Tanzanian Gold announces an upper level intercept

Tanzanian Gold announces an upper level intercept of 48m (incl. 5m @6.6g/t and 1.0M @ 16.8 g/t ) and a deeper intercept of 13.4m (incl. 8.0m @ 4.9 g/t) in the first hole of the Phase III deep drilling program testing the underground potential at Buckreef Gold project.

FOR IMMEDIATE RELEASE February 26, 2020

TORONTO, February 26, 2020, (GLOBENEWSWIRE) – Tanzanian Gold Corporation’s, (TSX:TNX) (NYSE American:TRX) (the “Company’s”) Board of Directors is pleased to announce results from Hole L19-1 (BMRCD309), the first hole of Phase III (ultra-deep) that targets the continuity of mineralization significantly below that encountered in Phase II.

The results summarized below from Hole L19-1 indicate that the mineralization encountered at surface extends at least 500m vertically at depth and is still open. The intersection at 622m in this hole appears to be just a slice of the entire Mineralized Zone target. A second hole on Line L19 has been started that will be even deeper than Hole L19-1 to test the full extent of the Mineralized Zone

Drill-hole L19_1 was collar position is 391342E/9658530N (UTM ARC 1960; Z36S) at an elevation of 1229m and was drilled on an azimuth of 126deg and at an inclination of -70deg to a depth of 730m. Notable intercepts from Hole L19-1 (BMRCD309) are:

200226 TNX NR