Mr. Terry Tucker reports

TANGO MINING LIMITED PROVIDES FURTHER STATUS REPORT

Further to Tango Mining Ltd.'s news release dated Dec. 30, 2015, and subsequent news releases dated Jan. 12, 2016, and Jan. 26, 2016, the British Columbia Securities Commission, the company's principal regulator, on on Dec. 30, 2015, issued a management cease trade order against the company's chief executive officer and chief financial officer as opposed to a general cease trade order against the company. The management cease trade order prohibits trading in securities of the company, either directly or indirectly, by these individuals.

As disclosed in the company's news release dated Dec. 30, 2015, this action was expected due to the fact that the corporation was unable to file its annual financial statements, management discussion and analysis, and related chief executive officer and chief financial officer certificates for its fiscal year ended Aug. 31, 2015, before the Dec. 29, 2015, filing deadline.

Pursuant to the requirements of Section 4.4 of National Policy 12-203, Alternative Information Guidelines, the company reports the following:

1. There have been no material changes to the information contained in the default notice, and the company expects to file the required filings on or before Feb. 29, 2016.
2. There have been no failures with respect to the company fulfilling its stated intention of satisfying the requirements of filing the required filings.
3. There has not been, nor is there anticipated to be, any specified default subsequent to the default which is the subject of the default notice.
4. There is no other material information about the affairs of the company that has not otherwise been reported.

The company confirms that it intends to satisfy the provisions of the alternative information guidelines so long as it remains in default of this filing requirement, being the provision of biweekly updates by way of news release.