Vancouver, British Columbia--(Newsfile Corp. - December 14, 2023) - Tembo Gold Corp. (TSXV: TEM) ("Tembo", or the "Company") is pleased to provide an update on the recently announced License Purchase Agreement of the Dora project. The Company is pleased to report that it has satisfied its obligations regarding payment terms of the purchase agreement, and the process of transferring the license has commenced. The Company expects the transfer to be completed during Q1 2024.

The potential future resource growth within both the Imwelo mining licence and this PL, along strike extensions to known mineralization and at depth, provide confidence that an expanded production and longer life for the Imwelo project is likely.

Once the transfer has been completed and funds are available, follow-up exploration, in particular drilling, will commence to upgrade the resource and provide additional data to support expansion studies of the Imwelo mine development project¸

The Project Highlights

The Dora Project prospecting licence (PL) acquisition which was announced in August, bounds the Imwelo mining license to the west, east and south.

Mineralized structures hosting the gold trend off the Imwelo ML into the Dora PL and host the historical resource of; Indicated Resource of 90,800oz Au at 1.19g/t; Inferred Resource of 424,310oz Au at 1.43g/t within the Dora PL.

A number of targets identified by soil geochemical anomalies within the PL provide additional future targets for follow-up exploration. read more on
https://www.newsfilecorp.com/release/190986/Tembo-Gold-Reports-Progress-of-the-Acquisition-of-Dora-Project