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iCrowdNewswire Jan 23, 2021 12:23 PM ET

TanGold Announces Board and Management Change


TanGold Announces Board and Management Change

iCrowd Newswire - Jan 23, 2021

 Tanzanian Gold Corporation announces the resignation of Ulrich Rath from the Company’s Board of Directors. We wish Mr. Rath tremendous success in his future endeavors.

Mr. Andrew Cheatle, another Director of the Company, has stepped into the role occupied by Mr. Rath and will lead the Company’s Technical Committee going forward.

Respectfully Submitted,

James E. Sinclair
Executive Chairman

About Tanzanian Gold Corporation

TanGold along with its joint venture partner, STAMICO, is building a significant gold project at Buckreef in Tanzania that is based on an expanded Mineral Resource base and the treatment of its mineable Mineral Reserves in two standalone plants. An ongoing drill program has, to date, more than doubled the size of Measured and Indicated Mineral Resources to include 2.04 million ounces of gold. Exploration Targets determined in accordance with NI 43-101 standards have the potential to add up to another 2.0 million ounces of gold (see press release dated June 24, 2020). The Company commenced initial test production from oxide ore in June 2020 at an oxide test plant and is now anticipating government approval for an expanded (oxide) plant.

TanGold is advancing on three value-creation tracks:

  1. Strengthening its balance sheet by expanding near-term production to 15,000 – 20,000 oz. of gold per year from the processing of oxides upon approval of an expanded oxide plant;
  2. Advancing the Final Feasibility Study for a stand-alone sulphide treating plant that is substantially larger than previously modelled, targeting annual gold production of 150,000 to 175,000 oz.; and
  3. Continuing with a drilling program to further test the potential of its Mineral Resource base by: (i) drilling at deeper levels; (ii) drilling new oxide targets; (iii) infill drilling to upgrade Mineral Resources currently in the Inferred category; and (iv) a step-out drilling program in the Northeast Extension.

For further information, please contact Michael Martin, Investor Relations, m.martin@tangoldcorp.com, 860-248-0999, or visit the Company website at www.tangoldcorp.com

Contact Information:

James E. Sinclair
Executive Chairman








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