May 20, 2021 Lake Victoria Gold

Tembo Gold Corp. Announces Appointment of Advisory Board

Vancouver, British Columbia — May 20, 2021 – Tembo Gold Corp. (TSXV: TEM) (“Tembo” or the “Company”) is pleased to announce the appointment of Dr. Bob Foster and Emma Priestley to its Advisory Board.

David Scott, President & CEO, stated, “We are delighted to have Bob Foster and Emma Priestley join our Advisory Board. Their combined technical, corporate and African experience will be of great value to Tembo as we move forward on the Tembo Project. Both Bob and Emma’s prior involvement with Tembo through Stratex International Plc., and their willingness to join the advisory board speaks to the belief they have in the quality of the project. We look forward to a fruitful and exciting engagement with them both as we move the project to the next stage.”

About Dr. Bob Foster

Dr. Bob Foster has more than 40 years of experience as a professional economic geologist in exploration, mining, and applied academic postings. Dr. Foster has particular expertise in the genesis of and exploration for gold deposits throughout the world with a focus on Africa. Following ten years in the mining industry in Rhodesia (now Zimbabwe) he joined Southampton University in 1984 where he subsequently devoted more than 15 years to lecturing and managing a large applied research group investigating ore-forming processes and mineral exploration strategies on regional and area scales and within operating mines. Dr. Foster has published numerous scientific and technical papers and has been an invited keynote speaker at many international scientific and technical conferences around the world.

During his time at the University of Southampton Dr. Foster also undertook numerous consultancy projects with major and junior mining companies and was a founding member of the management team of Pan-African Mining Pvt Ltd that developed the open pit Ayrshire gold mine in Zimbabwe in 1991-1996. He also directed a major gold exploration programme for associated company Pan-Reef Mining in Zimbabwe during 1994-1996. For six years Bob was the Minerals Manager for UK-based international oil & gas consultancy group Exploration Consultants Limited, generating and managing company and multi-lateral projects in Africa and Asia. In 2004 he co-founded Stratex Exploration Ltd. (“Stratex”) and, as CEO, listed on AIM in January 2006. Stratex focused on gold and gold-copper exploration, initially in Turkey and then extending throughout Africa and, amongst other successes, discovered the 1M oz Öksüt gold deposit in Turkey.

Bob stepped down as CEO of Stratex in August 2016 but continues to provide consultancy services to the exploration and mining industry. He is a Fellow of the Geological Society of London (FGS), Chartered Geologist (CGeol), Fellow of the Institute of Materials, Minerals and Mining (FIMMM), Chartered Engineer (CEng), Fellow of the Society of Economic Geologists, and a Fellow of the Association of Applied Geochemists.

About Emma Priestley

Emma Priestley is currently the Chief Executive Officer, Executive Director of GoldStone Resources Ltd. (“GoldStone”). GoldStone is an AIM listed gold exploration and development company focused on a portfolio of projects in Ghana, and recently commenced production at its Homase Mine within its Akrokeri-Homase Gold Project. Emma specialises in Africa and emerging market sectors, developing and advising companies. Emma was previously a director of Stratex where she provided guidance on business development and market liaison matters, in conjunction with which she was an adviser to African Resource Capital focussed on investments on the African Continent. Previously, in this capacity, until its successful takeover, she was an Executive Director of Lonrho Plc, focussing on opportunities in agriculture, infrastructure, logistics, and natural resources, and attracting investors to them, both in equity and structured finance. Emma has worked with GVA Grimley and IMC Mackay & Schnellmann, investment bank CSFB and advisers VSA Resources and Ambrian Partners, where she worked as a corporate broker and financial adviser. Emma is a graduate of Camborne School of Mines, is a chartered Mining Engineer and Chartered Mineral Surveyor.

About Tembo Gold Corp.

Tembo is a Canadian publicly listed mineral exploration company with a 100% interest in the Tembo Gold Project. Tembo’s focus is the discovery and development of gold projects in Africa. The Company has assembled an experienced team with a history of developing, financing, and operating mining projects. 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
Phone: 255-767-366146

For more information please contact:

Simon Benstead
Director & VP Corporate Development
Phone: 604-685-9316

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, including, without limitation, the anticipated filing date for the Required Filings. 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. Readers are cautioned not to place undue reliance on forward-looking statements.

These forward-looking statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include that the Company does not file its Required Filings by the anticipated date. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements, except as may be required by applicable securities laws.

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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