Tsodilo Announces Board and Management Changes
News Release
TSODILO RESOURCES LIMITED
Tsodilo Announces Board and Management Changes
January 31, 2019 Trading Symbol: TSXV: TSD #01312019
TORONTO, CANADA - Tsodilo Resources Limited (TSX Venture Exchange: TSD) ("Tsodilo" or the "Company")
wishes to announce that effective today, Dr. Michiel CJ de Wit will be stepping down as Tsodilo’s President
and Chief Operating Officer and from the Board of Directors.
The Board would like to sincerely thank Mike for his many contributions during his tenure and is pleased to further
announce that Dr de Wit has agreed to remain closely associated with the Company in an ongoing role as a technical
advisor.
Dr. de Wit commented, "I have enjoyed working as Tsodilo’s President and COO for almost a decade, during
which time, Tsodilo has establish ed Botswana ’s first and only iron resource which the Company is actively
exploring avenues of exploiting. Alongside this , the Company ha s expanded the Cu, Co, and Au exploration
activities in northwest Botswana and shown this area to exhibit great potential for mineral ization and future
discoveries . The first phase of the BK16 evaluation kimberlite project in the Orapa kimberlite field was
successfully completed and has become an exciting milestone for the Company and is consistent with the
Company’s approach of tackling large projects by doing quality work in an efficient and timely fashion . I
am confident that the Company’s projects will continue to move forward under the direction of Dr. Alistair
Jeffcoate who has worked alongside me for the past 5 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 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 Gcwihaba, Bosoto and Idada 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, witho ut 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 cur rent 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 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 invol ved 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 di ffer 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 infrastruc ture 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 int ent 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 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