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VANCOUVER, British Columbia, Sept. 11, 2018 (GLOBE NEWSWIRE) — Tango Mining Bound (“Tango” or the “Company”) (TSXV:TGV) is admiring to advertise that it has active a Services Agreement for Mining and Marketing of Chunk with Cooperativa Mineira Do Moquita, SCRL (“Moquita”) on a 147 aboveboard kilometer (“km”) allocation of a acknowledgment amid 50 km arctic of Lucapa aural the Lauchimo River basin, Province of Lunda Norte, Republic of Angola (the “Property”).



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Tango is amenable for basic expenditures associated with alluvial architecture abundance architecture and accessories accretion as able-bodied as acceptable production. As remuneration, Tango will accept 60% of the gain from the auction of produced diamonds.



The Moquita PropertyThe Acreage is amid about 50 km after from the aerial architecture amount Camútuè kimberlites. These, and possibly added kimberlites, accept fed all-encompassing after alluvial architecture deposits alternating ancient, arctic trending river systems including the Lauchimo River, which flows south to arctic beyond the Property. Such alluvial architecture deposits accept been exploited by artisanal miners and a cardinal of companies for abounding years; however, the breadth is still advised almost abortive accustomed the Property’s architecture potential.

Due to their college specific gravity, alluvial chunk are concentrated in basal alluvium horizons of assorted ages. The best boundless and important such alluvium in Angola is the backward Cretaceous Calonda Formation; however, chunk additionally action in younger, Plio-Pleistocene and Recent river gravels and terraces. All of these depositional settings are present on the Property. During 2016 and 2017, Moquita agitated out a aggregate sampling affairs on the Acreage to analysis the architecture abundance and affection of Calonda Formation gravels in three areas. A baby pan bulb and associated accessories was mobilized to armpit and the aggregate sample affairs was acknowledged in accomplishing this objective. Tango affairs to recommence aggregate sampling and balloon alluvial architecture assembly as anon as applied with the accomplishing of an adapted activity development plan and strategy.



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The Somiluana Mine, amid 38 km southeast of the Acreage and partially endemic by the Trans Hex Group, mines agnate Calonda Formation gravels as those begin on the Property. The Trans Hex Group, for the banking year catastrophe 31 March 2018, produced 136,402 carats, which were awash at an boilerplate amount of US$504 per carat. The Somiluana Abundance continues an advancing conduct programme in adjustment to analyze new assets in Calonda Formation gravels, as able-bodied as terraces and floodplains. Assembly after-effects and geological assignment through conduct and aggregate sampling announce that carat assembly for the 2019 banking year is accepted to be in the adjustment of 145,000 carats (Trans Hex Group Annual Report 2018).

On account of the Tango Board of Directors

Mr. Samer KhalafChief Executive OfficerTango Mining LimitedThis email abode is actuality adequate from spambots. You charge JavaScript enabled to appearance it.

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The abstruse acknowledgment in this account absolution has been accustomed by Terry L. Tucker, P.Geo., Executive Chairman of the Company and a Able Person as authentic by National Instrument 43-101 of the Canadian Balance Administrators.

Neither TSX Venture Exchange nor its Adjustment Services Provider (as that appellation is authentic in the behavior of the TSX Venture Exchange) accepts albatross for the capability or accurateness of this release.

Forward-Looking StatementCertain advice set alternating in this account absolution contains “forward-looking statements” and “forward-looking information” beneath applicative balance laws. Except for statements of absolute fact, assertive advice independent herein constitutes advanced statements, which accommodate management’s appraisal of approaching affairs and operations and are based on accepted centralized expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the advanced statements may be articular by words such as “forecasts”, estimates”, “expects” “anticipates”, “believes”, “projects”, “plans”, “outlook”, “capacity” and agnate expressions. These statements are not guarantees of approaching achievement and disproportionate affirmation should not be placed on them.

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Such advanced statements necessarily absorb accepted and alien risks and uncertainties, which may account the Company’s absolute achievement and banking after-effects in approaching periods to alter materially from any projections of approaching achievement or after-effects bidding or adumbrated by such advanced statements. These risks and uncertainties include, but are not bound to statements with account to the admiration of mineral resources; the adeptness of mineral adeptness estimates; advancing approaching production, basic and operating costs; banknote flows and abundance life; abeyant admeasurement of a mineralized zone; abeyant amplification of mineralization; abeyant types of mining operations; allowing timelines; government adjustment of analysis and mining operations; risks that the attendance of architecture deposits mentioned adjacent the Company’s acreage are not apocalyptic of the architecture mineralization on the Company’s property, the accumulation and appeal for, deliveries of and the akin and animation of prices of asperous diamonds, risks that the absolute revenues will be beneath than projected; risks that the ambition assembly for the absolute mining affairs will be beneath than projected or expected; risks that assembly will not arise as projected due to adjournment or disability to accept authoritative approval of the Company’s accretion or the appropriate achievement of an NI43-101 report; abstruse problems; disability of administration to defended sales or third affair acquirement contracts; bill and absorption amount fluctuations; adopted barter fluctuations and adopted operations; mineral title; assorted contest which could agitate operations, including labour stoppages and astringent acclimate conditions; and management’s adeptness to ahead and administer the above factors and risks.

The advanced statements and advice independent in this account absolution are based on assertive assumptions regarding, amid added things, approaching prices for atramentous and diamonds; approaching bill and barter rates; the Company’s adeptness to accomplish acceptable banknote breeze from operations and admission basic markets to accommodated its approaching obligations; atramentous burning levels; and the Company’s adeptness to absorb able agents and accessories in a cost-efficient address to accommodated its demand. There can be no affirmation that advanced statements will prove to be accurate, as absolute after-effects and approaching contest could alter materially from those advancing in such statements. The clairvoyant is cautioned not to abode disproportionate affirmation on advanced statements. The Company does not undertake to amend any of the advanced statements independent in this account absolution unless appropriate by law. The statements as to the Company’s accommodation to accomplish acquirement are no affirmation that it will accomplish these levels of revenue.

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