Tombill Encounters Mineralization in Ongoing Near-Surface Drilling and Provides Comprehensive Review of Results from its 2021 Drill Program

Highlights of Current Phase 2A 2022 Near-Surface Drilling Program to Date

• Drilling commenced mid-April; Forage FTE Drilling is the contractor for the program.
• Holes TB22-002 and TB22-005 targeting the Ellis Syncline gold target situated in the north- central portion of the Tombill Main Group property have encountered significant hydrothermal alteration with associated silica-sulfide veining across a broad, isoclinally folded syncline encompassing greywacke, iron formation and albite porphyry, very similar lithologies to those found at the open-pit mine development project of Greenstone Gold Mines ("Greenstone") located a few kilometers to the east.
• Hole TB22-005, which tests the southern half of the target, passed through an approximately 50 m wide zone of continuous, visually impressive sulphide mineralization in the form of disseminated and stringer pyrite hosted by banded iron formation and lesser greywacke. Somewhat weaker pyrite mineralization continues below the main alteration zone which starts 170 m down-hole.
• Hole TB22-002 which tests the Ellis Syncline target about 400 m east of hole TB22-005 intersected thinly layered greywacke and banded iron formation intruded by two thick bodies of albite porphyry showing varying intensities of sericite and hematite alteration, foliation and disseminated pyrite mineralization. Quartz stringers are abundant in the deformed iron formation. Styles of rock alteration and mineralization resemble those seen in other deposits in the Geraldton district, including at the nearby Hardrock deposit currently being developed by Greenstone into one of Canada's largest gold mines.
• Half-core samples generally 1.0 m in length are being collected and sent for fire assaying at the Actlabs analytical facilities in Geraldton, Ontario.
• Drilling is also planned for the claim group where the past-producing Tombill gold mine is located. Between 1938 and 1942 this mine produced 68,737 oz gold at an average grade of 12.36 g/t Au. The bulk of gold resources presently known in the Geraldton district are defined around the old underground workings of the district's 10 past-producing mines.
• To date, Tombill has completed 1,823 m of diamond drilling in five holes and is drilling an additional three holes encompassing approximately 1,200 m, expected to be completed by early June.

"We are delighted to see early indications of a large-scale hydrothermal system at the Ellis Syncline target, one of several near-surface targets we recently identified across the Tombill Main Group," commented Ron Burk, Strategic Advisor & Head of Exploration & Geology, "The style of mineralization observed in recent holes, especially hole TB22-005, bears similarities to the mineralization forming the gold zones that constitute the Hardrock gold deposit being developed by Greenstone to the east. Given the robust length of alteration and veining observed in this hole, we are eager to see what assays bring."

Phase 2A Near-Surface Drilling Program at Tombill Main Group

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*Proposed length of drill hole

Comprehensive Review of 2021 Talmora & F-Zone Diamond Drill Results

Deep Drilling Targeting Extensions of the F-Zone

In 2021, Tombill undertook a deep diamond drilling program to test for the extension of the F-Zone, a major gold ore zone that plunges roughly 20 degrees westward from Greenstone's Hardrock deposit onto the Tombill Main Group property.

Holes TB21-005A, -005B and -005E, three wedged holes from parent-hole TB21-005 which was collared approximately 280 m west of the eastern property boundary, all encountered strong intervals of gold mineralization including:

• TBL21-005A

6.03 g/t Au over 13.3 m

Within a 30.5 m long interval averaging 2.96 g/t Au, and

A second interval of 5.04 g/t Au over 3.0 m

• TB21-005B

- 4.31 g/t Au over 6.0 m

- Within a 25.0 m long interval averaging 1.20 g/t Au

• TB21-005E

- 5.29 g/t Au over 8.0 m

- Within a 15.0 m long interval grading 3.24 g/t Au

- A second interval of 13.1 g/t Au over 2.0 m

- Within an interval of 11.0 m averaging 4.12 g/t Au

- A third interval of 24.13 g/t Au over 1.0 m

- Within a zone 3.0 m wide grading 8.52 g/t Au

Gold intercepts from these three holes are considered by Tombill to be equally robust as typical intersections of the F-Zone on the adjacent Greenstone mine property, and consequently provide strong evidence that the F-Zone remains intact and well-mineralized on Tombill's Main Group claims.

Drilling in the area immediately west of the eastern boundary of Tombill's Main Group property encountered complex geology including post-mineral faulting and post-mineral mafic dikes. Consequently, holes TB21-001 through TB21-004 failed to produce adequate tests of the F-Zone but did encounter short intervals of significant gold mineralization in the general vicinity of the intended target (see table below).

Hole TB21-008, the furthest west drill-hole of the deep drilling program and 580 m west of our eastern property boundary, is believed to have passed just below the targeted F Zone, encountering six short intervals of gold mineralization (see table below). Significantly, at depth this hole passed through 93 m of sericite-altered, anomalously gold-bearing albite porphyry interpreted to be the anticlinally folded Hardrock Porphyry, an intrusive rock mass which is spatially and perhaps genetically associated with important ore zones in Hardrock gold deposit situated a few kilometers to the east. In spite of failing to intersect robust F-Zone mineralization, the multiple gold intercepts and the weakly mineralized intrusive porphyry encountered in TB21-008 suggest the targeted gold system extends at least a further 300 m west of holes TB21-005A, 005B and -005E, or 580 m from our property boundary.

F Zone Long Section View of Deep Drilling 2021

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Shallow Drilling at the Talmora Mine Target

In Q4 2021, Tombill Mines undertook a three-hole, near-surface drilling program at the Talmora Mine target in the northeastern part of our Tombill Main Group. The former Talmora Longlac mine, with a 534-foot-deep shaft and minor underground development on two levels, produced less than 1,500 oz gold in the early 1940's. All three holes yielded multiple intervals of gold mineralization (see below). Of particular note, holes TAL21-001 and TAL21-002 encountered scatterings of gold mineralization over appreciable lengths, from 27 to 220 m in the former and from 55.5 to346 m in the latter. Notable mineralized intercepts include:

• 7.57 g/t Au over 2.0 m within a 5.5 m interval averaging 3.37 g/t Au in hole TAL21-001, and
• 1.65 g/t Au over 11.5 m in hole TAL21-002.

Tombill takes the view that the robust anomalism for gold encountered over long lengths in these holes is a promising indication of proximity to a larger mineralized system. Therefore, more consideration is being given to further work at the Talmora target.

The presence of economically significant zones of shallow gold mineralization has clearly not been thoroughly tested over most of the Tombill Main Group. The current Phase 2A Drilling Program plus the programs completed in 2021 are the first drilling in four decades on the property and have been focused on making a new discovery in this long-lived and productive gold mining district.

Talmora Long Section View Looking West 2021

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Qualified Person

Ron Burk, P.Geo, is the Company's designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects and has reviewed and approved its scientific and technical content.

QA/QC

Assays were performed at Actlabs accredited lab in Geraldton, Ontario. Tombill geologists insert blanks and standards into the sample stream at a rate of at least 2 per 25 core samples. A chain of custody is maintained to the assay lab. At present, the true widths of the mineralized intercepts have not been calculated.

About FTE

Founded 1987, Forage FTE Drilling specializes in a variety of drilling services in Canada, Africa, and South America. Renowned for the quality of its work, FTE Drilling ensures an unmatched response time in a safe and environmentally friendly workplace. They have recently drilled in the Geraldton district.

About Tombill

Founded 1935, by Newmont Mining and prospectors' 'Tom' and 'Bill' Johnson, Tombill (TSXV: TBLL) (OTCQB: TBLLF) owns 2 of the 10 past-producing mines in the Geraldton gold corridor, 4 claim groups, of which 3 are situated in the Geraldton gold district of north-central Ontario (about 225 km NE of Thunder Bay). Geraldton offers optimal and installed infrastructure. Holdings comprise 74 royalty-free mining claims (60 fully owned patented claims, 5 leases, 9 mineral rights only). Of these, the 51-patented claim Main Group is in the center of the Geraldton Gold District and straddles the Trans-Canada Highway; the 5-claim Ellis Group lies 4 km south of the town of Geraldton; and the original Tombill Mine group of 6-patented claims sits 10 km west-southwest of Geraldton. The Tombill Gold Mine produced 68,737 high-grade gold oz between 1938 and 1942 in the southeast corner of the claim group. The Talmora Longlac Mine, located in the northeast of the Main Group property, was built in 1941, but saw only minor production before closing in 1942 (1,406 gold oz). The Main Group borders on the property of the under-construction Greenstone Mine, which will be one of Canada's largest gold mines with production aimed for 2024.

Tombill Property Location Map


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For more information, please visit www.tombillmines.com, and contact:
Georgia Bevan
Investor Relations
Email: georgia@tombillmines.com

Tel: +1 647 493 8270

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