Mr. David Scott reports

TEMBO GOLD PRESIDENT'S STATEMENT

Tembo Gold Corp. president and chief executive officer David Scott says, "It is with great pleasure that I formally announce the listing of Tembo Gold Corp. on the TSX Venture Exchange."

The value of Tembo's cornerstone asset, the Tembo property, given its proximity and shared geology with African Barrick Gold's Bulyanhulu mine (having a total resource of about 20 million ounces), was recognized immediately. In order to follow up on very promising historical exploration results, and more importantly the remobilization of exploration crews on the ground, three private placements were completed in 2011, raising a total of $17-million.

Early on it was acknowledged that having the right management and technical teams in place would be vital to success; consequently, a strong internationally experienced board of directors was put in place, led by David Anthony as chairman and David Scott as president and chief executive officer, both of whom had been senior managers at Bulyanhulu with a combined 22 years of on-the-ground Tanzanian experience.

The first priority for Tembo was the collation, reprocessing and reinterpretation of all earlier data: airborne magnetics, soil geochemistry, pitting, rotary air blast/air core, reverse circulation and diamond drilling. While this was under way, initial follow-up reconnaissance mapping was initiated and a LIDAR survey was contracted to provide a better understanding and definition of the extent of artisanal mining activity within the property boundary.

To support the company's own technical team, priority was given to the recruitment of an experienced and trustworthy exploration contractor which could immediately deploy crews on the ground. Due to its exceptional record, the Mineral Corp. (Mincorp) was selected to provide the geological personnel and expertise for the project, including database management.

RC and diamond drilling programs conducted prior to 2009 returned excellent results, confirming the presence of high-grade, potentially economic mineralization. These results confirmed the presence of gold in many northwest-trending structures which correspond to magnetic lineaments. It is clear that the geology of the adjacent Bulyanhulu mining licence continues to the northwest into the Tembo project area and is associated with abundant evidence of gold mineralization.

The outputs of the LIDAR survey, a high-resolution colour orthophotographic image and an extremely accurate digital elevation model reveal the full extent of the artisanal mining on the Tembo project. Comparisons with earlier data clearly demonstrate a close spatial relationship between gold in soils and surface regolith, linear magnetic structures and extensive artisanal mining. The hard rock mining activity is no less than 11 kilometres in extent and is present along approximately 10 per cent of the potential target structures identified by the magnetic lineaments. Most importantly it was noted that the artisanal activity was focused not only along these, but also along northeast- and east-west-trending structures.

The restrictions inherent in the largely covered nature of the terrain, up to 10 metres in places, dictate drilling as the primary exploration tool to test those structures currently and historically mined, as well as their extensions and the many unmined and untested subparallel and conjugate structures.

The confidence generated by the data review and LIDAR interpretation has provided the motivation for an aggressive drilling program for the 2012 exploration year. A combined 90,000 m reverse circulation and diamond drilling program on seven primary targets is planned. Drilling is currently under way. Two diamond rigs and one RC rig have been deployed. Further additions will be considered as necessary and as results dictate.

The company is confident that it is targeting mineralization from the outset and anticipates conducting orebody modelling and gold deportment studies at key milestones throughout the year. It is with great anticipation that it launches into this drill program and it looks forward to providing further updates at regular intervals in the coming months detailing its progress.

Above all, Tembo's focus is to deliver the growth its shareholders expect by advancing its Tanzanian assets, building partnerships, and continuing to recognize business opportunities that can add and increase value for its shareholders.

"I want to personally thank all of our shareholders for their continued support. Tembo's success is a reflection of the dedication, hard work and commitment of our management and employees, board of directors, and financing partners," said David Scott, president and chief executive officer.

We seek Safe Harbor.