Tembo Gold Corp filed its Annual on Apr 30, 2013 for the period ending Dec 31, 2012. In this report its auditor, Grant Thornton, gave an unqualified opinion expressing doubt that the company can continue as a going concern.

Tembo Gold Corp. reported additional results from its 2012 recent drill program on the Tembo Property in the Lake Victoria goldfield of Tanzania. These additional diamond drill holes and shallow, close-spaced reverse circulation (RC) holes from the Ngula 1 target were drilled as part of the Phase 1 drilling program on the Tembo property designed to test the continuity of the mineralized zones intersected earlier in the 2012 diamond drilling campaign. These results support the high-grade results previously reported from this target area. Highlights of the latest drill results include: TRC0001: 38.20g/t Au over 1.00m from 85m; TRC0008: 3.75g/t Au over 6.00m from 35m; and TDD0146: 10.70g/t Au over 1.00m from 308m. The Ngula 1 target consists of a 600m long, 150-200m wide corridor of massive and locally intensely sheared mafic meta-volcanic rocks bounded to the north and south by thin meta-sedimentary units. The drilling program initially consisted of alternating 100m-spaced diamond and reverse circulation drill hole sections drilled from the south targeting the zones at vertical depths of approximately -50m, -100m, -150 and -200m, and 100m-spaced diamond hole drill sections drilled from the north to similar depths.

Tembo Gold Corp. reported additional results from the 2012 drill program on the Tembo Property in the Lake Victoria goldfield of Tanzania. These additional shallow reverse circulation (RC) holes from the Nyakagwe Village target were drilled in the phase 1 drilling program on the Tembo property and support the results previously reported from this target area. Highlights of the latest drill results include: TRC0552: 8.42g/t gold over 3.00m from 86m; TRC0562: 4.61g/t gold over 5.00 m from 82m. The Nyakagwe Village target is located at the western end of the broad, semiarcuate belt of active artisanal workings (up to 1,000 m wide) stretching eastwards through the Mgusu target to the Nyakagwe East target area (a distance of some 1,500 m). The main artisanal workings at Nyakagwe Village comprise a pit with dimensions of some 100 m x 100 m and 35 m deep within an area containing numerous vertical shafts over a rectangular area some 200 m by 100 m. Artisanal shafts located on the southern edge of the pit extend to depths in excess of 40 m below surface. Underground orkings reportedly extend over a strike length of 40m, exploiting a quartz vein up to 3 m thick, striking WNW and dipping at approximately 40° to the south. The initial drilling at the target has consisted of limited diamond drilling beneath the shafts and open pit and lines of heeltoe RC drill holes to test for the extensions and other potential parallel mineralized structures. Further drilling will be required at Nyakagwe Village, drilling for 2013 will be focused on the development of the more advanced targets, particularly Ngula 1.