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  

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