Tembo Reports Additional Drill Results From the Ngula 1 Target Including 5.09g/t Over 2.77m From 285.42m Including 11.70g/t Au Over 0.98m

September 26, 2012

TORONTO, ONTARIO -- Tembo Gold Corp. (TSX VENTURE:TEM) (FRANKFURT:T23) (OTCQX:TBGPF) ("Tembo" or the "Company") is pleased to report additional results from its 2012 preliminary drill program at the Ngula 1 target on the Tembo Project in the Lake Victoria goldfield of Tanzania. Drilling to date at the Ngula 1 target has encountered multiple zones of gold mineralization across a 600m strike length within a 200m wide structural package and these new drill results further validate the presence of robust gold mineralization at the Ngula 1 target.

Highlights of the latest drill results include:

  • All diamond drill results have encountered significant gold mineralization

  • TDD0106: 5.09g/t over 2.77m from 285.42m including 11.70g/t Au over 0.98m

  • TRC00110: 4.22g/t Au over 5.00m from 195.00m, including 8.38g/t Au over 2.00m;

  • TRC0125: 19.03g/t Au over 0.94m from 35.16m and 5.90g/t over 1.14m from 208.00m

Tembo Gold President & CEO, David Scott stated, "The Ngula 1 target results are consistently intersecting strong structures with gold mineralization both under artisanal workings and along strike of these workings. This shows that although artisanal mining reveals areas of gold mineralization, there is mineralization along extensions to these structures and additional sub-parallel and crosscutting structures that are not being exploited. This supports our strategy to explore beyond artisanal mining targeting structures using magnetic lineaments as a guide. These new drill holes have again encountered significant high grade gold mineralization across multiples structures. We are very pleased with drilling to date as all diamond drill holes at Ngula 1 have encountered gold mineralization across a strike of more than 600m."

Drill Program

The Ngula 1 target consists of at least two dominant sub-parallel, near vertical, anastomosing east-west shear zones within a tightly folded, near vertical package of mafic meta-volcanics (intercalated meta-sedimentary horizons defining the northern and southern limits) with a defined strike of 600m and a width of 200m. These primary shears are frequently associated with pyrrhotite, chalcopyrite and pyrite mineralization hosting variable gold content. High grade gold mineralization is considered to occur where less prominent secondary structures (northeast and possibly northwest trending) intersect the primary east-west shear zones, providing a suitable locus for gold deposition. The meta-sedimentary "marker" horizons are similar to, and may be, the strike extent of the unit that hosts the Bulyhanhulu deposit 7km to the southeast.

Drilling has been conducted from the south and the north to optimize intersections within the package as a whole. Seven additional diamond drill holes have been drilled at -60° to the north and south targeting vertical depths of between 100m and 200m on the primary east-west structures. Five of the holes were drilled on 100m spaced section lines along a 500m strike length while two in-fill holes were drilled on 50m section lines.

As anticipated, the recent drill program has intersected new gold-bearing structures which were not evident from artisanal workings. Further investigation of these new structures is currently underway, as despite containing lower sulphide content at these stratigraphic horizons they typically display similar characteristics to better-mineralized structures, strongly suggesting that they could potentially be higher-grade elsewhere along strike or down dip.

A further five in-fill holes are planned to increase the density of drilling in the main mineralized zone. Ongoing detailed structural and geological interpretation of the meta-volcanic stratigraphy and structures is in progress to obtain a better understanding of the controls on the distribution of mineralization (particularly the higher gold grades) and to thus correlate the intersections to enable follow-up drill hole planning, and subsequent modeling and resource evaluation of the deposit.

Table 1: Tembo Project, Ngula 1 Target, New Drill Results as of September 12, 2012
Width (m) Au g/t Width (m) Au g/t
BH ID From To Width (m) Au g/t >0.50g/t Cutoff >2.00g/t Cutoff
TDD0014 85.15 85.50 0.35 0.28
85.50 86.00 0.50 0.44
86.00 86.50 0.50 0.07
86.50 87.00 0.50 0.24 3.35 1.26
87.00 87.50 0.50 0.49
87.50 88.00 0.50 3.14 1.00 3.50
88.00 88.50 0.50 3.86
312.87 313.28 0.41 1.30 1.40 1.29
313.28 313.78 0.50 1.00
313.78 314.27 0.49 1.59
TDD0015 220.28 220.64 0.36 0.74
TDD0054* 73.00 74.00 1.00 1.83 2.00 1.23
74.00 75.00 1.00 0.63
108.61 109.34 0.73 0.89
116.95 117.93 0.98 1.68 11.05 8.17
117.93 118.93 1.00 8.71 10.07 8.81
118.93 119.31 0.38 11.00
119.31 120.13 0.82 18.90
120.13 120.98 0.85 1.87
120.98 121.92 0.94 1.08
121.92 122.38 0.46 5.94
122.38 123.38 1.00 28.80
123.38 124.28 0.90 2.81
124.28 125.08 0.80 6.93
125.08 125.95 0.87 8.99
125.95 126.29 0.34 0.08
126.29 127.17 0.88 0.03
127.17 128.00 0.83 12.30
132.00 133.00 1.00 7.00 2.02 3.74 1.00 7.00
133.02 134.04 1.02 0.55
139.00 140.00 1.00 2.88 3.00 2.43 2.00 3.19
140.00 141.00 1.00 3.49
141.00 142.00 1.00 0.92
145.13 145.90 0.77 0.71
148.94 149.93 0.99 0.79 7.35 1.82
149.93 150.93 1.00 4.52 2.00 4.53
150.93 151.93 1.00 4.54
151.93 152.93 1.00 0.08
152.93 153.93 1.00 0.69
153.93 154.50 0.57 0.62
154.50 155.34 0.84 0.50
155.34 156.29 0.95 2.10 0.95 2.10
269.00 270.00 1.00 1.84
TDD0059 91.38 92.38 1.00 0.74
142.33 142.97 0.64 5.93 0.64 5.93
210.40 211.28 0.88 0.52 2.62 0.71
211.28 212.28 1.00 0.92
212.28 213.02 0.74 0.65
219.31 220.05 0.74 0.56
222.70 223.67 0.97 0.53
260.00 261.00 1.00 1.44
310.00 310.99 0.99 0.71 1.60 1.86
310.99 311.60 0.61 3.72 0.61 3.72
TDD0060 285.41 286.02 0.61 0.56 1.16 1.00
286.02 286.57 0.55 1.48
TDD0099 260.00 261.00 1.00 1.33 1.56 1.20
261.00 261.56 0.56 0.96
292.00 293.00 1.00 0.65 1.41 0.62
293.00 293.41 0.41 0.54
TDD0106 79.16 79.88 0.72 1.11
268.21 269.19 0.98 1.14 2.44 0.81
269.19 270.19 1.00 0.42
270.19 270.65 0.46 0.97
282.01 282.95 0.94 1.01
285.42 285.76 0.34 2.80 2.77 5.09 0.34 2.80
285.76 286.26 0.50 0.01
286.26 287.24 0.98 11.70 0.98 11.70
287.24 288.19 0.95 1.75
TDD0110 95.00 96.00 1.00 3.17 1.00 3.17
146.00 147.00 1.00 0.56
195.00 196.00 1.00 0.78 5.00 4.22
196.00 197.00 1.00 2.97
197.00 198.00 1.00 8.39 3.00 6.58
198.00 199.00 1.00 8.37
199.00 200.00 1.00 0.59
TDD0125 12.06 12.50 0.44 2.72 0.44 2.72
24.50 25.00 0.50 2.35 0.50 2.35
35.16 35.82 0.66 26.40 0.94 19.03 0.66 26.40
35.82 36.10 0.28 1.67
94.75 95.00 0.25 1.45
107.87 108.10 0.23 2.58 0.23 2.58
132.00 133.00 1.00 1.17 2.21 1.05
133.00 133.45 0.45 0.30
133.45 133.80 0.35 1.05
133.80 134.21 0.41 1.58
148.30 149.30 1.00 1.17 1.57 0.98
149.30 149.87 0.57 0.64
206.27 207.00 0.73 0.79 5.23 1.77
207.00 207.50 0.50 1.23
207.50 208.00 0.50 1.11
208.00 208.50 0.50 2.94 1.14 5.90
208.50 209.14 0.64 8.21
209.14 210.00 0.86 0.25
210.00 211.05 1.05 0.17
211.05 211.50 0.45 0.87
220.78 221.25 0.47 0.91
222.23 223.00 0.77 2.42 0.77 2.42
TDD0126 25.00 25.50 0.50 1.51 6.46 1.80
25.50 26.11 0.61 1.72
26.11 26.50 0.39 4.16 0.39 4.16
26.50 26.99 0.49 0.31
26.99 27.40 0.41 0.57
27.40 27.70 0.30 1.86
27.70 28.00 0.30 4.08 0.30 4.08
28.00 28.50 0.50 0.24
28.50 29.00 0.50 0.73
29.00 29.50 0.50 0.16
29.50 30.00 0.50 7.35 0.50 7.35
30.00 30.50 0.50 1.24
30.50 31.00 0.50 1.41
31.00 31.46 0.46 1.06
53.90 54.15 0.25 0.94
76.90 77.20 0.30 0.49 0.60 0.90
77.20 77.50 0.30 1.30
104.82 105.35 0.53 1.25 2.90 1.38
105.35 105.95 0.60 2.00 0.60 2.00
105.95 106.35 0.40 1.88
106.35 106.70 0.35 2.28 0.35 2.28
106.70 107.20 0.50 0.43
107.20 107.72 0.52 0.72
143.05 143.40 0.35 1.27
167.80 168.22 0.42 1.91 2.20 1.89
168.22 168.75 0.53 2.14 1.00 2.54
168.75 169.22 0.47 2.99
169.22 170.00 0.78 1.04
204.65 205.15 0.50 1.02
239.08 239.55 0.47 3.47 0.47 3.47
281.53 281.87 0.34 0.65
TDD0136 104.00 105.00 1.00 0.99
120.00 121.00 1.00 2.48 1.00 2.48
141.50 142.50 1.00 0.52 3.50 1.61
142.50 143.00 0.50 1.29
143.00 143.50 0.50 0.37
143.50 144.00 0.50 0.75
144.00 145.00 1.00 3.91 1.00 3.91
147.00 148.00 1.00 0.88
258.00 259.00 1.00 0.60 2.00 0.95
259.00 260.00 1.00 1.29
266.50 267.50 1.00 0.53
TRC0020 104.00 105.00 1.00 0.51
107.00 108.00 1.00 2.11 4.00 1.11 1.00 2.11
108.00 109.00 1.00 0.32
109.00 110.00 1.00 0.93
110.00 111.00 1.00 1.06
120.00 121.00 1.00 0.60 3.00 0.74
121.00 122.00 1.00 0.63
122.00 123.00 1.00 1.00
TRC0042 123.00 124.00 1.00 0.62
TRC0047 62.00 63.00 1.00 0.62
TRC0052 77.00 78.00 1.00 0.56 4.00 0.79
78.00 79.00 1.00 1.46
79.00 80.00 1.00 0.69
80.00 81.00 1.00 0.44
90.00 91.00 1.00 1.05
96.00 97.00 1.00 0.62
98.00 99.00 1.00 0.60
129.00 130.00 1.00 0.50
158.00 159.00 1.00 0.79
TRC0513 61.00 62.00 1.00 2.10 2.00 1.64 1.00 2.10
62.00 63.00 1.00 1.18
* TDD0054 results from 73m to 75m, 108m to 126m and from 269m to 270m previously released on June 29th, 2012
Note: True widths are not known at this time
Table 2: Tembo Project, Ngula 1 Target, UTM Coordinates
Hole_ID Easting Northing Elevation Azimuth CollarDip Eoh
TDD0014 436900 9647615 1241 0 -60 321
TDD0015 436700 9647585 1244 0 -60 305.1
TDD0054 436500 9647325 1246 180 -60 300.12
TDD0059 436400 9647325 1247 180 -60 350.68
TDD0060 436300 9647325 1246 180 -60 303
TDD0099 436598 9647325 1245 180 -60 317.68
TDD0106 436550 9647324 1246 180 -60 300
TDD0110 436800 9647365 1241 180 -60 34.5
TDD0125 436800 9647265 1241 180 -60 431.68
TDD0126 436650 9647155 1246 0 -60 300.58
TDD0136 436500 9647300 1246 180 -60 300
TRC0020 437000 9647245 1236 0 -60 150
TRC0042 436600 9647605 1246 0 -60 300
TRC0047 436400 9647565 1247 0 -60 150
TRC0052 436602 9647327 1245 180 -60 200

QA/QC

A stringent QA/QC practice is being applied to all sample batches. A Verified Reference Material standard is inserted every 20th sample, a known blank or blank standard every 20th sample and all samples with assays greater than 0.5 g/t Au are re-assayed. 1% of all samples are submitted to an alternative laboratory for check analysis. In addition the laboratory adheres to an internal QA/QC procedure including standard samples and repeats and blanks inserted independently.

The above information has been prepared under the supervision of David Scott, Pr. Sci. Nat., who is designated as a "Qualified Person" with the ability and authority to verify the authenticity and validity of the data.

About Tembo Gold Corp.

Tembo Gold (TSX VENTURE:TEM) is a Canadian publicly listed mineral exploration company focused on the exploration and development of gold projects in Tanzania and the rest of Africa. The Company currently has 100% interest in the Tembo Gold Project that is located adjacent to African Barrick's 20Moz Bulyanhulu Mine in the prolific Lake Victoria Greenstone belt in Tanzania. The company is led by a highly experienced team with a proven history of developing, financing, and operating mining projects in Africa. The company has commenced its 90,000m drill program on its Tembo Gold Project.

On Behalf of the Board of Directors of Tembo, David Scott, President & CEO

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 respect of the use of the net proceeds from the Private Placement, the completion and timing of additional closings of the Non-Brokered Private Placement, the payment of certain finders' fees and the listing of the Common Shares on the TSXV. Forward-looking statements are based upon the opinions and expectations of management of the Company as at the effective date of such statements and, in certain cases, information provided or disseminated by third parties. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, and that information obtained from third party sources is reliable, they can give no assurance that those expectations will prove to have been correct. With respect to forward-looking statements contained in this news release, the Company has made assumptions regarding, among other things, the ability to develop the Company's properties, the economic climate in the jurisdictions where the Company carries on operations and commodity prices. Although the Company believes that the expectations reflected in the forward-looking statements contained in this document, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, 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.

CONTACT INFORMATION:

Tembo Gold Corp.
Marc Cernovitch
Director & VP Business Development
416.619.9010
mcernovitch@tembogold.com
www.tembogold.com