TSODILO RESOURCES LTD - TSDRF STOCK NEWS

Tsodilo Resources Limited (TSX Venture Exchange: TSD) announced a non-brokered private placement of 2,200,941 units at CDN $0.20 per unit, raising CDN $440,188.20. Proceeds will support the advancement of the Xaudum Iron Formation project in Botswana and general corporate purposes. Each unit includes one common share and one purchase warrant, valid for 24 months at an exercise price of USD $0.20. A director subscribed for 100,000 units, qualifying as a related party transaction, exempt from minority shareholder approval under MI 61-101. Closing is subject to TSX Venture Exchange approval.

Tsodilo Resources Limited (TSDRF) announced the grant of 650,000 stock options under its option plan, effective January 1, 2023, at a price of CDN $0.20 per share. These options will vest in four equal installments on Jan 1, 2023, July 1, 2023, Jan 1, 2024, and July 1, 2024, with a validity of five years. The company is focused on exploring diamond and metal deposits in Botswana, holding a full stake in both the BK16 kimberlite project and five prospecting licenses in the region.

Tsodilo Resources Limited (TSX-V:TSD)(OTCQB:TSDRF) announced an extension of the expiry dates for 2,804,055 common share purchase warrants, subject to TSX-V approval. Originally set to expire on January 25 and February 10, 2023, the new expiry dates are July 25, 2023, and August 23, 2023, respectively. The warrants were part of a public offering that closed on February 10, 2023, where the company issued 2,986,038 units at C$0.50 each, each consisting of one common share and one warrant exercisable at USD$0.55.

Tsodilo Resources Limited has provided an update regarding its legal action against the Botswana Ministry of Minerals and Energy (MME), originally filed on October 31, 2022. The company is responding to increased requests for related documentation by creating a dedicated landing page for transparency. The Xaudum Iron Formation project in Botswana has defined a CIM compliant Inferred Mineral Resource Estimate of 441 million tonnes with an average grade of 29.4% Fe. Further exploration is planned for Block 2a, expecting an increase in resources.

Tsodilo Resources Limited has announced a corporate update regarding its exploration projects in Botswana, particularly the Xaudum Iron Formation project. The company submitted five prospecting license renewals on June 30, 2021, with four approved as of January 1, 2022. However, the renewal of license PL020/2018 has faced delays due to its location within a UNESCO buffer zone. Tsodilo initiated litigation on October 31, 2022, after receiving notice that exploration in the buffer zone would not be renewed. The company's resource estimate for this project is 441 million tonnes grading 29.4% Fe.

Tsodilo Resources Limited has provided an update on its exploration projects in Botswana, specifically regarding its Xaudum Iron Formation project. The company experienced delays in the renewal of a prospecting license due to environmental concerns related to the Okavango Delta UNESCO site. Despite previous approvals, the Botswana government is now refusing renewal for areas in the buffer zone. As a result, Tsodilo initiated litigation on October 31, 2022, to resolve the matter and protect shareholder interests. The Xaudum project holds a significant 441 million tonnes inferred resource at 29.4% iron.

Tsodilo Resources Limited held its Annual Meeting on June 30, 2022, where directors James M. Bruchs, Thomas S. Bruington, Jonathan R. Kelafant, Blackie Marole, and Mark Scowcroft were elected. Shareholders also appointed Crowe MacKay LLP as auditors. Additionally, the company granted 1,000,000 stock options to directors, employees, and an advisor, with an exercise price of CDN$ 0.29, vesting in increments over 18 months. Tsodilo focuses on diamond and metals exploration in Botswana, holding key projects like Bosoto, Gcwihaba, and Newdico.

Tsodilo Resources Limited (TSDRF) announced on May 4, 2022, that its request for a Management Cease Trade Order was denied by the Ontario Securities Commission due to insufficient market activity in Canada. The company had anticipated delays in filing its financial statements for the year ended December 31, 2021, originally due by May 2, 2022, mainly impacted by the COVID pandemic and license confirmations in Botswana. Tsodilo plans to complete and file these statements by May 31, 2022, and will provide bi-weekly updates until then.

Tsodilo Resources Limited has completed the Final Feasibility Study for the Trans-Zambezi Railway Extension from Grootfontein to Katima Mulilo, enhancing access to mining regions. This project, backed by the Government of Namibia and the African Development Bank, aims to link mining operations with the railway network, improving mineral transportation across southern Africa. The study concluded that the 772 km railway extension is technically and financially viable, promising increased logistics for Tsodilo's Xaudum Iron Formation project.