TSX Venture Exchange Conditionally Accepts the Listing of the Common Shares of Tembo Gold Corp.

December 22, 2011

/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

TORONTO, Tembo Gold Corp. ("Tembo" or the "Company") is pleased to announce that the TSX Venture Exchange (the "Exchange") has conditionally accepted the listing of the Company's common shares. The listing of the common shares is conditional upon, among other things, the Company filing with the Exchange a satisfactory technical report and a satisfactory listing application in the form prescribed by the Exchange. The Company is proceeding to prepare and revise all required documentation to be filed with the Exchange and the Company will issue a further press release prior to the listing of the common shares on the Exchange.

Forward-Looking Statements

Certain information set out in this news release constitutes forward-looking information. Forward looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "intend", "could", "might", "should", "believe" and similar expressions. In particular, this news release contains forward-looking statements in regards to the Company proceeding to prepare and revise all documentation to be filed with the Exchange and the Company issuing a further press release prior to the listing of the common shares. There can be no assurance that the common shares of the Company will be listed for trading on the Exchange. The forward-looking statements are subject to a number of assumptions, risks and uncertainties, including, among other things, a significant drop in the price of gold, political turmoil in Tanzania and other risk factors set forth in the Company's continuous disclosure. Readers are cautioned that this list of risk factors should not be construed as exhaustive. These statements are made as at the date hereof and unless otherwise required by law, the Company does not intend, or assume any obligation, to update these forward-looking statements.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE

For further information:
Marc Cernovitch
Director
Phone: 416.619.9010
Email: mcernovitch@tembogold.com