Tanzanian GOLD Corporation Connecticut Office: Toronto Office:

TANZANIAN GOLD

CORPORATION

CONNECTICUT OFFICE: TORONTO OFFICE:

PO Box 577 Bay Adelaide Centre, East Tower

Sherman, CT 22 Adelaide Street West, Suite 3400

U.S.A. 06784 Toronto, Ontario

Phone : 1.844.364.1830 Canada M5H 4E3

Fax : 1.860.799.0350 Toll Free : 1.844.364.1830

News Release – May 30, 2019

Tanzanian Gold Announces End of Phase I In-Pit Drilling Program.

The final three holes of this phase intersected significant intervals of continuous gold

mineralization. Highlights within the pit include 29.6m @ 2.8 g/t Gold incl. 1.0m @ 47.7 g/t

Gold and 21.0m @ 2.8 g/t Gold incl. 1.0m @ 19 g/t Gold and Highlights Outside and Below

the pit include 89.6m @ 1.5 g/t Gold incl. 2.0m @ 16.6 g/t Gold

TORONTO, May 30, 2019 (GLOBE NEWSWIRE) -- Ta nzanian Gold Corporation (TSX:TNX) (NYSE

American:TRX) (the "Company”) is pleased to announ ce results from three holes that bring to an end

Phase I of the in-pit drilling program. On January 10, 2019, the company announced a three Phase drilling

program at the Buckreef Gold project. The prim ary objective of Phase I was to upgrade Inferred

Resources within the open pit, as defined in the J une 26, 2018 43-101 Pre-Feasibility Study, as well as to

add additional ounces to the pit. In total approxima tely 4,700m where drilled in the Phase I pit infill

drilling program.

Mr. James Sinclair, Tanzanian Gold Corporation (T RX) Executive Chairman sai d of the Phase I results,

“Our open pit and the substantive mineralized zon es we are confirming both in, and below the pit

continue to impress. I believe we are seeing our thesi s of wider, deeper, richer being confirmed as we

progress our drilling program from Phase I into Phase II. Intersecting 89.6 meters or approximately 294

feet of continuous gold mineraliza tion outside and below the pit is spectacular and bodes well for our

future”.

Hole U22-1 was a diamond drill hole that went throu gh the open pit and continued outside and below the

current pit bottom. Both Hole L19-1 and PBR011 were RC holes that were in the open pit. Each of these

three holes intersected significant intervals of conti nuous gold mineralization ranging from 89.6 m to two

intersections of about 30m and to th ree intersections in the range of 17m - 21.0m. Also notable is the fact

that many of these intersections were at an averag e gold grade that is significantly higher than the

weighted gold grade of 1.5 g/t for the entire open pit.

Intersections from Hole U22-1 are shown from inside the open pit and from below the pit bottom which is

approximately 210m from surface. Several notable inte rsections; such as 9.4m @ 6.5 g/t Au and 5.0m @

7.7 g/t Au were encountered approximately 120m be low the pit bottom. Significant intersections were

also found below the open pit bottom in Hole 13-3, th e first hole of Phase II, as reported in the company's

press release of May 1, 2019. All remaining holes in Ph ase II will be testing for mineralization at various

levels below the open pit bottom.

Significant intercepts from the last three holes of Phase I are:

Hole U22-1

Inside the Open Pit:

 29.6m grading @ 2.8 g/t Au starting at 81.5m; including

 3.7m grading @ 19.5 g/t Au from 84m, including

 1.0m grading @ 47.7 g/t Au at 86m

Outside & Below Open Pit:

 89.6m grading @ 1.5 g/t Au starting at 147m, including

 9.4m grading @ 6.5 g/t Au from 261.8m, including

 6.2m grading @ 8.5 g/t Au from 265m, including

 2.0m grading 16.6 g/t Au starting at 267m

 5.0m grading 7.7 g/t Au from 274m, including

 3.1m grading @ 11.2 g/t Au at 274.9m

Hole L19-1

 31.0m grading @ 1.3 g/t Au starting at140 m, including

 7m grading @ 2.6 g/t Au starting at 140m, including

 1.0m grading @ 6.7 g/t Au at 142m; and

 7m grading @ 1.4 g/t Au starting at 151m; and

 7m grading @ 1.8 g/t Au starting at 164 m

 17m grading @ 1.5 g/t Au starting at 215m including

 8.0m grading at 2.2 g/t Au starting at 221m

Hole PBR011

 21.0m grading @ 2.8 g/t Au starting at 143m, including

o 2.0m grading at 12.1 g/t Au from 162m, including

 1.0m grading @ 19 g/t Au at 163m

The intersections reported here are a down-hole lengt h and may not represent true width, but the true

width is estimated to be 50 – 60%. 

Mr. Jim Sinclair, Chairman (TRX) commented, “ We have reached a significant milestone with the

completion of the Phase I program. The assay result s and the geological information from Phase I will be

incorporated into a Resource - Geological Model that will also incorporate results from previous drilling

as well as information received from the remaining 2 phases of our current drill program.

Mr. Sinclair continued, "I believe that the resu lts from Phase I could add more ounces to the pit as

defined in our positive Pre-Feasibility Study." Mr. Sinc lair concluded " I am also particularly pleased

with the early results from Phase II which are findi ng quality intersection below the bottom of the open

pit. The results including U22-1 announced today gi ve indications of strong mineralization, gold values

and most importantly, impressive widths. The future of the Buckreef Project has never looked brighter”.

Sample Protocol and QA/QC

The sample chain of custody is managed by the Buckreef technical team under the supervision of

Anthony Minde. Gold analyses reported in this rel ease were performed by standard fire assay using a

50-gram charge with atomic absorption finish (0.01p pm LLD) and a gravimetric finish for assays greater

than 10 grams per tonne. All assays were performed by Nesch Mintech Laboratory in Mwanza.

Sampling and analytical procedures are subject to a comprehensive quality assurance and quality control

program. The QAQC program includes duplicate samples, blanks and analytical standards.

Intervals of core to be analyzed are split in half w ith a mechanized core cutter, with one half sent to

the Laboratory for geochemical analysis and the remain ing half kept in storage for future reference and

uses.

Nesch Mintech Laboratory is ISO 90001 and 17025 accredited and employs a Laboratory Information

Management System for sample tracking, quality control and reporting.

Qualified Person

The Company’s Qualified Person, Mr. Peter Zizhou, h as reviewed and approved the contents of this

news release. Mr. Zizhou has a Master of Scie nce (Exploration Geology) degree from the University

of Zimbabwe (2000) and is a registered professional natural scientist with SACNASP (Reg. No.

400028/08).

Respectfully Submitted,

"James E. Sinclair"

James E. Sinclair

Executive Chairman

For further information, please contact Investor Relations at 1-800-811-3855

Visit our website: www.tangoldcorp.com

The Toronto Stock Exchange and NYSE MKT LLC have not reviewed and do not accept responsibility for the adequacy or

accuracy of this release

Cautionary Note to U.S. Investors - The United States Securities and Exchange Commission limits disclosure for U.S.

reporting purposes to mineral deposits that a company can economically and legally extract or produce. We use certain

terms on this news release, such as “reserves”, “resources”, “geologic resources”, “proven”, “probable”, "measured",

"indicated", or "inferred" which may not be consistent with the reserve definitions established by the SEC. U.S.

Investors are urged to consider closely the disclosure in ou r SEC filings. You can review and obtain copies of these

filings from the SEC's website at http://www.sec.gov/edgar.shtml

This news release contains certain forward-looking statements and forward-looking information. All statements, other than

statements of historical fact, included herein are forward-l ooking statements and forward-looking information that involve

various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results a nd

future events could differ materially from those anticipated in such statements. Important factors that could cause actual resu lts

to differ materially from the Company's expectations are disclosed in the Company's documents filed from time-to-time with the

British Columbia, Alberta and Ontario provincial securities regulatory authorities.

Certain information presented in this release may constitute “forward-looking statements” within the meaning of the Private

Securities Litigation Reform Act of 1995. Such forward-looking statements ar e based on numerous assumptions, and involve

known and unknown risks, uncertainties and othe r factors, including risks inherent in mineral exploration and development,

which may cause the actual results, performance, or achievements of the Company to be materially different from any projected

future results, performance, or achievements expressed or implied by such forward-l ooking statements. Investors are referred to

our description of the risk factors affecting the Company, as contained in our SEC filings, including our annual report on Form

20-F and Registration Statement on Form F-10, as amended, for more information concerning these risks, uncertainties, and

other factors.