Great results that likely trend though our property in Tanzania. All the best.

Tembo Gold Reports 10.17g/T Of Gold Over 6m Including 19.1g/T Of Gold Over 3m From The Initial Drill Results At Its Most Recent Mgusu Target Area

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September 05, 2012

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Tembo Gold Corp. (TSX-V: TEM) (FSE: T23) (OTCQX: TBGPF ) ("Tembo" or "the Company") is pleased to report results from the ongoing 2012 drill program on the Tembo Property in the Lake Victoria goldfield of Tanzania. Drill-hole TRC0423 at the Mgusu target (Figure 1) was drilled as part of the phase 1 drilling program on the Tembo property and has returned excellent early drill results (Table 1). With these new intersections Tembo has now encountered significant gold mineralization in its initial drilling at all three of its target areas drilled to date and it continues to demonstrate the anticipated high success of drilling under artisanal mine workings.

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Highlights

• Tembo drill hole confirms significant gold mineralization at 3rd target area on the Tembo project
• TRC0423: 10.17g/t over 6m from 36.0m including 19.1g/t over 3m
• Grades and widths similar to those experienced at 14Moz Bulyanhulu mine
• Over 3.1km of artisanal workings in Mgusu target area provide numerous structures to be tested
• Sampling of artisanal production at Mgusu returned grades ranging from less than 1 to 35g/t gold

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David Scott President & CEO stated, "We are very pleased to have encountered gold mineralization on yet another target on our property, the third in succession. A 13 hole RC drill campaign consisting of multiple short fences to depths of 150m was conducted in which several holes encountered gold mineralization with TRC0423 demonstrating particularly high grades of 19.1g/t gold over 3m near surface beneath artisanal mining. Mgusu is an exciting target given the large number and multidirectional nature of mineralized structures and the over 3.1km of artisanal exploitation. Having demonstrated significant gold mineralization below the artisanal workings we have confidence to proceed with a further drilling campaign to systematically test the full potential of the project and expand the positive results achieved to date at Mgusu."

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Figure 1: Summary of Tembo Property and Drill Results

Figure 2: Mgusu Project Significant Drill Results

Table 1: Highlights: 2012 Reverse Circulation Drilling at Mgusu

* Widths represent down hole lengths and true widths are unknown at this time.

The Mgusu Target

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Mgusu encompasses the southern slopes of Nyakagwe Hill and is defined by a broad, semi-arcuate belt of active artisanal workings largely identified by the LIDAR (Light Detection and Ranging) survey conducted in 2011. The workings define a combined strike in excess of 3km extending along a zone 1,500m in length. The zone of workings is up to 1,000m wide extending from Nyakagwe Village in the west to the Nyakagwe East target in the east. The workings indicate a multiple array of mineralized structures with two dominant orientations, east-northeast west-southwest and west-northwest east-southeast with dips generally interpreted to be steep to the south. The historical drilling (Table 2) and the re-interpretation of the historical geophysical data supports a drill strategy to target intersecting magnetic lineaments, particularly where these have associated artisanal workings. Mgusu displays numerous magnetic structures in multiple directions that have clearly resulted in significant gold mineralization not all of which have been exploited. Artisanal sampling of vertical shafts extending to depths of 30m, conducted during late 2011, returned grades varying form less than 1g/t to 35g/t gold. The target area contains a number of apparent structural intersections hosting mineralization and workings that constitute the drill program's primary targets.

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Table 2: Historical drilling results – Mgusu

Drill Program

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Reverse circulation (RC) drilling to date has comprised five short fence lines (each consisting of two to five overlapping inclined holes) across the workings where two or more directions of workings merge. The heel-toe holes were planned to a depth of 150m and 40m apart drilling along lines towards 330° and 030°. A diamond drill rig has recently been mobilised to Mgusu to follow up on the RC success and to provide more definitive structural information.

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Table 3: Borehole collar coordinates, azimuth and collar dip, and final depth for all Mgusu boreholes

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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 gold 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.

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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.