GRANT OF STOCK OPTIONS

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VANCOUVER, BRITISH COLUMBIA — 10 February 2017 – Tango Mining Limited (“Tango” or the “Company”) (TSXV:TGV) announces that incentive stock options have been granted to certain directors, officers and employees to purchase up to an aggregate of 4,500,000 common shares in the capital stock of the Company.  The options are exercisable at a price of $0.05 per share, expiring five years after the date of grant.

On behalf of the Board of Directors of Tango Mining Limited

Mr Terry L. Tucker, P.Geo.

Executive Chairman and Interim CEO

Tango Mining Limited

terry.t@tangomining.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statement

Certain information set forth in this news release contains “forward-looking statements” and “forward-looking information” under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements, which include management’s assessment of future plans and operations and are based on current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as “forecasts”, estimates”, “expects” “anticipates”, “believes”, “projects”, “plans”, “outlook”, “capacity” and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them.

Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to statements with respect to the estimation of mineral resources; the realization of mineral resource estimates; anticipated future production, capital and operating costs; cash flows and mine life; potential size of a mineralized zone; potential expansion of mineralization; potential types of mining operations; permitting timelines; government regulation of exploration and mining operations; risks that the presence of diamond deposits mentioned nearby the Company’s property are not indicative of the diamond mineralization on the Company’s property, the supply and demand for, deliveries of and the level and volatility of prices of rough diamonds, risks that the actual revenues will be less than projected; risks that the target production for the existing mining contracts will be less than projected or expected; risks that production will not commence as projected due to delay or inability to receive governmental approval of the Company’s acquisition or the timely completion of an NI43-101 report; technical problems; inability of management to secure sales or third party purchase contracts; currency and interest rate fluctuations; foreign exchange fluctuations and foreign operations; various events which could disrupt operations, including labor stoppages and severe weather conditions; and management’s ability to anticipate and manage the foregoing factors and risks.

The forward-looking statements and information contained in this news release are based on certain assumptions regarding, among other things, future prices for coal and diamonds; future currency and exchange rates; the Company’s ability to generate sufficient cash flow from operations and access capital markets to meet its future obligations; coal consumption levels; and the Company’s ability to retain qualified staff and equipment in a cost-efficient manner to meet its demand. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The reader is cautioned not to place undue reliance on forward-looking statements. The Company does not undertake to update any of the forward-looking statements contained in this news release unless required by law. The statements as to the Company’s capacity to achieve revenue are no assurance that it will achieve these levels of revenue.

36.34 CARAT DIAMOND RECOVERED FROM OENA DIAMOND MINE

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VANCOUVER, BRITISH COLUMBIA — 8 February 2017 – Tango Mining Limited (“Tango” or the “Company”) (TSXV:TGV) is pleased to announce that African Mineral Recovery Solutions CC (“AMRS”) has mobilized and commissioned mining and processing equipment, including a Bourevestnik X-ray sorter (“BVX”) at the Oena Diamond Mine (the “Oena Project”) located in the Northern Cape, South Africa. During test commissioning, AMRS recovered a total of 62.17 carats at an average value of US$3,780 per carat, including a stone of 36.34 carats.

Since Tango’s acquisition of 51% of African Star Minerals (Pty) Limited (“ASM”), which owns 100% of the Oena Project, 254.2 carats have been recovered with an average value of US$1,881 per carat. Upon completion of a number of required operational items, including the implementation of a number of required management plans, including a Health and Safety Plan, Tango expects AMRS to commence bulk sampling in Q1 2017.

Debt Conversion to Equity

The Chairman and Interim CEO, Terry L. Tucker, P.Geo., has agreed to settle indebtedness in the sum of C$100,000 by the issuance of 2,000,000 common shares at a price of C$0.05 per share, which shares for debt settlement is subject to the approval of the TSX Venture Exchange.

About Tango Mining Limited

Tango has four thermal coal, metallurgical and processing plant and engineering contracts that process 6.5 Mt per annum, with clientele that include Exxaro and Glencore. The four projects are located within the Ogies and Highveld coalfields, Mpumalanga Province and Kliprivier coalfield, KwaZulu-Natal Province, South Africa.

On behalf of the Board of Directors of Tango Mining Limited

Mr Terry L. Tucker, P.Geo.

Executive Chairman and Interim CEO

Tango Mining Limited

terry.t@tangomining.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statement

Certain information set forth in this news release contains “forward-looking statements” and “forward-looking information” under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements, which include management’s assessment of future plans and operations and are based on current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as “forecasts”, estimates”, “expects” “anticipates”, “believes”, “projects”, “plans”, “outlook”, “capacity” and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them.

Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to statements with respect to the estimation of mineral resources; the realization of mineral resource estimates; anticipated future production, capital and operating costs; cash flows and mine life; potential size of a mineralized zone; potential expansion of mineralization; potential types of mining operations; permitting timelines; government regulation of exploration and mining operations; risks that the presence of diamond deposits mentioned nearby the Company’s property are not indicative of the diamond mineralization on the Company’s property, the supply and demand for, deliveries of and the level and volatility of prices of rough diamonds, risks that the actual revenues will be less than projected; risks that the target production for the existing mining contracts will be less than projected or expected; risks that production will not commence as projected due to delay or inability to receive governmental approval of the Company’s acquisition or the timely completion of an NI43-101 report; technical problems; inability of management to secure sales or third party purchase contracts; currency and interest rate fluctuations; foreign exchange fluctuations and foreign operations; various events which could disrupt operations, including labor stoppages and severe weather conditions; and management’s ability to anticipate and manage the foregoing factors and risks.

The forward-looking statements and information contained in this news release are based on certain assumptions regarding, among other things, future prices for coal and diamonds; future currency and exchange rates; the Company’s ability to generate sufficient cash flow from operations and access capital markets to meet its future obligations; coal consumption levels; and the Company’s ability to retain qualified staff and equipment in a cost-efficient manner to meet its demand. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The reader is cautioned not to place undue reliance on forward-looking statements. The Company does not undertake to update any of the forward-looking statements contained in this news release unless required by law. The statements as to the Company’s capacity to achieve revenue are no assurance that it will achieve these levels of revenue. 

 

 

TANGO APPOINTS OENA MINING CONTRACTOR

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VANCOUVER, BRITISH COLUMBIA — 18 November 2016 – Tango Mining Limited (“Tango” or the “Company”) (TSXV:TGV)  is pleased to announce the appointment of African Mineral Recovery Solutions CC (“AMRS”) as contractor to immediately recommence bulk sampling of the Oena diamond mine located in the Northern Cape, South Africa (the “Oena Project”). AMRS will pay a gross income of net diamond sales, less state royalties, based on a sliding scale between 15% and 20% for the duration of the 24-month contract. ATC Enterprises DMCC (“ATC”) maintain their diamond offtake right until they have received a minimum of 2,000 carats.

AMRS specialize in the processing of alluvial gold and diamond deposits and will utilize Bourevestnik X-ray machine (“BVX”) technology for diamond recovery. The Oena Project consists of an 8,800-hectare mining right and corresponding infrastructure and all associated processing equipment located along the Orange River in a well-established alluvial diamond-mining province known to produce high quality and large sized diamonds.

Finance Update

Tango announces that it has completed a private placement of C$67,500 in unsecured convertible notes. The notes, bearing interest at 12%, are due on 28 February 2017, and are convertible into units of the Company at a price of C$0.05 per unit, with each unit consisting of one common share and one share purchase warrant exercisable at a price of C$0.07 per share for a term of two years.

The Company also announces the extension of the ATC unsecured convertible note for the balance of US$250,000 until 31 March 2017 (see news release of 17 June 2015). The note is convertible into common shares of the Company at a price of C$0.05 per share and bears interest at 10%.

The private placement is subject to the approval of the TSX Venture Exchange.

Oena

Tango has terminated both the sale and contracting agreements, as announced on 23 March 2016, with Bothma Diamonte CC.

The technical disclosure in this news release has been approved by Terry L. Tucker, P.Geo., Executive Chairman of the Company and a Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators.

About Tango Mining Limited

Tango has four thermal coal, metallurgical and processing plant and engineering contracts that process 6.5 Mt per annum, with clientele that include Exxaro and Glencore. The four projects are located within the Ogies and Highveld coalfields, Mpumalanga Province and Kliprivier coalfield, KwaZulu-Natal Province, South Africa.

On behalf of the Board of Directors of Tango Mining Limited

Mr Terry L. Tucker, P.Geo.

Executive Chairman and Interim CEO

Tango Mining Limited

terry.t@tangomining.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statement

Certain information set forth in this news release contains “forward-looking statements” and “forward-looking information” under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements, which include management’s assessment of future plans and operations and are based on current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as “forecasts”, estimates”, “expects” “anticipates”, “believes”, “projects”, “plans”, “outlook”, “capacity” and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them.

Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to statements with respect to the estimation of mineral resources; the realization of mineral resource estimates; anticipated future production, capital and operating costs; cash flows and mine life; potential size of a mineralized zone; potential expansion of mineralization; potential types of mining operations; permitting timelines; government regulation of exploration and mining operations; risks that the presence of diamond deposits mentioned nearby the Company’s property are not indicative of the diamond mineralization on the Company’s property, the supply and demand for, deliveries of and the level and volatility of prices of rough diamonds, risks that the actual revenues will be less than projected; risks that the target production for the existing mining contracts will be less than projected or expected; risks that production will not commence as projected due to delay or inability to receive governmental approval of the Company’s acquisition or the timely completion of an NI43-101 report; technical problems; inability of management to secure sales or third party purchase contracts; currency and interest rate fluctuations; foreign exchange fluctuations and foreign operations; various events which could disrupt operations, including labor stoppages and severe weather conditions; and management’s ability to anticipate and manage the foregoing factors and risks.

The forward-looking statements and information contained in this news release are based on certain assumptions regarding, among other things, future prices for coal and diamonds; future currency and exchange rates; the Company’s ability to generate sufficient cash flow from operations and access capital markets to meet its future obligations; coal consumption levels; and the Company’s ability to retain qualified staff and equipment in a cost-efficient manner to meet its demand. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The reader is cautioned not to place undue reliance on forward-looking statements. The Company does not undertake to update any of the forward-looking statements contained in this news release unless required by law. The statements as to the Company’s capacity to achieve revenue are no assurance that it will achieve these levels of revenue.

BK11 DIAMOND MINE, BOTSWANA, ACQUISITION NOT COMPLETED

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VANCOUVER, BRITISH COLUMBIA — 12 September 2016 – Tango Mining Limited (“Tango” or the “Company”) (TSXV:TGV) announces that the Firestone Diamonds Limited (“Firestone”) Sale of Shares and Claims Agreement (the “Firestone Agreement”) for the acquisition of the BK11 Diamond Mine, Botswana (“BK11”), as announced on 9 July 2015, did not close by the 9 September 2016 (the “Revised Drop Dead Date”).

Although Firestone had agreed to extend the Revised Drop Dead Date, as announced on 29 August 2016, by when all conditions for the acquisition of BK11 must have been satisfied, namely consideration of US$8.0 million and repayment of the care and maintenance fees to a maximum of US$40,000 per month, the Company did not close the US$10 million Loan Financing announced on 29 August 2016 or the US$30 million loan commitment with Vanderbilt Commercial Lending, Inc., as announced on 24 March 2016 on or before the Revised Drop Dead Date.

The Company’s core operating business at this time remains to be its four thermal coal, “Operation and Maintenance of Coal Processing Plant Contracts” that process 6.5 Mt per annum, with clientele that include Exxaro and Glencore and employees over 350 personnel. The Company has a continued development plan in place to grow the thermal coal business using the successful past 19-year business model, an established market presence and its proven successful operational reputation in the coal, base and precious metal and precious stone Southern African mining sector.

Tango will continue to look for growth opportunities via the acquisition of diamond and metal mining development and exploration projects in Africa, specifically in Botswana and Angola, and in diamond trading opportunities.

Up to C$3 Million Private Placement

As announced on 18 July 2016 and renewed on the 2 September 2016, Tango can place up to 60,000,000 units at a price of $0.05 per unit. Each unit shall consist of one common share and one share purchase warrant to purchase one additional common share at a price of $0.10 per share, exercisable for a period of two years from the date of grant. The private placement is subject to approval by the TSX Venture Exchange.

Up to US$10M Non Convertible Loan

As announced on the 29 August 2016, the Company will continue discussions in regards to the non-convertible loan agreements (the “Loan Agreements”) with a number of lenders (the “Lenders”), in order to fund acquisitions, new business and trading opportunities and for general working capital purposes. Pursuant to the Loan Agreements, the Lenders would advance to the Company the aggregate principal amount of US$10,000,000 (the “Loan”). The Loan bears interest at a rate of 12% per annum calculated quarterly in arrears and is payable on demand on or after the first anniversary of the closing date of the Loan. All other terms and conditions of the Loan remain as per the news release of the 29 August 2016.

About Tango Mining Limited

Tango Mining Limited is a Canadian company that primarily operates in Southern Africa. Tango have four thermal coal, metallurgical and processing plant and engineering contracts that process 6.5 Mt per annum, with clientele that include Exxaro and Glencore. The four projects, employing over 350 personnel, are located within the Ogies and Highveld coalfields, Mpumalanga Province and Kliprivier coalfield, KwaZulu-Natal Province, South Africa.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Mr. Terry L. Tucker, P.Geo.

Executive Chairman and Interim CEO

Tango Mining Limited

terry.t@tangomining.com

The TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has neither approved nor disapproved the contents of this press release.

Forward-Looking Statement

Certain information set forth in this news release contains “forward-looking statements” and “forward-looking information” under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements, which include management’s assessment of future plans and operations and are based on current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as “forecasts”, estimates”, “expects” “anticipates”, “believes”, “projects”, “plans”, “outlook”, “capacity” and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them.

Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: statements with respect to the estimation of mineral resources; the realization of mineral resource estimates; anticipated future production, capital and operating costs; cash flows and mine life; potential size of a mineralized zone; potential expansion of mineralization; potential types of mining operations; permitting timelines; government regulation of exploration and mining operations; risks that the presence of diamond deposits mentioned nearby the Company’s property are not indicative of the diamond mineralization on the Company’s property, the supply and demand for, deliveries of and the level and volatility of prices of rough diamonds, risks that the actual revenues will be less than projected; risks that the target production for the existing mining contracts will be less than projected or expected; risks that production will not commence as projected due to delay or inability to receive governmental approval of the Company’s acquisition or the timely completion of a NI43-101 report; technical problems; inability of management to secure sales or third party purchase contracts; currency and interest rate fluctuations; foreign exchange fluctuations and foreign operations; various events which could disrupt operations, including labor stoppages and severe weather conditions; and management’s ability to anticipate and manage the foregoing factors and risks.

The forward-looking statements and information contained in this news release are based on certain assumptions regarding, among other things, future prices for coal and diamonds; future currency and exchange rates; the Company’s ability to generate sufficient cash flow from operations and access capital markets to meet its future obligations; coal consumption levels; and the Company’s ability to retain qualified staff and equipment in a cost-efficient manner to meet its demand. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The reader is cautioned not to place undue reliance on forward-looking statements. The Company does not undertake to update any of the forward-looking statements contained in this news release unless required by law. The statements as to the Company’s capacity to achieve revenue are no assurance that it will achieve these levels of revenue.

TANGO ANNOUNCES LOAN FINANCING FOR ACQUISITION OF BK11 MINE

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VANCOUVER, BRITISH COLUMBIA — 29 August 2016 – Tango Mining Limited (“Tango” or the “Company”) (TSXV:TGV) is pleased to announce it has agreed to a non-convertible loan agreement (the “Loan Agreement”) with a number of lenders (the “Lenders”), in order to fund the previously announced acquisition (the “Acquisition”) of the processing facility and mineral rights comprising the Botswana diamond operations of Firestone Diamonds Limited (the “BK11 Mine”), and for general working capital purposes. Pursuant to the Loan Agreement, the Lenders will advance to the Company the aggregate principal amount of US$10,000,000 (the “Loan”). The Loan bears interest at a rate of 12% per annum calculated quarterly in arrears and is payable on demand on or after the first anniversary of the closing date of the Loan.

As consideration for providing the Loan, the Lenders will receive the maximum number of bonus shares allowable under TSX Venture Exchange (“TSXV”) Policy 5.1 – Loans, Loan Bonuses, Finder’s Fees and Commissions, anticipated to be a maximum of 28,771,111 common shares as at the date of this news release. The bonus shares will be issued on a pro-rated basis to each Lender, based on the amount loaned by each Lender. In the event that any issuance of bonus shares would result in the creation of any of the Lenders as a new control person of the Company, such issuance will be subject to the Company having received the requisite shareholder approval. The issuance of bonus shares will be subject to the Company receiving all necessary prior approvals from the TSXV. All bonus shares will be subject to a four month hold period from the date of issuance in accordance with applicable securities laws.

Tango is also pleased to announce that Firestone Diamonds Limited (“Firestone”) has agreed to extend the date by when all conditions for the Acquisition must be satisfied, in order to facilitate the timing of closing of the Loan Agreement with the Acquisition.

As announced on 9 July 2015, the Company entered into a Sale of Shares and Claims Agreement (the “Firestone Agreement”) with Firestone for the Acquisition, for a total consideration of US$8.0 million and, as announced on 13 October 2015, certain terms of the Firestone Agreement were amended by an amendment letter (the “Amendment Letter”).  Pursuant to a further amendment to the Firestone Agreement, conditions of the Firestone Agreement and the Amendment Letter must now be satisfied by no later than 9 September 2016 (the “Revised Drop Dead Date”).

All other terms of the Firestone Agreement, as amended, remain the same and accordingly, if the conditions of the Firestone Agreement and the Amendment Letter are not satisfied or waived by the Revised Drop Dead Date, the Acquisition will not complete.

The proposed US$30 million loan commitment with Vanderbilt Commercial Lending, Inc., which was to be used to finance the acquisition of the BK11 Mine and to recommence operations, as announced on 24 March 2016, has not been completed to date.

About Tango Mining Limited

Tango Mining Limited is a Canadian company that primarily operates in Southern Africa. Tango has completed a positive preliminary economic assessment for the past producing BK11 Kimberlite Diamond Mine, Botswana that could produce in excess of 500K carats over the life of mine and has a short timeline to the restart of production. Tango agreed to acquire from Firestone Diamonds Limited its 100% right in the BK11 Mine, which agreement has not yet closed.

Tango’s Kwena Group have four thermal coal, metallurgical and processing plant and engineering contracts that process 6.5 Mt per annum, with clientele that include Exxaro and Glencore. The four projects are located within the Ogies and Highveld coalfields, Mpumalanga Province and Kliprivier coalfield, KwaZulu-Natal Province, South Africa. The Company’s vision is to become a junior mining company with a focus on diamond mining and development projects.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Mr Terry L. Tucker, P.Geo.

Executive Chairman and Interim CEO

Tango Mining Limited

terry.t@tangomining.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statement

Certain information set forth in this news release contains “forward-looking statements” and “forward-looking information” under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements, which include management’s assessment of future plans and operations and are based on current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as “forecasts”, estimates”, “expects” “anticipates”, “believes”, “projects”, “plans”, “outlook”, “capacity” and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them.

Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to statements with respect to the estimation of mineral resources; the realization of mineral resource estimates; anticipated future production, capital and operating costs; cash flows and mine life; potential size of a mineralized zone; potential expansion of mineralization; potential types of mining operations; permitting timelines; government regulation of exploration and mining operations; risks that the presence of diamond deposits mentioned nearby the Company’s property are not indicative of the diamond mineralization on the Company’s property, the supply and demand for, deliveries of and the level and volatility of prices of rough diamonds, risks that the actual revenues will be less than projected; risks that the target production for the existing mining contracts will be less than projected or expected; risks that production will not commence as projected due to delay or inability to receive governmental approval of the Company’s acquisition or the timely completion of an NI43-101 report; technical problems; inability of management to secure sales or third party purchase contracts; currency and interest rate fluctuations; foreign exchange fluctuations and foreign operations; various events which could disrupt operations, including labor stoppages and severe weather conditions; and management’s ability to anticipate and manage the foregoing factors and risks.

 The forward-looking statements and information contained in this news release are based on certain assumptions regarding, among other things, future prices for coal and diamonds; future currency and exchange rates; the Company’s ability to generate sufficient cash flow from operations and access capital markets to meet its future obligations; coal consumption levels; and the Company’s ability to retain qualified staff and equipment in a cost-efficient manner to meet its demand. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The reader is cautioned not to place undue reliance on forward-looking statements. The Company does not undertake to update any of the forward-looking statements contained in this news release unless required by law. The statements as to the Company’s capacity to achieve revenue are no assurance that it will achieve these levels of revenue.

TANGO ClOSES ADDITIONAL INTEREST IN KWENA GROUP AND CONVERSION OF SECURED LOAN NOTES

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VANCOUVER, BRITISH COLUMBIA — 25 August 2016 – Tango Mining Limited (“Tango” or the “Company”) (TSXV:TGV) is pleased to announce that further to its news release dated 18 August 2016, it has closed the acquisition of an additional 23% interest in the issued and outstanding shares of the Kwena Group increasing Tango’s total interest to 74%. The Kwena Group have four thermal coal, metallurgical and processing plant and engineering contracts that process approximately 6.5 Mt per annum, have over 300 employees and with clientele that include Exxaro and Glencore.

Tango has issued 14,200,000 shares at a deemed price of $0.05 (“Payment Shares“) to acquire the 23% interest in the Kwena Group which have been distributed to four individuals. Kevin Gallagher, a director of Tango, has received 1,300,000 shares of the 14,200,000 common shares, which has increased his total shareholdings in Tango to 15,210,000 common shares, representing 9.72% of the total issued and outstanding shares upon completion of the acquisition.

Conversion  of Secured Convertible Notes

Pursuant to the news releases issued on 22 June 2015 and 18 July 2016, pursuant to which Tango announced a C$525,000 secured 12% convertible notes, all of which notes are convertible into common shares in the capital stock of Tango at a price of C$0.05 per share (the “Convertible Note Financings”). Tango is pleased to announce that C$425,000 of the notes have been converted into common shares of the Company. Tango anticipates paying the interest payable and the balance of the notes in cash received from Bothma Diamonte CC pursuant to Tango’s disposition of its 51% interest in African Star Minerals (Pty) Limited and its 100% owned Oena Mine for US$3 Million as announced on 23 March 2016.

About Tango Mining Limited

Tango Mining Limited is a Canadian company that primarily operates in Southern Africa. Tango has completed a positive preliminary economic assessment for the past producing BK11 Kimberlite Diamond Mine, Botswana that could produce in excess of 500K carats over the life of mine and has a short timeline to the restart of production. Tango agreed to acquire from Firestone Diamonds Limited its 100% right in the BK11 Mine, which agreement has not yet closed.

Tango’s Kwena Group have four thermal coal, metallurgical and processing plant and engineering contracts that process 6.5 Mt per annum, with clientele that include Exxaro and Glencore. The four projects are located within the Ogies and Highveld coalfields, Mpumalanga Province and Kliprivier coalfield, KwaZulu-Natal Province, South Africa. The Company’s vision is to become a junior mining company with a focus on diamond mining and development projects.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Mr Terry L. Tucker, P.Geo.

Executive Chairman and Interim CEO

Tango Mining Limited

terry.t@tangomining.com

The TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has neither approved nor disapproved the contents of this press release.

Forward-Looking Statement

Certain information set forth in this news release contains “forward-looking statements” and “forward-looking information” under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements, which include management’s assessment of future plans and operations and are based on current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as “forecasts”, estimates”, “expects” “anticipates”, “believes”, “projects”, “plans”, “outlook”, “capacity” and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them.

Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to statements with respect to the estimation of mineral resources; the realization of mineral resource estimates; anticipated future production, capital and operating costs; cash flows and mine life; potential size of a mineralized zone; potential expansion of mineralization; potential types of mining operations; permitting timelines; government regulation of exploration and mining operations; risks that the presence of diamond deposits mentioned nearby the Company’s property are not indicative of the diamond mineralization on the Company’s property, the supply and demand for, deliveries of and the level and volatility of prices of rough diamonds, risks that the actual revenues will be less than projected; risks that the target production for the existing mining contracts will be less than projected or expected; risks that production will not commence as projected due to delay or inability to receive governmental approval of the Company’s acquisition or the timely completion of an NI43-101 report; technical problems; inability of management to secure sales or third party purchase contracts; currency and interest rate fluctuations; foreign exchange fluctuations and foreign operations; various events which could disrupt operations, including labor stoppages and severe weather conditions; and management’s ability to anticipate and manage the foregoing factors and risks.

The forward-looking statements and information contained in this news release are based on certain assumptions regarding, among other things, future prices for coal and diamonds; future currency and exchange rates; the Company’s ability to generate sufficient cash flow from operations and access capital markets to meet its future obligations; coal consumption levels; and the Company’s ability to retain qualified staff and equipment in a cost-efficient manner to meet its demand. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The reader is cautioned not to place undue reliance on forward-looking statements. The Company does not undertake to update any of the forward-looking statements contained in this news release unless required by law. The statements as to the Company’s capacity to achieve revenue are no assurance that it will achieve these levels of revenue.

TANGO RECEIVES APPROVAL TO ACQUIRE ADDITIONAL INTEREST IN KWENA GROUP AND APPOINTS CFO

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VANCOUVER, BRITISH COLUMBIA — 12 August 2016 – Tango Mining Limited (“Tango” or the “Company”) (TSXV:TGV) is pleased to announce that that it has received TSX Venture Exchange approval to acquire an additional 23% interest in the issued and outstanding shares of three private South African companies (together referred to as the “Kwena Group“) in which Tango currently owns a 51% interest (see News Release dated 14 July 2016), increasing Tango’s total interest to 74%.

Tango has agreed to issue 14,200,000 shares at a deemed price of $0.05 (“Payment Shares“) to acquire the 23% interest in the Kwena Group, which will be distributed to four individuals. Kevin Gallagher, a director of Tango, will receive 1,300,000 shares of the 14,200,000 common shares, which will increase his total shareholdings in Tango to 15,210,000 common shares, representing 9.72% of the total issued and outstanding shares upon completion of the acquisition.

Tango and the four individuals have agreed: (i) to restrict the number of Payment Shares tradable on any given day; and (ii) to impose a twenty-four-month escrow period, whereby ten percent of the Payment Shares shall be free trading (subject to a regulatory four month hold period) at closing, and subsequently thereafter, thirty percent shall be released at each six-month interval over 18 months.

The Kwena Group transaction is expected to close shortly and a further announcement will be made when complete.

Appointment of Chief Financial Officer

Tango also announces the appointment of Simon van der Loo as Chief Financial Officer of the Company, effective 1 August 2016, in place of Kalyan Paul who resigned due to other commitments. Mr. van der Loo is a qualified charted accountant and registered with the South African Institute of Charted Accountants. He has 14 years’ experience which includes professional services serving the mining, agricultural, environmental and information technology sectors local as well as international. He worked for 10 years with Ernst & Young as an Audit Senior Manager and three years as finance director for a supply chain focused subsidiary of a major copper project in the Democratic Republic of the Congo. With Tango’s continued growth in southern Africa Mr. van der Loo is a very welcome addition to the team.

About Tango Mining Limited

Tango Mining Limited is a Canadian company that primarily operates in Southern Africa. Tango has completed a positive preliminary economic assessment for the past producing BK11 Kimberlite Diamond Mine, Botswana that could produce in excess of 500K carats over the life of mine and has a short timeline to the restart of production. Tango agreed to acquire from Firestone Diamonds Limited its 100% right in the BK11 Mine, which agreement has not yet closed.

Tango’s Kwena Group have four thermal coal, metallurgical and processing plant and engineering contracts that process 6.5 Mt per annum, with clientele that include Exxaro and Glencore. The four projects are located within the Ogies and Highveld coalfields, Mpumalanga Province and Kliprivier coalfield, KwaZulu-Natal Province, South Africa. The Company’s vision is to become a junior mining company with a focus on diamond mining and development projects.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Mr Terry L. Tucker, P.Geo.

Executive Chairman and Interim CEO

Tango Mining Limited

terry.t@tangomining.com

The TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has neither approved nor disapproved the contents of this press release.

Forward-Looking Statement

Certain information set forth in this news release contains “forward-looking statements” and “forward-looking information” under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements, which include management’s assessment of future plans and operations and are based on current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as “forecasts”, estimates”, “expects” “anticipates”, “believes”, “projects”, “plans”, “outlook”, “capacity” and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them.

Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to statements with respect to the estimation of mineral resources; the realization of mineral resource estimates; anticipated future production, capital and operating costs; cash flows and mine life; potential size of a mineralized zone; potential expansion of mineralization; potential types of mining operations; permitting timelines; government regulation of exploration and mining operations; risks that the presence of diamond deposits mentioned nearby the Company’s property are not indicative of the diamond mineralization on the Company’s property, the supply and demand for, deliveries of and the level and volatility of prices of rough diamonds, risks that the actual revenues will be less than projected; risks that the target production for the existing mining contracts will be less than projected or expected; risks that production will not commence as projected due to delay or inability to receive governmental approval of the Company’s acquisition or the timely completion of an NI43-101 report; technical problems; inability of management to secure sales or third party purchase contracts; currency and interest rate fluctuations; foreign exchange fluctuations and foreign operations; various events which could disrupt operations, including labor stoppages and severe weather conditions; and management’s ability to anticipate and manage the foregoing factors and risks.

The forward-looking statements and information contained in this news release are based on certain assumptions regarding, among other things, future prices for coal and diamonds; future currency and exchange rates; the Company’s ability to generate sufficient cash flow from operations and access capital markets to meet its future obligations; coal consumption levels; and the Company’s ability to retain qualified staff and equipment in a cost-efficient manner to meet its demand. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The reader is cautioned not to place undue reliance on forward-looking statements. The Company does not undertake to update any of the forward-looking statements contained in this news release unless required by law. The statements as to the Company’s capacity to achieve revenue are no assurance that it will achieve these levels of revenue. 

TANGO ANNOUNCES EXTENSION FOR ACQUISITION OF BK11 MINE

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VANCOUVER, BRITISH COLUMBIA — 29 July 2016 – Tango Mining Limited (“Tango” or the “Company”) (TSXV:TGV) is pleased to announce that Firestone Diamonds Limited (“Firestone”), has agreed to extend the date by when all conditions for the Company’s acquisition of Firestone’s past producing BK11 Kimberlite Diamond Mine (“BK11 Mine”), Botswana (the “Acquisition”) must be satisfied.

As announced on 9 July 2015, the Company entered into a Sale of Shares and Claims Agreement (“Firestone Agreement”) with Firestone for the Acquisition, for a total consideration of US$8.0 million and, as announced on 13 October 2015, certain terms of the Firestone Agreement were amended by an amendment letter (the “Amendment Letter”). Pursuant to a further amendment of the Firestone Agreement, conditions of the Firestone Agreement and the Amendment Letter must now be satisfied by no later than 29 August 2016 (the “Revised Drop Dead Date”).

This extension is to enable the Company to finalise the proposed US$30 million loan commitment with Vanderbilt Commercial Lending, Inc. to finance the acquisition of Firestone’s Botswana operations and to recommence operations at the BK11 Mine, as announced on 24 March 2016.

All other terms of the Firestone Agreement remain the same and accordingly, if the conditions of the Firestone Agreement and Amendment Letter are not satisfied or waived by the Revised Drop Dead Date, the Acquisition will not complete.

Firestone Acquisition Agreement Terms

The Firestone Agreement grants Tango the right to acquire 100% of Firestone’s right in the processing facility, and interest and title in the mineral rights comprising the BK11 Mine, held directly or indirectly, through Firestone’s 100% owned subsidiary, Firestone Diamonds Botswana (Pty) Limited (“Firestone Botswana”), and Firestone’s 90% owned subsidiary, Monak Ventures (Pty) Limited (“Monak”) for total consideration of US$8.0M, of which US$350,000 has been paid, plus accrued care and maintenance fees Tango has also entered into a Sale of Shares of Claims Agreement to acquire the remaining 10% interest in Monak from Tema Thuo (Pty) Ltd. (“Tema Thuo Agreement”) for total consideration of US$800,000. The Tema Thuo Agreement has also been amended and the deadline for closing the acquistion has also been extended to the 29 August 2016 (the “Tema Thou Closing”). The Tema Thuo Agreement will be conditional on closing of the Firestone Agreement (the “Firestone Closing”).

The Botswana Competition Authority granted unconditional approval on the 28 September 2015 for the transaction and approval by the by the Botswana Minister of Minerals, Energy and Water Resources was granted on the 18 April 2016 for transfer of the ownership of Monak, which holds Mining Licence No. 2010/59L, to the Company.

Tango has received conditional approval from the TSX Venture Exchange (the “Exchange”) regarding the Firestone Agreement. The Firestone Closing and the Tema Thuo Closing are subject to final acceptance of the Exhange.

About Tango Mining Limited

Tango Mining Limited is a Canadian company that primarily operates in southern Africa. Tango has completed a positive preliminary economic assessment for the past producing BK11 Kimberlite Diamond Mine, Botswana that could produce in excess of 500K carats over the life of mine and has a short timeline to re start of production. Tango agreed to acquire from Firestone Diamonds Limited its 100% right in the BK11 Mine, which agreement has not yet closed.

Tango’s Kwena Group have four thermal coal, metallurgical and processing plant and engineering contracts that process 6.5 Mt per annum, with clientele that include Exxaro and Glencore. The four projects are located within the Ogies and Highveld coalfields, Mpumalanga Province and Kliprivier coalfield, KwaZulu-Natal Province, South Africa. The Company’s vision is to become a junior mining company with a focus on diamond mining and development projects.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Mr. Terry L. Tucker, P.Geo.

Executive Chairman and Interim CEO

Tango Mining Limited

terry.t@tangomining.com

The TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has neither approved nor disapproved the contents of this press release.

Forward-Looking Statement

Certain information set forth in this news release contains “forward-looking statements” and “forward-looking information” under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements, which include management’s assessment of future plans and operations and are based on current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as “forecasts”, estimates”, “expects” “anticipates”, “believes”, “projects”, “plans”, “outlook”, “capacity” and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: risks that the presence of diamond deposits mentioned nearby the Company’s property are not indicative of the diamond mineralization on the Company’s property, the supply and demand for, deliveries of and the level and volatility of prices of rough diamonds, risks that the actual revenues will be less than projected; risks that the target production for the existing mining contracts will be less than projected or expected; risks that production will not commence as projected due to delay or inability to receive governmental approval of the Company’s acquisition or the timely completion of a NI43-101 report; technical problems; inability of management to secure sales or third party purchase contracts; currency and interest rate fluctuations; foreign exchange fluctuations and foreign operations; various events which could disrupt operations, including labor stoppages and severe weather conditions; and management’s ability to anticipate and manage the foregoing factors and risks. The forward-looking statements and information contained in this news release are based on certain assumptions regarding, among other things, future prices for coal and diamonds; future currency and exchange rates; the Company’s ability to generate sufficient cash flow from operations and access capital markets to meet its future obligations; coal consumption levels; and the Company’s ability to retain qualified staff and equipment in a cost-efficient manner to meet its demand. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The reader is cautioned not to place undue reliance on forward-looking statements. The Company does not undertake to update any of the forward-looking statements contained in this news release unless required by law. The statements as to the Company’s capacity to achieve revenue are no assurance that it will achieve these levels of revenue.

 

 

TANGO ANNOUNCES PRIVATE PLACEMENT AND PROVIDES FINANCIAL UPDATE

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VANCOUVER, BRITISH COLUMBIA — 18 July 2016 – Tango Mining Limited (“Tango”) (TSX.V:TGV) is pleased to announce the following:

Convertible Notes Received

Tango has received loans totalling C$410,182.50, pursuant to which the lenders have the option to convert the principal into units of Tango at the discretion of the lenders. Each unit shall consist of one common share at a price of $0.05 per share and one share purchase warrant to purchase one additional common share at a price of $0.10 per share, which warrants shall be for a term of two years. The loans bear interest at the rate of 12% per annum and are due on dates ranging from 30 October 2016 to 31 December 2016. Interest payable under the loans may be settled by the issuance of common shares at a price not below the trading market price at the time the interest is payable. In connection with the loans, Tango has agreed to issue a maximum of 1,640,730 bonus shares at a deemed price of $0.05 per share and/or 8,203,650 share purchase warrants for a term of two years at an exercise price of $0.05 per share. The convertible notes and bonus shares and/or warrants are subject to the approval of the TSX Venture Exchange.

Extension of Secured and Unsecured Convertible Notes

Pursuant to the news releases issued on 17 June 2015 and 22 June 2015, pursuant to which Tango announced an unsecured 10% convertible note for US$500,000 and C$525,000 in secured 12% convertible notes, all of which notes are convertible into common shares in the capital stock of Tango at a price of C$0.05 per share (the “Convertible Note Financings”), the note holders have agreed to extend the term of the convertible notes from 22 June 2016 to 22 August 2016.  Tango anticipates paying the notes in cash received from Bothma Diamonte CC pursuant to Tango’s disposition of its 51% interest in African Star Minerals (Pty) Limited and its 100% owned Oena Mine or US$3 Million as announced on 23 March 2016. The first payment of US$1 Million is expected on or before 17 August 2016.

Extension of Share Purchase Warrants

Tango has extended the expiry date on 4,000,000 share purchase warrants from 2 March 2017 to 2 March 2020, subject to approval of the TSX Venture Exchange. The warrants are exercisable at a price of $0.10 per share. Terry Tucker, a director and officer of Tango, holds 1,500,000 of the share purchase warrants.

C$3 Million Private Placement

Tango announces a private placement of up to 60,000,000 units at a price of $0.05 per unit. Each unit shall consist of one common share and one share purchase warrant to purchase one additional common share at a price of $0.10 per share, exercisable for a period of two years from the date of grant. The funds raised from the private placement will be used to fund ongoing working capital and to settle indebtedness. The private placement is subject to approval by the TSX Venture Exchange.

Grant of Stock Options

Tango has granted to certain officers and consultants, stock options to purchase up to an aggregate of 1,650,000 common shares, which options are exercisable for a term of five years at an exercise price of $0.05 per share.

Finder’s Fee Warrants

Tango advises that, in addition to the cash finder’s fees of $16,500 and US$30,000 that were paid in connection with the Convertible Note Financings, an aggregate of 1,068,000 finder’s fee warrants are to be issued (the “Finder’s Warrants”), subject to the approval of the TSX Venture Exchange. The Finder’s Warrants are exercisable at a price of C$0.05 per share, expiring on 22 June 2017.

About Tango Mining Limited

Tango Mining Limited is a Canadian company that primarily operates in Southern Africa. Tango has completed a positive preliminary economic assessment for the past producing BK11 Kimberlite Diamond Mine, Botswana that could produce in excess of 500K carats over the life of mine and has a short timeline to re start of production. Tango agreed to acquire from Firestone Diamonds Limited its 100% right in the BK11 Mine, which agreement has not yet closed.

Tango’s Kwena Group have four thermal coal, metallurgical and processing plant and engineering contracts that process 6.5 Mt per annum, with clientele that include Exxaro and Glencore. The four projects are located within the Ogies and Highveld coalfields, Mpumalanga Province and Kliprivier coalfield, KwaZulu-Natal Province, South Africa. The Company’s vision is to become a junior mining company with a focus on diamond mining and development projects.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Mr. Terry L. Tucker, P.Geo.

Executive Chairman and Interim CEO

Tango Mining Limited

terry.t@tangomining.com

The TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has neither approved nor disapproved the contents of this press release.

Forward-Looking Statement

Certain information set forth in this news release contains “forward-looking statements” and “forward-looking information” under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements, which include management’s assessment of future plans and operations and are based on current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as “forecasts”, estimates”, “expects” “anticipates”, “believes”, “projects”, “plans”, “outlook”, “capacity” and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them.

Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: statements with respect to the estimation of mineral resources; the realization of mineral resource estimates; anticipated future production, capital and operating costs; cash flows and mine life; potential size of a mineralized zone; potential expansion of mineralization; potential types of mining operations; permitting timelines; government regulation of exploration and mining operations; risks that the presence of diamond deposits mentioned nearby the Company’s property are not indicative of the diamond mineralization on the Company’s property, the supply and demand for, deliveries of and the level and volatility of prices of rough diamonds, risks that the actual revenues will be less than projected; risks that the target production for the existing mining contracts will be less than projected or expected; risks that production will not commence as projected due to delay or inability to receive governmental approval of the Company’s acquisition or the timely completion of a NI43-101 report; technical problems; inability of management to secure sales or third party purchase contracts; currency and interest rate fluctuations; foreign exchange fluctuations and foreign operations; various events which could disrupt operations, including labor stoppages and severe weather conditions; and management’s ability to anticipate and manage the foregoing factors and risks.

The forward-looking statements and information contained in this news release are based on certain assumptions regarding, among other things, future prices for coal and diamonds; future currency and exchange rates; the Company’s ability to generate sufficient cash flow from operations and access capital markets to meet its future obligations; coal consumption levels; and the Company’s ability to retain qualified staff and equipment in a cost-efficient manner to meet its demand. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The reader is cautioned not to place undue reliance on forward-looking statements. The Company does not undertake to update any of the forward-looking statements contained in this news release unless required by law. The statements as to the Company’s capacity to achieve revenue are no assurance that it will achieve these levels of revenue. 

 

 

TANGO ACQUIRES ADDITIONAL 23% INTEREST IN KWENA GROUP

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VANCOUVER, BRITISH COLUMBIA — 14 July 2016 – Tango Mining Limited (“Tango” or the “Company”) (TSXV:TGV) is pleased to announce that that it has entered into a non arms-length acquisition agreement to acquire an additional 23% interest in the issued and outstanding shares of three private South African companies (together referred to as the “Kwena Group“) in which Tango currently owns a 51% interest (see News Release dated 20 October 2014), increasing Tango’s total interest to 74%. Tango has agreed to issue 14,200,000 shares at a deemed price of $0.05 (“Payment Shares“) to acquire the 23% interest in the Kwena Group.

The 14,200,000 shares will be distributed to four individuals. Kevin Gallagher, a director of Tango, will receive 1,300,000 shares of the 14,200,000 common shares, which will increase his total shareholdings in Tango to 15,210,000 common shares, representing 9.72% of the total issued and outstanding shares upon completion of the acquisition.

Each of the three Kwena Group companies qualify as being “BEE Compliant”, namely, that they are in compliance with South Africa’s Black Economic Empowerment (“BEE”) regimes and the BEE partner holds the remaining 26% interest in each of the three Kwena Group companies.

Tango and the Kwena Group have agreed: (i) to restrict the number of Payment Shares tradable on any given day; and (ii) to impose a twenty-four-month escrow period, whereby ten percent of the Payment Shares shall be free trading (subject to a regulatory four month hold period) at closing, and subsequently thereafter, thirty percent shall be released at each six-month interval over 18 months.

The Kwena Group transaction is subject to receipt of the approval of the TSX Venture Exchange.

About the Kwena Group

The Kwena Group holds three “Operation and Maintenance of Coal Processing Plant Contracts” in respect of three mutually exclusive coal operating and production collieries located within the Ogies and Highveld coalfields, Mpumalanga Province and a “Service and Supply Agreement” in respect of a colliery located in the Kliprivier coalfield, KwaZulu-Natal Province, South Africa. (collective the four agreements are the “Operations Service Contracts“). Kwena Group revenue for the twelve-month period ending the 31 August 2015 was $13,827,983 and revenue for the six-month period ending 28 February 2016 was $6,715,386.

The Kwena Group companies includes Kwena Mining Projects (Pty) Limited (“KMP”), which holds a 100% interest in three contracts for services among KMP and Exxarro, owner of the (i) Dorstfontein East colliery, (ii) Dorstfontein West colliery and (iii) Forzando colliery. The three contracts have all been renewed until the 31 December 2016. The second Kwena Group company, Kwena Springlake Projects Proprietary Limited (“KSPPL”) holds a 100% interest in a contract with a subsidiary of Glencore which owns the Springlake coal colliery. As announced in a News Release dated 6 June 2016 the Service Supply Agreement in respect of the Glencore managed Springlake Colliery Plant Operation was renewed to the 18 May 2017.

Tango and the Kwena Group have a continued development plan in place to grow the business using the successful past 19-year business model, an established market presence and its proven successful operational reputation in the coal, base and precious metal and precious stone Southern African mining sector.

About Tango Mining Limited

Tango Mining Limited is a Canadian company that primarily operates in Southern Africa. Tango has completed a positive preliminary economic assessment for the past producing BK11 Kimberlite Diamond Mine, Botswana that could produce in excess of 500K carats over the life of mine and has a short timeline to re start of production. Tango agreed to acquire from Firestone Diamonds Limited its 100% right in the BK11 Mine, which agreement has not yet closed.

Tango’s Kwena Group have four thermal coal, metallurgical and processing plant and engineering contracts that process 6.5 Mt per annum, with clientele that include Exxaro and Glencore. The four projects are located within the Ogies and Highveld coalfields, Mpumalanga Province and Kliprivier coalfield, KwaZulu-Natal Province, South Africa. The Company’s vision is to become a junior mining company with a focus on diamond mining and development projects.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Mr. Terry L. Tucker, P.Geo.

Executive Chairman and Interim CEO

Tango Mining Limited

terry.t@tangomining.com

The TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has neither approved nor disapproved the contents of this press release.

Forward-Looking Statement

Certain information set forth in this news release contains “forward-looking statements” and “forward-looking information” under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements, which include management’s assessment of future plans and operations and are based on current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as “forecasts”, estimates”, “expects” “anticipates”, “believes”, “projects”, “plans”, “outlook”, “capacity” and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them.

Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: statements with respect to the estimation of mineral resources; the realization of mineral resource estimates; anticipated future production, capital and operating costs; cash flows and mine life; potential size of a mineralized zone; potential expansion of mineralization; potential types of mining operations; permitting timelines; government regulation of exploration and mining operations; risks that the presence of diamond deposits mentioned nearby the Company’s property are not indicative of the diamond mineralization on the Company’s property, the supply and demand for, deliveries of and the level and volatility of prices of rough diamonds, risks that the actual revenues will be less than projected; risks that the target production for the existing mining contracts will be less than projected or expected; risks that production will not commence as projected due to delay or inability to receive governmental approval of the Company’s acquisition or the timely completion of a NI43-101 report; technical problems; inability of management to secure sales or third party purchase contracts; currency and interest rate fluctuations; foreign exchange fluctuations and foreign operations; various events which could disrupt operations, including labor stoppages and severe weather conditions; and management’s ability to anticipate and manage the foregoing factors and risks.

The forward-looking statements and information contained in this news release are based on certain assumptions regarding, among other things, future prices for coal and diamonds; future currency and exchange rates; the Company’s ability to generate sufficient cash flow from operations and access capital markets to meet its future obligations; coal consumption levels; and the Company’s ability to retain qualified staff and equipment in a cost-efficient manner to meet its demand. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The reader is cautioned not to place undue reliance on forward-looking statements. The Company does not undertake to update any of the forward-looking statements contained in this news release unless required by law. The statements as to the Company’s capacity to achieve revenue are no assurance that it will achieve these levels of revenue.