TomaGold Commences Audio-Frequency Magnetotelluric (AMT) Survey at its Berrigan Mine Project

MONTRÉAL--(BUSINESS WIRE)--Jun 23, 2026--

TOMAGOLD CORPORATION (TSXV: LOT; OTCPK: TOGOF) (“ TomaGold ” or the “ Company ”) is pleased to announce the commencement of an audio-frequency magnetotelluric (“ AMT ”) geophysical survey at its Berrigan Mine project, located in the Chibougamau Mining Camp of Québec. Conducted by Géophysique TMC, this AMT survey represents the next phase of TomaGold’s systematic exploration strategy and follows the completion of the Phase 2 extension drilling program, for which assay results from all five drill holes remain pending, as well as the launch of the major prospecting and geophysical campaign announced on May 28, 2026.

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The Berrigan system is characterized by high-grade polymetallic (zinc-gold-copper-silver) mineralization hosted in conductive structures along major shear zones. Building on prior borehole EM results and recent drilling successes, including significant intersections in the Berrigan Deep zone, the AMT survey is expected to deliver a district-scale 3D understanding of the structural architecture controlling mineralization across the project area. The survey is expected to identify new conductive corridors, potential extensions of known mineralization, and additional concealed massive sulphide targets at depth (up to approximately 2 km). These insights will help refine exploration models and optimize future drill targeting across TomaGold's consolidated Chibougamau property portfolio.

Audio-frequency magnetotellurics is a passive geophysical technique that records natural variations in the Earth's electric and magnetic fields across audio frequencies. It excels at imaging resistivity contrasts in the subsurface at depths ranging from tens of metres to several kilometres, making it particularly well suited for delineating deep structural features and conductive bodies associated with polymetallic mineralization. The current AMT survey consists of a grid of 14 lines of variable length, with measurement stations positioned every 25 metres along the lines, for a total coverage of 7.5 line-kilometres. The contractor is responsible for line cutting and precise chaining at 25-metre intervals. This configuration is expected to provide high-resolution data to map deep resistivity contrasts beneath the Berrigan Mine and surrounding areas (see Figure 1).

David Grondin, President and CEO of TomaGold, stated: "We are excited to commence this AMT survey, which represents a significant step forward in our systematic exploration strategy at Berrigan. The survey is expected to provide a clearer understanding of the structural architecture controlling mineralization at depth, while helping to identify new conductive corridors, potential extensions of known mineralization and additional high-priority exploration targets. Together with our ongoing drilling and geophysical programs, the results will help unlock the broader potential of our Chibougamau assets and guide the next phase of value-creating exploration activities.”

Progress Report from TomaGold's Affiliated Company

Carbon2Green Developments Inc., a private company in which TomaGold holds a 35% interest, together with AM Resources Corp. (35%) and certain TomaGold directors and members of management (30%), has recently begun establishing a portfolio of mining rights covering several peatland areas in Québec. The Company is currently evaluating these assets as part of an initiative aimed at determining their economic potential with a view to carbon credit monetization through the development of projects focused on the conservation, restoration and environmental enhancement of peatlands. Over the coming weeks, Carbon2Green intends to complete its preliminary evaluations and continue its discussions with various stakeholders, investors, communities, interest groups and government representatives in order to gather relevant information regarding the regulatory framework applicable to these assets and the optimization of their value, which is considered to have significant potential.

About the Berrigan Mine Project
The Berrigan Mine property consists of 16 claims totalling 483 hectares located 4 km north-northwest of the town of Chibougamau. TomaGold has an option to acquire 100% of the property from Chibougamau Independent Mines Inc.

The property has been the subject of more than one historical estimate. Met-Chem Canada Inc. prepared the most recent of these in April 2001 in a report titled: “Pre-feasibility study: Etude Conceptuelle, Projects Berrigan and Tortigny” by Chuinard et al. In the report, a resource estimate completed using polygonal estimation techniques stated 1.39 Mt grading 3.17% Zn and 1.77 g/t Au on the main Berrigan Mine zone. No resource classifications were given for the resource (GM61359).

The mineral resource estimate presented above is historical in nature and was not prepared in accordance with National Instrument 43-101 standards. Accordingly, the reader is cautioned not to rely on this estimate, as the Company is not treating the estimate as a current mineral resource. The qualified person has not done sufficient work to make the resource current. Substantial data compilation, verification, and, potentially, additional drilling and resampling would be required by a qualified person before the historical estimate could be classified as a current mineral resource. There can be no assurance that any portion of the historical mineral resource will ultimately be confirmed or demonstrated to be economically viable. For further information regarding the Berrigan Mine Project, please consult the press release dated September 13, 2023.

Technical Disclosure
The technical content of this press release has been reviewed and approved by Jean Lafleur, P.Geo., Vice President of Exploration of the Company, and Suzie Tremblay, P.Geo., Vice President of Operations at Explo-Logik Inc. and a consultant to TomaGold, each acting as a Qualified Person under National Instrument 43-101.

About TomaGold
TomaGold Corp. (TSXV: LOT, OTCPK: TOGOF) is a Canadian junior mining company focused on the acquisition, exploration, and development of high-potential precious and base metal projects, with a primary focus on gold and copper in Québec and Ontario. The Company’s core assets are located in the Chibougamau Mining Camp in northern Québec, where it owns the Obalski gold-copper-silver project and holds options to acquire 12 additional properties, including the Berrigan Mine, Brosnan, Radar and Dufault projects. TomaGold also holds a 24.5% joint venture interest in the Baird gold property near the Red Lake Mining Camp in Ontario. In addition, the Company has lithium and rare earth element (REE) projects in the James Bay region, strategically positioned near significant recent discoveries.

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Cautionary Statement on Forward-Looking Information
This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include the potential results of exploration and drilling activities, market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates, opinions, or other factors should change.

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Figure 1: AMT survey on the Berrigan Mine Project

PARIS (AP) — Millions of people across Europe were exposed to extreme and exceptional high temperatures on Tuesday, with 40 fatalities from drowning recorded in France in the past week as residents seek relief from the searing heat.

Temperatures will remain high around the clock in France, the European nation the most affected so far by the early summer heat wave. The national weather service, Meteo France, placed 54 departments, about half the country, under a red heat wave alert.

Italy, Spain, and Britain were also hit.

Human-caused climate change is tied to increasingly extreme weather, and U.N. climate agency projections say the next five years should shatter more heat records.

French Prime Minister Sébastien Lecornu said that the 40 people who died by drowning since last Thursday were mainly young people.

In a country without widespread air conditioning, schools, public transportation and sporting events have been impacted. Extreme conditions are expected to last at least until the end of the week, with daytime highs above 40 degrees Celsius (104 degrees Fahrenheit) in many towns.

“Further record-breaking temperatures are expected, including some that could surpass all previous records, regardless of the time of year,” Meteo France said.

The heat wave is exceptionally intense, coming very early in the summer, “but with a still uncertain duration,” the weather service said. It has already been compared to the August 2003 heat wave, when the highest temperatures in over half a century caused an estimated 15,000 deaths, many of them among older people in apartments and retirement homes without air conditioning.

Europe is the world’s fastest-warming continent, with temperatures increasing twice as fast as the global average since the 1980s, according to the European Union’s Copernicus Climate Change Service. Over the last four years, more than 200,000 people across Europe died from heat-related causes, and most of those deaths were preventable, the World Health Organization’s Europe office said this month.

The above-average temperatures can cause heat exhaustion and life-threatening heat stroke.

Across the English Channel from France, many British schools said they were closing for the day and trains were disrupted as the Met Office, the U.K. weather agency, issued a red extreme heat warning for Wednesday and Thursday, with forecasts suggesting June’s all-time daily temperature record could be broken.

Temperatures of around 37 degrees C (98.6 F) are expected in southern England, with up to 35 C (95 F) in southeast Wales. The peak of the heat wave is now forecast for Wednesday and Thursday, when highs could reach at least 39 C (102.2 F). Conditions are expected to ease by Friday, the Met Office said.

On Tuesday multiple train operators across the U.K. said they were canceling train services to “ensure the safe operation of the railway.” National Rail, which operates the railway infrastructure, urged people to “only travel if absolutely necessary” on Wednesday and Thursday.

Further south on the continent, Spain is facing a heat wave across various parts of the Iberian Peninsula.

Spain’s national weather service, Aemet, issued red alerts Tuesday for temperatures of 44 C (111 F) in southern Andalusia as well as warnings of thermometers hitting 40 C (104 F) in the normally temperate Cantabria and the Basque Country regions along its northern Atlantic coast.

Aemet meteorologist Rubén del Campo said Spain, which has experienced increasingly torrid summers of late, is only going to get hotter because of climate change as heatwaves become more frequent, longer and appear outside the traditional window of July and August.

Of the dozen heatwaves Aemet has recorded in the month of June since it started tracking them in 1975, half have occurred since 2015, del Campo said.

Human-driven climate change is heating up the atmosphere, both above Spain and in the surrounding sea waters, he said.

Copernicus, the EU monitoring agency found that in Europe and globally, 2024 was the hottest year on record and the continent experienced its second-highest number of “heat stress” days.

Scientists warn that climate change is exacerbating the frequency and intensity of heat and dryness, especially in southeastern Europe, making the region more vulnerable to health impacts and wildfires.

The name of the body of water between France and the U.K. has been corrected to the “English Channel.”

Associated Press journalists Sylvia Hui in London and Joseph Wilson in Barcelona, Spain, contributed to this report.

An African penguin cools off in a basin in Kronber zoo, near Frankfurt, Germany, Tuesday, June 23, 2026. (AP Photo/Michael Probst)

A man keeps his legs dry as he cycles through standing water in London, as a heat wave is predicted Tuesday, June 23, 2026. (AP Photo/Kirsty Wigglesworth)

People cool off in a water spray at the Eiffel Tower in Paris, Sunday, June 21, 2026. (AP Photo/Michel Euler)

A family walks through a cooling water spray at the Eiffel Tower in Paris, Sunday, June 21, 2026. (AP Photo/Michel Euler)

A man shields himself from the sun with a scarf as he walks in the garden of the Palace of Versailles, outside Paris, during a heat wave with temperatures soaring above 40 degrees Celsius (104 Fahrenheit), Monday, June 22, 2026. (AP Photo/Thibault Camus)

Tourists with an umbrella take a photo in Paris, as France is enduring a grueling heat wave with temperatures soaring above 40 degrees Celsius (104 Fahrenheit), Monday, June 22, 2026. (AP Photo/Christophe Ena )

A drugstore sign shows the temperature 43 degrees Celsius (109,4 degrees Fahrenheit) in Rennes, western France, Monday, June 22, 2026. (AP Photo/Jeremias Gonzalez)