Toronto, Ontario – January 15, 2012 - Tembo Gold Corp. (TSX-V: TEM) (FRANKFURT:T23) (OTCQX:TBGPF) ("Tembo", or the "Company) is very pleased to report the results of the first deep hole from the 2012 initial drill program at Ngula 1 target on the Tembo Project in the Lake Victoria goldfield of Tanzania. The results of this deep hole strongly support the Company’s geological model that mineralization grades will improve with depth, as was the case at the adjacent Bulyanhulu Mine of African Barrick Gold.

Highlights of the latest drill results include:

• TDD0041: 22.81g/t Au over 15.00m from 299.00m including 34.78g/t Au over 9.70m from 302.30m, including 205 g/t gold over 1 meter

Tembo Gold President & CEO, David Scott stated, “These exceptional results from Diamond drill hole TDD0041 at Ngula, strongly support the model that the regional geological controls on mineralization will result in improved gold grades at Tembo with depth. Given the robust nature of the structures hosting the mineralization and these results, our expectation and confidence of discovering multiple parallel laterally and vertically extensive zones of high-grade gold mineralization at depth has increased. Having achieved high grade and wide intersections in both the northern and southern half of the shear package in steep north dipping structures supports this. We eagerly anticipate the 2013 drilling program which will be designed to delineate resources and extend the depth and strike of high grade mineralization at Ngula 1.”

To view the entire news release, please click here.

The latest Ngula 1 drill hole results are presented in Table 1 and the highlights of the drilling results to date are depicted on Figure 1. The drill hole section through Diamond drill hole TDD0041 is depicted on Figure 2.

Ngula 1 Target

The Ngula 1 target consists of a 600m long, 150-200m wide package of massive and locally intensely sheared mafic meta-volcanic rocks bounded to the north and south by thin meta-sedimentary units. Within the package there are a number of strong sub-parallel, near vertical north dipping, east-west shear structures. These shear structures consistently host gold mineralization in association with quartz veining, alteration and sulphides, predominantly pyrrhotite, pyrite and chalcopyrite. These east-west structures are of variable thickness, ranging from less than a meter to 50m, and it is interpreted that they are intersected by northwest and northeast trending secondary shear structures that result in thicker zones of deformation and alteration and higher-grade mineralization.

The drilling program to date has consisted of alternating 100m spaced Diamond drill hole and reverse circulation drill hole sections drilled from the south to test the zone at vertical depths between 50m and 200m from surface, and 100m spaced Diamond hole drill sections drilled from the north testing to similar depths. The earlier drill results announced in 2012 (March 13, June 7, and September 26) provide initial definition of these zone of deformation and mineralization and drill holes intersected variable grades and widths of mineralization within numerous robust parallel east west shear structures.

These intersections include:

• TDD0004: 3.13 g/t Au over 25.89m including 8.87 g/t Au over 3.89m;
• TDD0005: 10.76 g/t Au over 4.00m, including 93.3 g/t Au over 0.38m;
• TRC0013: 17.23g/t Au over 4.00m from 19.00m, including 48.8g/t Au over 1.00m, and 13.00g/t Au over 1.00m from 104m;
• TRC0014: 19.80g/t Au over 1.00m from 114.00m and 10.00g/t over 1.00m from 122.00m; and
• TDD0054: 8.17g/t over 11.05m from 116.95m.

A comparison with shallow early drilling at Bulyanhulu reveals that like Bulyanhulu, Ngula 1, despite displaying consistent deformation, alteration and sulphide mineralization, has inconsistent grades near surface. As drilling progressed to greater depths at Bulyanhulu, grades and grade continuity improved, with a 1km ore body near surface extending to approximately 4km at depth with grades showing a marked improvement below 200m.

Diamond drill hole TDD0041 was drilled from the north to enter the northern margin of the shear package at the upper meta-sedimentary marker at a vertical depth of 200m and to exit at a vertical depth of approximately 400m, whereas earlier holes entered the zone at depths between 50m and 100m and exited at between 100 and 200m. The drill hole has reached a depth of 387m and will be deepened to a depth of approximately 500m to intersect further potential wide mineralized structures when drilling recommences. The drill hole has intersected a broad zone of deformed and foliated metavolcanic rocks with strong chlorite and epidote alteration and abundant disseminated pyrrhotite and pyrite mineralization. A gold mineralized zone of 22.81g/t over 15 m from 299m downhole is associated with sub vertical shearing and quartz veining and may correlate to the well-mineralized gold bearing shear in drill hole TDD0054 and other wide zones of shearing and mineralization that host low-grade gold. This zone is located in the northern half of the metavolcanic package. Within the southern half a similarly well-developed shear structure is interpreted to host the mineralization in TRC0013, TDD0004 and TDD0005. The pervasive nature of the alteration, the width of the deformation zones and the wide distribution of gold through these zones suggests strong shear structure controlled zones of mineralization that should have extensive lateral and vertical continuity. The stronger and higher-grade mineralization in this drill hole suggests that the tenor of gold is increasing at depth.

The Ngula 1 drilling to date indicates:

• There are several robust steep north dipping sub-parallel east west shear structures containing gold;
• The width of the structures and mineralization along strike and down dip is variable;
• Gold mineralization tenor at the depths drilled to date (shallower than 200m) is inconsistent;
• Structures bifurcate and converge but drilling is too wide spaced for detailed and certain correlation between individual structures in both directions;
• Extensive alteration, shearing, quartz veining and sulphide mineralization typify high-grade gold bearing zones.
• Zones are developed that display the typical characteristics of well-mineralized gold intersections, appear to correlate with high-grade zones, but contain low grade gold;
• The structures are converging with depth and where they converge, higher grades and wider intersections are expected;
• The deepest hole drilled to date has given the best results.

Follow-up drilling of the Ngula 1 target at Tembo is planned for 2013. This program will be designed to in-fill the shallow drilling to approximately a 50m drill hole spacing in order to improve geological interpretation, define gold distribution with a view to modeling a shallow potential open pit resource; deep drilling will test the entire structural zone along strike and at depth to assess the continuity and gold tenor of the TDD0041 mineralized structure and the down dip and along strike continuity of the parallel gold bearing structures intersected up dip.

The Company will be hosting a webinar and conference call on Wednesday January 16th at 4:15pm EST. President and CEO, David Scott, will discuss the latest developments with the drilling program at the Tembo Project. To register to attend this webinar, please visit http://www.tembogold.com/webinar or call 416.907.4148

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To view the entire news release, please click here.

Regards,

Brett Allan
T: 416-907-4148
ballan@apexcap.ca