VANCOUVER, BRITISH COLUMBIA — 3 March 2015 – Tango Mining Limited (“Tango” or the “Company”) (TSXV:TGV) is pleased to announce that it has now completed its $200,000 non-brokered private placement announced on February 25, 2015. The Company issued a total of 4,000,000 units (“Units”) at a price of $0.05 per Unit for gross proceeds of $200,000 (the “Financing”). Each Unit consisted of one common share (a “Share”) and one transferable share purchase warrant (a “Warrant”) to purchase an additional Share at a price of $0.10 for a period of 24 months, expiring on March 2, 2017. All securities issued in connection with the Financing are subject to a four month and one day hold period expiring on July 3, 2015.
The net proceeds of the Financing are for general working capital and corporate purposes.
About Tango Mining Limited
Tango Mining Limited is a Canadian company that recently acquired African Star Minerals Group’s (“ASM or African Star”) operations in South Africa. Tango has four thermal coal, metallurgical and processing plant and engineering contracts that process 6.5 million tonnes per annum (19.5 million tonnes are contracted over next 3 years), with clientele that include Total (SA) and Glencore plc. The four projects are located within the Ogies and Highveld coalfields, Mpumalanga Province and Kliprivier coalfield, KwaZulu-Natal Province. The Company also holds a 100% interest in the Oena Project, a past producing alluvial diamond property, Northern Cape Province, South Africa and a 100% interest in the 2,088.8 ha El Santo Project, Nicaragua. The Company`s vision is to become a diversified junior mining company with interests in precious and base metals, coal, diamond and precious stone mining projects
FOR FURTHER INFORMATION PLEASE CONTACT:
| Mr. Terry L. Tucker, P.Geo.
Executive Chairman Tango Mining Limited |
Mr. Marco Möller
President and CEO Tango Mining Limited |
The TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.