NORRAND ROUTE, Quebec, Dec. Dec. 24, 2024 (GLOBE NEWSWIRE) — Chibougamau Independent (LON:) Mines Inc. (CBG-TSX-V in Canada, CLL1-Frankfurt, Stuttgart, Berlin and Lang & Schwarz Stock Exchanges in Germany, CMAUF-OTC in the US), Herein referred to as Chibougamau, would like to inform shareholders that according to the agreement with Tomagold Corporation (TSXV: LOT) dated August 11, 2023, Chibougamau has received the initial cash and share payment. In addition, Chibougamau received a portion of the first anniversary payment but, due to market conditions, extended the first anniversary $50,000 cash and $600,000 working capital requirement until June 30, 2025.

Chibougamau will report to shareholders on the status of the West Block agreement on or shortly after the June 30, 2025 date.

This press release was written by Jack Stoch, P. Geo., President and CEO of Chibougamau Independent Mines Inc. in his capacity as a Qualified Person (QP) under NI 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 the release.

Forward-Looking Statements
Other than 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 could cause actual results, activity levels and performance to differ materially from expectations and projections. of Companies. A more detailed discussion of the risks is available under the disclaimer on the Company’s website.

61,065,536 shares issued and outstanding

Source: Chibougamau Independent Mines Inc.