Mr. David Grondin reports

TOMAGOLD TAKES STRATEGIC POSITION IN THE LITHIUM SECTOR WITH THE ACQUISITION OF 107 CLAIMS NEAR THE LITHIUM BRISK PROJECT

TomaGold Corp. has acquired a 100-per-cent interest in 38 claims from Noranda Royalties and acquired 69 map-designated claims covering a total area of 5,487.52 hectares (or 55 square kilometres). 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 five km from the LG-3 airport. These claims are also located on the same geological corridor as the Cancet (5.6 per cent Li2O (lithium oxide) over 36.5 metres) and Corvette (1.65 per cent Li2O over 159.7 m) projects, held by Winsome Resources and Patriot Battery Metals, respectively, farther east.

The project was identified for its prospective nature of lithium mineralization in pegmatite dikes during the compilation of geological data by Noranda Royalties. The project hosts several known pegmatite dike 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 sixth-month anniversary of the closing;
  • $30,000 on the 12th-month anniversary of the closing.
• Issuance of one million common shares of TomaGold at closing;
• Noranda Royalties will receive a 2-per-cent net smelter return (NSR) royalty, of which 1 per cent can be purchased by TomaGold for $1-million 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 3-D 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 Andre Jean, PEng, the corporation's director of exploration and a qualified person under National Instrument 43-101.

About TomaGold Corp.

TomaGold 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-per-cent 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-per-cent interest in a lithium property in the James Bay region of Quebec.

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