Mr. David Grondin reports

TOMAGOLD BOREHOLE EM SURVEY CONFIRMS BERRIGAN DEEP ZONE

TomaGold Corp. has interpreted results of the borehole electromagnetic (BHEM) survey completed on its Berrigan mine project, located in the Chibougamau mining camp.

The survey, conducted by Abitibi Geophysics, modelled 10 conductive plates of varying orientation and size that not only corroborate the high-grade intersections already announced, but also indicate significant extension potential, particularly with the discovery of the Berrigan Deep zone.

David Grondin, president and chief executive officer of TomaGold, stated: "The geophysics confirm what our drill cores indicated: Berrigan mine sits on a large-scale mineralized system. The BER-14C plate, in particular, extends the mineralization signature of holes TOM-25-014 and TOM-25-015 with a vector pointing to an even more conductive zone to the northeast."

Technical analysis of the plates

The survey uses Terrascope PRO5U transmitters (up to 15 kilowatts) powered by a Wildcat generator to transmit a bipolar signal in a 530-by-560-metre surface loop with a current of 30 A. The borehole measurements are taken at frequencies of five hertz and one Hz using a GPS-synchronized DigiAtlantis triaxial probe, which captures the components of the magnetic field. Finally, the data are processed and modelled using specialized Maxwell and Oasis Montaj software.

Next steps

TomaGold plans to:

1. Drill three new holes (TOM-26-016 to TOM-26-018) to test the northeast and depth extensions of the BER-14C conductive plate;
2. Conduct additional follow-up drilling to extend holes TOM-25-010, 011 and 013 with the goal of reaching modelled targets, and drill a corner hole from hole TOM-25-015;
3. Conduct a low-frequency surface electromagnetic (EM) survey to better define the thickness, continuity and lateral extent of the mineralized system.

About the Berrigan mine project

The Berrigan mine property consists of 16 claims totalling 483 hectares located four kilometres north-northwest of the town of Chibougamau. TomaGold has an option to acquire 100 per cent of the property from Chibougamau Independent Mines Inc.

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 1.39 Mt (million tonnes) grading 3.17 per cent Zn (zinc) and 1.77 grams per tonne Au (gold) on the main Berrigan mine zone. No resource classifications were given for the resource (GM61359).

The mineral resource estimate presented above is historical in nature and was not prepared in accordance with National Instrument 43-101 standards. Accordingly, the reader is cautioned not to rely on this estimate, as the company is not treating the estimate as a current mineral resource. The qualified person has not done sufficient work to make the resource current. Substantial data compilation, verification, and, potentially, additional drilling and resampling would be required by a qualified person before the historical estimate could be classified as a current mineral resource. There can be no assurance that any portion of the historical mineral resource will ultimately be confirmed or demonstrated to be economically viable. For further information regarding the Berrigan mine project, please consult the press release dated Sept. 13, 2023.

Technical disclosure

The drilling program was managed by Explo-Logik of Val d'Or, Que. Drill core was split in half, with one-half submitted to AGAT Laboratories at Val d'Or for analysis. Gold was analyzed by fire assay (50 g) with atomic absorption finish, while base metals were analyzed by four-acid digestion with ICP-OES finish. Samples with gold grades greater than 10 g/t are reprocessed using metallic screening with a 106-micrometre cut-off. The processed material is split and analyzed by fire assay with ICP-OES finish to extinction. A separate split is prepared to independently analyze mineralized intervals with a target grade greater than 1.00 perp cent Cu-Zn (copper-zinc) using a Na2O2 fusion with ICP-OES or ICP-MS finish. Sample preparation duplicates, certified reference standards and blanks are inserted into the sample stream.

The technical content of this press release has been reviewed and approved by Jean Lafleur, PGeo, vice-president of exploration of the company, and Suzie Tremblay, PGeo, vice-president of operations at Explo-Logik Inc. and a consultant to TomaGold, each acting as a qualified person under National Instrument 43-101.

About TomaGold Corp.

TomaGold 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-per-cent 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.

We seek Safe Harbor.