TomaGold takes strategic position in the lithium sector with the acquisition of 107 claims near the Lithium Brisk project
NEWS RELEASE
TSXV: LOT
TomaGold takes strategic position in the lithium sector with the
acquisition of 107 claims near the Lithium Brisk project
Montreal, Quebec, September 21, 2022 ‒ TOMAGOLD CORPORATION (TSXV: LOT) (OTCQB: TOGOF)
(“TomaGold” or the “Corporation”) is pleased to announce the acquisition of a 100% interest in 38 claims
from Noranda Royalties and the acquisition of 69 map-designated claims covering a total area of 5,487.52
ha (or 55 km2). These claims are located near Zones 1, 2, 3 and 6 of the James Bay Lithium Brisk project
optioned by Monger Gold and along and south of the Trans -Taiga regional road and power line
infrastructure, approximately 5 km from the LG-3 airport. These claims are also located on the same
geological corridor as the Cancet (5.6% Li2O over 36.5 m) and Corvette (1.65% Li2O over 159.7 m) projects,
held by Winsome Resources and Patriot Battery Metals respectively, further east.
The project was identified for its prospective nature of lithium mineralization in pegmatite dykes during
the compilation of geological data by Noranda Royalties. The project hosts several known pegmatite dyke
outcrops. Historically, there has been no lithium exploration activity on the project, with the exception of
a historical spodumene-bearing pegmatite showing that was identified by the Quebec Ministry of Energy
and Natural Resources on June 17, 2015. In addition to the acquisition of the project from Norand a
Royalties, the Corporation has also increased the size of its lithium property with the addition of map -
designated claims, allowing it to be even better positioned in an area where exploration activity has been
sustained for several months. The Corporation will soon begin a sampling and prospecting program on its
entire property.
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The acquisition terms for the Noranda Royalties claims are the following:
• Payment of $60,000 in cash by TomaGold, including:
o $10,000 on the closing of the transaction;
o $20,000 on the 6th month anniversary of the closing; and
o $30,000 on the 12th month anniversary of the closing.
• Issuance of 1,000,000 common shares of TomaGold at closing.
• Noranda Royalties will receive a 2% net smelter return (NSR) royalty, of which 1% can be purchased
by TomaGold for $1,000,000 in cash.
The transaction with Noranda Royalties is subject to regulatory approval.
EXPLORATION WORK ON THE OBALSKI PROPERTY, CHIBOUGAMAU
The 2,947-metre drilling program on Obalski has been completed and all samples have been sent to the
ALS Global laboratory for analysis. A total of six holes were drilled in the new zone to the south that was
identified by the 3D induced polarization (IP) survey conducted this winter. The Corporation will soon carry
out new IP geophysical surveys in these last six holes and in old holes deemed relevant in the same area.
The technical content of this press release has been reviewed and approved by André Jean, P.Eng., the
Corporation’s Director of Exploration and a qualified person under National Instrument 43-101.
About TomaGold
TomaGold Corporation (TSXV: LOT) (OTCQB: TOGOF) is a Canadian mineral exploration company engaged
in the acquisition, assessment, exploration and development of gold, lithium and rare earth element
projects. TomaGold holds interests in five gold properties near the Chibougamau mining camp in northern
Quebec: Obalski, Monster Lake East, Monster Lake West, Hazeur and Doda Lake, as well as a 24.5% interest
through a joint venture with Evolution Mining Ltd. and New Gold Inc. in the Baird property, located near
the Red Lake mining camp in Ontario. In addition, it has a 100% interest in a lithium property in the James
Bay region of Quebec.
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. Some of the statements
contained in this press release are forward-looking statements within the meaning of applicable securities laws. Forward-
looking statements can be identified by the use of word s such as “expects”, “intends”, “is expected”, “potential”,
“suggests” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”,
“should”, “might” or “will” be taken, occur or be achieved. Forward-looking statements are not historical facts and are
subject to a number of risks and uncertainties beyond the Corporation’s control. Readers are cautioned that such
statements are not guarantees of future performance and that actual results and developments are likely to differ, and
may differ materially, from those expressed or implied by the forward-looking statements contained in this press release.
Accordingly, readers should not place undue reliance on forward-looking statements. The Corporation undertakes no
obligation to publicly update or revise any forward-looking statements, except as required by law.