TomaGold intersects 15.0 g/t Au, 46.8 g/t Ag and 10.4% Cu over 2 metres on its Obalski property

MONTREAL, QUEBEC--(Marketwired - March 16, 2017) - TOMAGOLD CORPORATION (TSX VENTURE:LOT) ("TomaGold" or the "Corporation") is pleased to announce initial results from its 1,700-metre drilling program on its 100%-owned Obalski property. The property covers 345 hectares, including a 33-hectare mineral concession, and lies about 2 km south of Chibougamau, Quebec. Further results are pending.

The current program consists of about 1,700 metres of drilling in 11 holes. The holes target an area where mineralized zones A and B meet and are in contact with the Lac Dor?(C) anorthosite complex, which has never been tested. Hole OB-17-02, drilled about 125 metres east of the old Zone A underground workings, intersected semi-massive sulphides grading 15.0 g/t Au, 46.8 g/t Ag and 10.4% Cu over 2.0 metres, including 21.3 g/t Au, 52.3 g/t Ag and 8.6% Cu over one metre, at a vertical depth of 95 metres.

"We are excited about these initial results on Obalski," said David Grondin, President and CEO of TomaGold. "According to the old Obalski mine plans and sections, we believe that Hole OB-17-02 could be the eastern extension of Zone A, which produced 90,000 tonnes at grades of 3.0 g/t Au, 6.2 g/t Ag and 1.52% Cu between 1964 and 1972. However, more drilling will be required to confirm this hypothesis. As mentioned previously, 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."

Based on observation of the sections available, the ratio of true thickness to core length is estimated at 65% to 70%.

The technical content of this press release has been reviewed and approved by Andr?(C) Jean, Eng., a qualified person as defined by National Instrument 43-101.

Sample Preparation and Analysis

TomaGold has implemented and adheres to a strict Quality Assurance/Quality Control for the present 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. The half core is then ground to 1/8" and split into two halves by ALS. One half is kept as a witness (reject) by ALS in Val-d'Or. ALS pulverizes the other half at 150 mesh and takes a 50 g sample for analysis. The rest is kept at ALS and identified as "pulp".

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.

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. The statements in this news release that are not historical facts are "forward-looking statements". Readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results may vary materially from those described in such "forward-looking" statements.