Tombola Gold Ltd (ASX:TBA) Suspension Update

Tombola Gold Ltd (ASX:TBA) wishes to provide a high-level update with regard to the suspension of its securities from trading on the ASX.

As shareholders would be aware, the Company requested a Trading Halt on 20 December 2022, and on 22 December 2022, requested that the Company's securities be placed in voluntary suspension. This was due to a problem being encountered within the crushing circuit at the GAM Plant in the initial phases of production. The Company's efforts to rectify the issue were hampered by a number of convergent factors including the non-availability of spare parts, the shut-down of most businesses for the Christmas period, and the State Government moratorium on heavy vehicle movements on Queensland Roads over the holiday period.

The Company has been in discussions with a number of parties regarding commercial arrangements to facilitate the recommencement of production at the GAM Plant. Negotiations have reached the point of draft binding agreements.

On the basis of the progress made to date, the Company expects to be in position to make a detailed announcement, and re-commence trading on the ASX, next week. The Company's securities will remain in suspension until that occurs.

Byron Miles 
Managing Director
bmiles@tombolagold.com

Jane Morgan
Investor and Media Relations
info@janemorganmanagement.com.au
+ 61 (0) 405 555 618

Pamela Menzies
Company Secretary
pamela@tombolagold.com