Tanzanian GOLD Update ON Request FOR Proposal FOR Mining Process

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 UPDATE ON REQUEST FOR PROPOSAL

FOR MINING PROCESS

FOR IMMEDIATE RELEASE February 5, 2020

TORONTO, February 5, 2020, (GLOBENEWSWIRE) - Tanzanian Gold Corporation, (TSX:TNX) (NYSE

American:TRX) (the “Company”) is pleased to announce that it ha s advertised, issued, received and is

reviewing the qualified bid res ponses for the Buckreef Gold Pro ject’s (the “Project”) Request For Proposal

(RFP) for its mining process.

The RFP include d as part of its requirements a thorough and working understand ing of current laws and

regulations for mining processes and operations which are locat ed in the United Republic of Tanzania,

including, but not limited to “The Mining Local Content Regulat ion, 2018, and compliance with this

regulation. The Project is located near the Mnekezi Village, Geita District, Tanzania.

In short, the Company has accepted and is reviewing bids for work necessary for minin g processes which

include, but are not limited to, advising and taking an active role in final feasibility with particular emphasis on

developing processing solutions for the recovery of gold. To be considered, bidders were required to offer and

qualify as independent third parties to the Company for transpa rency, technical expertise and soundness,

unbiased expertise to execute process testing, provide engineer ing services to develop and verify the CIL/CIP

process plant proposed by the Company. Additional transparency requirements are to meet with Company’s

authorized persons; engage in conversations about the process t esting and project engineering; engage in

discussions and respond to inquiries. Outstanding references we re required and have been received among

qualified bidders. A qualified bidder is required to develop Pr oject resources and involve consultants and

subcontractors to the extent authorized by the Company, and add value to the Project. Qualified bidders are

also required to visit the Project site to establish equipment and infrastructure and evaluate what is available on

site; identify the available feedstock and discuss representati ve sample requirements for further mineralogical

and metallurgical testwork required to verify a required flow s heet and equipment sizing for the proposed

plant. Qualified bidders are further required to assist in form ulating the basis for the initial ~ tph gold

processing plant, and provide engineering and consulting servic es for design of suitable processing plants.

Qualified bidders are required to provide Engineering, Procurem ent and Construction Management services as

appropriate to facilitate implementation of the processing plan t. The foregoing are the simplified and general

requirements of qualified bidders.

The Company will choose among the field of qualified bidders, an organization which will ensure the path and

process forward, including team objectives, and local legal req uirements. The Company will also choose an

organization with a history of success and one which will be fl exible in the event the understandings of the

Company and bidder require supplementation in our agreement for a smooth process forward.

The Company anticipates an expeditious analysis to conclude the RFP process, and further expects to move

forward from the RFP process to a master services agreement whi ch incorporates more specific terms and

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requirements of the Company followed by government oversight an d review in the very near future. The

finalization process includes a review by the STAMICO technical team with subsequent review for clearance

with the Tanzanian Mining Commission. The Company has worked with this process before and anticipates no

problems or significant delays.

The Company is pleased to provide these updates on the RFP proc ess and will advise promptly when the

process is concluded.

Respectfully Submitted,

James E. Sinclair, Executive Chairman

Tanzanian Gold Corporation

For further information, please contact Michael Martin, Investor Relations, via email at

[email protected], direct line 860-248-0999, or visit the Company website at 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. Investor s - The United States Securitie s 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”, “re sources”, “geologic resources”, “proven”,

“probable”, "measured", "indicated", or "inferred" which may no t be consistent with the reserve definitions

established by the SEC. U.S. Investors are urged to consider c losely the disclosure in our 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 certa in forward-looking statements a nd forward-looking information. All statements, other

than statements of historical fact , included herein are forward -looking statements and forward-looking information that

involve various risks and uncertainties. There can be no assura nce that such statements w ill prove to be accurate, and

actual results and future events could differ materially from t hose anticipated in such statements. Important factors that

could cause actual results to differ materially from the Compan y's expectations are disclosed in the Company's

documents filed from time-to-time with the British Columbia, Al berta and Ontario provincial securities regulatory

authorities.

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

Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on numerous assumptions,

and involve known and unknown risks, uncertainties and other fa ctors, including risks inherent in mineral exploration

and development, which may cause the actual results, performanc e, or achievements of the Company to be materially

different from any projected future results, performance, or ac hievements expressed or implied by such forward-looking

statements. Investors are referred to our description of the ri sk factors affecting the Company, as contained in our SEC

filings, including our annual report on Form 20-F and Registrat ion Statement on Form F-10, as amended, for more

information concerning these risks, uncertainties, and other factors.