Chibougamau Independent Mines Inc

Description

Chibougamau Independent Mines is a Quebec-focused exploration company, closely affiliated with Globex Mining Enterprises, whose flagship Berrigan Mine property (a past-producing zinc-gold-silver-copper polymetallic mine in the Chibougamau camp) is under a staged option to TomaGold Corporation. TomaGold is earning up to a 100% interest in the Berrigan Mine, Berrigan South, Antoinette, Elaine Lake and Gwillim claims through a total of $2.7 million in cash payments, $1.85 million in share issuances, and $5.6 million in committed exploration expenditures across six anniversaries, and completed all of its initial two-year commitments in January 2026. Chibougamau and Globex each retain a 2% gross metal royalty on Berrigan regardless of how TomaGold's option outcome proceeds.

TomaGold's funded drilling has returned strong polymetallic intercepts, including hole TOM-25-015 (5.08% zinc-equivalent over 98.5m, including 23.20% ZnEq over 4.90m) and TOM-25-014 (13.68% ZnEq in a newly identified lower zone, including 41.79% ZnEq over 1.4m), with a Phase 2 program using borehole EM and surface geophysics to test deeper conductive targets. The company's secondary Kokko Creek property, roughly 15km east-southeast of Chibougamau, carries only a historical, non-NI 43-101-compliant estimate (115,000 tons at 1.50% copper, 0.21 g/t gold) that is not treated as a current resource. No PEA, PFS, DFS or current NI 43-101 mineral resource exists for either property.

Weakness

List of projects

1. Project 1: Berrigan Mine Property (optioned to TomaGold, 2% GMR retained) — Chibougamau, Quebec; metals: Zinc, Gold, Silver, Copper.
2. Project 2: Kokko Creek Property — 100% interest, Chibougamau camp, Quebec; metals: Gold, Copper.

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