TSODILO RESOURCES LTD - TSDRF STOCK NEWS

Tsodilo Resources Limited has announced positive geotechnical lab test results for its Xaudum Iron Project in Botswana. The initial tests show that the Xaudum Iron Formation (XIF) materials possess good to moderate strength properties, which are crucial for safe mining operations. The Unconfined Compressive Strength tests indicated a very strong classification for the Fresh Banded Magnetite formation with an average UCS of 132.7 MPa. The results will support the ongoing Preliminary Economic Assessment (PEA) and confirm that there will be no geotechnical issues arising from the XIF materials.

Tsodilo Resources Limited (TSDRF) announced progress on its Xaudum Iron Formation (XIF) project, revealing significant findings from the Block 2a drilling program. The results from 10 drill holes indicate that Block 2a, located 10 kilometers south of Block 1, contains magnetite-rich mineralization similar to that of Block 1. Average iron grades in Block 2a include 35.6% Fe for Banded Magnetite and 25.1% Fe for Magnetite Diamictite. This is expected to substantially increase the resource tonnage of the XIF project, building on the current Inferred Mineral Resource Estimate of 441 million tonnes at Block 1.

Tsodilo Resources Limited has joined the Walvis Bay Corridor Group (WBCG), a strategic partnership aimed at promoting trade and infrastructure development in Namibia. WBCG enhances cargo access to the Port of Walvis Bay and Lüderitz, with vital transport corridors connecting landlocked countries to international markets. The Walvis Bay-Ndola-Lubumbashi Development Corridor is significant for Tsodilo, facilitating transportation of iron products. A feasibility study for a new railway extension, crucial for their Xaudum Iron Project, is expected to be completed by the end of 2021.

Tsodilo Resources Limited (OTCQB:TSDRF) announced a collaboration with the Botswana International University of Science and Technology and Morupule Coal Mine to study the production of Pellet Feed and Direct Reduced Iron (DRI) from the Xaudum Iron Project. This initiative aims to support low-emission steel production due to rising demand for high-grade magnetite, which contains over 67% iron, placing it among the top producers globally. The project could enhance Botswana's economy by increasing revenue and employment opportunities while addressing growing carbon reduction targets in the steel industry.

Tsodilo Resources Limited has received a two-year renewal for Prospection License 369/2014 from Botswana's Ministry of Mineral Resources, enabling further evaluation of the BK16 kimberlite project. Located in the Orapa Kimberlite Field, BK16 contains valuable Type IIa diamonds. Recent findings indicated a range of diamond values from $281 to $792 per carat. The upcoming Phase II program will extract 20,000 tonnes of kimberlite, targeting 800 to 1,600 carats of diamonds, to enhance economic viability and resource estimation.

Tsodilo Resources Limited (TSDRF) held its Annual and Special Meeting on May 20, 2021, where shareholders elected five directors and appointed Crowe MacKay LLP as auditors. The meeting also approved increasing the shares reserved under the Stock Option Plan to 9,830,420, ensuring 20% equity stake. The Company granted options for 650,000 common shares at CDN$ 0.75, vesting over five years. Tsodilo is focused on diamond and metals exploration in Botswana and South Africa, managing several key projects with a 100% ownership in multiple licenses.

Tsodilo Resources Limited has announced the initiation of a Preliminary Economic Assessment (PEA) for its Xaudum Iron Project in Botswana, amidst a significant rise in global iron ore prices, which surged by 74% in 2020 to nearly US$180/t. The project boasts a high-grade magnetite concentrate expected to yield about 67% Fe, poised to benefit from strong market demands for cleaner, premium iron ores. The estimated resource stands at 441 million tonnes at an average grade of 29.4% Fe, with potential exploration targets suggesting further resource expansion.

Tsodilo Resources Limited has announced its approval to trade on the OTCQB Venture Market under the symbol TSDRF, effective March 4, 2021. This listing provides Canadian companies with easier access to U.S. investors with lower costs and increased transparency. The OTCQB facilitates enhanced liquidity and fair valuations by providing essential financial information to potential U.S. investors. Tsodilo aims to broaden its shareholder base, capitalizing on growing investor interest in mineral resources as the economy recovers from the COVID-19 pandemic.