Highlights

• Completion of Phase 2 of the extension drilling program on holes TOM-25-009 to TOM-25-013: visual observations of mineralization in the drill core are extremely encouraging. Samples from holes TOM-25-009EXT and TOM-25-011EXT have been shipped to the laboratory, with assay results expected shortly. Samples from the remaining holes are currently being prepared.
• Launch of a major ground prospecting campaign targeting multiple untested historical showings across all optioned properties held from Chibougamau Independent Mines, Globex and SOQUEM.
• Borehole electromagnetic (BHEM) survey will soon begin in holes TOM-25-010, TOM-25-012 and TOM-25-015 to detect off-hole conductors and identify potential deep extensions of mineralized zones already intersected by drilling.
• Large-scale surface geophysical (UTEM) survey planned over a corridor measuring approximately 4 km by 2 km to identify new regional conductors and prioritize high-potential drill targets along the area’s main mineralized structures.
• Audio-frequency magnetotelluric (AMT) survey planned to map deep resistivity contrasts, better define the district’s structural architecture and identify corridors potentially associated with regional mineralized systems.

MONTRÉAL--(BUSINESS WIRE)--May 28, 2026-- TOMAGOLD CORPORATION (TSXV: LOT; OTCPK: TOGOF) (“TomaGold” or the “Company”) is pleased to announce the completion of Phase 2 of its extension drilling program at its Berrigan Mine project. The program, which focused on extending drill holes TOM-25-009 through TOM-25-013, was designed to test the core of modelled conductive plates at depth and evaluate the potential of the Berrigan Deep zone, discovered just before Christmas (see Figure 1).

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Figure 1: 3D plan view showing drill holes TOM-25-009 to TOM-25-013 and their planned extensions (blue lines) targeting the modeled conductive plate at depth, along with significant intersections from holes TOM-25-014 and TOM-25-015 within the Berrigan Deep zone.

The Company is encouraged by the systematic mineralization observed in the recovered drill core. Holes TOM-25-009EXT and TOM-25-011EXT have been logged and cut, and the samples have been shipped to the laboratory; assay results for these holes are expected shortly. Holes TOM-25-010EXT, TOM-25-012EXT and TOM-25-013EXT are currently being logged and cut.

Concurrently, encouraged by these positive geological indicators, TomaGold is launching a large-scale ground prospecting and exploration campaign. The program will cover all of the strategic option properties acquired from Chibougamau Independent Mines, Globex and SOQUEM. This cohesive package of claims forms a true consolidated mining camp in the heart of the Chibougamau mining district. Several high-priority historical mineralized showings that have never been subject to rigorous follow-up work will be evaluated and sampled over the coming weeks.

In addition, in order to optimize the structural understanding of the area and map the continuity of mineralized zones at depth, the Company will soon initiate a borehole electromagnetic (BHEM) survey in drill holes TOM-25-010, TOM-25-012 and TOM-25-015 to detect off-hole conductors and identify potential deep extensions of mineralized zones already intersected by drilling. The Company also plans to conduct a large-scale surface geophysical (UTEM) survey over a corridor measuring approximately 4 km by 2 km to identify new regional conductors and prioritize high-potential drill targets along the area’s main mineralized structures. Finally, an audio-frequency magnetotelluric (AMT) geophysical program is also planned to map deep resistivity contrasts, better define the district’s structural architecture and identify corridors potentially associated with regional mineralized systems. Importantly, both the UTEM and AMT surveys have the capacity to investigate depths of up to 2 km, enabling the identification of major structural corridors and potential concealed massive sulphide lenses.

David Grondin, President and CEO of TomaGold, said : “We look forward to receiving the assay results from our Phase 2 program at Berrigan Mine. The mineralization observed directly in the drill core strengthens our conviction that we have intersected the heart of a significant system. In the meantime, we are moving quickly to deploy our teams in the field to unlock the value of our extensive portfolio of optioned claims. Through the acquisition of the Chibougamau Independent Mines, Globex and SOQUEM property blocks, we now control what is effectively a consolidated mining district. Our objective is clear: conduct systematic follow-up work on numerous overlooked historical showings and leverage geophysics to define the next wave of high-value drill targets.”

Geological Context and Mining District Potential

The Berrigan Mine project hosts a system characterized by high-value polymetallic mineralization rich in both base and precious metals. Mineralization is concentrated along major shear zones and fracture corridors that correspond to highly conductive structures. During Phase 1, the system returned intersections of remarkable thickness and grade, including drill hole TOM-25-015, which returned 5.08% ZnEq (1.19 g/t AuEq) over 98.5 m (including 23.20% ZnEq over 4.90 m), and drill hole TOM-25-014, which returned 24.85% ZnEq (5.83 g/t AuEq) over 2.1 m (see notes below). The recent Phase 2 extension drilling intersected these target zones at depth, visually confirming the continuity and robustness of the system across the Berrigan Deep structure.

Regionally, the consolidation of the Chibougamau Independent Mines, Globex and SOQUEM option blocks provides TomaGold with a diversified and highly strategic geological footprint. The district is known to host two principal styles of mineralization:

1. Vein-hosted gold and copper-gold (Cu-Au) systems associated with regional shear structures.
2. Massive sulphide lenses rich in zinc, gold and silver, similar to the geological setting at Berrigan Mine.

The ground prospecting program will specifically focus on reassessing historical surface showings to determine whether they represent repetitions or lateral extensions of these two major metallogenic models.

Notes:

• AuEq calculation was based on US$4,150/oz Au, $51.34/oz Ag, US$5.023/lb Cu and $1.392/lb Zn. AuEq = Au g/t + (Ag g/t × 0.01237) + (Cu ppm × 0.000083) + (Zn ppm × 0.000023), applying metallurgical recovery factors of 95% for zinc, 85% for gold and silver, and 90% for copper, based on a metallurgical report on Berrigan Mine zinc material prepared by Process Research Associates Ltd. in February 2002 and on recoveries from nearby deposits for gold, silver and copper.
• ZnEq calculation was based on US$4,047/oz Au, $50.22/oz Ag, US$4.796/lb Cu and $1.390/lb Zn. ZnEq = Zn ppm + (Ag g/t × 527) + (Au g/t x 42466) + (Cu ppm × 3.45) / 10,000, applying metallurgical recovery factors of 95% for zinc, 85% for gold and silver, and 90% for copper, based on a metallurgical report on Berrigan Mine zinc material prepared by Process Research Associates Ltd. in February 2002 and on recoveries from nearby deposits for gold, silver and copper.

About the Berrigan Mine Project

The Berrigan Mine property consists of 16 claims totalling 483 hectares located 4 km north-northwest of the town of Chibougamau. TomaGold has an option to acquire 100% 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 grading 3.17% Zn and 1.77 g/t Au 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 September 13, 2023.

Technical Disclosure

The drilling program was managed by Explo-Logik of Val-d’Or, Québec. 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 µm cutoff. 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% Cu-Zn 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, P.Geo., Vice President of Exploration of the Company, and Suzie Tremblay, P.Geo., 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

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 Québec and Ontario. The Company’s core assets are located in the Chibougamau Mining Camp in northern Québec, where it owns the Obalski gold-copper-silver project and holds options to acquire 12 additional properties, including the Berrigan Mine, Brosnan, Radar 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.

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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.

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David Grondin
President and Chief Executive Officer
(514) 583-3490
www.tomagoldcorp.com

Source: TomaGold Corp.