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

Tanzanian Gold Announces Closing of Sale of

$3,000,000 in Common Shares

FOR IMMEDIATE RELEASE August 13, 2019

TORONTO, August 13, 2019 (GLOBENEWSWIRE) -- 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 4,000,000 common shares raising $3,000,000, in the aggregate as previously

announced in its press release of August 9, 2019.

Tanzanian Gold Corporation is extremely pleased to have worked with R.F. Lafferty to complete

this important financing. The proceeds from this sale of common shares will allow the Company

to continue apace with extremely comprehensiv e development plan designed for the Buckreef

project. This development has systematically b een built through a progression of infill drilling

within the Company’s planned open pit mine design, drilling of the previously untested area just

below the designed pit, and now, preliminary pla nning for much deeper dr illing. In addition to

the drill program the Company has added a Down Hole Geophysical survey to complement and

expand its knowledge of the contro lling structures found at Buckr eef. All of the data collected

will be entered into the Company’s new resource -geologic model. The entire program has been

conducted in a manner not usually employed by j unior mining companies. This professional

approach will continue.

We are gratified to have a st rong, continued, relationship w ith R.F. Lafferty who clearly

understands our Company and our long-term goals. R. F. Lafferty has completed this transaction

with professionalism and expedience, entirely with clients of their own fi rm and we expect their

firm to help build a broad interest in the growth of Tanzanian Gold Corporation.

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

Cautionary Note Regarding Forward-looking Statements

Certain of the statements made herein may contain forward-looking statements or information within the meaning of the United

States Private Securities L itigation Reform Act of 1995 and applicable Canadian securities laws. Often, but not always,

forward- looking statements and forward-l ooking information can be id entified using words such as “plans”, “expects”, “is

expected”, “budget”, “scheduled”, “estimates ”, “forecasts”, “intends”, “anticipates”, or “believes ” or the negatives thereof

or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”,

“might” or “will” be taken, ,occur or be achieved. Forward-looking statements or information herein include, but are not

limited our ability to continue our work on the on the Buckre ef Project, and the timing and the results of the proposed drillin g

program.

Forward-looking statements and forward-looking information by their nature are based on assumptions and involve known and

unknown risks, uncertainties and other factors which may caus e the actual results, perform ance or achievements of the

Company to be materially diff erent from any future results, performance or achievements ex pressed or implied by such

forward-looking statements or informa tion. We have made certain assumptions about the forward-looking statements and

information and even though our management believes that the assumptions made and the expectations represented by such

statements or information are reasonable, there can be no assur ance that the forward-looking stat ement or information will

prove to be accurate. Furthermore, should one or more of the risks, uncertaintie s or other factors ma terialize, or should

underlying assumptions prove incorrect, actual results may vary ma terially from those described in forward-looking statements

or information. These risks, uncertainties and other facto rs include, among others, the foll owing: gold price volatility;

discrepancies between actual and estimated production, mineral reserves and resour ces and metallurgical recoveries; mining

operational and development risk; litigation risks; regulatory restrictions, including environmental regulatory restrictions and

liability; risks of sovereign in vestment; currency fluctuations; speculative nature of gold exploration; global economic climate;

dilution; share price vola tility; competition; loss of key employees; additional funding requi rements; and defe ctive title to

mineral claims or property, as well as those factors discussed in the sections entitled “Forward-Looking Statements” and “Risk

Factors” in the Company’s Form 20-F Annual Report dated November 29, 2018.

There can be no assurance that forward-look ing statements or information will prove to be accurate, as actual results and

future events could differ materially fr om those anticipated in such statements . Accordingly, you should not place undue

reliance on the forward-looking statements or information contained herein. Except as required by law, we do not expect to

update forward- looking statements and information continual ly as conditions change and you are referred to the full

discussion of the Company’s business contai ned in the Company’s reports filed with the securities regulatory authorities in

Canada and the U.S.