TomaGold hires Evans & Evans to carry out an independent valuation of its assets
PRESS RELEASE
TSXV: LOT
TomaGold hires Evans & Evans to carry out
an independent valuation of its assets
Montreal, Quebec, May 25, 2020 - TOMAGOLD CORPORATION (TSXV: LOT) (“TomaGold” or the
“Corporation”) announces that it has retained Evans & Evans, Inc. , a leading Canadian boutique
Investment Banking firm, to conduct an independent valuation of its assets. The valuation report will be
delivered to the Corporation in the coming weeks.
“With the strong surge in the gold price, we believe that TomaGold's asset s have gained in value,
particularly the Monster Lake property, whose high-grade inferred resource is estimated at 1,109,700
tonnes at an average grade of 12.14 g/t Au for a total of 433,300 ounces of gold (see press release dated
March 28, 2018), of which we own 22.5% with IAMGOLD Corporation (75%) and Quinto Resources Inc.
(2.5%),” said David Grondin, President and Chief Executive Officer of TomaGold.
“This valuation report will allow us to get a true picture of the value of our assets and will also guide the
choices we will make regarding the future of TomaGold, including the spin-out transaction or the sale of
some of our assets. Since the resurgence of the gold market, we have seen some renewed interest from
the mining community in our assets and we will ensure that our future decisions are in the best interest
of our shareholders,” concluded Mr. Grondin.
About TomaGold Corporation
TomaGold Corporation is a Canadian mineral exploration Corporation engaged in the acquisition,
assessment, exploration and development of gold mineral properties. It currently has joint venture
agreements with IAMGOLD Corporation for the Monster Lake project and with Newmont Corporation
and New Gold Inc. for the Baird property. TomaGold has interests in seven gold properties near the
Chibougamau mining camp in northern Quebec: Monster Lake, Winchester, Lac à l'eau jaune, Monster
Lake East, Monster Lake West, Obalski and Lac Doda. It also holds a 24.5% interest in the Baird property
near the Red Lake mining camp in Ontario, and has 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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