Tanzanian Gold Corporate Presentation

VANCOUVER, British Columbia, Oct. 20, 2020 (GLOBE NEWSWIRE) -- Tanzanian Gold Corp. (TSX: TNX); (NYSE American: TRX) (“Tanzanian Gold” or the “Company”) is pleased to announce an update to its Corporate Presentation and has placed it on the company website, https://www.tangoldcorp.com/. Tanzanian Gold Corporation will participate in the virtual Red Cloud Securities Inc. Oktoberfest Fall Mining Showcase 2020 (October 21-23, 2020), with a presentation at 2:40 pm EDT Oct.21. Interested parties can register for the conference at https://www.runtheworld.today/app/c/redcloud.

About Tanzanian Gold Corporation        

Tanzanian Gold Corporation is building a significant gold project at the Buckreef site in Tanzania that is based on an expanded resource base and the treatment of its mineable reserves in two stand alone plants. An ongoing drill program has, to date, more than doubled the size of Measured and Indicated Resources to 2.036 million ounces. NI 43-101 compliant exploration mining targets have the potential to add up to another 2 million ounces. The Company commenced production from oxides in May 2020 at a new oxide plant and is now anticipating regulatory approval for an expanded oxide plant to the level of 40tph.

 Tanzanian Gold is advancing on three value-creation tracks:

1. Strengthening its balance sheet from expanding near-term production of gold to the range of 15,000-20,000 ounces per year from processing oxides:
2. Advancing the Final Feasibility for a stand-alone sulphide treating plant that is substantially larger than previously modelled, targeting annual gold production of 150,000 to 175,000 ounces; and
3. Continuing with a drilling program to further test the potential of its resource base by drilling at ultra-deep levels; drilling new oxide targets; infill drilling to upgrade ounces currently in the Inferred category and a step-out drilling program in the Northeast Extension.
   

Respectfully Submitted,

James E. Sinclair
Executive Chairman

For further information, please contact Michael Martin, Investor Relations, via email at [e-mail], direct line 860-248-0999, or visit the Company website at www.tangoldcorp.com.

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