2/28/2024 0 Comments Tembo goldOn Behalf of the Board of Directors of Tembo,ĭavid Scott President & CEOPhone: +255 767 366 146Įmail: more information, please contact:Įmail: THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.Ĭautionary Statement Regarding Forward-Looking Information Taifa Mining is Tanzania's largest mining contractor with over 30 years mining related experience and will carry out all the contract mining and civil works for Tembo's projects. Taifa, a diverse group of companies with interests in mining, telecom, oil/gas, agribusiness, pharmaceuticals and leather, has taken a significant equity stake in Tembo through its wholly owned Tanzanian subsidiary, Taifa Mining. Notably, the company is grateful for the validation that comes with the support and equity investment from Barrick Gold and recent strategic partnership with Taifa Group, owned by Tanzanian tycoon Rostam Aziz. Tembo has assembled a highly experienced team with a track record of developing, financing and operating mining projects in Africa with management, directors and partners owning more than 60% of the shares. The Imwelo and Dora projects, located approximately 12 km from AngloGold Ashanti's flagship Geita Gold Mine, both have potential for significant resource growth. The company recently announced the acquisition of two deposits (see press releases on August 10th, 2023 & August 29th,2023) that support our objective of accretive growth and consolidation. The company has a 100% interest in the Tembo project which has over 50 thousand meters of drilling and is located adjacent to Barrick's 20Moz Bulyanhulu Mine. Leveraging our unique position and experience, the company is principally focused on growth and consolidation in the highly prolific and prospective Lake Victoria Goldfield in Tanzania. The Company continues to work to close the first tranche of the equity private placement and initial funding has been received.Ībout Tembo Tembo Gold is a rapidly growing gold exploration and development company listed on the TSX Venture Exchange under the symbol TEM. The Company continues to work to obtain the required regulatory approvals in Tanzania to complete the acquisition of the Imwelo property. (TSXV: TEM) ("Tembo", or the "Company") - is pleased to provide this update to its news release dated August 10th, 2023 regarding the acquisition of the Imwelo Gold Project (the "Project") in Tanzania, and the C$11,520,000 financing with Taifa Group ("Taifa"). Vancouver, British Columbia-( Newsfile Corp.
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