TomaGold continues to show strong results at Obalski with 23.7 g/t Au and 24.5 g/t Ag over 0.5 metres

• Corporation reports results from last four holes of a seven-hole, 2,502-metre program
  
  
• Best results include:
  
  
  • Hole OBS-21-005: 23.7 g/t Au and 24.5 g/t Ag over 0.5 metres
    
    
  • Hole OBS-21-007: 23.6 g/t Au and 2.9 g/t Ag over 0.5 metres
    
    
  • Hole OBS-21-007: 0.46 g/t Au and 0.32 g/t Ag over 18.75 metres
    
    
• 10,000-metre follow-up drilling program to start in April

MONTREAL, March 25, 2021 (GLOBE NEWSWIRE) -- TOMAGOLD CORPORATION (TSXV: LOT) (“TomaGold” or the “Corporation”) is pleased to report the results for the last four holes 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 and, as expected, did not return any significant values. 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 had already been mined underground and been the subject of minor surface work.

The results for the three holes drilled on section 450 E were disclosed previously (see press release dated March 10, 2021). The following table shows the gold, silver and copper results for the three holes drilled on section 120 E:

HOLE	ZONE	Au (g/t)	Ag (g/t)	Cu (%)	Core length* (m)	Depth (m)
OBS-20-005	A-Po N	3.43	3.78	NSV	3.55	190
Including	A-Po N	23.7	24.5	NSV	0.50	190
OBS-20-006	A-Po N	0.24	0.68	NSV	1.90	260
OBS-20-007	A-Po S	4.81	0.58	NSV	2.50	365
Including	A-Po S	23.6	2.9	NSV	0.50	365
OBS-20-007	A-Po N	0.46	0.32	NSV	18.74	380

^{NSV: non-significant value}