TORONTO, ON / ACCESSWIRE / January 31, 2019 / Tsodilo Resources Limited (TSX Venture Exchange: TSD) ("Tsodilo"
or the "Company") wishes to announce that effective today, Dr. Michiel CJ de Wit will be stepping down as Tsodilo's President and
Chief Operating Officer and from the Board of Directors.
The Board would like to sincerely thank Mike for his many contributions during his tenure and is pleased to further announce
that Dr de Wit has agreed to remain closely associated with the Company in an ongoing role as a technical advisor.
Dr. de Wit commented, "I have enjoyed working as Tsodilo's President and COO for almost a decade, during which time, Tsodilo has
established Botswana's first and only iron resource which the Company is actively exploring avenues of exploiting. Alongside this,
the Company has expanded the Cu, Co, and Au exploration activities in northwest Botswana and shown this area to exhibit great
potential for mineralization and future discoveries. The first phase of the BK16 evaluation kimberlite project in the Orapa
kimberlite field was successfully completed and has become an exciting milestone for the Company and is consistent with the
Company's approach of tackling large projects by doing quality work in an efficient and timely fashion. I am confident that the
Company's projects will continue to move forward under the direction of Dr. Alistair Jeffcoate who has worked alongside me for the
past 5 years".
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 Bosoto (Pty) Limited ("Bosoto") and Gcwihaba Resources (Pty) Limited ("Gcwihaba") projects in Botswana
and its Idada 361 (Pty) Limited ("Idada") project in Barberton, South Africa. The Company has a 100% stake in Bosoto (Pty) Ltd.
which holds the BK16 kimberlite project in the Orapa Kimberlite Field (OKF) in Botswana and the PL216/2017 diamond prospection
license also in the OKF. The Company has a 100% stake in its Gcwihaba project area consisting of seven metal (base, precious,
platinum group, and rare earth) prospecting licenses all located in the North-West district of Botswana. Additionally, Tsodilo has
a 70% stake in Idada Trading 361 (Pty) Limited which holds the gold and silver exploration license in the Barberton area of South
Africa. Tsodilo manages the exploration of the Gcwihaba, Bosoto and Idada projects.
This press release may contain 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 pertaining to the use of proceeds, the impact of strategic partnerships and statements
that describe the Company's future plans, objectives or goals) 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,
changes in general economic conditions, market volatility, 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, exploration and development risks, 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 a
guarantee of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty
therein.
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,
uncertainties relating to availability and cost of funds, timing and content of work programs, results of exploration activities,
interpretation of drilling results and other geological data, risks relating to variations in the diamond grade and kimberlite
lithologies; variations in rates of recovery and breakage; estimates of grade and quality of diamonds, variations in diamond
valuations and future diamond prices; the state of world diamond markets, reliability of mineral property titles, changes to
regulations affecting the Company's activities, delays in obtaining or failure to obtain required project approvals, operational
and infrastructure risk and other risks involved in the diamond exploration and development 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 a guarantee of future performance and accordingly undue reliance should not be put on such
statements due to their inherent uncertainty.
Neither the TSX Venture Exchange (“TSXV") nor its Regulation Services Provider (as that term is defined in the policies of
the TSXV) accepts 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:
SOURCE: Tsodilo Resources Limited