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Visible Gold Mines Inc.

Publié le 26 octobre 2015

2015-10-26 TomaGold consolidates its position around Monster Lake with the acquisition of interests in the Hazeur and Monster Island properties

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2015-10-26 TomaGold consolidates its position around Monster Lake with the acquisition of interests in the Hazeur and Monster Island properties

Montreal, Quebec, October 26, 2015 - TomaGold Corporation(TSXV: LOT) (?TomaGold? or the ?Company?) is pleased to announce the signature of two acquisition agreements enabling it to consolidate its position around the Monster Lake property. TomaGold therefore focus on its properties in Quebec and abandons its announced plans in Arizona.

Acquisition of a 70% interest in the Hazeur property
The Company has finalized an option agreement with Visible Gold Mines Inc. (TSXV: VGD) (?Visible Gold?) whereby TomaGold can acquire a 70% interest in the Hazeur property for $230,000, including $5,000 payable in cash on signature of the agreement and $225,000 in exploration work, as well as the issuance of 1,550,000 common shares of the Company, over a three-year period. The Hazeur property consists of 61 mineral claims covering an area of 2,863 hectares on the southern border of the Monster Lake property. TomaGold will act as the project operator with support from Visible Gold Mine staff during the earn-in period.

Acquisition of a 100% interest in the Monster Island property
The Company has also completed the acquisition of a 100% interest in the Monster Island property belonging to Vanstar Mining Resources Inc. (TSXV: VSR) in exchange for a total cash payment of $10,000 and the issuance of 200,000 common shares of the Company. Vanstar will also retain a 1.5% NSR royalty which half can be repurchased for $750,000. The Monster Island property consists of 21 mineral claims covering an area of ??1,773 hectares on the eastern border of TomaGold?s Cookie Monster property.

?The addition of the Hazeur and Monster Island properties to our portfolio simply underscores our strong belief in the gold potential of the Monster Lake area,? said David Grondin, President and CEO of TomaGold. ?We feel that these projects are promising for the Company for the longer term, and we were able to acquire them at a reasonable cost due to the difficult market conditions. We also think our decision to increase our position in the area, which now stands at 204 contiguous mineral claims covering ??10,429 hectares, is supported by the exploration results published to date for Monster Lake.?

Termination of the agreement with Gold Reef Mining LLC, Arizona
The Company also announces that it has decided to terminate the agreement announced on September 30, 2014 with Gold Reef Mining LLC, Arizona, due to its inability to finance the project.

The Hazeur and Monster Island property transactions are subject to regulatory approval, and the common shares to be issued following signature of the agreements will be subject to a hold period of four months plus one day.

André Jean, P.Eng., a qualified person under National Instrument 43-101, has reviewed and approved the technical content of this press release.

About TomaGold Corporation

TomaGold Corporation is a Canadian-based mining exploration company whose primary mission is the acquisition, exploration and development of gold projects in Canada and abroad.In November 2013, the Company signed an agreement for IAMGOLD to acquire a 50% interest in each of the Monster Lake, Winchester and Lac-à-L?eau-Jaune properties in exchange for a total of 16 million dollars of exploration work and cash payments totalling $1,575,000 over five and a half years.

Contact:

TomaGold Corporation

David Grondin

President and Chief Executive Officer

(514) 206-7727

www.tomagoldcorp.com

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. The statements made in this news release that are not historical facts are ?forward-looking statements?. Readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results may vary materially from those described in such ?forward-looking? statements.

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Cours de l'or et de l'argent pour les pays mentionnés : Canada | Tous

Visible Gold Mines Inc.

EXPLORATEUR
CODE : VGD.V
ISIN : CA92834E1088
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Visible Gold Mines est une société d’exploration minière d'or basée au Canada.

Ses principaux projets en exploration sont SILIDOR MINE et STADACONA EAST au Canada.

Visible Gold Mines est cotée au Canada et en Allemagne. Sa capitalisation boursière aujourd'hui est 1,3 millions CA$ (921 420 US$, 861 159 €).

La valeur de son action a atteint son plus haut niveau récent le 03 décembre 2010 à 0,70 CA$, et son plus bas niveau récent le 07 juin 2013 à 0,01 CA$.

Visible Gold Mines possède 12 590 000 actions en circulation.

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