======================================================================
Re: News Release - Tuesday, February 26, 2008
Tsodilo Resources Limited Awarded Key Diamond Exploration
Licenses in Botswana
======================================================================

TORONTO, ONTARIO - Tsodilo Resources Limited ("Tsodilo" or the
"Company") (TSX Venture Exchange: TSD) is pleased to report that the
Botswana Geological Survey has now granted five Prospecting License
("PL") No. 046 / 2007 -- No. 052 / 2007 to the Company's local,
wholly-owned operating subsidiary Gcwihaba Resources (Pty) Ltd.
"Gcwihaba"). These license areas are situated north and east of the
Company's current Newdico (Pty) Ltd. ("Newdico") diamond licenses in
the Ngamiland area of northwest Botswana.

In Botswana, which remains the world's leading producer of diamonds by
value, the northwest corner of the country is rapidly developing into a
very active diamond exploration play, reflected by a surge of
exploration activity and new Prospecting Licenses. The Company's
Newdico and Gcwihaba licenses are adjacent to claims recently acquired
by DeBeers Prospecting Botswana Pty Limited in Botswana, and that
Company's affiliate, Namdeb Diamond Corporation (Pty) Limited, in
neighboring Namibia. The activity in northwest Botswana has been
stimulated in part by an increasing consensus that the Congo craton,
which hosts important economic diamond deposits, extends into northwest
Botswana. Furthermore, this area is strategically located close to two
major secondary surface concentrations of diamonds and G10 garnets in
the vicinity of Omatako and Tsumkwe, to the west of the Company's
licenses in Namibia.

Initial target selection in these license areas was based upon
screening of remote sensing and aeromagnetic data as well as
geochemical data. The initial target selection was performed by Dr.
Christopher M. H. Jennings during his tenure as Chairman of the
Company, and was further defined, refined and prioritized by Scott Hogg
of Scott Hogg & Associates Ltd., a Toronto-based geophysical
contractor. The new license blocks contain numerous clusters of
bulls-eye circular features aligned along several lineaments. These
features possess characteristics closely comparable to those associated
with known Kalahari kimberlites and other kimberlites discovered by the
Company in our adjoining license blocks.

According to James M. Bruchs, President and CEO, "We are delighted to
have been granted these key diamond licenses in Botswana, which
represents the world's leading source of high-quality diamonds and has
been recognized for its favorable exploration and investment climates.
These new licenses complete our acquisition of licenses in northwest
Botswana. We are the largest license holder in Ngamiland with
approximately 25,000 square kilometers under license and we remain
confident that the kimberlite sources of the two sizeable secondary
surface concentrations of diamonds and G10 garnets which lie down slope
to the west of the Company's licenses area will prove to be situated
within the Company's prospecting licenses. We are not alone in this
area as DeBeers in one form or another has adjoining licenses to the
east, north and west of our property and with nothing of (kimberlite)
significance to the south of us, we feel pretty good about where we
are."

In the past year, the linkages between magnetotellurics, other
geophysical variables and kimberlite occurrences and it's applicability
to the Company's license areas in northwest Botswana have been
examined. In particular, recent studies on resistivity have been
examined to evaluate the correlation between the at depth resitivity
values, associated lithospheric temperatures and diamondiferous
kimberlite occurrences in order to find correlations in our license
blocks similar to those of known economic kimberlites. The work shows
that there is a correlation of certain values for diamondiferous
kimberlites as shown by the Resistivity and Temperature maps at a 200
kilometer depth in relation to high resistivity value areas and low
temperature. These values were then applied to areas where there are
good magnetotellurics indications of areas where the Angolan / Congo
craton was subducted under the Damara Mobile Belt. The Company's
preliminary study showed that one of the areas where these factors all
coincided was in the new license blocks that adjoin those of DeBeers
Prospecting Ltd. in Botswana. The Company's geophysical survey
personnel recently commenced a ground magnetic survey over this area
and have found that magnetic targets not apparent on existing
aero-magnetic data are clearly visible. These magnetic targets are
similar to those of other known kimberlites previously discovered in
the Company's license blocks. "The news is good and our hard work and
the use of data resulting from the application of the new technology
are paying off. It is one thing to be on a craton edge or margin but
it is quite another to be where the archean part of the craton exists
and we have reason to believe we are", comments Mr. Bruchs. When
conditions permit, the Company will relocate its drilling rig to the
these new licensing areas for exploratory drilling, with the goal of
adding promising further candidates to the already significant number
of kimberlites that have been identified for further sampling and
analysis.

Tsodilo Resources Limited is an international diamond exploration
company engaged in the search for economic kimberlites at its Newdico
(Pty) Limited ("Newdico') and Gcwihaba Resources (Pty) Limited
("Gcwihaba") projects in northwest Botswana. The Republic of Botswana
is the leading producer of diamonds, by value, in the world and the
world's second-largest producer by volume. Its mines are amongst the
most profitable in the world and they are a member of the Kimberley
Process Certification Scheme (KPCS) which imposes extensive
requirements on its members to enable them to certify shipments of
rough diamonds as 'conflict-free'. The country is democratically
ruled, boasting a growing economy and a stable political environment.

The Company has an 93% stake in Newdico (16,800 square kilometers under
diamond license) while Trans Hex Group, a South African diamond mining
and marketing company, holds the remaining 7%. The southern and
northern Gcwihaba project area (7,500 square kilometers under diamond
license and 3,800 square kilometers under base and precious metals
licenses) is 100% held by the Company. Tsodilo manages the exploration
of both the Newdico and Gcwihaba license areas. Overall project
supervision of the Company's exploration program is the responsibility
of Macdonald Kahari, Pr. Sci. Nat., B.Sc. (Physics and Geology), M.Sc.
(Exploration Geophysics), a qualified professional registered with the
South African Council for Natural Scientific Professions and a
Qualified Person under NI 43-101 and he has reviewed and approved the
contents of this release. The Company has offices in Toronto, Canada
and Gaborone and Maun, Botswana. Please visit the Company's website,
www.TsodiloResources.com, for additional information and background on
our projects.

The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release. This
news release may contain assumptions, estimates, and other
forward-looking statements regarding future events. Such
forward-looking statements involve inherent risks and uncertainties and
are subject to factors, many of which are beyond the Company's control,
which may cause actual results or performance to differ materially from
those currently anticipated in such statements.

FOR FURTHER INFORMATION PLEASE CONTACT:
James M. Bruchs - President and Chief Executive Officer
E-Mail - JBruchs@TsodiloResources.com
Head Office - Telephone +1 416 572 2033 Facsimile + 1 416 987 4369

======================================================================
Copyright (c) 2008 TSODILO RESOURCES LTD. (TSX-TSD) All rights
reserved. For more information visit our website at
http://www.tsodiloresources.com/ or send
mailto:info@tsodiloresources.com
Message sent on Tue Feb 26, 2008 at 6:44:28 AM Pacific Time
======================================================================
.