TomaGold starts drilling on its Obalski property The program started this week and will consist of about 1,700 metres of drilling

PRESS RELEASE

TSXV: LOT

TomaGold starts drilling on its Obalski property

The  program  started  this  week  and  will  consist  of  about  1,700  metres  of  drilling  

Montreal,   Quebec,   January  23rd  2017  -­‐  TOMAGOLD   CORPORATION  (TSXV:  LOT)  (“TomaGold”   or   the  

“Corporation”)  is  pleased  to  announce  that  it  has  started  drilling  on  its  Obalski  property.  The  property,  

which  covers   345   hectares,   including   a   33-­‐hectare   mineral   concession,   lies   about   2  km   south   of  

Chibougamau,   Quebec.   The   Obalski   mine,  discovered   in   1928,  produced  100,273   tonnes  at   grades   of  

1.14%  Cu,  2.08  g/t  Au  and  6.04  g/t  Ag  from  the  A  zone  between  1964  to  1972,  and  around  9,000  tonnes  

at  a  reported  grade  of  8.5  g/t  Au  from  the  D  zone  in  1984.  Furthermore,  the  gold  mineralization  showed  a  

strong  nugget  effect.    

The  current  program  consists  of  about  1,700  metres  of  drilling  in  nine  holes.  The  holes  will  target  an  area  

where  mineralized  zones  A  and  B  meet  and  are  in  contact  with  the  Lac  Doré  anorthosite  complex.    

“As  we  mentioned  last  November,  TomaGold's  objective  for  2017  is  to  develop  its  properties,”  said  David  

Grondin,   President   and   CEO   of   TomaGold.   “We   announced   the   start   of   drilling   on   Monster   Lake   last  

week,   and  this   week  we   will   start   drilling   on   Obalski.  This  initial  program  on   the   Obalski   property  will  

consist  of  drilling  on  targets  we  have  identified  as  priorities  based  on  the  data  we  have  compiled  since  

acquiring  the   property.   These   targets   have  never  been   tested.  We   are   also   aiming   to  assess  the  

property’s  gold  potential  at  depth,  because  although  over  60,000  metres  of  drilling  has  been  done  on  the  

property  in  the  past,  most  of  it  was  in  shallow  holes.”    

The  most  recent  drilling  was  done  in  2012,  and  consisted  of  six  short  holes  drilled  on  Zone  C.  The  results  

were  as  follows:  

Hole   From   To     Length   Au   Ag   Cu   Zn  

DM-­‐12-­‐01   37.0  m   37.8  m   0.8  m   9.72  g/t   19.50  g/t   0.82%   0.44%  

DM-­‐12-­‐02   33.6  m   34.2  m   0.6  m   1.81  g/t   5.40  g/t   0.16%   0.03%  

DM-­‐12-­‐03   45.5  m   47.4  m   1.9  m   trace  values  

DM-­‐12-­‐04   35.0  m   37.8  m   2.8  m   27.81  g/t   23.74  g/t   1.15%   0.24%  

DM-­‐12-­‐05   45.0  m   46.7  m   1.7  m   12.30  g/t   16.95  g/t   0.83%   0.03%  

DM-­‐12-­‐06   42.1  m   43.0  m   0.9  m   2.66  g/t   15.00  g/t   2.00%   0.54%  

Based  on  observation  of  the  sections  available,  the  ratio  of  true  thickness  to  core  length  is  estimated  at  

about  70%.  

The   technical   content   of  this   press   release   has   been   reviewed   and   approved   by   André   Jean,   Eng.,   a  

qualified  person  as  defined  by  National  Instrument  43-­‐101.  

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  

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