TomaGold intersects 47.4 g/t Au, 87.6 g/t Ag and 7.06% Cu over 1.1 metres on Obalski

• Corporation reports results from first three holes out of a seven-hole, 2,502-metre program
  
  
• Best results include:
  
  
  • Hole OBS-20-002: 47.4 g/t Au, 87.6 g/t Ag and 7.06% Cu over 1.1 metres, and 67.1 g/t Au, 40.1 g/t Ag and 2.32% Cu over 0.5 metres
    
  • Hole OBS-20-001: 12.45 g/t Au, 17.7 g/t Ag and 0.53% Cu over 0.65 metres
    
• Strong results warrant follow-up 10,000-metre drilling program, to start in the Spring
  

MONTREAL, March 10, 2021 (GLOBE NEWSWIRE) -- TOMAGOLD CORPORATION (TSXV: LOT) (“TomaGold” or the “Corporation”) is pleased to report the initial results of its 2,502-metre drilling program on its wholly-owned Obalski property, in Chibougamau, Quebec.

Drilling began in December 2020 and ended on February 18, 2021. The program consisted of seven holes, six of which were drilled on two separate sections (450 E and 120 E), while the seventh hole was designed to test the rock type at the eastern property boundary. The goal of the program was to better define the A-Po Zone on sections 450 E and 120 E, located 330 metres apart, with very little exploration work in between. Drilling was also aimed at intersecting the A, C and D zones, some of which have already been mined underground and the subject of minor surface work.

The following table shows the gold, silver and copper results for the first three holes, on section 450 E:

HOLE	ZONE	Au (g/t)	Ag (g/t)	Cu (%)	Core length* (m)	Depth (m)
OBS-20-001	C	12.45	17.7	0.53	0.65	93
OBS-20-001	A-Po N	1.93	1.8	NSV	0.55	234
OBS-20-002	C	1.38	1.39	NSV	1.10	100
OBS-20-002	A	67.1	40.1	2.32	0.50	205
OBS-20-002	D	2.59	3.1	NSV	0.90	236
OBS-20-002	A-Po N	47.4	87.6	7.06	1.10	298
OBS-20-003	A-Po S	0.51	1.84	0.12	11.95	276
Including	A-Po S	1.58	4.8	0.19	1.30	276
Including	A-Po S	1.2	4.2	0.53	1.10	276
OBS-20-003	A-Po N	6.35	1.9	NSV	0.50	376
OBS-20-003	A-Po N	0.26	2.13	NSV	7.10	419

^{NSV: non-significant value}