Tsodilo Resources Limited Announces Non-Brokered Private Placement of Units

Toronto, Ontario (FSCwire) - Tsodilo Resources Ltd. ("Tsodilo” or the “Company") (TSX- Venture Exchange: (TSD)) is pleased to announce that it has negotiated a non-brokered private placement of 10,795,578 units of the Company (the "Units") at a price per Unit of CDN $0.75, which will provide gross proceeds to the Company in the amount of up to CDN $8,096,683. Proceeds from the private placement will be used by Tsodilo for advancement of the BK16 kimberlite project in Botswana and for general corporate working capital.

Each Unit will consist of one common share and one common share purchase warrant of the Company, each such warrant entitling the holder to purchase an additional common share of the Company for a period of two years from the date of closing at a price of USD $0.75.

The common shares and the warrants comprising the Units and the common shares underlying the warrants will be subject to a four month hold period from the date of closing per applicable regulatory requirements. 

In connection with the private placement, certain arm’s length parties may receive a cash finder’s fee payment equal to 5% of the gross proceeds of the Units that are sold to subscribers introduced by such parties.

Directors of the Company have subscribed for 1,931,140 Units (CDN $1,448,355) of the placement. Closing of the private placement remains subject to the approval of the TSX Venture Exchange.

About Tsodilo Resources Limited: Tsodilo Resources Ltd. 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 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 and eight (8) radioactive mineral 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.

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 potential subscribers to the private placement, the payment of a finder’s fee, the closing of the private placement and the Company’s ability to obtain necessary approval from the TSX Venture Exchange) 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. These current expectations or beliefs include the ability of the Company to obtain final approval of the proposed private placement from the TSX Venture Exchange and the intended use of proceeds remaining in the best interests of 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, 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, 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 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 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.

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