Tanzanian Gold Announces Closing of Sale of $3,850,000 in Common Shares

Tanzanian Gold Announces Closing of Sale of $3,850,000 in Common Shares

FOR IMMEDIATE RELEASE December 18, 2019

TORONTO, December 18, 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 6,695,652 common shares raising $3,850,000, in the aggregate as previously announced in its press release of December 16, 2019.

Tanzanian Gold Corporation has over the past twelve months successfully executed a professionally designed and managed pathway with our development at the Buckreef Project. As demonstrated by our news releases and presentations throughout 2019, the Company has undertaken the Buckreef mine development in a manner rarely seen in the junior mining sector. The Company believes that Gold mines in general and, more specifically Tier One Gold Mines, are not found they are made.