Tembo Gold Corp. (TSX VENTURE:TEM)(FRANKFURT:T23) ("Tembo" or the "Company") is
pleased to announce that it has issued 59,488,901 units (the "Units") of the
Company at a price of C$0.10 per Unit for aggregate gross proceeds of
C$5,948,890.10 pursuant to its previously announced private placement (the
"Offering") in the news release dated November 15, 2013. The Company expects to
close a second non-brokered tranche of the Offering towards the middle of
December 2013. Each Unit consists of one common share of the Company and one
common share purchase warrant (a "Warrant"). Each Warrant is exercisable for one
common share of the Company until December 2, 2016 at an exercise price of
C$0.12. 


As previously indicated, the main investors who subscribed for Units under the
Offering were NAMF II (Mauritius) Limited as to C$1,941,750, NAMF II South
Africa Partnership as to C$558,250, Stratex Gold A.G. as to C$1,750,000 and
Concept Capital Management Limited as to C$1,000,000 (collectively, the
"Investor Group"). As a result of the Offering the members of the Investor Group
have become insiders of the Company and the Offering has resulted in a change of
control for which the Company has obtained the written consent of shareholders
holding over 50% of its issued and outstanding common shares in accordance with
the policies of the TSX Venture Exchange.


David Scott, President and CEO of Tembo, states, "Tembo has secured financing at
a difficult time for exploration juniors. We believe that this achievement
reflects the quality of the Tembo project, the favorable mining investment
climate of Tanzania where we operate, and our team of professionals who have
brought the company to where we now are. The partnerships being created through
this financing with NAMF and Stratex will ensure that the project receives the
additional technical and scientific attention it deserves, and with the
long-term financial backing of the entire Investor Group, as warranted by
results, we look forward to realizing the value of the project for our loyal
shareholders."


The securities issued are subject to a hold period expiring April 3, 2014 in
accordance with the rules and policies of the TSX Venture Exchange and
applicable Canadian securities laws and such further restrictions as may apply
under foreign securities laws. 


The net proceeds of the Offering will be used by the Company to fund ongoing
exploration costs on its properties in Tanzania and for working capital
purposes. The Offering remains subject to the final approval of the TSX Venture
Exchange.


About Tembo Gold Corp.

Tembo is a Canadian publicly listed mineral exploration company with a 100%
interest in the Tembo Gold Project which is located adjacent to African
Barrick's Bulyanhulu Gold Mine in the prolific Lake Victoria Greenstone belt in
Tanzania. Tembo's focus is the discovery and development of gold projects in
Africa. The Company's exploration strategy is to discover mineral resources as
well as continue to look for additional opportunities that can bring value to
the Company and shareholders. 


On Behalf of the Board of Directors of Tembo, 

David Scott, President & CEO 

NEITHER 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


Forward-Looking Statements

Certain information set out in this news release constitutes forward-looking
information. Forward looking statements are often, but not always, identified by
the use of words such as "seek", "anticipate; "plan", "continue; "estimate;
"expect", "may, "will", "intend", "could", "might", "should", "believe" and
similar expressions. In particular, this news release contains forward-looking
statements in respect of the use of the net proceeds from the Offering, the
completion and timing of additional closings of a non-brokered tranche of the
Offering and listing of the common shares of the Company issuable under the
Offering on the TSX Venture Exchange. Forward-looking statements are based upon
the opinions and expectations of management of the Company as at the effective
date of such statements and, in certain cases, information provided or
disseminated by third parties. Although the Company believes that the
expectations reflected in such forward-looking statements are based upon
reasonable assumptions, and that information obtained from third party sources
is reliable, they can give no assurance that those expectations will prove to
have been correct. Readers are cautioned not to place undue reliance on
forward-looking statements. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Tembo Gold Corp.
Marc Cernovitch
Director & VP Business Development
416.619.9010
mcernovitch@tembogold.com
www.tembogold.com

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