Grant of Stock Options
News Release
TSODILO RESOURCES LIMITED
Grant of Stock Options
December 31, 2021 Trading Symbol: TSXV: TSD #123121
TORONTO, CANADA - Tsodilo Resources Limited (TSX Venture Exchange: TSD) ("Tsodilo" or the "Company")
reports that in terms of the Stock Option Plan of the Company and a policy adopted by the board of directors
in September 2002, 425,000 stock options were granted to officers, senior employees and consultants to be
effective January 1, 2022, at CDN $0.64 per common share. These options are valid for five years and vest in
four equal installments on January 1, 2022, July 1, 2022, January 1, 2023 and July 1, 2023.
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 N ewdico (Pty) Ltd. ("Newdico) projects in Botswana. 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 indust rial stone project
located in Botswana’s Central District. Tsodilo manages the exploration of the Newdico, Gcwihaba, and Bosoto
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 t hat 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 differ materially from those discussed in the forward-
looking statements, and even if such actual results are realized or substantially re alized, 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 m arkets,
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 ne eded 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 b elieves 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, results 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
anticipated in such statements.
FOR FURTHER INFORMATION PLEASE CONTACT:
James M. Bruchs
Dr. Alistair Jeffcoate
Head Office
Website
Chairman and Chief Executive Officer
Project Manager and Chief Geologist
Telephone +1 416 572 2033
http://www.TsodiloResources.com
Facsimile + 1 416 987 4369