Company Announcements

Survey also validates significant mineralization and unlocks new targets 

Highlights

• Direct correlation with mineralization: The modeled geophysical plates explain the presence of semi-massive to massive sulfides intersected in holes TOM-25-009 to TOM-25-015.
• Priority target BER-14C: Identification of a major 160 x 300 m plate, open at depth and to the northeast, suggesting the presence of a significant massive sulfide lens near drill hole TOM-25-014.
• Confirmation of Berrigan Deep: The TOM-25-015 drill hole perfectly intersects the southeast extension of the BER-14C plate, validating the continuity of the mineralized system at a depth of over 450 metres.

MONTREAL--(BUSINESS WIRE)--Feb. 5, 2026-- TOMAGOLD CORPORATION (TSXV: LOT; OTCPK: TOGOF) (“TomaGold” or the “Company”) is pleased to announce the interpretation results of the borehole electromagnetic (BHEM) survey completed on its Berrigan Mine project, located in the Chibougamau mining camp.

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Figure 1: TomaGold’s borehole EM survey confirms Berrigan Deep Zone

The survey, conducted by Abitibi Geophysics, modeled ten conductive plates of varying orientation and size that not only corroborate the high-grade intersections already announced, but also indicate significant extension potential, particularly with the discovery of the Berrigan Deep zone.

David Grondin, President and CEO of TomaGold, stated: “The geophysics confirm what our drill cores indicated: Berrigan Mine sits on a large-scale mineralized system. The BER-14C plate, in particular, extends the mineralization signature of holes TOM-25-014 and TOM-25-015 with a vector pointing to an even more conductive zone to the northeast.”

Technical analysis of the plates

The survey uses Terrascope PRO5U transmitters (up to 15 kW) powered by a Wildcat generator to transmit a bipolar signal in a 530 x 560 m surface loop with a current of 30 A. The borehole measurements are taken at frequencies of 5 Hz and 1 Hz using a GPS-synchronized DigiAtlantis triaxial probe, which captures the components of the magnetic field. Finally, the data is processed and modeled using specialized Maxwell and Oasis Montaj software, with the conductive plates shown in green in Figure 1.

Table 1: Comparative analyses Drilling/BHEM

Source: Rapport technique d'Abitibi Géophysique (25QC084-BT TomaGold, Berrigan, BHEM, 2026)

Note: TomaGold has reverted to reporting elemental assay results rather than metal equivalent grades. The mineralization style encountered at Berrigan Mine differs from typical sulphide deposits in the surrounding area, including Scott Lake, Lemoine and Mattagami, as well as outside the immediate region such as Normétal, Rouyn-Noranda and Timmins. As a result, metallurgical recovery assumptions remain uncertain at this stage and cannot currently support the use of metal equivalent calculations.

Next Steps

TomaGold plans to:

1. Drill three new holes (TOM-26-016 to TOM-26-018) to test the northeast and depth extensions of the BER-14C conductive plate.
2. Conduct additional follow-up drilling to extend holes TOM-25-010, 011, and 013 with the goal of reaching modeled targets, and drill a corner hole from hole TOM-25-015.
3. Conduct a low-frequency surface electromagnetic (EM) survey to better define the thickness, continuity, and lateral extent of the mineralized system.

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 1.39 Mt 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.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20260205830419/en/

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

Source: TomaGold Corporation