TomaGold meets all initial acquisition commitments of Chibougamau Mining Camp properties

TomaGold meets all initial acquisition commitments of Chibougamau Mining Camp properties

TomaGold Corporation (TSXV: LOT) (OTCQB: TOGOF) (" TomaGold " or the " Corporation ") is pleased to announce that it has met all its initial commitments regarding the previously-announced acquisition of 20 mining properties (press releases dated August 14 and September 13 ), forming the major portion of the Chibougamau Mining Camp, in Quebec, Canada.

LOT_Chibougamau-Claims-Map-(Aug-2023)

The Corporation has paid its initial commitments to SOQUEM Inc. (" SOQUEM "), Chibougamau Independent Mines Inc. (TSXV: CBG) (" CIM ") and Globex Mining Enterprises Inc. (TSX: GMX) (" Globex ") to acquire a total of 13 mining properties by making cash payments totalling $340,000 and issuing a total of 7,125,000 common shares of TomaGold as per the agreements.

Furthermore, the Corporation has paid CIM an additional cash amount of $200,000 for the 6-month exclusivity right to acquire the 7 remaining properties, which will allow the Corporation to finalize its due diligence on those properties.

"Having met our commitments for the year for the major portion of the properties being acquired, this will allow us to focus on compiling the data on those properties to prepare for the next phases of exploration work, as project operators," said David Grondin, President and CEO of TomaGold. "With these acquisitions, we have achieved a major step towards our goal of consolidating this promising and potentially mineral-rich mining camp."

From 1955 to 2008, the Chibougamau Mining Camp produced around 55 million tonnes of ore corresponding to 994,802 tonnes of copper, 120 tonnes of gold, 102 tonnes of silver and 72,066 tonnes of zinc (Source: Géologie de la région de Chibougamau, EspaceINRS, November 28, 2018).

The common shares issued in relation with the agreements are subject to a resale restriction period of four months and one day.

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 TomaGold
TomaGold Corporation (TSXV: LOT) (OTCQB: TOGOF) is a Canadian mineral exploration company engaged in the acquisition, assessment, exploration and development of gold, copper, rare earth elements and lithium projects. Its primary goal is to consolidate the Chibougamau Mining Camp in northern Quebec. In addition to the recent agreements to acquire 20 properties in the camp, the Corporation holds interests in five gold properties in the vicinity of the camp: Obalski, Monster Lake East, Monster Lake West, Hazeur and Doda Lake.

TomaGold also owns a 100% interest in a lithium property and in the Star Lake rare earth elements property, located in the James Bay region of Quebec, as well as a 24.5% interest in the Baird property, located near the Red Lake mining camp in Ontario through a joint venture with Evolution Mining Ltd. and New Gold Inc.

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

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d63e2cfd-9237-40e0-b164-d2637a7d532d


Primary Logo

News Provided by GlobeNewswire via QuoteMedia

LOT:CA
The Conversation (0)
TomaGold Extends East Block Acquisition Term

TomaGold Extends East Block Acquisition Term

TomaGold Corporation (TSXV: LOT) (OTCQB: TOGOF) (" TomaGold " or the " Corporation ") wishes to inform its shareholders that it has extended the "Option to Purchase" with Chibougamau Independent Mines Inc. (TSXV: CBG) (" Chibougamau ") by 45 days to allow completion of due diligence and secure financing to acquire Chibougamau's East Block copper-gold properties. The initial transaction was announced in the press releases dated August 14, 2023 September 13, 2023 and September 18, 2023 .

About TomaGold
TomaGold Corporation (TSXV: LOT) (OTCQB: TOGOF) is a Canadian mineral exploration company engaged in the acquisition, assessment, exploration and development of gold, copper, rare earth elements and lithium projects. Its primary goal is to consolidate the Chibougamau Mining Camp in northern Quebec. In addition to the recent agreements to acquire 20 properties in the camp, the Corporation holds interests in five gold properties in the vicinity of the camp: Obalski, Monster Lake East, Monster Lake West, Hazeur and Doda Lake.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
East Block Acquisition Term Extended

East Block Acquisition Term Extended

Chibougamau Independent Mines Inc. (CBG-TSXV in Canada, CLL1-Frankfurt, Stuttgart, Berlin and Lang & Schwarz Stock Exchanges in Germany, CMAUF-OTC in the US), herein called Chibougamau, wishes to inform shareholders that Chibougamau has extended the "Option to Purchase" accorded to TomaGold Corp. (LOT-TSXV) by 45 days to allow completion of due diligence and secure financing to acquire Chibougamau's East Block of advanced copper-gold properties. The initial transaction was announced in press releases dated August 14, 2023 and September 13 th 2023 .

This press release was written by Jack Stoch, P. Geo., President and CEO of Chibougamau Independent Mines Inc.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
TSX Venture Exchange Stock Maintenance Bulletins

TSX Venture Exchange Stock Maintenance Bulletins

TSX VENTURE COMPANIES

BULLETIN V2024-0267

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Canadian Investment Regulatory Organization Trade Resumption - LOT

Canadian Investment Regulatory Organization Trade Resumption - LOT

Trading resumes in:

Company: TomaGold Corporation

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
TomaGold Corporation Receives Approval for Option of Chibougamau Independent's West Block and LOI on East Block

TomaGold Corporation Receives Approval for Option of Chibougamau Independent's West Block and LOI on East Block

Chibougamau Independent Mines Inc. ( " Chibougamau ") (CBG-TSX-V in Canada, CLL1-Frankfurt, Stuttgart and Lang & Schwarz Stock Exchanges in Germany, CMAUF-OTC in the US) is pleased to announce that the Option Agreement announced on August 14, 2023 with TomaGold Corporation (" TomaGold ") (TSXV: LOT) (OTCQB: TOGOF) pursuant to which Chibougamau granted TomaGold an option to acquire the West Block, comprised of 99 claims in Barlow and McKenzie Townships, Québec, has been approved by regulators.

In order to exercise its option and acquire a 100% interest in the West Block, TomaGold must make cash payments to Chibougamau in an aggregate amount of $2,650,000 over a period of five years, including an initial payment of $300,000 on the effective date of the Option Agreement; issue 6 million shares to Chibougamau within five business days of the effective date of the Option Agreement; issue additional shares to Chibougamau on an annual basis for five years thereafter in an aggregate amount of $1,350,000, at an issue price per share equal to the volume weighted average trading price of TomaGold's shares at the respective dates of issuance; and incur expenditures on the West Block in an aggregate amount of $5,600,000 over a period of five years, including $600,000 in the first year. Any shares issued by TomaGold to Chibougamau under the Option Agreement will be subject to a four-month "hold period" under applicable securities regulations and the policies of the TSX Venture Exchange.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Eric Sprott Announces Changes to His Holdings in Freegold Ventures Limited

Eric Sprott Announces Changes to His Holdings in Freegold Ventures Limited

Eric Sprott announces that today, 2176423 Ontario Ltd., a corporation which is beneficially owned by him, purchased 770,000 common shares (Shares) of Freegold Ventures Limited., over the Toronto Stock Exchange (representing approximately 0.2% of the outstanding shares on non-diluted basis) at an average price of approximately $0.53 per share for aggregate consideration of approximately $408,100.

The acquired Shares were purchased in reliance on the normal course purchase exemption from the formal take-over bid requirements set out in Section 4.1 of National Instrument 62-104 - Take-Over Bids and Issuer Bids (NI 62-104). Such Shares do not represent more than 5% of the outstanding Shares, and the aggregate number of Shares acquired in reliance on this exemption with any joint actors within the last 12 months does not exceed 5% of the Shares outstanding at the beginning of the 12-month period. The Shares trade on the Toronto Stock Exchange and the value of the consideration paid for

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Silver North Announces Closing of Final Tranche of Private Placement

Silver North Announces Closing of Final Tranche of Private Placement

(TheNewswire)

Silver North Resources Ltd.

Vancouver, BC, July 18, 2024 TheNewswire Silver North Resources Ltd. (TSX-V: SNAG, OTCQB: TARSF) " Silver North " or the " Company ") is pleased to announce that it has closed the third and final tranche (the " Final Tranche ") of its non-brokered private placement (the " Offering ") for gross proceeds of $89,000. Further to the Company's news releases dated June 21, 2024 and June 28, 2024, the Company has raised aggregate gross proceeds of $827,380 in the Offering.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Canadian Investment Regulatory Organization Trade Resumption - RUA

Canadian Investment Regulatory Organization Trade Resumption - RUA

Trading resumes in:

Company: Rua Gold Inc.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
RUA GOLD Announces C$8 Million Brokered Offering of Common Shares

RUA GOLD Announces C$8 Million Brokered Offering of Common Shares

This news release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or dissemination in the United States .

Rua Gold Inc. (CSE: RUA) (OTCQB: NZAUF) (WKN: A4010V) (" Rua Gold " or the " Company ") is pleased to announce that it has entered into an agreement with Cormark Securities Inc., as lead agent and on behalf of a syndicate of agents to be formed (collectively, the " Agents "), pursuant to which the Agents have agreed to act as agents on a "best efforts" basis, in connection with the public offering of 44,445,000 common shares in the capital of the Company (each, a " Common Share ") at a price of C$0.18 per Common Share (the " Offering Price ") for aggregate gross proceeds of C$8,000,100 (the " Offering "). The Offering is expected to close on or about July 25, 2024 (the " Closing Date "), or such other date as agreed upon between the Company and the Agents, and is subject to certain conditions including, but not limited to the receipt of all necessary regulatory approvals.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Clarification: Historical Mineral Resource Estimate at Reefton

Clarification: Historical Mineral Resource Estimate at Reefton

Rua Gold Inc. (CSE: RUA) (OTC: NZAUF) (WKN: A4010V) (" Rua Gold " or the " Company ") provides a clarification in relation to its news release of July 15, 2024 (" Rua Gold to acquire Siren Gold's Reefton assets and become the dominant Reefton Goldfield explorer ").

Previously, the Company disclosed that "the tenements owned by [Reefton Resources Pty Limited] hosts a total JORC-compliant inferred mineral resource estimate (at a 1.5 g/t Au cut-off grade) containing 444koz Au @ 3.81g/t Au and 8.7kt Sb @ 1.5% Sb". The Company wishes to clarify that the tenements presently owned by Reefton Resources Pty Limited ("Reefton Resources") do not contain a current mineral resource estimate. The Company intended to disclose the aforementioned "inferred mineral resource estimate" as a "historical estimate" within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). As a result, the Company also wishes to provide additional information and cautionary language required by NI 43-101.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
RUA GOLD to acquire Siren Gold's Reefton assets and become the dominant Reefton Goldfield explorer

RUA GOLD to acquire Siren Gold's Reefton assets and become the dominant Reefton Goldfield explorer

Rua Gold Inc. (CSE: RUA) (OTC: NZAUF) (WKN: A4010V) (" Rua Gold " or the " Company ") is pleased to announce it has entered into a definitive share purchase agreement (the " Agreement "), pursuant to which the Company will acquire 100% of the issued and outstanding shares of Reefton Resources Pty Limited (" Reefton "), a 100% owned subsidiary of Siren Gold Ltd. (ASX:SNG) (" Siren ") with tenements located adjacent to the Company's suite of properties in New Zealand's prolific Reefton Goldfield (the " Transaction ").

The Transaction will establish the Company as the dominant landholder in the Reefton Goldfield on New Zealand's South Island, with approximately 120,000 hectares (" ha ") of tenements. The district produced over two million ounces at gold grades ranging from 9 to 50g/t. The Reefton Goldfield is seeing a resurgence in interest, led by the construction of Federation Mining's Blackwater mine, which is expected to produce 70koz per annum at US$738 /oz AISC 1 .

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×