TORONTO, ONTARIO - Tsodilo Resources Limited ("Tsodilo" or the "Company") (TSX Venture Exchange: TSD) is pleased to report that the Ministry of Minerals, Energy and Water Resources has granted five (5) new Metals (Base, Precious, Platinum Group Metals and Rare Earth Elements) Prospecting Licenses PL Nos. 093/2012 - 097/2012 to the Company's local, wholly owned operating subsidiary Gcwihaba Resources (Pty) Ltd. ("Gcwihaba"). These license areas are situated in the North-West District of Botswana and combined they comprise 2,810 kmē.
The licenses cover an area now recognized from drilling on adjacent Company licenses to be underlain by rocks equivalent to those in the Zambian Copperbelt that host world class copper deposits. Drilling on the Company's existing licenses has located minor copper and potentially significant iron resources which are the current focus of drilling.
Since 2008, the Company has used its own drilling equipment to explore for diamonds and base metals in northwest Botswana. Over the past three years, the company has collected over 20,000 line kilometers of detailed, high quality (20 -- 50m line spacing) geophysical magnetic data using its three Geometric G-859 Cesium vapor magnetometers and has interpreted and incorporated this data with airborne magnetic and electromagnetic ('VTEM') datasets over the 12,000 kmē license area that it already holds.
Details of the Company's new prospecting license blocks can be viewed on the Company's website at:
" The recent recognition by Tsodilo geologists that the rocks in northwest Botswana are identical to those in the Central African Copperbelt is incredibly exciting in terms of suggesting the area has potential for world class orebodies," commented James M. Bruchs, Chairman and CEO. "These new licenses tie up all the available ground covering these rocks. The Company's license position should provide ideal targets for copper mineralization. The area also contains a previously unrecognized major Rapitan-type iron formation which the company is currently outlining by drilling."
About Tsodilo Resources Limited: Tsodilo Resources Limited is an international diamond and metals exploration company engaged in the search for economic diamond and metal deposits at its Newdico (Pty) Limited ("Newdico") and Gcwihaba Resources (Pty) Limited ("Gcwihaba") projects in northwest Botswana. The Company has a 97% stake in Newdico (3,949 kmē under Precious Stone - Diamond Licenses). The Gcwihaba project area: 3,728 kmē under Precious Stone - Diamond Licenses; 15,906 kmē Metal (Base, Precious, Platinum Group Metals and Rare Earth Elements) Licenses; and, 6,925 kmē under Radioactive Minerals Licenses is 100% held by the Company. Tsodilo manages the exploration of both the Newdico and Gcwihaba license areas. Overall supervision of the Company's exploration program is the responsibility of Dr. Mike de Wit, President and COO of the Company and a "qualified person" as such term is defined in National Instrument 43-101. Dr. de Wit has reviewed the information contained herein and approved the contents of this Press Release.
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.
National Instrument 43-101 - Standards of Disclosure for Mineral Projects, Form 43-101F1 and Companion Policy 43-101CP requires that the following disclosure be made: All references contained herein with respect to the potential quantity and grade derived by any method is at this stage of development conceptual in nature. At the present time, there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource. This press release contains 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 relating to the development of the Company's projects) 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. 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.
The TSX Venture Exchange has not reviewed and does not accept 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.FOR FURTHER INFORMATION PLEASE CONTACT:
James M. Bruchs
Chairman and Chief Executive Officer
Dr. Mike de Wit
President and Chief Operating Officer
Telephone +1 416 572 2033
Facsimile + 1 416 987 4369