Mr. James Bruchs reports

TSODILO RESOURCES LIMITED ANNOUNCES APPOINTMENT OF DIRECTOR

Tsodilo Resources Ltd. has appointed Mosimanegape (Gape) Mogegeh as a member of its board of directors, effective Feb. 10, 2025, and subject to TSX Venture Exchange approval. Mr. Mogegeh will also be joining the boards of Tsodilo's Botswanan subsidiaries, Newdico Pty. Ltd., Gcwihaba Resources Pty. Ltd. and Bosoto Pty. Ltd.

Mr. Mogegeh has over 20 years of experience in the financial services industry, specifically in the asset management, private equity, structured finance, and corporate finance and advisory fields. He holds a bachelor of accounting degree from the University of Botswana and has attended a number of private equity courses offered by Southern Africa Venture Capital and Private Equity Association (SAVCA), the African Private Capital Association (AVCA), European Venture Capital Association (EVCA, now Invest Europe), and the National Venture Capital Association (NVCA), and merger and acquisition (M&A) studies at the Amsterdam Institute of Finance (AIF). Mr. Mogegeh has garnered years of experience in transaction structuring, financial analysis and modelling, valuations and portfolio management and founded and established the operations of one of the leading private equity fund management companies in the Botswana market. This involved the establishment of a commandite partnership with commitments in excess of 540 million Botswana pula for the Botswana and Southern Africa regional market.

Previously, Mr. Mogegeh worked for the Botswana Development Corp. (BDC) as investment principal, playing a key role in the transformation agenda for the business, which resulted in a major rebalancing of the company's investment portfolio. Before BDC, Mr. Mogegeh worked for Deloitte Botswana as a senior manager in corporate finance, overseeing the in-country delivery of corporate finance and advisory services (M&A advisory, due diligence reviews, valuations, debt and equity capital raisings, listings, and other services). Mr. Mogegeh has also worked at Inflection Capital Partners (private equity firm -- JHB and RSA) as an investment officer and at BIFM Capital as an investment professional. Prior to joining BIFM Capital, Mr. Mogegeh was with the first dedicated venture capital fund manager in Botswana -- VPB.

In his current role as executive director at Catapult Advisors, Mr. Mogegeh has completed a number of corporate finance and advisory assignments in the mining space, including capital raising and structuring for a local consortium and as a subcontractor constructing a business model validation for a large mining services company; development of a commercialization and optimization strategy for subsidiaries of one of the largest mining companies in Botswana; and, separately, a diversity and inclusion study for the same company.

Tsodilo's chairman and chief executive officer, James M. Bruchs, stated, "Gape will bring immense value to the board, and we are looking forward to drawing from his experience as we take the company and its subsidiaries to the next growth phase."

With respect to the terms of the stock option plan of the company, and a policy adopted by the board of directors in September, 2002, 200,000 stock options were granted to Mr. Mogegeh to be effective on Feb. 10, 2025, at 16 cents per common share. These options are valid for five years and vest in four equal instalments on Feb. 10, 2025, Aug. 10, 2025, Feb. 10, 2026, and Aug. 10, 2026.

About Tsodilo Resources Ltd.

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

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