Tembo Gold Closes Financing

Vancouver, British Columbia--(Newsfile Corp. - September 13, 2022) - Tembo Gold Corp. (TSXV: TEM) ("Tembo", or the "Company") announces the closing of the second and final tranche of its non-brokered private placement financing (the "Private Placement") announced on April 27, 2022. The Company has issued in aggregate 1,085,000 common shares (each, a "Share") of the Company, at a price of CDN$0.27 per Share for gross proceeds of $292,950. The proceeds will be used for general working capital. All securities issued are subject to a hold period expiring four months plus a day from the date of closing. No finder's fees were paid.

About Tembo

Tembo Gold is a Canadian public company listed on the TSX Venture Exchange ("TSX-V") under the symbol TEM. The Company currently has 100% interest in the Tembo Gold Project which is located adjacent to African Barrick's 20Moz Bulyanhulu Mine in the prolific Lake Victoria Greenstone belt in Tanzania. Our focus is the discovery and development of world-class 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.

On Behalf of the Board of Directors of Tembo,

David Scott
President & CEO
Phone: +255 767 366 146
Email: dscott@tembogold.com

For more information please contact:

Simon Benstead 
Director & CFO 
Phone: 604-685-9316
Email: investors@tembogold.com 

Marc Cernovitch
Director & VP Corporate Development
Phone: +1 647 203 7868
Email: mcernovitch@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.

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