Tembo Gold Grants Stock Options
Tembo Gold Grants Stock Options
May 11 , 202 3, Vancouver, BC – Tembo Gold Corp. (TSX-V: TEM; FSE:T23 A) ("Tembo" or the "Company")
announces the granting of director stock options for the purchase of up to 750,000 common shares, at an
exercise price of $0.18 per share, for a period of three years.
About Tembo Gold Corp.
Tembo Gold is a Canadian public company listed on the TSX Venture Exchange ("TSX-V") under the symbol TEM.
The Company has a 100% interest in the Tembo Gold Project which has over forty thousand meters of drilling
and is located adjacent to Barrick's 20Moz Bulyanhulu Mine in Tanzania’s prolific Lake Victoria Greenstone belt.
Tembo recently completed a transaction with Barrick (who now owns approximately five percent of Tembo),
whereby Tembo sold six of its non-core licenses to Barrick for $6mm USD, and Barrick is committed to spending
$9mm USD over the first four years. Additionally, Tembo will receive contingent payments of up-to $45mm USD
on the first five million ounces discovered by Barrick. The company has assembled a highly expe rienced team
with a track record of developing, financing, and operating mining projects in Africa. Tembo is focused on the
discovery and development of world-class gold projects in Africa as well as seeking additional opportunities that
can bring value to the company and shareholders.
On Behalf of the Board of Directors of Tembo, David Scott, President & CEO
David Scott
President & CEO
Phone: +255 767 366 146
Email: [email protected]
For more information please contact:
Simon Benstead Marc Cernovitch
Director & CFO Director
Phone: 604-685-9316 Phone: 604-685-9316
Email: [email protected] Email: [email protected]
www.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