Tanzanian Gold announces end of Phase II Drilling and Start of Phase III Ultra-Deep Drilling

Tanzanian Gold announces end of Phase II Drilling and Start of Phase III Ultra-Deep Drilling; 50m @ 1.8 g/t Au including 5m @ 4.6 g/t Au, 7m @3.9 g/t Au and 1.0m @ 7.0 g/t Au Confirms Northeast Extension Still Open

FOR IMMEDIATE RELEASE January 23, 2020

TORONTO, January 23, 2020, (GLOBE NEWSWIRE) – Tanzanian Gold Corporation’s, (TSX:TNX) (NYSE American:TRX) (the “Company’s”) Board of Directors is pleased to announce final results from Phase II of its ongoing drill program at the Buckreef Project. The Company also announces the start of Phase III drilling that will test the extension to ultra-deep levels of mineralization found below the pit bottom in Phase II.

The results summarized below from Hole 26-2 confirm that the Northeast Extension is still open along strike. Phase II tested the mineralization below the open pit bottom of a pit defined by the Company’s Pre-Feasibility Study of the Buckreef Project. The last hole in Phase II has extended a wide and robust mineralized shear zone in the Northeast Extension by 300m along strike.

Notable intercepts from Hole 26-2 (BMRCD308) are:

 50.0m grading 1.8 g/t Au from 315m to 365m which includes;  7.0m grading 3.9 g/t Au from 319m which includes:

 3.0m grading 5.3 g/t Au at 322m
 5.0m grading 4.6 g/t Au from360m which includes;
 1.0m grading 7.0 g/t Au at 362m

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