Tango Gold Updates Status of Topacio Concession

Further to the Company's news release of December 13, 2013, Tango Gold Mines
Incorporated (TSX VENTURE:TGV) (the "Company") announces the termination of its
option agreement dated 30 April 2010 with Inversiones Mineras, S.A. ("IMISA") to
acquire the Topacio Mining Concession in Nicaragua. The Company has presented a
new offer to IMISA for the immediate purchase of a 100% interest in the Topacio
Concession which, if successful, could potentially enable the Company to secure
financing opportunities to continue with an evaluation, development and
execution plan for the concession. There are no assurances that the Company will
be successful in entering into a new agreement to purchase the Topacio
Concession on the terms presented or at all. 


The Company currently has approximately CAD $1.5 million in cash in its
treasury, no debt, and is evaluating other opportunities that are available for
acquisition.


About Tango Gold Mines Incorporated 

Tango Gold Mines Incorporated is a Canadian company which holds a 100% interest
in the 2,088.8 ha El Santo concession located in central Nicaragua, immediately
to the south of B2Gold Corp.`s La Libertad concession that is host to the La
Libertad mine and mill complex which is expected to produce in excess of 130,000
ounces of gold in 2013. El Santo is believed to host several east-west trending,
low sulphidation, epithermal quartz vein systems similar to those found on the
La Libertad concession.


On Behalf of the Board of Directors

Antonio Ponte, Executive Chairman

Tango Gold Mines Incorporated

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.


This news release contains forward-looking statements, which relate to future
events or future performance and reflect management's current expectations and
assumptions. Forward-looking statements address future events and conditions and
therefore, involve inherent risks and uncertainties. Readers are cautioned that
these forward looking statements are neither promises nor guarantees, and are
subject to risks and uncertainties that may cause future results to differ
materially from those expected. The presence of gold deposits mentioned nearby
the Company's property is not indicative of the gold mineralization on the
Company's property. All of the forward-looking statements made in this news
release are qualified by these cautionary statements and those in our continuous
disclosure filings available on SEDAR at www.sedar.com. These forward-looking
statements are made as of the date hereof and the Company does not assume any
obligation to update or revise them to reflect new events or circumstances save
as required under applicable securities legislation. This news release does not
constitute an offer to sell securities and the Company is not soliciting an
offer to buy securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under the
securities laws of such jurisdiction. The technical disclosure in this news
release have been approved by Terry L. Tucker, P.Geo., Director of the Company
and a Qualified Person as defined by National Instrument 43-101 of the Canadian
Securities Administrators. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Tango Gold Mines Incorporated
antonio.ponte@tangogoldmines.com

Tango Mining (TSXV:TGV)
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