Chibougamau Announces New Polymetallic Intersections at Depth on its Berrigan Mine Property

ROUYN-NORANDA, Québec, June 30, 2026 (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, is pleased to report that Tomagold Corporation (LOT-TSXV, TOGOF-OTCPK) has provided an update as regards recent drilling on the Berrigan Mine claims in the Chibougamau area of Quebec. The Berrigan Mine claims and a large number of others are under option from Chibougamau Independent Mines Inc. as updated in a CBG press release dated 2025-09-30. TomaGold has announced assay results from the first of five extension holes, TOM-25-011EXT, completed as part of Phase 2 of its drilling program at the Berrigan Mine Project, located in the Chibougamau Mining Camp of Québec. The extension of hole TOM-25-011 was designed by TomaGold to test modeled conductive plates at depth within the Berrigan Deep Zone. The hole, which reached a final depth of 834.70 m, intersected a 204.25 m mineralized envelope (see Exhibits 1 and 2), as well as several gold- and zinc-rich lenses within the broader mineralized structure.

Highlights from the Assay Results on the Berrigan drilling

• Major intersection of 204.25 m grading 2.05% ZnEq (0.48 g/t AuEq) (from 553.90 m to 758.15 m) in extension hole TOM-25-011EXT, underscoring the scale of the mineralized system within the Berrigan Deep Zone, including:
  • 31.31% ZnEq (7.38 g/t AuEq) over 2.40 m (from 554.40 m to 556.80 m)
  • 5.93% ZnEq (1.38 g/t AuEq) over 4.60 m (from 681.55 m to 686.15 m)
  • 5.90% ZnEq (1.38 g/t AuEq) over 7.45 m (from 697.05 m to 704.50 m)
  • 4.62% ZnEq (1.08 g/t AuEq) over 14.40 m (from 591.00 m to 605.40 m)
• Additional high-grade intersections: Prior to reaching the Berrigan Deep Zone, the hole extension also intersected a zone grading 3.02% ZnEq over 12.45 m (from 498.30 m to 510.75 m), including 16.23% ZnEq over 1.40 m. In addition, the original hole TOM-25-011 had previously identified several higher-level zones of interest, including 14.14% ZnEq over 2.00 m (from 307.50 m to 309.50 m).
• Results pending for holes TOM-25-009EXT, TOM-25-010EXT, TOM-25-012EXT and TOM-25-013EXT: Mineralization was consistently observed in drill core recovered from the four other extension holes, for which assay results are pending.
• Geological model validation: These results confirm the vertical continuity of the Berrigan Mine Project’s polymetallic hydrothermal system and validate the modeled extensions at depth. Preliminary 3D model viewer can be accessed at: https://www.mininghub.com/3d/v/4zxSrVUh.

Exhibit 1. Vertical section of Berrigan Deep Zone, looking west

Exhibit 2. Horizontal section of Berrigan Deep Zone, looking southwest

Geological Context and District-Scale Potential

The results from hole TOM-25-011EXT further validate the TomaGold’s geological interpretation of the Berrigan Deep Zone, confirming a deeply rooted polymetallic hydrothermal system (zinc, gold, silver and copper) beneath the historic Berrigan Mine.

Lithological and structural controls: The 204.25-metre mineralized envelope intersects a sequence of ultramafic to mafic rocks composed primarily of alternating serpentinitized peridotites, komatiites, pyroxenites and gabbros. Technical data indicate that the mineralization is strongly controlled by regional structures. It is concentrated along shear zones and is localized within contact breccias between different lithological units, which act as physical barriers favouring the accumulation of mineralizing fluids.

Mineralization styles and geochemical signature: Mineralization at Berrigan Deep is characterized by host-rock replacement and occurs as stockwork vein and veinlet networks, sheared undulating veins, and coarse semi-massive to massive sulphide masses. The sulphide assemblage is dominated by abundant sphalerite (zinc) and pyrrhotite.

Detailed analysis of the drilling data reveals a distinctive metallogenic signature. Although copper (in the form of chalcopyrite) represents a relatively minor component of the overall mineralized envelope, it exhibits a spatial correlation with higher gold grades. For example, the interval that returned 5.89 g/t Au (31.31% ZnEq) is directly associated with a copper peak of 1.28% Cu. This geochemical correlation suggests the presence of specific hydrothermal conduits or a distinct, higher-temperature mineralizing event, opening new exploration opportunities within the system itself.

Alteration and next geophysical steps: The system reflects prolonged and recurrent hydrothermal fluid circulation, marked by pervasive alteration of the host rock that has transformed the original pyroxenites and peridotites into massive assemblages of chlorite, talc and carbonates (dolomite/calcite).

This sulphide geometry and pervasive alteration produce a distinct electrical signature. Downhole (BHEM) and surface (UTEM) geophysical surveys currently underway will enable more precise mapping of these structural conductors. These 3D vector datasets will be critical in guiding future TomaGold drilling toward the core of the Berrigan Deep Zone and potentially toward additional zones of gold and copper enrichment.

Table 1: Results from Hole TOM-25-011EXT

Notes:

• The reported widths represent core lengths. True width is estimated to be approximately 80-85% of the core length, depending on the deviation angles.
• ZnEq and AuEq are calculated using the Company’s standard parameters.
• AuEq calculation was based on US$4,150/oz Au, $51.34/oz Ag, US$5.023/lb Cu and $1.392/lb Zn. AuEq = Au g/t + (Ag g/t × 0.01237) + (Cu ppm × 0.000083) + (Zn ppm × 0.000023), applying metallurgical recovery factors of 95% for zinc, 85% for gold and silver, and 90% for copper, based on a metallurgical report on Berrigan Mine zinc material prepared by Process Research Associates Ltd. in February 2002 and on recoveries from nearby deposits for gold, silver and copper.
• ZnEq calculation was based on US$4,047/oz Au, $50.22/oz Ag, US$4.796/lb Cu and $1.390/lb Zn. ZnEq = Zn ppm + (Ag g/t × 527) + (Au g/t x 42466) + (Cu ppm × 3.45) / 10,000, applying metallurgical recovery factors of 95% for zinc, 85% for gold and silver, and 90% for copper, based on a metallurgical report on Berrigan Mine zinc material prepared by Process Research Associates Ltd. in February 2002 and on recoveries from nearby deposits for gold, silver and copper.

Table 2: Drill Hole Collar

Shareholders may access the detailed TomaGold press release announcing the recent drill assay results which Chibougamau has presented here on the Berrigan Royalty Property and additional details by clicking here clicking here.

This press release was written by Jack Stoch, P. Geo., President and CEO of Chibougamau Independent Mines Inc. and David Christie P. Geo., as consultant to the company in their capacity as Qualified Person (Q.P.) under NI 43-101 and approved by 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.

Neither the 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.

Forward Looking Statements
Except for historical information this News Release may contain certain “forward looking statements”. These statements may involve a number of known and unknown risks and uncertainties and other factors that may cause the actual results, level of activity and performance to be materially different from the Companies expectations and projections. A more detailed discussion of the risks is available under “disclaimer” on the Company’s website.

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