Chibougamau Updates Agreement with TomaGold
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Chibougamau Updates Agreement with TomaGold
ROUYN-NORANDA, QUÉBEC - Chibougamau Independent Mines Inc. (CBG-TSX-V in Canada, CLL1 -
Frankfurt, Stuttgart, Berlin and Lang & Schwarz Stock Exchanges in Germany, CMAUF -OTC in the US) ,
herein called Chibougamau, wishes to inform shareholders that it has amended its agreement with
TomaGold Corp. wherein TomaGold has the opportunity of acquiring , under an option, 100% interest in
Chibougamau’s Berrigan South, Berrigan Mine, Antoinette, Elaine Lake and Gwillim properties northwest
of the Town of Chibougamau, Quebec.
Consideration under the updated agreement now stands at:
• $2,700,000 in cash payments , of which $300,000 has been completed, and the balance to be
paid as follows: (i) $50,000 upon receipt of the TSXV approval; (ii) $150,000 no later than
December 31, 2025 (the “Second Anniversary”); (iii) $200,000 no later than three (3) years after
the Effective Date (the “ Third Anniversary”); (iv) $500,000 no later than four (4) years after the
Effective Date (the “ Fourth Anniversary ”); (v) $750,000 no later than five (5) years after the
Effective Date (the “ Fifth Anniversary”); and (vi) $750,000 no later than six (6) years aft er the
Effective Date (the “Sixth Anniversary”);
• $1,850,000 in common shares (each a “ Consideration Share”) of the Company at the VWAP on
the applicable anniversary date, of which $450,000 worth has been completed by the issuance of
9,000,000 Consideration Shares, and the balance to be issued as follows: (i) $200,000 worth on
the Second Anniversary; (ii) $200,000 worth on the Third Anniversary; (iii) $300,000 worth on the
Fourth Anniversary; (iv) $350,000 worth on the Fifth Anniversary; and (v) $350,000 worth on the
Sixth Anniversary; and
• $5,600,000 in exploration expenditures on the Chibougamau Properties as follows: (i) $600,000
no later than the Second Anniversary; (ii) $800,000 no later than the Third Anniversary; (iii)
$1,200,000 no later than the Fourt h Anniversary; (iv) $1,500,000 no later than the Fifth
Anniversary; and (v) $1,500,000 no later than the Sixth Anniversary.
The initial exchange approved transaction terms were announced on September 13, 2023.
This press release was written by Jack Stoch, P. Geo., President and CEO of Chibougamau Independent
Mines Inc.
Press Release
September 30, 2025
61,065,536 shares issued and outstanding
Page 2
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.
We Seek Safe Harbour.
CUSIP Number 167101 203
LEI 529900GYUP9EBEF7U709
For further information, contact:
Jack Stoch, P.Geo., Acc.Dir.
President & CEO
Chibougamau Independent Mines Inc.
86, 14th Street
Rouyn-Noranda, Quebec Canada J9X 2J1
Tel.: 819.797.5242
Fax: 819.797.1470
www.chibougamaumines.com
Forward Looking Statements
Except for historical information this News Release may contain certai n “forward looking statements”. These
statements may involve a number of known and unknown risks and uncertainties and other factors that may
cause the actual results, level of activity and performance to be materially different from the Companies
expectations and project ions. A more detailed discussion of the risks is available under “disclaimer” on the
Company’s website.