Tembo Announces Receipt of Management Cease Trade Order

TEMBO ANNOUNCES RECEIPT OF MANAGEMENT CEASE TRADE ORDER

Vancouver, May 1, 2019 – Tembo Gold Corp. (TSXV: TEM) (“Tembo” or the “Company”) announces that

it has been granted a management cease trade order (“MCTO”) against the Company ’s chief executive

officer and chief financial officer by its principal regulator, the British Columbia Securities Commission.

As previously announced by press release dated April 29, 2019, the application for the MCTO was made

by the Company in respect of the late filing of the Company ’s annual audited consolidated financial

statements, management’s discussion and analysis, and chief executive officer and chief financial officer

certifications for the financial year ended December 31, 2018 (collectively, the “Required Filings”), which

were required to be filed by April 30, 201 9. The delay in filing the Required Filings is the result of

difficulty in obtaining financial information from the Company ’s subsidiaries in Tanz ania. The MCTO

prohibits trading in securities of the Company, either directly or indirectly, by Tembo’s chief executive

officer and chief financial officer until Tembo files the Required Filings and the MCTO is revoked but will

not affect the ability of Tembo’s shareholders to trade in the Company’s securities.

The Company has engaged an auditor in Tanzania and the Company anticipates that it will file the

Required Filings by June 27, 2019 . The Company confirms that it intends to satisfy the provisions of the

alternative information guidelines set out in National Policy 12-203 Management Cease Trade Orders for

so long as it remains in default of the filing requirements set out herein.

The Company confirms that, as at the date hereof, there are no insolvency proceedings against it and

there is no other material information concerning the affairs of the Company that has not been

generally disclosed.

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 focu s is the discovery and

development of gold projects in Africa. The Company h as 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: [email protected]

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

This press release contains forward -looking statements. The forward -looking statements contained in this

document are based on certain key expectations and assumptions ma de by Tembo and are often, but not always,

identified by the use of words such as “anticipates”, “intends ’, “expects”, and similar expressions. Although Tembo

believes that the expectations and assumptions on which the forward- looking statements are based are

reasonable, undue reliance should not be placed on the forward- looking statements because Tembo can give no

assurance that they will prove to be correct. Since forward- looking statements address future events and

conditions, by their very nature they i nvolve inherent risks and uncertainties. Actual results could differ materially

from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the

timing for filing the Required Filings, failure to obtain fina ncial information from its Tanzanian subsidiaries, and

risks associated with the mining industry in general. Readers are cautioned that the foregoing list of factors is not

exhaustive. The forward -looking statements contained in this document are made as of the date hereof and

Tembo undertakes no obligation to update publicly or revise any forward- looking statements or information,

whether as a result of new information, future events or otherwise, unless so required by applicable securities

laws.