Tanzanian Gold Announces Name Change to TRX Gold Corporation & Strengthens Management Team
Tanzanian Gold Announces Name Change to
TRX Gold Corporation & Strengthens Management Team
FOR IMMEDIATE RELEASE – May 16, 2022
TORONTO, Ontario, May 16, 2022 (GLOBE NEWSWIRE) – Tanzanian Gold Corporation (TSX:TNX)
(NYSE MKT:TRX) (the “Company” or “TanGold”) is pleased to announce that it will change its name
from “Tanzanian Gold Corporation” to “TRX Gold Corporation” (the “Name Change”). The Name
Change was approved by way of special resolution at the Company’s annual general and special
meeting of shareholders held on February 25, 2022. The Company expects the Name Change to take
effect at market open on May 27, 2022.
The Company’s common shares (the “Common Shares”) will continue trading on the Toronto Stock
Exchange (the “TSX”) under its current ticker symbol “TNX” and on the New York Stock Exchange
(the “NYSE”) under its current ticker symbol “TRX”. The new CUSIP of the Common Shares is
87283P109 and the new ISIN is CA87283P1099.
Completion of the Name Change is subject to the receipt of all required regulatory approvals, including
approval by the TSX and NYSE. Shareholders of the Company are not required to exchange their
existing share certificates for new certificates bearing the Company's new name. The Name Change
does not affect the Company's share structure or the rights of the Company's shareholders.
In addition, the Company is pleased to announce the appointment of Christina Lalli as Vice President,
Investor Relations (IR).
Ms. Lalli has close to 20 years of investor relations and capital markets experience, having spent most
of that time in the mining sector. Having held several senior- level investor relations positions within
that time frame, Ms. Lalli’s contribution has been instrumental in building robust IR programs,
establishing new contacts, and developing important relationships within the Canadian, U.S. and
European investment communities. Prior to joining TRX Gold, Ms. Lalli worked for several Canadian
junior mining companies focused on EV metals and materials, where her efforts resulted in increased
market awareness and share price growth. Prior to that, she worked with the Osisko group, notably
for Osisko Mining Corporation. Ms. Lalli is a seasoned professional with a BA in Psychology/Human
Relations, a Graduate Diploma in HR from McGill University and a graduate of the Ivey School of
Business, University of Western Ontario, designated as Certified Professional in Investor Relations
(CPIR). She is also a long-time member of the Canadian Investor Relations Institute.
About Tanzanian Gold Corporation
TanGold along with its joint venture partner, STAMICO is advancing a significant gold project at
Buckreef in Tanzania. Buckreef is anchored by an expanded Mineral Resource published in May
2020. Measured Mineral Resource is 19.98 million tonnes (“MT”) at 1.99 grams per tonne (“g/t”) gold
(“Au”) containing 1,281,161 ounces (“oz”) of gold and Indicated Mineral Resource is 15.89 MT at 1.48
g/t gold containing 755,119 oz of gold for a combined tonnage of 35.88 MT at 1.77 g/t gold containing
2,036,280 oz of gold. The Buckreef Gold Project also contains an Inferred Mineral Resource of 17.8
MT at 1.11g/t gold for contained gold of 635,540 oz of gold. The Company is actively investigating and
assessing multiple exploration targets on its property. Please refer to the Company’s Updated Mineral
Resources Estimate for Buckreef Gold Project, dated May 15, 2020 and filed under the Company’s
profile on SEDAR and with the SEC on June 23, 2020 (the “Technical Report”), for more information.
Buckreef is being advanced in a value accretive sustainable manner through:
Expanding Production Profile: A 360 tonne per day (“tpd”) processing plant is being expanded to
1,000+ tpd, enabling a near term production profile of 15,000 - 20,000 oz of gold per year. Positive
operating cash flow will be utilized for value enhancing activities, including exploration and Sulphide
Project Development.
Exploration: Continuing with a drilling program with the goal of expanding resources, discovering new
resources and converting resources to reserves, by: (i) step -out drilling in the northeast extension of
Buckreef Main; (ii) infill drilling to upgrade Mineral Resources currently in the Inferred category in
Buckreef Main; (iii) infill drilling program of Buckreef West; (iv) developing an exploration program for
the newly discovered Anfield Zone; (v) upgrading historical mineral resources at Bingwa and Tembo;
(vi) identifying new prospects at Buckreef Gold Project, and in the East African region.
Sulphide Development Project: Unlocking the value of the Sulphide Project in which the ‘sulphide
ore’ encompasses approximately 90% of the Resources. It is the goal of the Company to exceed all
metrics as outlined in the Technical Report, including annual production and strip ratio.
For further information, please contact Christina Lalli, Vice President Investor Relations at
[email protected], or visit the Company website at www.tangoldcorp.com
Andrew M. Cheatle, P.Geo., the Company’s COO and Director, is the Qualified Person as defined by
the NI 43-101 who has reviewed and assumes responsibility for the technical content of this press
release.
The Toronto Stock Ex change a nd NYSE American have not revi ewed and do no t acce pt
responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains forward- looking statements and other statements that are not historical
facts. Forward- looking statements are often identified by terms such as “will”, “may”, “should”,
“anticipates”, “expects” and similar expressions. All statements other than statements of historical fact,
included in this news release are forward- looking statements that involve risks and uncertainties.
There can be no assurance that such statements will prove to be accurate and actual results and
future events could differ materially from those anticipated in such statements. The reader is cautioned
that assumptions used in the preparation of any forward-looking information may prove to be incorrect.
Events or circumstances may cause actual results to differ materially from those predicted, as a result
of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond
the control of the Company. The reader is cautioned not to place undue reliance on any forward-
looking information. Such information, although considered reasonable by management at the time of
preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are expressly qualified by this cautionary
statement. The forward-looking statements contained in this news release are made as of the date of
this news release and the Company will update or revise publicly any of the included forward-looking
statements as expressly required by applicable law.
The TSX And NYSE have not reviewed and do not accept responsibility for the adequacy or accuracy
of this release.