TomaGold reports that IAMGOLD intersected 121.67 g/t Au over 3.1 metres on Monster Lake IAMGOLD expands Monster Lake’s gold potential

PRESS RELEASE

TSXV: LOT

TomaGold reports that IAMGOLD intersected 121.67 g/t Au

over 3.1 metres on Monster Lake

IAMGOLD expands Monster Lake’s gold potential

Montreal, Quebec, May 11 , 2017 - TOMAGOLD CORPORATION (TSXV: LOT) (“TomaGold” or the

“Corporation”) is pleased to report that IAMGOLD Corporation (“IAMGOLD”) today provided an update

on the ongoing exploration program at its Monster Lake joint venture project (IAMGOLD: 50%;

TomaGold: 45%) located 50 kilometres southwest of Chibougamau, Quebec, Canada. IAMGOLD reported

assay results from the first eleven drill holes, totaling just over 5,100 metres, from a total of 24 diamond

drill holes, totaling 10,657 metres, completed this past winter.

The assay results are provided in Table 1 below and include the following highlights:

(A drill hole plan map and longitudinal sections are attached to this news release.)

Monster Lake Shear Zone, Megane Zone and Annie Shear Zone:

• Drill hole ML17-190: 4.4 metres grading 5.21 g/t gold

o Includes: 1.3 metres grading 15.99 g/t gold

and 1.9 metres grading 9.82 g/t gold

o Includes: 0.6 metres grading 25.10 g/t gold

and 0.6 metres grading 36.90 g/t gold

• Drill hole ML17-194: 3.1 metres grading 121.67 g/t gold

o Includes: 1.1 metres grading 316.89 g/t gold

Lower Shear Zone:

• Drill hole ML17-191: 1.8 metres grading 85.27 g/t gold

The 2017 winter drilling program was designed to target high potential areas along the 3 -kilometre trend

of the Monster Lake Structural Corridor (“MLSC”) and associated shear zones to improve confidence and

expand known zones of mineralization, including the recently discovered second zone located 200 to 400

metres to the north of the Megane Zone, as well as mineralization in a parallel lower shear zone.

Structural patterns suggest the potential for additional mineralized shoots along this major corridor.

The results from hole ML17 -190 drilled in the new zone to the north of the Megane Zone confirm

previous results in hole ML15 -147 that intersected multiple mineralized shears and may indicate an

extension of the zone. Two areas of mineralization were also intersected in the Lower Monster Lake

Shear Zone in drill holes ML17-184 and 191 which will require further testing. Infill drilling in the Megane

Zone positively demonstrated continuity of the very high grade nature of this lens where tested. Further

results from this drilling program are pending and will be assessed when they are received, validated and

compiled.

“We are extremely pleased with this new set of resu lts, as it expands Monster Lake ’s high-grade gold

potential,” said David Grondin, President and CEO of TomaGold. “IAMGOLD’s strategic approach towards

developing Monster Lake is continuing to bear fruit. We strongly believe that their technical team will be

able to unlock the full value of this project, as numerous high-grade intersections and targets have been

identified since they began working on Monster Lake.”

Next Steps

Once the remaining assay results are received by IAMGOLD , they will be assessed and may lead to an

estimation of an initial mineral resource by year end. Further drilling will be required to evaluate the

potential of the new mineralized areas, the timing of which will be dependent on ground conditions to

allow the access of drilling equipment.

About the Monster Lake Project

The Monster Lake project is un derlain by Archean volcanic rocks of the Obatogamau Formation and is

traversed by an important deformation corridor and associated gold -bearing mineralized structures.

Historical drilling and exploration by TomaGold have identified a four-kilometre long structural corridor,

along which most of the known gold occurrences discovered to date on the property ar e associated,

including the Megane Zone.

IAMGOLD holds a 50% interest in the Monster Lake project , whereas TomaGold holds a 45% interest .

Pursuant to an earn-in option agreement with TomaGold amended on October 30, 2015, IAMGOLD holds

an option to earn a further 25% undivided interest, for a total 75% undivided interest in the project,

should it spend a further C$10.0 million on the project within a seve n-year period, beginning January 1,

2015. Should a development decision be made by the joint venture, or should the joint venture declare

commercial production, TomaGold would be entitled to a further C$1.0 million payment. IAMGOLD has

completed its first year commitment under the terms of the amended option earn in agreement.

Technical Information and Quality Control Notes

The drilling results contained in this news release have been prepared in accordance with National

Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101").

The "Qualified Person" responsible for the supervision of the preparation and review of this information is

Marie-France Bugnon, P. Geo., General Manager Exploration. Marie -France is considered a "Qualified

Person" for the purposes of National Instrument 43 -101 with respect to the technical information being

reported on. The technical information has been included herein with the consent and prior review of the

above noted Qualified Person. The Qualified person h as verified the data disclosed, and data underlying

the information or opinions contained herein.

The sampling of, and assay data from, drill core is monitored through the implementation of a quality

assurance - quality control (QA-QC) program designed to follow industry best practice. Drill core (NQ size)

samples are selected by the IAMGOLD geologists and sawn in half with a diamond saw at the project site.

Half of the core is retained at the site for reference purposes. Sample intervals may vary from half a metre

to one and a half metres in length depending on the geological observations.

Samples are transported in sealed bags to ALS Minerals Laboratory located in Val -d’Or, Québec. Samples

are coarse crushed to a -10 mesh and then a 1000 gram split is pulverized to 95% passing -150 mesh. ALS

Minerals processes analytical pulps directly at their facilities located in Val -d’Or which is ISO / IEC 17025

certified by the Standards Council of Canada. Samples are analyzed using a standard fire assay with a 50

gram charge with an Atomic Absorption (AA) finish. For samples that return assay values over 5.0 grams

per tonne (g/t), another pulp is taken and fire assayed with a gravimetric finish. Core samples showing

visible gold or samples which have retu rned values greater than 10.0 g/t are re -analyzed by pulp metallic

analysis. IAMGOLD inserts blanks and certified reference standard in the sample sequence for quality

control.

About TomaGold Corporation

TomaGold Corporation is a Canadian -based mining exploration company whose primary mission is the

acquisition, exploration and development of gold projects in Canada and abroad.

Contact:

David Grondin

President and Chief Executive Officer

(514) 583-3490

www.tomagoldcorp.com

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. The statements 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 those described in such "forward-looking" statements.

Table 1

Notes:

1. Drill hole intercepts are calculated using a 0.50 g/t Au assay cut-off.

2. True widths of intersections are approximately 75-90% of the core interval.

3. Assays are reported uncut but high grade sub-intervals are highlighted.

Hole No. AZ DIP EOH from To Interval True Width

(2) Au (1) NOTE

Easting Northing Elevation (°) (°) (m) (m) (m) (m) (m) (g/t)  

ML-17-184 5488649 520146 371 288 -60 408 319,40 322,25 2,85 2,18 3,20 Lower Shear Zone

ML-17-186 5488702 520396 372 295 -53 684 409,05 409,54 0,49 0,42 3,71 Main Shear Zone

423,80 425,30 1,50 1,30 4,66

579,00 581,50 2,50 2,17 0,93 Lower Shear Zone

ML-17-187 5488011 520001 372 289 -50 429 No significant results

ML-17-188 5488058 520002 369 289 -50 399 253,50 254,00 0,50 0,43 1,76 Main Shear Zone

256,10 256,70 0,60 0,32 1,56

ML-17-189 5488928 520307 373 315 -55 336 264,20 265,10 0,90 0,87 3,08 Annie Shear Zone

ML-17-190 5489005 520343 373 315 -55 348 253,60 258,30 4,70 3,32 2,92 Main Shear Zone

Including (3) 253,60 254,50 0,90 0,64 7,25

283,30 291,00 7,70 4,42 5,21

Including (3) 283,80 286,00 2,20 1,26 15,99

308,60 311,60 3,00 1,93 9,82

Including (3) 309,60 310,60 1,00 0,64 25,10

344,10 345,00 0,90 0,64 36,90

ML-17-191 5488111 520137 370 290 -55 552 383,80 386,20 2,40 2,32 0,72 Main Shear Zone

509,90 512,45 2,55 1,80 85,27 Lower Shear Zone

ML-17-192 5488777 520278 373 300 -60 493,5 271,00 273,00 2,00 1,29 1,83 Main Shear Zone

274,60 277,60 3,00 1,93 0,98

ML-17-193 5488784 520331 372 305 -60 603,8 379,90 380,50 0,60 0,46 1,29 Main Shear Zone

575,90 577,00 1,10 0,84 1,47 Lower Shear Zone

ML-17-194 5488306 520134 371 293 -58 381 333,50 334,60 1,10 0,71 3,45 Main Shear Zone

339,00 343,85 4,85 3,12 121,67

Including (3) 340,40 342,10 1,70 1,09 316,89

ML-17-196 5488813 520417 372 300 -55 468 387,50 388,50 1,00 0,71 2,37 Main Shear Zone

417,80 418,70 0,90 0,64 1,14

UTM NAD83 Zone18

M onster Lake P roject Drilling Final Results - 2017 W inter Drilling P rogram