TORONTO, April 08, 2020 (GLOBE NEWSWIRE) — Teranga Gold Corporation (“Teranga” or the “Company”) (TSX:TGZ; OTCQX:TGCDF) today announced the appointment of Simon Bottoms, MGeol, FGS CGeol, FAusIMM, to the Company’s board of directors, effective immediately. Mr. Bottoms was nominated to join Teranga’s board of directors by Barrick Gold Corporation (“Barrick”), the Company’s second largest shareholder. Pursuant to the terms of an investor agreement related to the Company’s recent acquisition of the Massawa gold project, Barrick is entitled to nominate one board member so long as it retains at least a 10% ownership interest in Teranga.
Mr. Bottoms is currently Senior Vice President Africa & Middle East Mineral Resource Manager for Barrick, where he is responsible for the management of all Africa and Middle East mine operations and project technical teams as the lead technical executive for the region. Prior to his current position, Mr. Bottoms was Group Mineral Resource Manager for Randgold, which was subsequently acquired by Barrick in 2018. Mr. Bottoms achieved his Master of Geology from the University of Southampton School of Ocean & Earth Science. He is a chartered geologist and Fellow of the Geological Society of London and a Fellow of the Australasian Institute of Mining & Metallurgy.Alan Hill, Chairman of the board of Teranga, commented, “On behalf of the board, I’d like to welcome Simon to Teranga. His experience with the Massawa project will prove helpful as we integrate Massawa into our Sabodala gold operation to create a top tier gold complex and continue progressing the Company’s exploration plans across Senegal, Burkina Faso and Côte d’Ivoire.”Following Mr. Bottoms’ appointment, the Teranga board will increase temporarily from 9 to 10 directors. The Company plans to return to a 9-person board following the upcoming annual general meeting.About TerangaTeranga is a multi-jurisdictional West African gold company focused on production and development as well as the exploration of approximately 6,050 km2 of land located on prospective gold belts. Since its initial public offering in 2010, Teranga has produced more than 2 million ounces of gold at its Sabodala operation in Senegal, which is expected to transform into a top tier gold complex upon the integration of the recently acquired high-grade Massawa gold project. Focused on diversification and growth towards its vision of becoming a mid-tier producer, the Company recently announced commercial production at its second gold mine, Wahgnion, which is located in Burkina Faso, and is carrying out exploration programs in three West African countries: Burkina Faso, Côte d’Ivoire and Senegal. Teranga applies a rigorous capital allocation framework for its investment decisions.Steadfast in its commitment to set the benchmark for responsible mining, Teranga operates in accordance with international standards and aims to act as a catalyst for sustainable economic, environmental, and social development as it strives to create value for all of its stakeholders. Teranga is a participant of the United Nations Global Compact and is committed to aligning its sustainability practices and performance reporting in accordance with the World Gold Council’s Responsible Gold Mining Principles and the Global Reporting Initiative Sustainability Standards.Contact Information
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