Tsodilo Resources Limited Annual Meeting Results

Rhea-AI Summary

Tsodilo Resources Limited (TSXV: TSD) (OTCQB: TSDRF) announced the results of its Annual General Meeting held on May 30, 2025. The company elected three directors: James M. Bruchs, Jonathan R. Kelafant, and Blackie Marole. Shareholders approved Jones & O'Connell, LLP of St. Catharines, Ontario as the company's auditors. Additionally, Tsodilo granted stock options to ten individuals, including directors, employees, and advisors, totaling 950,000 common shares exercisable at CDN$ 0.15. These options will vest 25% on June 2, 2025, with additional 25% vesting at six, twelve, and eighteen months after the grant date. The options have a five-year validity period.

Toronto, Ontario--(Newsfile Corp. - May 30, 2025) - Tsodilo Resources Limited (TSXV: TSD) (OTCQB: TSDRF) (FSE: TZO) ("Tsodilo" or the "Company") is pleased to announce that at its Annual General Meeting of shareholders held on May 30, 2025, the following directors were elected: James M. Bruchs, Jonathan R. Kelafant and Blackie Marole.

Appointment of Auditors
The shareholders approved the appointment of Jones & O'Connell, LLP, St. Catharines, Ontario, as auditors of the Company.

Grant of Stock Options
Under the terms of its Stock Option Plan, Tsodilo granted incentive stock options to ten individuals consisting of directors, employees and advisors to purchase an aggregate of 950,000 common shares of Tsodilo exercisable at CDN$ 0.15. These options vest as to 25% effective June 2, 2025, and 25% on each of the sixth, twelfth and eighteenth-month anniversaries of the date of the grant. The options are valid for five years.

About Tsodilo Resources Limited
Tsodilo Resources Limited is an international resource exploration company engaged in the search for economic metal deposits at its Gcwihaba Resources (Pty) Limited ("Gcwihaba") projects in Botswana. The Company has a 100% stake in its Gcwihaba project area consisting of five metal (base, precious, platinum group, and rare earth) prospecting licenses all located in the North-West district of Botswana.

This press release may contain forward-looking statements. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements pertaining to the use of proceeds, the impact of strategic partnerships and statements that describe the Company's future plans, objectives or goals) are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, changes in equity markets, changes in general economic conditions, market volatility, political developments in Botswana and surrounding countries, changes to regulations affecting the Company's activities, uncertainties relating to the availability and costs of financing needed in the future, exploration and development risks, the uncertainties involved in interpreting exploration results and the other risks involved in the mineral exploration business. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not a guarantee of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, uncertainties relating to availability and cost of funds, timing and content of work programs, results of exploration activities, interpretation of drilling results and other geological data, risks relating to variations in the diamond grade and kimberlite lithologies; variations in rates of recovery and breakage; estimates of grade and quality of diamonds, variations in diamond valuations and future diamond prices; the state of world diamond markets, reliability of mineral property titles, changes to regulations affecting the Company's activities, delays in obtaining or failure to obtain required project approvals, operational and infrastructure risk and other risks involved in the diamond exploration and development business. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward- looking statements are reasonable, forward-looking statements are not a guarantee of future performance and accordingly undue reliance should not be put on such statements due to their inherent uncertainty.

Neither the TSX Venture Exchange ("TSXV") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts 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
Chairman and Chief Executive Officer
JBruchs@TsodiloResources.com

Head Office
Telephone +1 416 572 2033
Facsimile + 1 416 987 4369
Website http://www.TsodiloResources.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/254034

FAQ

Who were elected as directors at Tsodilo Resources (TSDRF) 2025 Annual Meeting?

James M. Bruchs, Jonathan R. Kelafant, and Blackie Marole were elected as directors at Tsodilo Resources' 2025 Annual Meeting.

What are the details of Tsodilo Resources' (TSDRF) 2025 stock option grant?

Tsodilo granted 950,000 common shares at CDN$ 0.15 to ten individuals, vesting 25% on June 2, 2025, and 25% every six months thereafter, with a five-year validity period.

Who was appointed as Tsodilo Resources' (TSDRF) auditor for 2025?

Jones & O'Connell, LLP from St. Catharines, Ontario was appointed as Tsodilo Resources' auditor.

What is the vesting schedule for Tsodilo Resources' (TSDRF) 2025 stock options?

The options vest 25% on June 2, 2025, and additional 25% on each of the sixth, twelfth, and eighteenth-month anniversaries of the grant date.