Tembo Gold Corp. Announces Up to $1.28M Strategic Private Placement

Tembo Gold Corp. (TSX VENTURE:TEM)(FRANKFURT:T23) ("Tembo" or the "Company") is
pleased to announce a proposed strategic financing for the Company. The Company
proposes to complete a non-brokered private placement (the "Financing")
consisting of up to 12,800,000 units (the "Units") at a price per Unit of C$0.10
for total gross proceeds of up to C$1.28 million.


Each Unit will consist of one common share (each a "Share") and one common share
purchase warrant of the Company (each a "Warrant"). Each Warrant will be
exercisable to acquire one Share at a price of $0.12 per Share for a period of
three years from the issuance of the Units.


The investors subscribing for the Units under the Financing will be NAMF II
(Mauritius) Limited as to C$218,400, NAMF II South African Partnership as to
C$61,600 and Concept Capital Management Limited ("CCM") as for up to
C$1,000,000. All of the investors are currently insiders of the Company.


The net proceeds of the Financing will be used by the Company to fund ongoing
exploration costs on its properties in Tanzania and for working capital
purposes. All the securities will be subject to a four month and one day hold
period from the closing date of the Financing. The Financing remains subject to
approval of the TSX Venture Exchange.


About New Africa Mining Fund II

The New Africa Mining Fund II ("NAMF") is a junior mining venture capital fund
which provides capital for early to later stage exploration and mining
development projects in all minerals except diamonds and uranium, throughout
Africa. NAMF adheres to the common standards and investment practices which have
been developed and successfully followed by Private Equity investment firms in
other markets. Such practices include due diligence, strict attention to
corporate governance and sustainable development policies and a disciplined
approach to timely investment realization.


About Concept Capital Management

CCM is a private German based Asset Management Company focused on evaluating and
investing in Canadian resource companies through equity investments, convertible
bonds and gold, silver, and copper off-take agreements.


About Tembo Gold Corp.

Tembo Gold is a Canadian publicly-listed mineral exploration company with a 100%
interest in the Tembo Gold Project which is located adjacent to African
Barrick's Bulyanhulu Gold Mine in the prolific Lake Victoria Greenstone belt in
Tanzania. Tembo's focus is the discovery and development of gold projects in
Africa. The Company's exploration strategy is to discover mineral resources as
well as continue to look for additional opportunities that can bring value to
the Company and shareholders.


On Behalf of the Board of Directors of Tembo,

David Scott, President & CEO

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT
TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.


Cautionary Note Regarding Forward-Looking Statements

Certain information set out in this news release constitutes forward-looking
information. Forward-looking statements are often, but not always, identified by
the use of words such as "seek", "anticipate", "plan", "continue", "estimate",
"expect", "may", "will", "intend", "could", "might", "should", "believe" and
similar expressions. This news release contains forward-looking statements in
respect of certain anticipated goals and expectations in connection with the
Financing, including, without limitation, the use of the net proceeds from the
Financing and the anticipated approval of the TSX Venture Exchange for the
Financing. Forward-looking statements are based upon the opinions and
expectations of management of the Company as at the effective date of such
statements and, in certain cases, information provided or disseminated by third
parties. Although the Company believes that the expectations reflected in such
forward-looking statements are based upon reasonable assumptions, and that
information obtained from third party sources is reliable, they can give no
assurance that those expectations will prove to have been correct. The
forward-looking statements contained herein after provided for the purpose of
providing readers with the Company's expectations and goals in connection with
the Financing, and may not be suitable for other purposes. Readers are cautioned
not to place undue reliance on forward-looking statements.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Tembo Gold Corp.
Marc Cernovitch
Director & VP Business Development
416.619.9010
mcernovitch@tembogold.com
Tembo Gold (TSXV:TEM)
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