Tsodilo Resources Limited - Gcwihaba Prospecting Licenses Update

TORONTO, ON / ACCESSWIRE / February 20, 2024 / Tsodilo Resources Limited ("Tsodilo" or the "Company") (TSX-V:TSD)(OTCQB:TSDRF)(FSE:TZO) is pleased to announce that the date for the Respondents to file an appeal to the judgement rendered on December 15, 2023, in the High Court, Republic of Botswana In re Gcwihaba Resources (Pty) Ltd. vs. Minister of Minerals and Energy and the Attorney General of Botswana, MAHMN-000075-22, lapsed on February 15, 2024.

Prospecting Licenses PL020-024/2018, were collected from the Department of Mines (DOM) on February 19, 2023. An examination of the licenses revealed several discrepancies or disparities that need to be addressed and DOM will be engaged to affect the needed changes. Upon resolution of the issues, the Company will withdraw its Contempt Motion filed on January 23, 2024, See, Tsodilo Resources Ltd. - News Releases.

Tsodilo's Chairman and CEO, James M. Bruchs, stated "It is a great relief to put this behind us. Staff and contractors have been standing by, ready to finish the work needed to complete the Preliminary Economic Assessment (PEA). Also, since the decision was issued on December 15, 2023, there has been renewed interest from investors and third parties wanting information on the project. At the Mining Indaba in Cape Town, SA earlier this month, we were able to present our Xaudum Iron Formation (XIF) and other metals projects to interested parties without having to belabor the license issues", and as "I have mentioned previously, but it is worth repeating; since 2014 the Botswana Government has publicly expressed its support for the XIF project and we look forward to working with the Ministry of Minerals and Energy and the Ministry of Environment and Tourism as we continue our work to bring the XIF into production."

Environment and Green Steel

Tsodilo adopted the International Finance Corporation's (IFC) Environmental, Health and Safety Guidelines for Mining when IFC became a shareholder more than a decade ago and the Company has worked diligently to advance the XIF project within those guidelines. Further to this, Tsodilo became a member of the ResponsibleSteel organization ResponsibleSteel as building a sustainable steel industry requires cooperation and mutual commitment from companies at all levels of the steel supply chain, representatives of civil society, and other stakeholders and ResponsibleSteel provides the forum for this multi-stakeholder approach. Their members include some of the leading players in the industry working together to minimize the impact of steel manufacturing on people and the planet. Working closely with Government Ministries and ResponsibleSteelTM furthers Tsodilo's goal of becoming the supplier of an ultra-high grade +67% Fe product to the industry and doing what we can to reduce greenhouse gas emissions (GHG) by becoming part of the "green steel" movement."