Mr. David Grondin reports

TOMAGOLD CLOSES $974,125 FIRST TRANCHE OF PRIVATE PLACEMENT AND GRANTS OPTIONS

TomaGold Corp. has closed a first tranche of $974,125 of a non-brokered private placement of up to $2-million. The private placement comprises (i) common shares in the capital of the corporation issued on a flow-through basis at a price of 5.5 cents, and (ii) units of the corporation at a price of five cents. Under the first tranche, the corporation issued 15,420,455 FT shares for gross proceeds of $848,125, and 2.52 million units for gross proceeds of $126,000.

Each unit is composed of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder thereof to purchase one common share of the corporation at a price of 7.5 cents for a period of 24 months from its issuance.

In connection with the first tranche, the corporation paid cash finder's fees of $56,000 and issued 1,018,181 finder's warrants to an eligible finder. Each finder's warrant entitles the holder thereof to purchase one common share of the corporation at a price of 7.5 cents for a period of 24 months from its issuance. No insiders participated in the first tranche.

All securities issued in connection with the private placement are subject to a statutory hold period of four months and a day from the closing of each tranche of the private placement in accordance with applicable securities laws. The corporation will use the proceeds of the private placement for general exploration and working capital, and the proceeds raised from the sale of the FT shares will be used for eligible flow-through expenditures. The private placement is subject to the final approval of the TSX Venture Exchange.

Grant of options

The corporation also announces that it has granted an aggregate of 900,000 stock options under its stock option plan to certain consultants of the corporation, entitling them to acquire the same number of common shares of the corporation at a price of five cents for a period of five years.

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 owns a 100-per-cent interest in a lithium property and in the Star Lake rare earth elements property, located in the James Bay region of Quebec.

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