Tango Gold Announces Closing of $950,000 Management Lead Private Placement Financing

Tango Gold Mines Incorporated (TSX VENTURE:TGV) (the "Company" or "TGV")
announces that the non-brokered private placement offering of 19,000,000 common
shares at a price of CAD $0.05 per share for gross proceeds of CAD $950,000 has
now closed and the securities have been issued. The private placement shares are
subject to a 12 month hold period expiring on December 2, 2014. Insiders of the
Company subscribed for 3,000,000 shares (15.8%) of this private placement.


A cash finder's fee of 7% cash in the sum of CAD $17,500 was paid in connection
with the private placement. 


About Tango Gold Mines Incorporated 

Tango Gold Mines Incorporated is a Canadian company engaged in the exploration
and development of two principal precious metal properties in the Republic of
Nicaragua. 




--  Topacio - TGV has the right to acquire a 100% interest in the 9,300
    hectare (ha) Topacio concession in south-central Nicaragua, net a 3%
    NSR. Topacio is the site of historical underground and open pit gold
    production dating back to the early 1900s and hosts an National
    Instrument 43-101 compliant Inferred Mineral Resource of 2,716,176
    tonnes grading 3.90 grams per tonne (g/t) gold, containing 340,345
    ounces of gold at a cutoff of 1.5 g/t (Clarkson, 9.11.2012). 
--  El Santo - TGV has a 100% interest in the 2,088.8 ha El Santo concession
    located in central Nicaragua, immediately to the south of B2Gold Corp.'s
    La Libertad concession that is host to the La Libertad mine and mill
    complex which is expected to produce in excess of 130,000 ounces of gold
    in 2013. El Santo is believed to host several east-west trending, low
    sulphidation, epithermal quartz vein systems similar to those found on
    the La Libertad concession. 



On Behalf of the Board of Directors

Antonio Ponte, Executive Chairman 

Tango Gold Mines Incorporated

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this news release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Tango Gold Mines Incorporated
[e-mail]