• Hole TAL21-002 intersects 1.65 gpt gold over 11.5m around Talmora - a past-producing mine, and Tombill's first near-surface target
  
  
• Tombill diversifies and expands the footprint of its exploration program by pursuing near surface exploration targets near two past-producing mines on Tombill's claims

Toronto, Ontario--(Newsfile Corp. - November 15, 2021) - Tombill Mines Limited (TSXV: TBLL) (OTCQB: TBLLF) (the "Company" or "Tombill"), is pleased to provide an exploration update at its 100% controlled, royalty-free flagship and patented Tombill Main Group and its claims within the Geraldton Gold Camp.

Summary of Recent Results from Talmora Near Surface Drill Program

• Hole TAL21-002 returned 1.65 grams per tonne (gpt) gold over 11.5 m (metres) around the past-producing Talmora gold mine.

Summary of Previously Released Result from Phase One Drill Programs to Date

• Hole TB21-005E, a wedge hole drilled from mother hole TB21-005, returned 5.29 gpt gold over 8.0m from the targeted F-Zone. A second interval of 13.88 gpt gold over 2.0m was encountered somewhat deeper in a new mineralized structure deemed the F2-Zone.
• Hole TB21-005B, another wedge hole drilled from hole TB21-005, returned 8.15 gpt gold over 4.1m from the F-Zone.
• Hole TB21-005A, the first wedge hole drilled from TB21-005, returned 6.23 gpt gold over 13.3m confirming Hardrock's robust F-Zone extends onto Tombill's flagship property.
• The Company is encouraged by the number of other multiple subsidiary zones that the drilling has intersected both above and below the main F-Zone target. These subsidiary zones are relatively narrow where they have been intersected due to their different plunge orientation when compared to the F-Zone. It is anticipated that these zones will be the focus of additional work after the F-Zone has been more fully delineated.

Results from the Talmora Near Surface Drilling Program

Tombill has completed an initial drilling program to investigate the extent of near surface gold mineralization around the historic Talmora mine on Tombill's Main Group claims. Tombill is investigating this area to understand the potential for broad lower grade halos of gold mineralization around the narrow higher-grade veins historically mined in this area.

The Talmora drill program consisted of three diamond drill holes totalling 1,146 meters of core drilling and was targeted to test the area around the Talmora vein (also referred to as the Elmos vein in some historic records). The historic Talmora vein was explored, and test mined, from a shaft driven on an island in Kenogamisis Lake during several phases of work during the 1930's and 40's.

The three holes in this program each intersected the Talmora vein within strongly foliated and sericite altered gabbro/diorite host rocks with up to 3% pyrite and 1.5% arsenopyrite mineralization. Gold values associated with these intercepts are shown in Table 1 below. The best result from the program was in hole TAL21-002 which returned 1.65 gpt Au over 11.5 meters at a depth of 154.5 to 166.0 meters down the hole.

The gabbro/diorite intrusive rocks hosting the gold mineralization encountered in these initial three drill holes are relatively competent and impermeable and usually not the ideal host for the broad halos of low-grade mineralization in the Geraldton area, so we were pleased to see some positive indicative results. The main target, several hundred meters along strike to the east, the Talmora vein is hosted in greywacke which is a more favorable host rock and hosts much of the near surface lower grade mineralization on the adjoining property of Greenstone Gold Mines. Tombill is considering a drill program to test the Talmora/Elmos vein further along strike to the east where it is hosted in the more favorable greywacke host rocks. The program will require drilling under a lake.

Tombill will maintain its exploration program drill testing to define the extent of the F-Zone where recent drilling has confirmed the westward extension from the adjoining Greenstone Mines property onto the Tombill Main Group claims. In addition, Tombill is also reviewing other geological and geophysical targets on its Geraldton Gold Camp claims, including the area around the past-producing Tombill and Talmora mines to evaluate the potential for near-surface mineralization. To date, seven areas have been stripped and mapped, and, where appropriate, channel sampled. To date the surface stripping and sampling program has returned anomalous results up to 3.2 gpt over 2.0m.

Figure 1 - Talmora Drilling Section Looking West

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/7659/103523_0186cb2d441779b8_002full.jpg

Table 1 – Significant Results of Talmora Drilling

Historical Mining in the Geraldton Gold Camp Late 1930's to 1970's

The Geraldton Gold Camp was mined sporadically from the 1930's to 70's where it produced some 3 million Au oz with an average grade of 5.87 gpt from ten past-producing mines over a 15km strike length. Since then, six out those ten past-producing mines have been the focus of modern exploration drill programs which have added additional mineral resources (see Figure 2). Tombill Mines owns two of these past producing mines and will be doing further exploration on them, including the recent drilling at Talmora.

Figure 2 – Geraldton Gold Camp Past Producers (1934-70) & Current Resources (1)

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/7659/103523_0186cb2d441779b8_005full.jpg

Source: (1) InnovExplo 2015 (2) Equinox Gold Mineral Reserves Mineral Resources (Sept 20, 2021)

The Company's strategic location with its past-producing mine-sites makes those high probability targets for exploration. Those targets will be included in the Company's Bayesian ranking stratagem for further evaluation.

Adam Horne, CEO - commented; "We are pleased to announce an update from the early stages of our near surface exploration over one of our past-producing mines, Talmora. There is a strong correlation, where the majority of the past-producing mines in the Geraldton Gold Camp have been recently explored and established NI 43-101 resource estimates significantly larger than what they sporadically mined during the 1930's to 1970's. We are aiming to further expand and diversify our potential resource footprint by maintaining focus on our F-Zone drilling campaign in tandem with our recent and continuing near surface exploration program."

Quinton Hennigh, Geologic Director for strategic shareholder, Crescat Capital, further added; "Tombill holds a large, highly prospective gold project, the Tombill Main Group, immediately adjacent to Equinox's Greenstone Mine, soon to become one of Canada's largest producing gold mines. Tombill has recently demonstrated that the prolific F-Zone extends from the Greenstone Mine onto the Tombill Main Group where it remains open along strike to the west. The near surface favorable geology at Greenstone Mine also extends onto Tombill Main Group suggesting very strong potential for discovery in and around historic gold mines that span the property. With Tombill's recent expansion of their exploration team, the Company is now well-positioned to pursue near surface exploration targets."

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 1 per 25 samples. A chain of custody is maintained to the assay lab. At present the true widths of the mineralized intercepts have not been calculated.

Qualified Person

Dave Laudrum, 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.

About Tombill

Tombill owns various royalty-free mineral exploration and past-producing gold properties in the Geraldton and Beardmore Camp, Ontario. The Company's business is mineral exploration, primarily gold. It has 74 claims: 60 are owned and patented, five leased, and nine where it owns the mineral rights. Of these, the Tombill Main Group property comprises 58 claims: 54 owned patents, and four owned mineral rights. The Tombill Main Group claims were originally staked in the first Geraldton Gold Rush in the 1930's by Tom Johnson and his brother Bill.

For more information, please visit www.tombillmines.com, and contact:

Adam Horne
Chairman & Chief Executive Officer
Email: This email address is being protected from spambots. You need JavaScript enabled to view it. / Tel: +1 647 493 8270

Reda Jalabi
Strategic Development
Email: This email address is being protected from spambots. You need JavaScript enabled to view it. / Tel: +1 647 493 8270

Cautionary Note Regarding Forward-Looking Information

Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the trading date of the Company's common shares on the TSXV. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "will" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.

Additional information identifying risks and uncertainties is contained in filings by the Company with the Canadian securities regulators, which filings are available at www.sedar.com.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

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