Annual and Special Meeting Results
TSODILO RESOURCES LIMITED
ANNUAL AND SPECIAL MEETING RESULTS
FOR IMMEDIATE RELEASE May 20, 2021
TORONTO, ONTARIO - Tsodilo Resources Limited ("Tsodilo" or the "Company") (TSX-
V: TSD) (OTCQB: TSDRF) (FSE: TZO) is pleased to announce that at its Annual and Special
Meeting of shareholders held on May 20, 2021, the following directors were elected: James M.
Bruchs, Thomas S. Bruington, Jonathan R. Kelafant, Blackie Marole and Mark Scowcroft.
The shareholders also approved the appointment of Crowe MacKay LLP, Vancouver, Canada,
as auditors of the Company and voted to increase the number of shares reserved for issuance
under the Company's Stock Option Plan to 9,830,420 to reflect an amount equal to 20% of the
outstanding common shares issued as at the date of Shareholder approval,
Grant of Stock Options
Under the terms of its Stock Option Plan, Tsodilo granted option to directors, employees and
consultants to purchase an aggregate of 650,000 common shares of Tsodilo exercisable at
CDN$ 0.75. These options vest as to 25% effective Ma y 21, 2021, and 25% on each of the
sixth, twelfth and eighteenth month anniversaries of the date of the grant. The options are valid
for five years.
About Tsodilo Resources Limited
Tsodilo Resources Limited is an international diamond and metals exploration company
engaged in the search for economic diamond, metal deposits and industrial stone at its Bosoto
(Pty) Limited ("Bosoto"), Gcwihaba Resources (Pty) Limited ("Gcwihaba") and Newdico (Pty)
Ltd. ("Newdico) projects in Botswana and its Idada 361 (Pty) Limited ("Idada") proj ect in
Barberton, South Africa. The Company has a 100% stake in Bosoto (Pty) Ltd. which holds the
BK16 kimberlite project in the Orapa Kimberlite Field (OKF) in Botswana and the PL216/2017
diamond prospection license also in the OKF. The Company has a 100% stake in its Gcwihaba
project area consisting of seven metal (base, precious, platinum group, and rare earth)
prospecting licenses all located in the North -West district of Botswana. The Company has a
100% interest in its Newdico industrial stone project located in Botswana’s Central District.
Additionally, Tsodilo has a 70% stake in Idada Trading 361 (Pty) Limited which holds the gold
and silver exploration license in the Barberton area of South Africa. Tsodilo manages the
exploration of the Newdico, Gcwihaba, Bosoto and Idada projects. Overall supervision of the
Company's exploration program is the responsibility of Dr. Alistair Jeffcoate, Project Manager
and Chief Geologist of the Company and a "qualified person" as such term is defined in
National Instrument 43-101.
This press release may contain forward -looking statements. All statements, other than
statements of historical fact, that address activities, events or developments that the Company
believes, expects or anticipates will or may occur in the future (including, without limitation,
statements pertaining to the use of proceeds, the impact of strategic partnerships and
statements that describe the Company's future plans, objectives or goals) are forward-looking
statements. These forward-looking statements reflect the current expectations or beliefs of the
Company based on information currently available to the Company. Forward -looking
statements are subject to a number of risks and uncertainties that may cause the actual results
of the Company to d iffer materially from those discussed in the forward - looking statements,
and even if such actual results are realized or substantially realized, there can be no assurance
that they will have the expected consequences to, or effects on the Company. Factors that could
cause actual results or events to differ materially from current expectations include, among
other things, changes in equity markets, changes in general economic conditions, market
volatility, political developments in Botswana and surrounding countries, changes to
regulations affecting the Company's activities, uncertainties relating to the availability and
costs of financing needed in the future, exploration and development risks, the uncertainties
involved in interpreting exploration results and the other risks involved in the mineral
exploration business. Any forward-looking statement speaks only as of the date on which it is
made and, except as may be required by applicable securities laws, the Company disclaims
any intent or obligation to u pdate any forward-looking statement, whether as a result of new
information, future events or results or otherwise. Although the Company believes that the
assumptions inherent in the forward -looking statements are reasonable, forward -looking
statements are not a guarantee of future performance and accordingly undue reliance should
not be put on such statements due to the inherent uncertainty therein.
Forward-looking statements are subject to a number of risks and uncertainties that may cause
the actual results of the Company to differ materially from those discussed in the forward -
looking statements and, even if such actual results are realized or substantially realized, there
can be no assurance that they will have the expected consequences to, or effects on, the
Company. Factors that could cause actual results or events to differ materially from current
expectations include, among other things, uncert ainties relating to availability and cost of
funds, timing and content of work programs, results of exploration activities, interpretation of
drilling results and other geological data, risks relating to variations in the diamond grade
and kimberlite litho logies; variations in rates of recovery and breakage; estimates of grade
and quality of diamonds, variations in diamond valuations and future diamond prices; the state
of world diamond markets, reliability of mineral property titles, changes to regulations
affecting the Company's activities, delays in obtaining or failure to obtain required project
approvals, operational and infrastructure risk and other risks involved in the diamond
exploration and development business. Any forward -looking statement speaks only as of the
date on which it is made and, except as may be required by applicable securities laws, the
Company disclaims any intent or obligation to update any forward-looking statement, whether
as a result of new information, future events or results or otherwise. Although the Company
believes that the assumptions inherent in the forward -looking statements are reasonable,
forward-looking statements are not a guarantee of future performance and accordingly undue
reliance should not be put on such statements due to their inherent uncertainty.
Neither the TSX Venture Exchange ("TSXV") nor its Regulation Services Provider (as that term
is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of
this news release. This ne ws release may contain assumptions, estimates, and other forward -
looking statements regarding future events. Such forward-looking statements involve inherent
risks and uncertainties and are subject to factors, many of which are beyond the Company's
control, which may cause actual results or performance to differ materially from those
currently anticipated in such statements.
FOR FURTHER INFORMATION PLEASE CONTACT:
James M. Bruchs Chairman and Chief Executive Officer [email protected]
Dr. Alistair Jeffcoate Project Manager and Chief Geologist [email protected]
Head Office Telephone +1 416 572 2033 Facsimile + 1 416 987 4369
Website http://www.TsodiloResources.com