements and lithium projects. TomaGold holds interests in five gold properties near the Chibougamau mining camp in northern Quebec: Obalski, Monster Lake East, Monster Lake West, Hazeur and Doda Lake, as well as a 24.5% interest through a joint venture with Evolution Mining Ltd. and New Gold Inc. in the Baird property, located near the Red Lake mining camp in Ontario. In addition, it owns a 100% interest in a lithium property and in the Star Lake rare earth elements property, located in the James Bay region of Quebec.

Contact:

David Grondin
President and Chief Executive Officer
(514) 583-3490
www.tomagoldcorp.com

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Some of the statements contained in this press release are forward-looking statements within the meaning of applicable securities laws. Forward-looking statements can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “might” or “will” be taken, occur or be achieved. Forward-looking statements are not historical facts and are subject to a number of risks and uncertainties beyond the Corporation’s control. Readers are cautioned that such statements are not guarantees of future performance and that actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this press release. Accordingly, readers should not place undue reliance on forward-looking statements. The Corporation undertakes no obligation to publicly update or revise any forward-looking statements, except as required by law.

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New data reveals an 800 m mineralized corridor cut by a perpendicular 500 m fault zone

Montreal, Québec, March 2, 2023 ‒ TOMAGOLD CORPORATION (TSXV: LOT) (OTCQB: TOGOF) (“TomaGold” or the “Corporation”) is pleased to announce the results of geophysical work on its wholly owned Obalski property, located 2 km south of Chibougamau, Quebec.

In 2022, borehole geophysical surveys were conducted by Abitibi Geophysics on the Obalski property. The work began with the characterization of the electrical properties of the mineralized zones and the host rocks via borehole logging, which validated the use of two complementary technologies in a total of 22 drill holes: electromagnetism (EM) in the InfiniTEM XL configuration and induced polarization (IP) in the H2H-3D-IP configuration. In both cases, two orthogonal inducing field orientations were used to excite the mineralized zones, regardless of their orientation.

The new observed geophysical signatures, combined with those from the 2021 borehole EM survey (by Géophysique TMC) and known geological data, have allowed the construction of a coherent multi-parameter 3D model and established the following:

• The new data, specifically from the new mineralization extensions, show an east-west mineralized corridor with a strike length of nearly 800 m (see corridors “A” and “B” in Figure 1 below), cut by a perpendicular north-south fault zone that has been defined over a distance of 500 m but whose extensions have not yet been drill-tested.
• The known mineralization is confined to the two InfiniTEM “A” and “B” conductor corridors trending N110°, whose extension at depth and to the east and west have not yet been tested. These off-hole conductors have good potential as they are located in the immediate extension of mineralized zones known from drilling and display an identical geophysical signature (see Figures 2 and 3).
• The source of some off-hole InfiniTEM and H2H-3D-IP geophysical anomalies partially defined at the end of the hole could be tested by a simple extension of existing holes (including holes OBS-22-001, -002, -022, -024 and -025).
• A chargeable H2H-3D-IP zone trending N030° is interpreted as a fault or shear zone that may host significant remobilized mineralization (see Figures 4 and 5).
• Significant N110°-trending H2H-3D-IP chargeable anomalies on the southern footwall of the conductive massive lenses will further guide the location of test drilling within the modelled large InfiniTEM plates.

This new data supports a significant expansion of the Obalski search perimeter and further enhances the property’s economic potential. Approximately 5,000 metres of drilling is recommended to test the new geophysical targets. In addition, these results establish the relevance of InfiniTEM XL for exploration of the remainder of the Obalski property from the surface and other available drill holes.

“These results continue to show very good exploration potential at Obalski,” said David Grondin, President and CEO of TomaGold. “Our methodical, staged exploration approach of validating every parameter both geophysical and geological has allowed us to confirm the potential of the project. Following the upcoming release of the 2022 drill results for which we are conducting additional assay testing, we will be drilling additional holes in a significantly larger area than previously planned.”

Presentation of geophysical results on Obalski at PDAC

For more technical details on the nature of the geophysical surveys carried out and the results obtained, you are invited to visit the Abitibi Géophysique experts at Booth 1329 during PDAC 2023.

Figure 1: Geophysical interpretation of Obalski

Figure 2: InfiniTEM XL survey on Obalski viewed from above

Figure 3: InfiniTEM XL survey on Obalski viewed from 200°/00°

Figure 4: High chargeability zones on Obalski viewed from above

Figure 5: High metal factor zones on Obalski viewed from above

The technical content of this press release has been reviewed and approved by André Jean, P.Eng., the Corporation’s Director of Exploration and a qualified person under National Instrument 43-101.

About the Obalski property

The Obalski property covers 345 hectares about 2 km south of Chibougamau, Quebec. Discovered in 1928, the Obalski deposit produced 100,273 tonnes at grades of 1.14% Cu, 2.08 g/t Au and 6.04 g/t Ag from the A zone between 1964 and 1972, and around 9,000 tonnes at a reported grade of 8.5 g/t Au from the D zone in 1984 (Source: SIGEOM and Camchib Exploration internal reports).

About TomaGold

TomaGold Corporation (TSXV: LOT) (OTCQB: TOGOF) is a Canadian mineral exploration company engaged in the acquisition, assessment, exploration and development of gold, copper, rare earth elements and lithium projects. TomaGold holds interests in five gold properties near the Chibougamau mining camp in northern Quebec: Obalski, Monster Lake East, Monster Lake West, Hazeur and Doda Lake, as well as a 24.5% interest through a joint venture with Evolution Mining Ltd. and New Gold Inc. in the Baird property, located near the Red Lake mining camp in Ontario. In addition, it owns a 100% interest in a lithium property and in the Star Lake rare earth elements property, located in the James Bay region of Quebec.

Contact:

David Grondin
President and Chief Executive Officer
(514) 583-3490

www.tomagoldcorp.com

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Some of the statements contained in this press release are forward-looking statements within the meaning of applicable securities laws. Forward-looking statements can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “might” or “will” be taken, occur or be achieved. Forward-looking statements are not historical facts and are subject to a number of risks and uncertainties beyond the Corporation’s control. Readers are cautioned that such statements are not guarantees of future performance and that actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this press release. Accordingly, readers should not place undue reliance on forward-looking statements. The Corporation undertakes no obligation to publicly update or revise any forward-looking statements, except as required by law.

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Montréal, Québec, January 24, 2023 ‒ TOMAGOLD CORPORATION (TSXV: LOT) (OTCQB: TOGOF) (“TomaGold” or the “Corporation”) is pleased to report positive prospecting sampling results on its 100%-owned Star Lake property, located 120 km southeast of Radisson, in the James Bay area of Québec.

TomaGold has also doubled the size of its Star Lake property to 214 map-designated claims over an area of 10,906 ha (or 109 km²), the largest land position in the sector (see Figure 1). The property is characterized by multiple under-explored outcropping pegmatite intrusions that host unusual enrichment of rare earth elements (see Figure 2), and is located in one of the world’s most mining-friendly jurisdictions, with ample green energy sources.

Figure 1: Star Lake Property

In the fall of 2022, TomaGold asked Dahrouge Geological Consulting Ltd. to conduct a one-day prospecting visit on the property for the purpose of resampling historic grab samples (see Table 2) containing anomalous rare earth element values.

A total of nine chip samples were collected in the area, with one returning a total of 3.95% TREO (18,974 ppm Ce2O3, 10,849 ppm La2O3, 5,369 ppm Nd2O3, 1,931 ppm Pr2O3, 902 ppm Sm2O3, 184 ppm Dy2O3, 15 ppm Eu2O3, 511 ppm Gd2O3, 27 ppm Ho2O3, 51 ppm Tb2O3, 4 ppm Tm2O3 and 608 ppm Y2O3) (see Table 1). That particular sample was from a pegmatite intrusion that lies near a shear zone mapped by the Geological Survey of Quebec and near the contact between two lithological units (Laguiche 2a and 3a).

Given these promising results, TomaGold will organize a two-week-long prospecting campaign for early summer 2023.

“This initial TREO result, coupled with Star Lake’s historical results, seems to indicate that the property holds promising rare earth exploration potential, which we’ll be testing more this summer,” said David Grondin, President and CEO of TomaGold. “Rare earth elements are increasingly sought after as they play a critical role in permanent magnets and modern electronic applications such as electric vehicles, which supports our decision to acquire the largest land position in this part of James Bay. It is an interesting fact that since we acquired our property last fall, several mining companies have acquired claims around us, which could lead to more exploration activity andgreater recognition of the area going forward.”

Figure 2: Multiple outcropping pegmatites on the Star Lake property

 

Table 1: Results of the 2022 chip sample prospection program¹.

Sample	TREO (%)	La203 (ppm)	Ce2o3 (ppm)	Pr2o3 (ppm)	Nd2o3 (ppm)	Sm2o3 (ppm)	Eu2O3 (ppm)	Gd2O3 (ppm)	Tb2O3 (ppm)	Dy2O3 (ppm)	Ho2O3 (ppm)	Tm2O3 (ppm)	Y2O3 (ppm)
C00281802	0.0	2.8	4.7	0.6	2.1	0.5	0.5	0.7	0.2	1.3	0.4	0.3	12.1
C00281803	3.95	10849.2	18974.6	1931.0	5369.0	902.2	15.9	511.8	51.4	184.8	27.3	4.0	608.3
C00281804	0.0	20.1	38.9	4.3	12.0	2.7	0.5	2.3	0.3	1.4	0.2	0.1	7.5
C00281805	0.0	18.5	36.3	4.2	12.7	3.2	0.9	3.0	0.4	2.1	0.4	0.1	12.4
C00281806	0.0	9.3	14.8	1.6	4.1	0.6	0.5	0.5	0.1	0.3	0.1	0.0	2.5
C00281807	0.0	15.9	30.6	3.4	9.5	2.0	0.5	1.7	0.2	1.2	0.3	0.1	6.7
C00281808	0.0	81.4	175.7	18.0	48.3	10.0	0.8	7.4	1.1	6.0	1.3	0.7	31.7
C00281809	0.0	50.5	100.1	11.2	30.4	7.0	0.6	5.4	0.8	4.0	0.8	0.3	25.7
C00281810	0.0	7.6	6.7	0.8	2.4	0.5	0.5	0.5	0.1	0.4	0.1	0.0	2.5

¹Chip samples are selective by nature, and cannot be considered representative of the mineralization.

Table 2: Historical results from the main rare earth elements showings²

Sample	TREO (%)	La203 (ppm)	Ce2o3 (ppm)	Pr2o3 (ppm)	Nd2o3 (ppm)	Sm2o3 (ppm)	Eu2O3 (ppm)	Gd2O3 (ppm)	Tb2O3 (ppm)	Dy2O3 (ppm)	Ho2O3 (ppm)	Tm2O3 (ppm)	Y2O3 (ppm)
52871	0.5	2028.9	586.8	433.0	1225.0	185.0	4.0	178.1	13.5	37.3	4.7	0.7	137.2
52820	0.4	1243.1	586.8	292.6	867.0	161.2	2.2	141.8	12.7	42.2	5.6	1.0	156.8
52827	0.2	566.4	586.8	134.0	432.0	110.3	2.7	103.3	13.1	62.8	10.5	3.0	311.1

² The results contained in the table are historical. A TomaGold qualified person has not performed sufficient work to validate these results as defined by NI 43-101. Although the historical results may not be reliable, the Corporation nevertheless believes that they provide an indication of the property’s potential and are relevant for any future exploration program.

Grab samples were collected with the use of a rock hammer where possible and sample selection location was determined by the localization of historic sampling done on the property. All values over 0.4% TREO were visited and resampled. All lithogeochemical assay results of grab samples were provided by SGS Canada Inc, Minerals Services an ISO/IEC 17025, in Burnaby, British Columbia. Additional elements with over-limit detection were sent for more analysis in SGS Canada, Mineral Services an ASTM C204-84 certified laboratory, in Lakefield, Ontario. Analytical results are subject to industry-standard and National Instrument 43-101 compliant quality assurance/quality control (QA/QC) sample procedures internally at the laboratory, as described by SGS Canada.

The technical content of this press release has been reviewed and approved by André Jean, P.Eng., the Corporation’s Director of Exploration and a qualified person under National Instrument 43-101.

About TomaGold

TomaGold Corporation (TSXV: LOT) (OTCQB: TOGOF) is a Canadian mineral exploration company engaged in the acquisition, assessment, exploration and development of gold, copper, rare earth elements and lithium projects. TomaGold holds interests in five gold properties near the Chibougamau mining camp in northern Quebec: Obalski, Monster Lake East, Monster Lake West, Hazeur and Doda Lake, as well as a 24.5% interest through a joint venture with Evolution Mining Ltd. and New Gold Inc. in the Baird property, located near the Red Lake mining camp in Ontario. In addition, it owns a 100% interest in a lithium property and in the Star Lake rare earth elements property, located in the James Bay region of Quebec.

Contact:

David Grondin
President and Chief Executive Officer
(514) 583-3490
www.tomagoldcorp.com

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Some of the statements contained in this press release are forward-looking statements within the meaning of applicable securities laws. Forward-looking statements can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “might” or “will” be taken, occur or be achieved. Forward-looking statements are not historical facts and are subject to a number of risks and uncertainties beyond the Corporation’s control. Readers are cautioned that such statements are not guarantees of future performance and that actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this press release. Accordingly, readers should not place undue reliance on forward-looking statements. The Corporation undertakes no obligation to publicly update or revise any forward-looking statements, except as required by law.

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Montreal, Quebec, October 21, 2022 ‒ TOMAGOLD CORPORATION (TSXV: LOT) (OTCQB: TOGOF) (“TomaGold” or the “Corporation”) is pleased to announce the acquisition of 96 map-designated claims covering an area of 4,962.6 ha (or 50 km²), located 120 km southeast of Radisson and approximately 15 km south of the recently acquired claims in James Bay. The property will be known as Star Lake and has been the subject of geophysical surveys that have identified six rare earth element showings.

“The last two claim acquisitions allow TomaGold to diversify its assets in the critical metals sector at low cost,” said David Grondin, President and CEO of TomaGold. “The lithium and rare earth element markets are growing rapidly due to the scarcity of these metals and the acquisition of these properties represents opportunities that could not be passed up. This will only strengthen our portfolio of eight properties, including our flagship Obalski project, with results pending from the latest drill program.”

The Corporation has completed a recompilation of the available data and has updated the set of surface samples that were discovered in 2008. The Corporation is excited to present some of the best results that will be the subject of future exploration work.

Table 1: Best results from the main rare earth element showings ¹

Samples	Type	TREE  (%)	La (ppm)	Nd (ppm)	Pr    ppm)	Dy (ppm)	NdPr/TREE
52871	Pegmatite	0.43	1730	1225	370	32.5	0.37
52820	Pegmatite	0.35	1060	867	250	36.8	0.36
52827	Granite	0.24	483	432	114.5	54.7	0.26

(Source: MERN SIGEOM site, 2008)

¹ The results contained in the table are historical. A TomaGold qualified person has not performed sufficient work to validate these results as defined by NI 43-101. Although the historical results may not be reliable, the Corporation nevertheless believes that they provide an indication of the property’s potential and are relevant for any future exploration program.

 

Mr. Grondin added, “When we look at the table numbers, it is the NdPr/TREE ratios that catch our attention the most, as they are above 0.24. For reference purposes, a ratio greater than 0.20 is considered good, while a ratio greater than 0.24 is considered excellent by rare earth element producers. The Star Lake property appears to have interesting exploration potential and remains highly underexplored. We will soon begin a prospecting program, which will allow us to validate the historical results and better understand the geological potential of the property.”

As part of the sampling work done in 2008, a total of 14 samples returned zirconium (Zr) values that met the maximum detection limit of 500 ppm and were not further tested to determine the true values. The Corporation will also perform additional work to properly evaluate those previous results.

The technical content of this press release has been reviewed and approved by André Jean, P.Eng., the Corporation’s Director of Exploration and a qualified person under National Instrument 43-101.

About TomaGold

TomaGold Corporation (TSXV: LOT) (OTCQB: TOGOF) is a Canadian mineral exploration company engaged in the acquisition, assessment, exploration and development of gold, lithium and rare earth element projects. TomaGold holds interests in five gold properties near the Chibougamau mining camp in northern Quebec: Obalski, Monster Lake East, Monster Lake West, Hazeur and Doda Lake, as well as a 24.5% interest through a joint venture with Evolution Mining Ltd. and New Gold Inc. in the Baird property, located near the Red Lake mining camp in Ontario. In addition, it owns a 100% interest in a lithium property and in the Star Lake rare earth elements property, located in the James Bay region of Quebec.

Contact:

David Grondin

President and Chief Executive Officer

(514) 583-3490

www.tomagoldcorp.com

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Some of the statements contained in this press release are forward-looking statements within the meaning of applicable securities laws. Forward-looking statements can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “might” or “will” be taken, occur or be achieved. Forward-looking statements are not historical facts and are subject to a number of risks and uncertainties beyond the Corporation’s control. Readers are cautioned that such statements are not guarantees of future performance and that actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this press release. Accordingly, readers should not place undue reliance on forward-looking statements. The Corporation undertakes no obligation to publicly update or revise any forward-looking statements, except as required by law.

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Montreal, Quebec, September 21, 2022 ‒ TOMAGOLD CORPORATION (TSXV: LOT) (OTCQB: TOGOF) (“TomaGold” or the “Corporation”) is pleased to announce the acquisition of a 100% interest in 38 claims from Noranda Royalties and the acquisition of 69 map-designated claims covering a total area of 5,487.52 ha (or 55 km²). These claims are located near Zones 1, 2, 3 and 6 of the James Bay Lithium Brisk project optioned by Monger Gold and along and south of the Trans-Taiga regional road and power line infrastructure, approximately 5 km from the LG-3 airport. These claims are also located on the same geological corridor as the Cancet (5.6% Li2O over 36.5 m) and Corvette (1.65% Li2O over 159.7 m) projects, held by Winsome Resources and Patriot Battery Metals respectively, further east.

The project was identified for its prospective nature of lithium mineralization in pegmatite dykes during the compilation of geological data by Noranda Royalties. The project hosts several known pegmatite dyke outcrops. Historically, there has been no lithium exploration activity on the project, with the exception of a historical spodumene-bearing pegmatite showing that was identified by the Quebec Ministry of Energy and Natural Resources on June 17, 2015. In addition to the acquisition of the project from Noranda Royalties, the Corporation has also increased the size of its lithium property with the addition of map-designated claims, allowing it to be even better positioned in an area where exploration activity has been sustained for several months. The Corporation will soon begin a sampling and prospecting program on its entire property.

The acquisition terms for the Noranda Royalties claims are the following:

• Payment of $60,000 in cash by TomaGold, including:
  • $10,000 on the closing of the transaction;
  • $20,000 on the 6th month anniversary of the closing; and
  • $30,000 on the 12th month anniversary of the closing.
• Issuance of 1,000,000 common shares of TomaGold at closing.
• Noranda Royalties will receive a 2% net smelter return (NSR) royalty, of which 1% can be purchased by TomaGold for $1,000,000 in cash.

The transaction with Noranda Royalties is subject to regulatory approval.

EXPLORATION WORK ON THE OBALSKI PROPERTY, CHIBOUGAMAU

The 2,947-metre drilling program on Obalski has been completed and all samples have been sent to the ALS Global laboratory for analysis. A total of six holes were drilled in the new zone to the south that was identified by the 3D induced polarization (IP) survey conducted this winter. The Corporation will soon carry out new IP geophysical surveys in these last six holes and in old holes deemed relevant in the same area.

The technical content of this press release has been reviewed and approved by André Jean, P.Eng., the Corporation’s Director of Exploration and a qualified person under National Instrument 43-101.

About TomaGold

TomaGold Corporation (TSXV: LOT) (OTCQB: TOGOF) is a Canadian mineral exploration company engaged in the acquisition, assessment, exploration and development of gold, lithium and rare earth element projects. TomaGold holds interests in five gold properties near the Chibougamau mining camp in northern Quebec: Obalski, Monster Lake East, Monster Lake West, Hazeur and Doda Lake, as well as a 24.5% interest through a joint venture with Evolution Mining Ltd. and New Gold Inc. in the Baird property, located near the Red Lake mining camp in Ontario. In addition, it has a 100% interest in a lithium property in the James Bay region of Quebec.

Contact:

David Grondin
President and Chief Executive Officer
(514) 583-3490
www.tomagoldcorp.com

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Some of the statements contained in this press release are forward-looking statements within the meaning of applicable securities laws. Forward-looking statements can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “might” or “will” be taken, occur or be achieved. Forward-looking statements are not historical facts and are subject to a number of risks and uncertainties beyond the Corporation’s control. Readers are cautioned that such statements are not guarantees of future performance and that actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this press release. Accordingly, readers should not place undue reliance on forward-looking statements. The Corporation undertakes no obligation to publicly update or revise any forward-looking statements, except as required by law.