Mr. David Scott reports

TEMBO GOLD CORP. COMPLETES C$844,500 NON-BROKERED TRANCHE OF EQUITY FINANCING

Tembo Gold Corp. has issued 1,689,000 units of the company at a price of 50 cents per unit for aggregate gross proceeds of $844,500 pursuant to its previously announced private placement. The company expects to close a third non-brokered tranche of the offering on or about Nov. 22, 2012.

Each unit consists of one common share of the company and one-half of one common share purchase warrant. Each warrant is exercisable for one common share of the company until May 9, 2014, at an exercise price of 80 cents.

In connection with the offering certain finders received an aggregate commission equal to $55,395 paid out of the gross proceeds of the offering and an aggregate of 110,790 finders' warrants each of which is exercisable to acquire one common share of the company at a price of 50 cents until May 9, 2014.

The securities issued are subject to a hold period expiring March 10, 2013, in accordance with the rules and policies of the TSX Venture Exchange and applicable Canadian securities laws and such further restrictions as may apply under foreign securities laws.

The net proceeds from the offering will be used for the exploration and development of the company's projects in Tanzania and for general working capital purposes. The offering remains subject to the final approval of the TSX Venture Exchange.

We seek Safe Harbor.