Tanzanian Gold Corporation Announces Public Offering of Common Shares

Tanzanian Gold Corporation Announces Public Offering of Common Shares

For Immediate Release August 9, 2019

TORONTO, August 9, 2019 (GLOBE NEWSWIRE) – Tanzanian Gold Corporation, (TSX:TNX) (NYSE American:TRX) (the “Company”) announced today that it has commenced an underwritten public offering of up to 4,000,000 Common Shares at $0.75 per share. R.F. Lafferty Co., Inc. is acting as underwriter to offer and sell the Common Shares on a “best efforts” basis. The Company intends to use the net proceeds from the offering in furtherance of a deep underground geophysical survey and the continuation and completion of Phase II drilling at the Buckreef Project. Importantly, proceeds will also be used for the further construction of the resource-geology model and overall gold resource assessment at the Buckreef Project. Finally, and to a significantly lesser extent, proceeds will be used for working capital and other general corporate expenses.