Company Announcements

Highlights

• Drill hole TOM-25-015 (from 451.20 m): 5.75% ZnEq (1.34 g/t AuEq) over 98.5 m
  • Including: 26.67% ZnEq (6.26 g/t AuEq) over 4.90 m
  • Including: 7.26% ZnEq (1.69 g/t AuEq) over 49.35 m
  • Including: 10.26% ZnEq (2.39 g/t AuEq) over 14.60 m, 9.94% ZnEq (2.31 g/t AuEq) over 3.25 m, and 14.82% ZnEq (3.45 g/t AuEq) over 6.20 m
• Drill hole TOM-25-015 confirms the discovery of a new major semi-massive sulfide zone, named Berrigan Deep, which remains open at depth
• Drill hole TOM-25-014 (from 185 m): 28.69% ZnEq (6.73 g/t AuEq) over 2.10 m
• Results pending for the last three drill holes (TOM-25-011 to TOM-25-013) and for the borehole geophysical electromagnetic (EM) survey

MONTREAL--(BUSINESS WIRE)--Jan. 29, 2026-- TOMAGOLD CORPORATION (TSXV: LOT; OTCPK: TOGOF) (“TomaGold” or the “Company”) is pleased to announce the assay results from drill holes TOM-25-014 and TOM-25-015 on its Berrigan Mine project, located in the Chibougamau mining camp. Hole TOM-25-015 intersected significant semi-massive mineralization at depth, opening up a new extension zone named Berrigan Deep.

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Figure 1: Drill hole TOM-25-015, a major discovery at depth

David Grondin, CEO of TomaGold, commented: “Drill hole TOM-25-015, grading 5.75% ZnEq (1.34 g/t AuEq) over 98.5 m, is truly transforming the Berrigan Mine project and highlights a new semi-massive sulfide zone that extends at depth beneath the known zones. This very encouraging result suggests the presence of a large mineralized system that remains open at depth.”

Jean Lafleur, P.Geo., VP Exploration at TomaGold, added: “The concept of a new deep mineralized zone is not new in Abitibi, where mineralization has been documented at depths of over 1,000 to 2,000 metres. The Cadillac camp is the best example of this along the Larder Lake–Cadillac fault, with the Doyon, Bousquet 1 and 2, and LaRonde series of deposits extending from the surface to depths of over 3 km. However, this approach remains new for the Chibougamau mining camp. The 2D and 3D modeling currently underway will enable TomaGold to target the -250 to -500 metre interval in the northern portion of the camp, particularly in the Berrigan sector. Surface and borehole electromagnetic surveys will provide 3D vectors to better define the distribution of sulphide-rich mineralization. We believe that this second zone, called “Berrigan Deep”, could be linked to historical intersections located up to 1 km east of the main Berrigan Mine zone, near more felsic lithologies, such as tuffs and porphyries. Field work, geophysical surveys, and drilling planned for 2026 will be critical in assessing its extension in all directions.”

TomaGold will launch a new drilling program at Berrigan Mine as soon as it receives the results of the last three drill holes (TOM-25-011, 012, and 013) and the borehole geophysical electromagnetic (EM) survey, which are expected in early February. This program will focus primarily on following up and extending this exciting discovery.

Drill Hole TOM-25-015: A Major Discovery at Depth

Drill hole TOM-25-015 was drilled at a steeper angle to test the root of the Berrigan mineralized system. It revealed a wide, high-grade zone of mineralization at a depth of over 450 metres within a serpentinized peridotite unit.

• Mineralogy and textures: The Berrigan Deep zone (from 451.20 to 549.70 m) is characterized by a high proportion of semi-massive to massive sulfides in centimetric and metric horizons or veins. The intervals are particularly rich in sphalerite and pyrrhotite, with chalcopyrite and galena, and minor amounts of arsenopyrite and possibly scheelite (inferred from the tungsten content). These sulfides also occur as coarse clusters and breccia fillings.
• Structural control: Mineralization is closely associated with a zone of shearing and fracturing. Alteration is marked by a strong presence of talc, chlorite, and dolomite, suggesting prolonged hydrothermal circulation.
• Extension potential: The presence of another mineralized interval lower in the hole (between 583.75 and 586.70 m), characterized by a contact breccia and fault mud, indicates that the hydrothermal system remains open and active at depth.

Drill Hole TOM-25-014: Extension of the Vein System

Drill hole TOM-25-014 further defined the mineralized vein system, which extends westward at various depths.

• Vein network: Technical descriptions identify two distinct events:

1. A network of quartz-carbonate veins with coarse magnetite margins, indicating a high-temperature phase.
2. A network of undulating sheared veins, much richer in sulfides (sphalerite, pyrrhotite, galena, and traces of chalcopyrite).

• Key intersections: The interval between 185.00 and 187.10 m (2.10 m at 28.69% ZnEq) is located at a brecciated lithological interface. Mineralization here is of the “stringer” and cluster type.
• Lithological context: The hole intersected alternating serpentinized peridotite and pyroxenite (tremolite), the latter often acting as barriers or conduits for mineralizing fluids. Pyroxenites and gabbros were preferentially altered.

Table 1: Results from drill holes TOM-025-14 and TOM-025-15 on the Berrigan Mine project

Notes:

• The reported widths represent core lengths. True width is estimated to be approximately 80-85% of the core length, depending on the deviation angles.
• ZnEq and AuEq are calculated using the Company’s standard parameters.
• AuEq calculation was based on US$4150/oz Au, $51.36/oz Ag, US$5.044/lb Cu and $1.398/lb Zn. AuEq = Au g/t + (Ag g/t × 0.01237) + (Cu ppm × 0.000083) + (Zn ppm × 0.000023). The use of AuEq is to calculate cut-off grades for exploration purposes, and no adjustments were made for metal recovery. The Company is currently in the initial exploration phase, following historical drilling. At this stage, the Company does not have any metallurgical data and no comparative studies have been conducted, given the geological complexity of the ultramafic host rock. Furthermore, the Company is not aware of any deposits that may have similar geological characteristics.
• ZnEq calculation was based on US$4047/oz Au, $50.22/oz Ag, US$4.796/lb Cu and $1.390/lb Zn. ZnEq = Zn ppm + (Ag g/t × 527) + (Au g/t x 42466) + (Cu ppm × 3.45) / 10,000. The use of ZnEq is to calculate cut-off grades for exploration purposes, and no adjustments were made for metal recovery. The Company is currently in the initial exploration phase, following historical drilling. At this stage, the Company does not have any metallurgical data and no comparative studies have been conducted, given the geological complexity of the ultramafic host rock. Furthermore, the Company is not aware of any deposits that may have similar geological characteristics.

Table 2: Berrigan Mine Drill Hole Collars

Webcast – Drilling Results from the Berrigan Mine Project

The Company will host a webcast today, Thursday, January 29, 2026, at 4:00 pm (ET), to discuss the latest drilling results at the Berrigan Mine Project. David Grondin, President and CEO of TomaGold, will present the results, followed by a question and answer period.

To participate, please register here:
https://us06web.zoom.us/webinar/register/WN_K_sV7CsqQ4Wx84csAfFGkg

About the Berrigan Mine Project
The Berrigan Mine property consists of 16 claims totalling 483 hectares located 4 km north-northwest of the town of Chibougamau. TomaGold has an option to acquire 100% of the property from Chibougamau Independent Mines Inc.

The property has been the subject of more than one historical estimate. Met-Chem Canada Inc. prepared the most recent of these in April 2001 in a report titled: “Pre-feasibility study: Etude Conceptuelle, Projects Berrigan and Tortigny” by Chuinard et al. In the report, a resource estimate completed using polygonal estimation techniques stated 1,388,915 tonnes of material grading 3.17% Zn and 1.77 g/t Au on the main Berrigan Mine zone. No resource classifications were given for the resource (GM61359).

The mineral resource estimate presented above is historical in nature and was not prepared in accordance with National Instrument 43-101 standards. Accordingly, the reader is cautioned not to rely on this estimate, as the Company is not treating the estimate as a current mineral resource. The qualified person has not done sufficient work to make the resource current. Substantial data compilation, verification, and, potentially, additional drilling and resampling would be required by a qualified person before the historical estimate could be classified as a current mineral resource. There can be no assurance that any portion of the historical mineral resource will ultimately be confirmed or demonstrated to be economically viable. For further information regarding the Berrigan Mine Project, please consult the press release dated September 13, 2023.

Technical Disclosure
The drilling program was managed by Explo-Logik of Val-d’Or, Québec. Drill core was split in half, with one half submitted to AGAT Laboratories at Val-d’Or for analysis. Gold was analyzed by fire assay (50 g) with atomic absorption finish, while base metals were analyzed by four-acid digestion with ICP-OES finish. Samples with gold grades greater than 10 g/t are reprocessed using metallic screening with a 106 µm cutoff. The processed material is split and analyzed by fire assay with ICP-OES finish to extinction. A separate split is prepared to independently analyze mineralized intervals with a target grade greater than 1.00% Cu-Zn using a Na₂O₂ fusion with ICP-OES or ICP-MS finish. Sample preparation duplicates, certified reference standards, and blanks are inserted into the sample stream.

The technical content of this press release has been reviewed and approved by Jean Lafleur, P.Geo., Vice President of Exploration of the Company, and Suzie Tremblay, P.Geo., Vice President of Operations at Explo-Logik Inc. and a consultant to TomaGold, each acting as a Qualified Person under National Instrument 43-101.

About TomaGold
TomaGold Corp. (TSXV: LOT, OTCPK: TOGOF) is a Canadian junior mining company focused on the acquisition, exploration, and development of high-potential precious and base metal projects, with a primary focus on gold and copper in Québec and Ontario. The Company’s core assets are located in the Chibougamau Mining Camp in northern Québec, where it owns the Obalski gold-copper-silver project and holds options to acquire 12 additional properties, including the Berrigan Mine, Radar, David, and Dufault projects. TomaGold also holds a 24.5% joint venture interest in the Baird gold property near the Red Lake Mining Camp in Ontario. In addition, the Company has lithium and rare earth element (REE) projects in the James Bay region, strategically positioned near significant recent discoveries.

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Cautionary Statement on Forward-Looking Information
This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include the potential results of exploration and drilling activities, market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates, opinions, or other factors should change.

Neither TSX Venture Exchange nor its Regulations 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260129881455/en/

David Grondin
President and Chief Executive Officer
(514) 583-3490
www.tomagoldcorp.com

Source: TomaGold Corporation