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May 30, 2019 sarah

TEMBO Provides Update On Financing

Vancouver, May 30, 2019–TemboGoldCorp.(TSXV:TEM)(“Tembo”orthe”Company”) is pleased to announce that it will be proceeding with a new private placement which will supersede the financing announced April 10th 2019. The Company has made a pre-filing submission to the TSX Venture Exchange and received approval to proceed with a financing with the pricing of C$0.025 per share without a share consolidation. There is no change in the proposed pricing of this financing.

The Company proposes to raise up to $ 500,000 and to date has received proceeds totaling $193,000. Certain key investors and insiders have continued to demonstrate their long-term support by participating in the Financing. The Shares will be subject to a four month and one day hold period from the date of issuance of the shares. The proceeds raised from the Financing will be used for working capital purposes. The Financing remains subject to final TSXV approval.

About Tembo Gold Corp.

Tembo Gold Crop (TSX-V: TEM) is a Canadian publicly-listed mineral exploration company with a 100% interest in the Tembo Gold Project which is located adjacent to African Barrick’s 14Moz Bulyanhulu Gold Mine in the prolific Lake Victoria Greenstone belt in Tanzania. Tembo’s focus is the discovery and development of superior gold projects in Africa. The Company has assembled a highly experienced team with a proven history of developing, financing, and operating mining projects in Africa.

The Company’s exploration strategy is to discover mineral resources as well as continue to look for additional opportunities that can bring value to the Company and shareholders.

On Behalf of the Board of Directors of Tembo,

David Scott

President & CEO

For more information please contact:

Simon Benstead

Director & VP Business Development

Phone: 604-685-9316
Email: investors@tembogold.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.

Cautionary Note Regarding Forward-Looking Statements

Certain information set out in this news release constitutes forward-looking information. Forward looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate; “plan”, “continue; “estimate; “expect”, “may, “will”, “intend”, “could”, “might”, “should”, “believe” and similar expressions. This news release contains forward-looking statements in respect of certain anticipated goals and expectations in connection with the Financing, including, without limitation, the use of the net proceeds from the Financing, the receipt of applicable shareholder approval in connection with the change of control of the Company, the anticipated lock-up and voting arrangements to be entered into by the Investor Group, the anticipated reconstitution of the board of directors of Tembo, the anticipated approval of the TSXV for the Financing and the expectation that Tembo will remain a public company following the change of control. Forward-looking statements are based upon the opinions and expectations of management of the Company as at the effective date of such statements and, in certain cases, information provided or disseminated by third parties. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, and that information obtained from third party sources is reliable, they can give no assurance that those expectations will prove to have been correct. The forward-looking statements contained herein after provided for the purpose of providing readers with the Company’s expectations and goals in connection with the Financing, and may not be suitable for other purposes. Readers are cautioned not to place undue reliance on forward- looking statements.

Contact

STAY UP TO DATE WITH TEMBO GOLD

Tembo Gold Corporation

Suite 1305, 1090 West Georgia Street
Vancouver, BC,
V6E 3V7

Tanzania Office

Plot 1099 31 Merarani Rd, Masaki
Dar es Salaam, Tanzania
MOB: 255 767 366 146

Investor Relations

investors@tembogold.com

604-685-9316

TEMBO GOLD CORP

Focused on the discovery and development of gold projects in Africa.

Contact