Tango Announces Acquisiton of the Mano River Project, Republic of Liberia
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Tango Mining Limited
202 – 5626 Larch Street
Vancouver, British Columbia
V6M 4E1, Canada
TSX Venture: TGV
www.tangomining.com
TANGO ANNOUNCES ACQUISITON OF THE MANO RIVER PROJECT, REPUBLIC OF LIBERIA
VANCOUVER, BRITISH COLUMBIA — 10 September 2018 – Tango Mining Limited (“Tango” or the “Company”)
(TSXV:TGV) is pleased to announce that it has signed an acquisition agreement to acquire an 80% unencumbered interest
in the Mano River Project (the “Property”) from West Mining Ltd (“WML”), Republic of Liberia . The Property consists of
one recently granted 104.3 square kilometer (“km”) diamond mineral exploration license located in the western part of
Republic of Liberia. This portion of Liberia is well known for the wide spread occurrence of alluvial diamonds and the
known presence of kimberlites.
Mano River Project
The Property is underlain by Precambrian rocks of Archean age within what is known as the Leo -Man Shield. During the
1960s and early 1970s , a joint program between the Liberian Geological Survey (“LGS”) and the United States Geological
Survey (“USGS”), collected a significant amount of topographic, airborne magnetic and radiometric data covering the
entire country. This resulted in an excellent digital regional exploration database to support future exploration work.
The exploration results importantly identified that the geology of Liberia i s very favorable for the occurrence of a wide
range of metals and minerals, including gold and diamonds. The LGS and USGS documented approximately 160 kimberlite
occurrences in central and western Liberia . Due to the lack of bedrock exposure, access and vegetatio n, further follow up
work was difficult. Since the 1980s, exploration for diamond bearing kimberlites has increased significantly and a number
of distinct kimberlite clusters have been identified in western Liberia around the Property. This includes Kumgbor, Mano
Godua and Weasua and the most important recent discovery, approximately 25 km north of the Property is an area with
three identified kimberlites, known as Camp Alpha, which is being explored by a private US funded company.
The Property is u nderlain by favorable basement geology and within a part of Liberia that is well known for the wide
spread occurrence of alluvial diamonds and the known presence of kimberlites but t here has been little systematic
modern exploration.
The largest active gold mine in Liberia, called the New Liberty Gold Mine, operated by Avesoro Resources (LSE and TSX
listed), is located 45 km south west of the Property and commenced production in 2015.
Transaction
Mineral Exploration License MEL7003018 (MEL) was granted on the 7 September 2018 and expires 7 September 2021.
Upon completion of the acquisition of MEL , to be completed by 31 October 2018, the Company shall develop an
exploration program by the end of Q1 2019 and carry out the work on the Property . This exploration work is expected to
consist of geological and structural mapping, sampling and ground geophysical surveys. As consideration for the
acquisition of the 80% interest in the Property, the Company shall assume all holding costs and WML will provide full local
support and assistance to Tango within the Republic of Liberia.
On behalf of the Tango Board of Directors
Mr. Samer Khalaf
Chief Executive Officer
Tango Mining Limited
The technical disclosure in this news release has been approved by Terry L. Tucker, P.Geo., Executive Chairman of the
Company and a Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators.
Neither 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 release.
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Forward-Looking Statement
Certain information set forth in this news release contains “forward- looking statements” and “forward- looking
information” under applicable securities laws. Except for statements of historical fact, certain information contained herein
constitutes forward-looking statements, which include management’s assessment of future plans and operations and are
based on current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect.
Some of the forward -looking statements may be identified by words such as “forecasts”, estimates”, “expects”
“anticipates”, “believes”, “projects”, “plans”, “outlook”, “capacity” and similar expressions. These statements are not
guarantees of future performance and undue reliance should not be placed on them.
Such forward- looking st atements necessarily involve known and unknown risks and uncertainties, which may cause the
Company’s actual performance and financial results in future periods to differ materially from any projections of future
performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, but
are not limited to statements with respect to the estimation of mineral resources; the realization of mineral resource
estimates; anticipated future production, capital and operating costs; cash flows and mine life; potential size of a
mineralized zone; potential expansion of mineralization; potential types of mining operations; permitting timelines;
government regulation of exploration and mining operations; risks that the pres ence of diamond deposits mentioned
nearby the Company’s property are not indicative of the diamond mineralization on the Company’s property, the supply
and demand for, deliveries of and the level and volatility of prices of rough diamonds, risks that the actual revenues will be
less than projected; risks that the target production for the existing mining contracts will be less than projected or
expected; risks that production will not commence as projected due to delay or inability to receive governmental a pproval
of the Company’s acquisition or the timely completion of an NI43- 101 report; technical problems; inability of management
to secure sales or third party purchase contracts; currency and interest rate fluctuations; foreign exchange fluctuations and
foreign operations; mineral title; various events which could disrupt operations, including labour stoppages and severe
weather conditions; and management’s ability to anticipate and manage the foregoing factors and risks.
The forward -looking statements and information contained in this news release are based on certain assumptions
regarding, among other things, future prices for coal and diamonds; future currency and exchange rates; the Company’s
ability to generate sufficient cash flow from operations and access capital markets to meet its future obligations; coal
consumption levels; and the Company’s ability to retain qualified staff and equipment in a cost-efficient manner to meet its
demand. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such statements. The reader is cautioned not to place undue
reliance on forward- looking statements. The Company does not undertake to update any of the forward -looking
statements contained in this news release unless required by law. The statements as to the Company’s capacity to achieve
revenue are no assurance that it will achieve these levels of revenue.