TomaGold Completes Initial Two-Year SOQUEM Option Commitments and Provides Corporate Update
TomaGold Corp. (TSXV: LOT; OTCPK: TOGOF) ("TomaGold" or the "Company") is pleased to announce that it has fulfilled all acquisition commitments for the first two years of its option agreements with SOQUEM to acquire a 100% interest in the Williams, David, Brosman, Radar, Dufault, McKenzie and Bruneau properties. This achievement marks continued steady progress across the Company's Chibougamau project portfolio. TomaGold also wishes to provide an update on recent corporate and exploration activities.
Exploration Work Update
TomaGold is awaiting the final geophysical survey report and assay results for the eight drill holes completed on the David Project. Results are also pending for five drill holes from the Berrigan Mine Project, as disclosed in the Company's October 22, 2025 press release.
The Company is also preparing a winter drilling program for the Radar Project, where 26 high-priority targets have been identified.
In addition, TomaGold has staked 49 new claims located between the Berrigan Mine property and the David and William properties, effectively consolidating and connecting the western portion of its Chibougamau land package. Preliminary exploration work on these newly acquired claims is planned for 2026.
Financing and Contingent Payment Update
TomaGold is pleased to report that the $2,250,000 proposed financing announced on November 7, 2025 is advancing well, with a first closing expected shortly.
Regarding the $1,000,000 contingent payment owed to TomaGold following the sale of its Hazeur, Monster Lake East and Monster Lake West properties (announced on October 22, 2025), developments continue to advance positively. Northern Superior Resources Inc. reported on November 17, 2025 that it has filed and is in the process of mailing its management information circular and related materials for its special meeting of shareholders scheduled for December 10, 2025.
Victim of Financial Fraud
The Company was recently the victim of a sophisticated financial fraud totaling US$300,000. The scheme was carried out by external parties operating out of Singapore, Geneva and Milan. TomaGold is taking all appropriate measures, including working closely with law enforcement authorities in Montréal and Milan, to investigate the matter and pursue all avenues to bring the perpetrators to justice.
While regrettable, this incident does not affect TomaGold's ongoing operations and has no impact on the strong potential of its mining projects in Chibougamau, Québec.
CIM Transaction Update
Further to the September 22, 2025 press release announcing the closing of the Chibougamau Independent Mines Inc. ("CIM") option agreement, final approval from the TSX Venture Exchange remains contingent on TomaGold filing a NI 43-101 technical report on the CIM Properties. The report is almost completed and will be completed and submitted in a timely manner.
The technical content of this press release has been reviewed and approved by Jean Lafleur, P.Geo., the Company's Vice President of Exploration and a qualified person under National Instrument 43-101.
About TomaGold
TomaGold Corp. (TSXV: LOT, OTCPK: TOGOF) is a Canadian junior mining company focused on the acquisition, exploration, and development of high-potential precious and base metal projects, with a primary focus on gold and copper in Quebec and Ontario. The Company's core assets are located in the Chibougamau Mining Camp in northern Quebec, where it owns the Obalski gold-copper-silver project and holds options to acquire 12 additional properties, including the Berrigan Mine, Radar, David, and Dufault projects. TomaGold also holds a 24.5% joint venture interest in the Baird gold property near the Red Lake Mining Camp in Ontario. In addition, the Company has lithium and rare earth element (REE) projects in the James Bay region, strategically positioned near significant recent discoveries.
Cautionary Statement on Forward-Looking Information
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include the potential results of exploration and drilling activities, market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates, opinions, or other factors should change.
Neither TSX Venture Exchange nor its Regulations 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.
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Contact
David Grondin
President and Chief Executive Officer
(514) 583-3490
www.tomagoldcorp.com
