Annual General Meeting Results
TSODILO RESOURCES LIMITED
ANNUAL GENERAL MEETING RESULTS
September 18, 2020 Trading Symbol: TSXV: TSD #091820
TORONTO, ONTARIO - Tsodilo Resources Limited ("Tsodilo" or the "Company") (TSX
Venture Exchange: TSD) is pleased to announce that at its Annual General Meeting of
shareholders held on September 18, 2020, 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.
Grant of Stock Options
Under the terms of its Stock Option P lan, Tsodilo granted 400,000 options to five directors and
25,000 to an employee at an exercise price of C$ 0.09 per share. These options vest as to 25%
effective September 21, 2020 , 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 and metal deposits at its Newdico (Pty) Ltd. (“Newdico”);
Bosoto (Pty) Limited ("Bosoto"); and, Gcwihaba Resources (Pty) Limited ("Gcwihaba") projects
in Botswana and its Idada 361 (Pty) Limited ("Idada") project 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. 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 project s. 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.
The Company has offices in Toronto, Canada and Gaborone and Maun, Botswana. Please visit the
Company's website, www.TsodiloResources.com, for additional information and background on
our projects.
Cautionary Notice:
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 forwa rd-
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 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 Com pany. 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 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 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, uncertainties relating to availability and cost of funds, timing and content of
work programs, resul ts of exploration activities, interpretation of drilling results and other
geological data, risks relating to variations in the diamond grade and kimberlite lithologies;
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 news 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 antic ipated in
such statements.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy
or accuracy of this news release. This news 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