Tembo Announces Receipt of Management Cease Trade Order

TEMBO ANNOUNCES RECEIPT OF MANAGEMENT CEASE

TRADE ORDER

Vancouver, June 16, 2020 – 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 in the Company’s press release dated June 10, 2020, the application for the

MCTO was made by th e 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 , 201 9 (collectively, the

“Required Filings”), which were required to be filed by June 15, 2020 . The delay in filing the Required

Filings is the result of the COVID-19 pandemic that have caused significant disruptions to the Company’s

workforce and operations and caused difficulties in obtaining financial information from the Company ’s

subsidiaries in Tanzania. The MCTO prohibits trading in securities of the Company, either directly or

indirectly, by Tembo’s chief executive officer and chief financial offi cer 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 Compan y will work diligently with its auditors to file the Required Filings by July 15, 2 020. 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 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 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

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For more information please contact:

Simon Benstead

Director & VP Corporate 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

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 forw ard-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 an d, 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 fi le 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 carefull y 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.