TomaGold provides update on Monster Lake spin-out transaction

MONTREAL, June 25, 2019 /CNW Telbec/ - TOMAGOLD CORPORATION (TSXV: LOT) ("TomaGold" or the "Corporation") announces that TSX Venture Exchange approval is still pending with respect to the plan of arrangement to spin-out Monster Exploration Inc., which was first announced on January 25, 2019 (see press releases dated January 25, 2019 and April 18, 2019).

Pursuant to the plan of arrangement, TomaGold will spin-out all of its Monster Lake assets in the Province of Quebec into a new company called Monster Exploration Inc.

The Corporation will set a new meeting date to obtain shareholder approval in August 2019 and court approval in July 2019. The Corporation will put out an update promptly following TSX Venture Exchange approval.

About TomaGold Corporation

TomaGold Corporation is a Canadian mineral exploration Corporation engaged in the acquisition, assessment, exploration and development of gold mineral properties. It currently has joint venture agreements with IAMGOLD Corporation for the Monster Lake project, with Goldcorp Inc. for the Sidace Lake property, and with Goldcorp Inc. and New Gold Inc. for the Baird property. TomaGold has interests in seven gold properties near the Chibougamau mining camp in northern Quebec: Monster Lake, Winchester, Lac à l'eau jaune, Monster Lake East, Monster Lake West, Obalski and Lac Doda. It also holds interests of 39.5% in the Sidace Lake property and 24.5% in the Baird property near the Red Lake mining camp in Ontario, and has a 70% interest in the Hazeur property, at the southern edge of the Monster Lake group of properties.

Neither 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.

SOURCE Corporation TomaGold