Awarded Key Diamond Exploration License IN the Orapa Kimberlite Field (Botswana)
TSODILO RESOURCES LIMITED
AWARDED KEY DIAMOND EXPLORATION LICENSE
IN THE ORAPA KIMBERLITE FIELD (BOTSWANA)
FOR IMMEDIATE RELEASE May 25, 2017
TORONTO, ONTARIO - Tsodilo Resources Limited ( "Tsodilo" or the "Company") (TSX -
Venture Exchange: (TSD) is pleased to announce that its Botswana subsidiary, Bosoto (Pty) Ltd.,
has been granted prospecting license PL217/2016 in the Orapa Kimberlite Field ("OKF") in
Botswana.
PL217/2016 is located within the OKF in Botswana. The diamond mines in Botswana have
produced an average of 27 million carats annually in the last 10 years and Botswana is the
world’s largest producer of diamonds by value. In 2016, the OKF area produced 8.85 million
carats. Of the 83 known kimberlite bodies in the OKF , eleven have been or are currently being
mined. These are AK 01 with AK02 and AK07 (Orapa, Debswana), AK 06 (Karowe, Lucara
Diamond Corporation), BK 01, BK 09, BK12 and BK15 ( Damtshaa, Debswana) , DK01 and
DK02 (Letlhakane, Debswana) and BK11 (Firestone Diamonds). The Karowe mine has
produced such notable diamonds as the 1,109 carat `Lesedi La Rona` and the 813 carat
`Constellation`.
The license was granted on May 23, 2017 and has an initial effective date of January 1, 201 7
expiring December 31, 2019 . The license area covers 580 km 2 and lies south of the Orapa and
Damtshaa mines; west of the Letlhakane mine ; approximately 20 km from the Company’s
diamondiferous BK16 kimberlite pipe; and, it i s adjacent or proximate in all directions to the
Karowe mine (Lucara Diamond Corp) see, license area map at;
http://www.tsodiloresources.com/i/maps/PL217_2016.jpg .
There are several known kimberlite bodies immediately adjacent to the north and east of the
license block and a n exploration program has been design to explore for yet to be discovered
bodies. In addition to the kimberlite exploration, the Company will focus on the alluvial
potential of this ground as much of it occurs downstream of the diamond mines at AK06 and
BK11. A detailed geomorphological analysis will be conducted paying particular attention to the
paleo-drainage development of the region s ince the Cretaceous when the OKF was emplaced.
The Company believes that although denudation of the area has been limited, erosion has
removed sufficient material from of the top of the kimberlites to release enough diamonds to
form alluvial diamond placers close to the pipes.
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 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 Kimberli te Field in Botswana. The Company has a 100% stake in its
Gcwihaba project area consisting of twenty -one (21) metal (base, precious, platinum group, and
rare earth) prospecting licenses 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
Gcwihaba, Bosoto and Idada projects. Overall supervision of the Company's e xploration
program is the responsibility of Dr. Mike de Wit, President and COO 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.
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 o n
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, an d 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, 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 r esults or otherwise. Although the Company believes that the assumptions inherent in
the forward -looking statements are reasonable, forward -looking statements are not guarantees of future
performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty
therein.
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 releas e. 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. Mike de Wit President and Chief Operating Officer [email protected]
Head Office Telephone +1 416 572 2033 Facsimile + 1 416 987 4369
Website http://www.TsodiloResources.com