Tanzanian Gold Announces Closing of the Sale of $1,530,700 in Common Shares

CONNECTICUT OFFICE TORONTO OFFICE:

PO Box 577 Bay Adelaide Centre, East Tower

U.S.A. 06784 22 Adelaide Street West, Suite 3400

Sherman, CT Toronto, Ontario M5H 4E3 Canada

U.S.A. 06784 Toll Free (844) 364-1830

[email protected] www.tangoldcorp.com

Tanzanian Gold Announces Closing of

the Sale of $1,530,700 in Common Shares

FOR IMMEDIATE RELEASE May 3, 2019

TORONTO, May 3, 2019 (GLOBE NEWSWIRE) -- Tanzanian Gold Corporation’s, (TSX:TNX)

(NYSE American:TRX) (the “Company’s”) Board of Directors is pleased to announce that it has

completed the sale of 2,316,084 common shares raising $1,530,700 in the aggregate

previously announced in its press release of April 30, 2019. The proceeds from the sale of

common shares will be used in furtherance of the Company’s Three-Phase Drill Program at the

Buckreef Project.

Respectfully Submitted,

“James E. Sinclair”

James E. Sinclair

Executive Chairman

For further information, please contact Michael Martin, Investor Relations,

[email protected], 860-248-0999, or visit the Company website at

www.tangoldcorp.com