Mr. James Bruchs reports

TSODILO RESOURCES LIMITED CLOSES PRIVATE PLACEMENT FINANCING FOR UNITS

Tsodilo Resources Ltd. closed a non-brokered private placement financing for gross proceeds to the company of $141,380.06 on Nov. 16, 2023, through the issuance of 706,903 units of securities of the company at a subscription price of 20 cents per unit.

Each unit comprises one common share in the capital of the company and one common share purchase warrant of the company. Each warrant entitles the holder thereof to purchase one common share for a period of 24 months from the date of issuance at an exercise price of 20 U.S. cents. The common shares (including the common shares underlying the warrants) and the warrants comprising the units are subject to a statutory four-month-and-one-day hold period, which expires on March 17, 2024.

The proceeds from this financing will be used for the advancement of the Xaudum iron formation project in Botswana and for general corporate purposes and working capital.

About Tsodilo Resources Ltd.

Tsodilo Resources is an international resource exploration company engaged in the search for economic metal and diamond deposits at its Gcwihaba Resources Pty. Ltd. and Bosoto Pty. Ltd. projects in Botswana. The company has a 100-per-cent stake in its Gcwihaba project area consisting of five metal (base, precious, platinum group and rare earth) prospecting licences all located in the North-West district of Botswana. The company has a 100-per-cent stake in Bosoto which holds the BK16 kimberlite project in the Orapa kimberlite field (OKF) in Botswana. Tsodilo manages the exploration of the Gcwihaba and Bosoto projects.

We seek Safe Harbor.