TomaGold hit by $300K (U.S.) fraud from overseas actors

Executive Summary

• TomaGold Corp. has fulfilled all acquisition commitments for the first two years of its option agreements with SOQUEM, securing a 100% interest in seven properties (Williams, David, Brosman, Radar, Dufault, McKenzie, and Bruneau) within its Chibougamau project portfolio.
• The company is awaiting assay results for eight drill holes on the David project and five on the Berrigan mine project, while preparing a winter drilling program for the Radar project targeting 26 high-priority sites.
• A $2.25 million financing is advancing with a first closing expected shortly, and the company is pursuing legal action after being defrauded of $300,000 USD by external parties.

Key Details

• SOQUEM Option Commitments: TomaGold has completed all acquisition commitments for the first two years of its option agreements with SOQUEM. This grants the company a 100% interest in the Williams, David, Brosman, Radar, Dufault, McKenzie, and Bruneau properties.
• Exploration Updates (David Project): The company is awaiting the final geophysical survey report and assay results for eight drill holes completed on the David project.
• Exploration Updates (Berrigan Mine Project): Assay results are pending for five drill holes from the Berrigan mine project, previously disclosed in an Oct. 22, 2025 press release.
• Radar Project Drilling: TomaGold is preparing a winter drilling program for the Radar project, where 26 high-priority targets have been identified.
• New Claim Staking: The company has staked 49 new claims located between the Berrigan mine property and the David and William properties. This consolidates and connects the western portion of its Chibougamau land package. Preliminary exploration on these new claims is planned for 2026.
• Financing: A $2.25 million proposed financing, announced on Nov. 7, 2025, is advancing well, with a first closing expected shortly.
• Contingent Payment (Hazeur/Monster Lake Properties): Regarding the $1 million contingent payment owed to TomaGold following the sale of its Hazeur, Monster Lake East, and Monster Lake West properties, Northern Superior Resources Inc. filed its management information circular on Nov. 17, 2025. A special meeting of shareholders is scheduled for Dec. 10, 2025.
• Financial Fraud Incident: TomaGold was the victim of a sophisticated financial fraud totaling $300,000 USD. The scheme was executed by external parties operating out of Singapore, Geneva, and Milan. The company is working with law enforcement in Montreal and Milan to investigate and pursue the perpetrators. The company states this incident does not affect continuing operations or the potential of its mining projects.
• CIM Transaction Update: Final approval from the TSX Venture Exchange for the Chibougamau Independent Mines Inc. (CIM) option agreement (announced Sept. 22, 2025) is contingent on filing a National Instrument 43-101 technical report. The report is nearly complete and will be submitted in a timely manner.
• Qualified Person: The technical content was reviewed and approved by Jean Lafleur, PGeo, Vice-President of Exploration.

Notable Quotes

• "This achievement marks continued steady progress across the company's Chibougamau project portfolio."
• "While regrettable, this incident does not affect TomaGold's continuing operations and has no impact on the strong potential of its mining projects in Chibougamau, Que."