Tango Gold Mines Incorporated (“Tango” or the “Company”) (TSX VENTURE:TGV) announces the appointment of Ms. Jennifer Boyle, B.A., LL.B., as Chief Financial Officer of the Company, effective immediately.<br /><br />Ms. Boyle is a former securities lawyer based in Toronto, Ontario, where she operates a private corporate finance advisory company that works with early-stage junior resource companies to develop various growth strategies, including financings, and the structuring and identifying mineral property joint ventures. Ms. Boyle is also the Chief Executive Officer, Director, and co-founder Satori Resources Inc., and is a member of the board of directors of Carlisle Goldfields Inc., and of Nevada Exploration Inc.<br /><br />Due to the restructuring of Tango, the Chief Financial Officer, Philipp D. Hoch, has decided to pursue his focus on other projects in Europe, and accordingly, has submitted his resignation as Chief Financial Officer. Mr. Hoch thanks the Chairman and his colleagues for the support he has received, and wishes the company further success.<br /><br />The Company further announces that it is evaluating its current property portfolio, and making assessments as to priority projects conducive to the current markets, and accordingly, in the event that any adjustments are made, the Company will provide timely updates in this regard.<br /><br />Pursuant to its stock option plan, the Company has granted stock options to certain directors, officers and consultants of the Company to purchase up to a total of 4,350,000 common shares in the capital stock of the Company. The options are exercisable at a price of $0.05 per share for a term of five years from the date of granting.