CBG.V · 2025-09-30 12:00:00

Update on Drilling on Chibougamau’s Berrigan Mine Asset

Exploration Programs

_____________________________________________________________________________________

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, is pleased to report that Tomagold Corporation (LOT-TSXV, TOGOF-OTCPK) has provided an update

as regards recent drilling on the Berrigan Mine claims in the Chibougamau area of Quebec. The Berrigan Mine claims

and a large number o f others are under option from Chibougamau Independent Mines Inc. as updated in a CBG

press release dated 2025-09-30.

Previous Phase 1 drilling intersected the historical Berrigan Mine mineralization but also in two drill hole TOM-25-

015 and Tom-25-014 intersected 5.08 ZnEq (1.19 g/t AuEq over 98.5 m including 23.20% ZnEq over 4.90 m from

the new lower zone and 24.85% ZnEq (5.83 AuEq) over 2.1 m in the Berrigan zone and 13.68 ZnEq (3.17 g/t AuEq)

in the new lower zone respectively as reported in TomaGold’s. See “Notes” below for basis of grades calculation.

Table 1: Results from drill holes TOM-025-14 and TOM-025-15 on the Berrigan Mine project

Hole ID From

(m)

Length

(m)

ZnEq

(%)

AuEq

(g/t)

(ppm)

TOM-

25-014

185.00

187.10

2.10

28.69

6.73

4.94

56.44

545

45509

238.70 239.85 1.15 23.29 5.43 2.63 22.20 1590 104000

251.20 252.60 1.40 41.79 9.80 7.44 37.30 552 80400

405.30 406.70 1.40 14.99 3.48 1.13 13.15 655 92514

423.30 426.30 3.00 2.34 0.54 0.07 5.45 493 15700

451.50 457.50 6.00 1.34 0.31 0.08 3.45 7

7882

TOM-

25-015

132.55

141.00

8.45

4.22

0.99

0.51

5.51

338

16610

155.70 157.70 2.00 31.75 7.42 4.66 26.90 684 102850

182.10 202.20 20.10 2.55 0.60 0.36 3.20 265 7687

451.20 549.70 98.50 5.75 1.34 0.82 3.21 386 19751

including 452.20 457.10 4.90 26.67 6.26 4.69 18.80 2897 47876

and

including

500.35

549.70

49.35

7.26

1.69

0.90

3.48

310

31250

Including 521.00 535.60 14.60 10.26 2.39 1.34 5.91 420 41158

Including 537.85 541.10 3.25 9.94 2.31 0.88 3.85 529 58200

Including 542.00 548.20 6.20 14.82 3.45 1.63 5.26 511 74276

Press Release

May 29, 2026

61,755,191 shares issued and outstanding

Page 2

Notes: The reported widths represent core lengths. True width is estimated to be approximately 80-85% of the

core length, depending on the deviation angles.

Phase 2 drilling was focused upon extending 5 drill holes TOM-25-009 to TOM 25-013 inclusive in order to intersect

the new zone as the previous drilling was focused upon the historical shallower mineralization.

In TomaGold’s press release dated 2026-05-28, Tomagold reports: “ 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 further below).

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 planne d 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.”

Page 3

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.

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.

This press release was written by Jack Stoch, P. Geo., President and CEO of Chibougamau Independent Mines Inc.

in his capacity as a Qualified Person (Q.P.) under NI 43 -101. 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, eac h acting as a Qualified

Person under National Instrument 43-101."

Page 4

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

[email protected]

www.chibougamaumines.com

Forward Looking Statements

Except for historical information this News Release may contain certain “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 projections. A more detailed discussion of the risks is available under “disclaimer” on the Company’s website.

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