Andrew Cheatle Appointed COO and Mine Plan Update Approved

TORONTO, February 8, 2021 (GLOBE NEWSWIRE) – Tanzanian Gold Corporation (TSX:TNX) (NYSE American:TRX) (TanGold or the Company) is pleased to announce the appointment of Mr. Andrew Cheatle to the position of Chief Operating Officer (COO)

TanGold is also pleased to announce that TanGold (operating through its wholly owned subsidiary in Tanzania) and its joint venture partner, The State Mining Company (STAMICO), have received approval of the updated mine plan for the Buckreef Gold Project (Buckreef or the Project) from the Mining Commission in Tanzania (Mining Commission).  STAMICO, which is 100% owned by the United Republic of Tanzania, owns a 45% non-dilutable equity interest in Buckreef Gold Company Limited (BGCL), which wholly owns the Project.

Mr. Cheatle (P.Geo., MBA, FGS, ARSM) is an accomplished mining executive, geoscientist, and director.  A graduate of the Royal School of Mines, Imperial College, London, his 30-plus-years international career has encompassed operations/production, development, and exploration in both the senior & junior mining sectors.  His considerable operational and project management experience includes senior positions with the development of (at that time) Anglo American Corporation’s Moab Khotsong Gold Mine, JCI’s South Deep Project and major expansions of Placer Dome’s/Goldcorp’s Musselwhite Mine.

Mr. Cheatle currently sits on the Board of Directors at Condor Gold plc, Troilus Gold Corp., and TanGold. He also volunteers on the advisory councils of the Development Partner Institute, the Canada-International Finance Corporation Africa Local Economic Development Partnership and as a Director of International Women in Mining. Mr. Cheatle is a sought-after advisor to the mining industry, specializing in operations, technical assessments, corporate development, geoscience, mining, and investments.

Mr. Cheatle is passionate about the mining industry’s potential and positive role in community and national development. He will, therefore, be spending considerable time in Tanzania with the highly motivated and talented local Buckreef team and our joint venture partner, STAMICO, to advance the Buckreef to become a major gold mine.

TanGold and STAMICO representatives recently met with the Ministry of Minerals of Tanzania and the Mining Commission in Dodoma.  TanGold and STAMICO will move forward the documentation and approval process for the previously agreed to amendments of the Buckreef Joint Venture Agreement as disclosed in January.  BGCL will also begin the land compensation and procurement process required under Tanzanian mining law to construct the 40 tph oxide mining and processing operation.

 

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