Mr. David Grondin reports

TOMAGOLD ANNOUNCES UPDATE ON PRIVATE PLACEMENT

Further to TomaGold Corp.'s news releases dated Dec. 6, 2024, Dec. 23, 2024, and Dec. 31, 2024, it will not close any additional tranche of its previously announced non-brokered private placement. Pursuant to the closing of the private placement, the corporation issued an aggregate of 7.6 million common shares of the corporation at a price of two cents per common share and an aggregate of 13.8 million common shares on a flow-through basis (FT shares) at a price of 2.5 cents per FT share for aggregate gross proceeds of $497,000.

Of the total proceeds raised, $173,000 is to be paid to non-arm's-length parties, and the balance is to be used for general working capital purposes and certain project expenditures as set out in the attached table.

Closing of the private placement remains subject to final approval of the TSX Venture Exchange.

About TomaGold Corp.

TomaGold 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-per-cent 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-per-cent 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.