TomaGold Announces Strategic Investment of $2.5 million by IAMGOLD Monster Lake Project: a Key Asset of this Transaction

PRESS RELEASE

TSXV: LOT

TomaGold Announces Strategic Investment of $2.5 million by IAMGOLD

Monster  Lake  Project:  a  Key  Asset  of  this  Transaction    

Montreal,   Quebec,   August   10,   2017   -­‐   TOMAGOLD   CORPORATION   (TSXV:  LOT)   (“TomaGold”   or   the “Corporation”)  is  pleased  to  announce  that  IAMGOLD  Corporation  ("IAMGOLD")  has  agreed  to  subscribe by  way  of  private  placement  27,777,777  common  shares  of  TomaGold  at  a  price  of  $0.09  per  common share  for  gross  proceeds  of  approximately  $2,500,000.  On  closing  date  of  the  transaction,  IAMGOLD  will own  approximately  19.98%  of  the  issued  and  outstanding  common  shares  of  TomaGold  on  a  non-­‐diluted basis.

David  Grondin,  TomaGold’s  President  and  CEO,  stated:  “We  are  extremely  pleased  and  proud  to  have IAMGOLD  as  a  strategic  partner,  as  well  as  an  exploration  partner.  This  transaction  confirms  IAMGOLD’s growing  interest  in  the  Monster  Lake  Project,  which  we  believe  has  potential  to  develop  into  a  mine  with continued  exploration  success.  The  last  set  of  results  on  Monster  Lake  (see  press  release  dated  July  6, 2017)  have  confirmed  the  presence  of  further  high-­‐grade  intersections,  continuing  to  demonstrate  the high  grade  gold  potential  of  the  project.  The  proceeds  from  this  transaction  will  allow  us  to  prepare  a strategic   framework   aimed   at   exploring   our   other   promising   projects   with   the   objective   of   increasing their  value  for  our  shareholders.”

On   closing   of   the   investment,   IAMGOLD   and   TomaGold   will   enter   into   an   investor   rights   agreement pursuant   to   which   IAMGOLD   will   have   the   right   to   participate   in   certain   equity   financings   in   order   to maintain  its  interest  of  up  to  19.98%  in  TomaGold.  Also,  TomaGold  and  IAMGOLD  have  agreed  that  a portion   equal   to   $1,250,000   of   the   private   placement   shall   qualify   as   work   expenditures   relating   to exploration  and  evaluation  activities  for  the  Monster  Lake  project.

The   proceeds   from   the   $2,500,000   private   placement   will   be   primarily   used   for   exploration   on TomaGold’s  properties,  as  well  as  for  working  capital  and  general  corporate  purposes.  All  of  the  securities issued  under  this  transaction  will  be  subject  to  a  hold  period  of  four  months  and  one  day  from  the  closing date   in   accordance   with   applicable   Canadian   securities   laws.   The   closing   of   the   private   placement   is expected   to   occur   in   the   next   30   days.   Completion   of   the   private   placement   is   subject   to   customary closing  conditions.

About  TomaGold  Corporation  

TomaGold   Corporation   is   a   Canadian   mineral   exploration   company   engaged   in   the   acquisition, assessment,   exploration   and   development   of   gold   mineral   properties.   To   optimize   its   chances   of discovery  and  minimize  its  exploration  risk,  TomaGold  aims  to  develop  high-­‐grade  gold  properties  with major  mining  companies.  It  currently  has  joint  venture  agreements  with  IAMGOLD  Corporation  for  the Monster  Lake  project,  with  Goldcorp  Inc.  for  the  Sidace  Lake  property,  and  with  Goldcorp  Inc.  and  New Gold   Inc.   for   the   Baird   property.   TomaGold   has   interests   in   six   gold   properties   in   northern   Quebec:

Monster   Lake,   Winchester,   Lac-­‐à-­‐l'Eau-­‐Jaune,   Monster   Lake   East,   and   Obalski   near   the   Chibougamau mining  camp.  It  also  holds  a  39.5%  interest  in  the  Sidace  Lake  property  and  a  24.5%  in  the  Baird  property near   the   Red   Lake   mining   camp   in   Ontario.   Finally,   it   has   an   option   to   acquire   a   70%   interest   in   the Hazeur  property,  at  the  southern  edge  of  the  Monster  Lake  group  of  properties.

Contact:

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

Neither the TSX Venture Exchange nor its regulation 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. The statements in this news release that are not historical facts are "forward-looking statements". Readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results may vary materially from those described in such "forward-looking" statements.