TORONTO, ONTARIO - Nov. 24, 2004 - Tsodilo Resources Limited (TSX Venture Exchange:TSD) is pleased to announce the closing of the private placement previously announced on October 20th, 2004.

In a non-brokered private placement, 53,336 units of the Company (the "Units") were issued at a price of $2.35 per Unit for proceeds to the Company of $125,340.00. Each Unit consists of one common share of the Company and half a warrant of the Company, each full such warrant entitling the holder to purchase one common share of the Company at a price of $2.35 for a period of two years. Proceeds from this financing will be added to the Company's working capital.

The common shares, warrants and warrant shares are subject to a hold period of 12 months as agreed to by the parties, expiring on November 8th, 2005 and the certificates evidencing such securities will bear a legend to that effect.

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

Please visit the 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, that may cause actual results or performance to differ materially from those currently anticipated in such statements.

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FOR FURTHER INFORMATION PLEASE CONTACT:
Tsodilo Resources Limited
James M. Bruchs
President and Chief Executive Officer
(416) 800-4214
(416) 572-4164 (FAX)
E-mail JBruchs@TsodiloResources.com
or
Tsodilo Resources Limited
Peter W.A. Walker
Vice President, Exploration
(416) 800-4214
(416) 572-4164 (FAX)
E-mail PWalker@TsodiloResources.com
WEBSITE: http://www.tsodiloresources.com