LOT TomaGold Corporation

TOMAGOLD CORPORATION (TSXV: LOT) (OTCQB: TOGOF) (“TomaGold” or the “Corporation”) is pleased to report the last results of its 11,500-metre drilling program on its wholly-owned Obalski property in Chibougamau, Quebec. In this latest phase, the Corporation drilled five holes for a total of 2,409 m.

Table 1: Best drilling results

Hole	Zone	Section	From(m)	To(m)	Length(m)*	Au(g/t)	Ag(g/t)	Cu(%)	Depth(m)
OBS-22-016	A-Po	300+00 E	258.35	283.50	25.15	0.31	0.58	0.06	200
OBS-22-017	C	300+00 E	193.20	194.00	0.80	3.83	8.30	0.42	165
	A-Po		297.95	314.90	16.95	0.33	0.09	0.03	260
	A-Po		343.90	353.25	9.35	6.07	3.29	0.08	295
Including			349.90	350.80	0.90	60.60	31.80	0.60
OBS-22-018	C	300+00 E	306.85	310.45	3.60	0.43	0.63	0.02	285
OBS-22-019	A-Po	175+00 E	374.70	427.00	52.30	1.83	0.73	0.04	350
Including			423.80	424.30	0.50	125.00	45.80	3.30

* True width is estimated at 65-70% of core length.

“This program was a true success as it allowed us to expand the mineralization at depth on Obalski with significant gold intersections, further demonstrating the mineral potential of our property,” said David Grondin, President and CEO of TomaGold. “The upcoming program slated for June will be even more exciting as we will continue to test the extensions of the mineralization, in addition to drilling anomalies detected to the west of the property following the results of the induced polarization survey.”

Table 2: Results of the 2021-22 drilling program on Obalski

Hole	Zone	Section	Length(m)*	Au(g/t)	Ag(g/t)	Cu(%)	Depth(m)
OBS-21-001	C	450+00 E	0.65	12.45	17.70	0.53	93
	A-Po		0.55	1.93	1.80	-	234
OBS-21-002	C	450+00 E	1.10	1.38	1.39	-	100
	A		0.50	67.10	40.10	2.32	205
	D		0.90	2.59	3.10	-	236
	A-Po		1.10	47.40	87.60	7.06	298
OBS-21-003	A-Po	450+00 E	11.95	0.51	1.84	0.12	276
Including			1.30	1.58	4.80	0.19
Including			1.10	1.20	4.20	0.53
	A-Po		0.50	6.35	1.90	-	376
	A-Po		7.10	0.26	2.13	-	419
OBS-21-004	A-Po	-	-	-	-	-	-
OBS-21-005	A-Po	120+00 E	4.05	3.01	3.35	-	200
OBS-21-005A	A-Po	120+00 E	49.25	0.21	0.19	0.04	374
OBS-21-006	A-Po	120+00 E	1.90	0.24	0.68	-	250
OBS-21-007	A-Po	120+00 E	20.75	0.43	0.29	-	385
OBS-21-008	A-Po	150+00 E	12.55	0.85	1.40	0.11	185
Including	A-Po		2.10	3.40	4.73	0.65
OBS-21-009	A-Po	150+00 E	28.50	1.41	0.81	-	200
Including	A-Po		1.50	6.84	1.50	-
Including	A-Po		4.50	4.03	2.87	-
OBS-21-010	A-Po	150+00 E	45.95	0.32	0.35	-	425
OBS-21-010A	A-Po	150+00 E	54.80	0.33	0.20	-	425
Including	A-Po		3.50	1.44	0.80	-
OBS-21-011	A-Po	200+00 E	0.50	1.60	2.60	-	210
OBS-21-012	A-Po	200+00 E	27.50	0.39	0.83	-	300
OBS-21-013	A-Po	200+00 E	1.40	0.76	2.10	0.14	450
OBS-21-014	A-Po	250+00 E	8.90	0.62	0.12	-	210
OBS-21-014A	A-Po	250+00 E	7.70	0.89	0.32	-	230
OBS-21-015	A-Po	250+00 E	3.20	23.78	16.55	1.00	330
Including	A-Po		0.45	167.50	112.00	6.08
OBS-21-015A	A-Po	250+00 E	10.50	5.06	3.27	-	360
Including	A-Po		0.65	71.00	31.40	-
OBS-22-016	A-Po	300+00 E	25.15	0.31	0.58	0.06	200
OBS-22-017	C	300+00 E	0.80	3.83	8.30	0.42	165
	A-Po		16.95	0.33	0.09	0.03	260
	A-Po		9.35	6.07	3.29	0.08	295
Including			0.90	60.60	31.80	0.60
OBS-22-018	C	300+00 E	3.60	0.43	0.63	0.02	285
OBS-22-019	A-Po	175+00 E	52.30	1.83	0.73	0.04	350
Including			0.50	125.00	45.80	3.30

* True width is estimated at 65-70% of core length.

Sample preparation and analysisTomaGold has implemented and is adhering to a strict Quality Assurance/Quality Control program for the current drilling program. The core is sawed in half, with one half kept as a witness sample in Chibougamau and the other half shipped directly by bus to ALS Chemex in Val-d’Or, Quebec. ALS grinds the half core to 1/8", split it into two halves and keeps one half as a witness (reject) in Val-d’Or. ALS pulverizes the other half to minus 150 mesh, takes a 50 g sample for analysis and keeps the rest, identified as “pulp”.

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 the Obalski propertyThe Obalski property covers 345 hectares about 2 km south of Chibougamau, Quebec. Discovered in 1928, the Obalski deposit 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 (Source: SIGEOM and Camchib Exploration internal reports).

About TomaGoldTomaGold Corporation (TSXV: LOT) is a Canadian mineral exploration corporation engaged in the acquisition, assessment, exploration and development of gold mineral properties. TomaGold has interests in five gold properties near the Chibougamau mining camp in northern Quebec: Obalski, Monster Lake East, Monster Lake West, Hazeur and Lac Doda. It also participates in a joint venture with Evolution Mining Ltd. and New Gold Inc., through which it holds a 24.5% interest in the Baird property, near the Red Lake mining camp in Ontario.

Contact:David Grondin President and Chief Executive Officer(514) 583-3490www.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 words 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.