Termination of TomaGold’s Option for the Acquisition of Chibougamau’s East Block

ROUYN-NORANDA, Québec, Aug. 02, 2024 (GLOBE NEWSWIRE) -- Chibougamau Independent Mines Inc. (CBG-TSX-V in Canada, CLL1-Frankfurt, Stuttgart, Berlin and Lang & Schwarz Stock Exchanges in Germany, CMAUF-OTC in the US), herein called Chibougamau, regrets to inform shareholders that TomaGold Corporations (LOT-TSXV) (“TomaGold”) and Chibougamau have mutually agreed today to terminate the letter of intent dated August 11, 2023 pursuant to which TomaGold had an option to acquire Chibougamau’s East Block (the “Option”), comprised of 127 mining claims in McKenzie, Obalski, Roy and Lemoine Townships, Québec, as announced on August 14, 2023 and extended as announced in press releases dated February 8, 2024 and April 12, 2024. The parties were unable to reach agreement on final terms that were commercially acceptable to each of them in order to move forward with the East Block Option.

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