News Releases

July 31, 2002
Change Of Trading Symbol And Technical Update
Tsodilo Resources Limited (CDNX: TSD) is pleased to announce that trading of its common shares on the TSX Venture Exchange commenced today under the symbol: TSD (CUSIP Number: 898530 10 0).

Tsodilo is also happy to report that further results have been received from the processing of soil samples collected on the 5km x 5km grid over the Ngamiland diamond property in northwest Botswana. This regional sampling program represents the first systematic sampling programme ever carried out over the recently recognized southern extension of the Congo craton that underlies the Ngamiland property. Kimberlitic indicator minerals ("KIMs") have been recovered within the subtle Guma KIM anomaly, located in the east of the property. This anomaly is associated with a group of isolated bulls-eye magnetic targets, comparable with known kimberlites. Previous sampling of a number of these magnetic anomalies by Tsodilo and Reunion indicated a diffuse scatter picroilmenite and pyrope in the Guma area. These earlier results are discussed in detail in a background report that is available on the Company's website.

The new data includes the recovery of seven pyrope kimberlitic garnets (in the +300µm and +425µm size fractions) from six samples. Two additional samples each produced singleton +425µm picroilmenites, and one a singleton +300µm picroilmenite. A further sample yielded a pyrope garnet and a picroilmenite, both in the +300µm size fractions. Descriptions of the surface textures of these kimberlitic minerals should be available shortly. Mineralogical examination of outstanding samples has identified a further +425µm garnet, described as angular with a sub-kelyphitic surface, from the Guma area. This has been submitted for microprobe analysis. To complement the regional 5km x 5km sampling programme, Tsodilo has taken samples over additional magnetic targets in the Guma area. A singleton +425µm pyrope garnet, described as sub-angular, with a sub-kelyphitic surface, has been recovered over the A19 magnetic anomaly, which has an estimated source diameter of 700m. A sub-rounded garnet has been recovered over the A44 magnetic anomaly.

The limited available surface texture descriptions of the garnets, and their occurrence in association with picroilmenites, are consistent with a proximal source for the unexplained Guma KIM anomaly. The bulls-eye magnetic targets within the Guma area therefore represent potential sources of these KIMs. A geomorphological model developed by Tsodilo suggests that kimberlites in this area could represent a source for the unexplained G10 and diamond anomalies in northeastern Namibia.

Tsodilo Resources is an international diamond exploration company engaged in the search for economic kimberlites at its Ngamiland project in northwest Botswana. The design and conduct of the Company's exploration program is the responsibility of Dr. Andrew Moore, a professional geologist registered with the South African Council for Natural Scientific Professions.

FOR FURTHER INFORMATION PLEASE CONTACT:

James M. Bruchs -- President and Chief Executive Officer: E-Mail jbruchs@tsodiloresources.com

Dr. Andrew E. Moore -- Vice President, Exploration: E-Mail amoore@tsodiloresources.com

Stephen Woodhead -- Chief Financial Officer and Corporate Secretary: E-Mail swoodhead@tsodiloresources.com

Head Office:
Telephone +1 416 572 2033
Facsimile + 1 416 572 4164
COREBOX
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/
Email: