News Releases

February 26, 2008
Tsodilo Resources Limited Awarded Key Diamond Exploration Licenses in Botswana
TORONTO, ONTARIO - Tsodilo Resources Limited ("Tsodilo" or the "Company") (TSX Venture Exchange: TSD) is pleased to report that the Botswana Geological Survey has now granted five Prospecting License ("PL") No. 046 / 2007 -- No. 052 / 2007 to the Company's local, wholly-owned operating subsidiary Gcwihaba Resources (Pty) Ltd. "Gcwihaba"). These license areas are situated north and east of the Company's current Newdico (Pty) Ltd. ("Newdico") diamond licenses in the Ngamiland area of northwest Botswana.

In Botswana, which remains the world's leading producer of diamonds by value, the northwest corner of the country is rapidly developing into a very active diamond exploration play, reflected by a surge of exploration activity and new Prospecting Licenses. The Company's Newdico and Gcwihaba licenses are adjacent to claims recently acquired by DeBeers Prospecting Botswana Pty Limited in Botswana, and that Company's affiliate, Namdeb Diamond Corporation (Pty) Limited, in neighboring Namibia. The activity in northwest Botswana has been stimulated in part by an increasing consensus that the Congo craton, which hosts important economic diamond deposits, extends into northwest Botswana. Furthermore, this area is strategically located close to two major secondary surface concentrations of diamonds and G10 garnets in the vicinity of Omatako and Tsumkwe, to the west of the Company's licenses in Namibia.

Initial target selection in these license areas was based upon screening of remote sensing and aeromagnetic data as well as geochemical data. The initial target selection was performed by Dr. Christopher M. H. Jennings during his tenure as Chairman of the Company, and was further defined, refined and prioritized by Scott Hogg of Scott Hogg & Associates Ltd., a Toronto-based geophysical contractor. The new license blocks contain numerous clusters of bulls-eye circular features aligned along several lineaments. These features possess characteristics closely comparable to those associated with known Kalahari kimberlites and other kimberlites discovered by the Company in our adjoining license blocks.

According to James M. Bruchs, President and CEO, "We are delighted to have been granted these key diamond licenses in Botswana, which represents the world's leading source of high-quality diamonds and has been recognized for its favorable exploration and investment climates. These new licenses complete our acquisition of licenses in northwest Botswana. We are the largest license holder in Ngamiland with approximately 25,000 square kilometers under license and we remain confident that the kimberlite sources of the two sizeable secondary surface concentrations of diamonds and G10 garnets which lie down slope to the west of the Company's licenses area will prove to be situated within the Company's prospecting licenses. We are not alone in this area as DeBeers in one form or another has adjoining licenses to the east, north and west of our property and with nothing of (kimberlite) significance to the south of us, we feel pretty good about where we are."

In the past year, the linkages between magnetotellurics, other geophysical variables and kimberlite occurrences and it's applicability to the Company's license areas in northwest Botswana have been examined. In particular, recent studies on resistivity have been examined to evaluate the correlation between the at depth resitivity values, associated lithospheric temperatures and diamondiferous kimberlite occurrences in order to find correlations in our license blocks similar to those of known economic kimberlites. The work shows that there is a correlation of certain values for diamondiferous kimberlites as shown by the Resistivity and Temperature maps at a 200 kilometer depth in relation to high resistivity value areas and low temperature. These values were then applied to areas where there are good magnetotellurics indications of areas where the Angolan / Congo craton was subducted under the Damara Mobile Belt. The Company's preliminary study showed that one of the areas where these factors all coincided was in the new license blocks that adjoin those of DeBeers Prospecting Ltd. in Botswana. The Company's geophysical survey personnel recently commenced a ground magnetic survey over this area and have found that magnetic targets not apparent on existing aero-magnetic data are clearly visible. These magnetic targets are similar to those of other known kimberlites previously discovered in the Company's license blocks. "The news is good and our hard work and the use of data resulting from the application of the new technology are paying off. It is one thing to be on a craton edge or margin but it is quite another to be where the archean part of the craton exists and we have reason to believe we are", comments Mr. Bruchs. When conditions permit, the Company will relocate its drilling rig to the these new licensing areas for exploratory drilling, with the goal of adding promising further candidates to the already significant number of kimberlites that have been identified for further sampling and analysis.

Tsodilo Resources Limited is an international diamond exploration company engaged in the search for economic kimberlites at its Newdico (Pty) Limited ("Newdico') and Gcwihaba Resources (Pty) Limited ("Gcwihaba") projects in northwest Botswana. The Republic of Botswana is the leading producer of diamonds, by value, in the world and the world's second-largest producer by volume. Its mines are amongst the most profitable in the world and they are a member of the Kimberley Process Certification Scheme (KPCS) which imposes extensive requirements on its members to enable them to certify shipments of rough diamonds as 'conflict-free'. The country is democratically ruled, boasting a growing economy and a stable political environment.

The Company has an 93% stake in Newdico (16,800 square kilometers under diamond license) while Trans Hex Group, a South African diamond mining and marketing company, holds the remaining 7%. The southern and northern Gcwihaba project area (7,500 square kilometers under diamond license and 3,800 square kilometers under base and precious metals licenses) is 100% held by the Company. Tsodilo manages the exploration of both the Newdico and Gcwihaba license areas. Overall project supervision of the Company's exploration program is the responsibility of Macdonald Kahari, Pr. Sci. Nat., B.Sc. (Physics and Geology), M.Sc. (Exploration Geophysics), a qualified professional registered with the South African Council for Natural Scientific Professions and a Qualified Person under NI 43-101 and he has reviewed and approved the contents of this release. The Company has offices in Toronto, Canada and Gaborone and Maun, Botswana. Please visit the Company's website, www.TsodiloResources.com, for additional information and background on our projects.

The TSX Venture Exchange has not reviewed and does not accept 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 - President and Chief Executive Officer
E-Mail - JBruchs@TsodiloResources.com
Head Office - Telephone +1 416 572 2033 Facsimile + 1 416 987 4369
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Tsodilo Resources Limited
Canada Trust Tower, BCE Place
161 Bay Street, P.O. Box 508
Toronto, ON Canada M5J 2S1
Telephone: (416) 572-2033
Fax: (416) 987-4369
Website: www.TsodiloResources.com/
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