TomaGold completes option with Chibougamau Independent Mines and amends option with Globex Mining Enterprises
TomaGold Corp. [TSXV: LOT; OTCPK: TOGOF] reported that it has fulfilled all acquisition commitments for the first two years of its option agreement with Chibougamau Independent Mines Inc. [TSXV: CBG] to acquire a 100% interest in the Berrigan Mine, Berrigan South, Antoinette Lake, Élaine Lake and Gwillim properties, Quebec.
“We are pleased to have achieved this milestone in acquiring these properties within the highly prospective Chibougamau mining camp, and we look forward to receiving the next batch of drilling results from the Berrigan Mine project,” said David Grondin, President and CEO of TomaGold.
Further to the September 22 and November 20, 2025 press releases announcing the closing of the CIM option agreement, the company is pleased to report that it has received final approval from the TSX Venture Exchange.
The company has also entered into an amendment with Globex Mining Enterprises Inc. [TSX: GMX] to the option agreement dated August 11, 2023, last amended on September 19, 2025, pursuant to which the company has the right to acquire up to 100% interest in the Gwillim group of claims. Under the terms of the Amending Agreement, the exploration expenditure requirement originally due on the second anniversary date has been extended to the third anniversary date.
Finally, further to its December 31, 2025 news release, the company wishes to correct the number of stock options granted to 11.15 million from 9.75 million.
TomaGold’s core assets are located in the Chibougamau Mining Camp in northern Quebec, where it owns the Obalski gold-copper-silver project and holds options to acquire 12 additional properties, including the Berrigan Mine, Radar, David, 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.