Vancouver, British Columbia–(Newsfile Corp. – April 22, 2022) – Tembo Gold Corp. (TSXV: TEM) (“Tembo” or the “Company“) is pleased to announce that it has completed its previously announced sale of certain non-core prospecting licenses in Tanzania (the “Licenses“) with Barrick Gold Corporation (“Barrick“) and Bulyanhulu Gold Mine Limited (“Buly“), a subsidiary of Barrick (the “Transaction“), in consideration for: (i) US$6,000,000; (ii) contingent payments to be based on the inferred, indicated and measured gold mineral resources identified in the areas of land which are covered by the Licenses (the “Licence Area“) up to an aggregate amount of US$45,000,000; and (iii) a requirement for Buly to invest a minimum of US$9,000,000 in the Licence Area over the course of the four years following the completion of the Transaction.