TSODILO RESOURCES LTD - TSDRF STOCK NEWS

Tsodilo Resources Limited (TSX-V:TSD)(OTCQB:TSDRF)(FSE:TZO) awaits the decision in the case of Gcwihaba Resources (Pty) Ltd. vs. Minister of Minerals and Energy and the Attorney General of Botswana, MAHMN-000075-22, to be issued on December 15, 2023, by the High Court, Republic of Botswana.

Tsodilo Resources Limited (TSX VentureExchange:TSD) Announces C$141,380.06 Non-Brokered Private Placement Financing

The High Court of Botswana has issued an order restraining the Minister of Mines and Energy from assessing renewal applications for Prospecting Licenses PL's 021024/2018. This could impact the evaluation and exploration activities of Tsodilo Resources Limited's Xaudum Iron Formation (XIF) project, potentially diminishing its value. The company is seeking relief to re-align the licenses and maintain coherent durations. The litigation documents are available on the company's website.

Namibian Cabinet approves Final Feasibility Study for Trans-Zambezi Railway Extension, benefiting Tsodilo Resources Limited

Tsodilo Resources Limited has provided an update regarding its legal action against the Botswana Ministry of Minerals & Energy (MME) concerning the non-renewal of Prospecting License PL020/2018 for its subsidiary, Gcwihaba Resources. Oral arguments were held in Maun, Botswana, on April 18, 2023, with a written judgment expected on August 1, 2023. This litigation has prompted significant requests for documentation, which Tsodilo has made accessible on dedicated landing pages.

The Xaudum Iron Project, located near the Namibia border, has a defined CIM compliant Inferred Mineral Resource of 441 million tonnes with an average grade of 29.4% Fe. An exploration target suggests a potential of 5 to 7 billion tonnes at 15-40% Fe. The Company plans to focus further exploration on Block 2a to enhance resources.

Tsodilo Resources Limited provided a corporate update regarding its legal action against the Botswana Ministry of Minerals & Energy. The company has updated its litigation landing page with the Respondent's Answering Affidavit filed on February 24, 2023, and its Replying Affidavit and Notice to Produce Documents filed on March 10, 2023. Since filing the complaint on October 31, 2022, Tsodilo has seen a significant demand for litigation-related documents, prompting the establishment of a regularly updated records page. The Xaudum Iron Formation (XIF) project in Botswana contains a CIM compliant Inferred Mineral Resource Estimate of 441 million tonnes at an average grade of 29.4% Fe.

Tsodilo Resources Limited has successfully closed a private placement financing, raising C$500,188.20 on January 25, 2023, by issuing 2,500,941 units at a price of C$0.20 per Unit. Each unit consists of a common share and a warrant, allowing purchase of additional shares for USD $0.20 over 24 months. Funds will advance the Xaudum Iron Formation project in Botswana and support general corporate expenses. A director subscribed for 100,000 Units, classifying this as a related party transaction. The transaction adheres to MI 61-101 exemptions due to its value being under 25% of the company's market capitalization.