Tembo GOLD Announces Closing of Financing

TEMBO GOLD ANNOUNCES CLOSING OF FINANCING

Vancouver, July 31, 2019 – Tembo Gold Corp. (TSXV: TEM) (“Tembo” or the “Company”) is pleased to

announce that further to its news release dated May 30, 2019 , the Company has completed its non -

brokered private placement financing by issuing 15,040,000 common shares (each a “Share”) at a price

of $0.025 per Share for gross proceeds of $ 376,000. All Shares issued are subject to a four month hold

period from the date of closing. Proceeds of the financing will be used for working capital.

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 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

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 made 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 involve inherent risks and uncertainties. Ac tual 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 and the required filings in connection with the condensed consolidated

interim financial statements for the three months ended March 31, 2019 , failure to obtain financial information

from its Tanzanian subsidiaries, and risks associated with the mining industry in general. Readers are cautioned

that the foregoing list o f 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.