TomaGold announces that its Joint Venture partner IAMGOLD has commenced a drilling program at Monster Lake and confirms that an initial resource estimate is in progress IAMGOLD starts a 7,500-metre winter drilling program

PRESS RELEASE

TSXV: LOT

TomaGold announces that its Joint Venture partner IAMGOLD has

commenced a drilling program at Monster Lake and confirms that

an initial resource estimate is in progress

IAMGOLD starts a 7,500-metre winter drilling program

Montreal, Quebec, January 22, 2018 - TOMAGOLD CORPORATION (TSXV:LOT) (“TomaGold” or the

“Corporation”) is pleased to announce that IAMGOLD Corporation (“IAMGOLD”) has confirmed that an

initial resource estimat e is under way for its Monster Lake joint venture project (IAMGOLD: 50%,

TomaGold: 45%, and Quinto Resources Inc.: 5% on the Monster Lake block of claims), located 50 kilometres

southwest of Chibougamau, Quebec, Canada. The estimate , which will be performe d in accordance with

National Instrument 43-101, will be based on data from more than 80,000 metres of drilling completed by

IAMGOLD, Tom aGold and previous explorers , including approximately 38,000 metres from the 325 -

Megane zone area. The estimate will be supported by a 43-101 technical report.

IAMGOLD also commences its 2018 exploration program which will include this winter the completion of

approximately 7,500 metres of diamond drilling on the Monster Lake property. The drilling progra m

includes: definition drilling targeting the upper part of the 325-Megane zone; testing for extensions along

strike and at depth ; and evaluat ion of newly discovered areas of mineralization adjacent to the 325 -

Megane zone along the Monster Lake structural corridor and in the Lower Shear zone. The program is

designed to improve confidence and extend the known mineralized zones. Drilling has started.

“We are delighted that IAMGOLD has initiated a first resource estimate for Monster Lake,” said David

Grondin, President and Chief Executive Officer of TomaGold. This will mark a significant milestone in the

exploration of the Monster Lake project. In addition, IAMGOLD continues to advance its ongoing

exploration of the property , with a new drilling prog ram targeting high -potential targets for additional

mineralization. Together with the resource estimate, this drilling program will continue to advance the

Monster Lake project significantly.”

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, Obalski and Lac Cavan 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 n ear 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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Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. The stateme nts 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

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