Bay Street News

Teranga Gold’s Drill Results Confirm Banfora Reserve Model and Potential for Reserve Expansion

TORONTO, ONTARIO–(Marketwired – Oct. 26, 2016) –

(All amounts are in U.S. dollars unless otherwise stated)

Teranga Gold Corporation (“Teranga” or the “Company”) (TSX:TGZ)(ASX:TGZ) provided an update on its exploration activities in Burkina Faso, West Africa.

“We have just completed the first phase of a substantial exploration program undertaken to support our three growth objectives for the newly acquired Gryphon assets,” stated Paul Chawrun, Chief Operating Officer of Teranga. “The first objective is to confirm and increase the resource base of the Banfora gold project, which includes both a mine license with an area of 89km2 and a regional land package surrounding the mine license comprised of five exploration permits totaling 933km2. The second is to commence exploration programs at both Golden Hill and Gourma. The third and final objective is to complete an updated feasibility study by the end of the second quarter of 2017, which would put us on track for construction start-up in the second half of 2017 and production as early as 2019.”

Added, Mr. Chawrun, “Commencing next month, extensive exploration programs are planned across our prospective exploration portfolio in Burkina Faso, Côte d’Ivoire and in Senegal, utilizing the combined experience and expertise of both the Teranga and Gryphon teams.”

HIGHLIGHTS

The recent drilling results have been favorable in confirming mineralisation in three of the four deposits defined by previous geological modeling through extension of high-grade shoots from infill drilling and potential expansion of the near-surface resource along strike and at depth in areas.

  • At the Nogbele deposit, a minimum 200-metre strike extent of broad, shallow, oxide mineralisation has been confirmed at the Tahiti structure.
  • Also at Nogbele, a new parallel zone to the Nogbele Central pit area demonstrates the potential for a 400-metre strike length of near surface oxide mineralisation.
  • At the Fourkoura deposit, initial diamond core results are confirming the mineralisation defined by the previous geological models developed predominantly from reverse circulation (“RC”) drilling.
  • At the Samavogo deposit, drilling has been successful in extending a zone of mineralisation in the central part of the deposit and outlining up-dip mineralisation in the south.

“The drill program results at our Banfora gold project are continuing to confirm mineralisation identified within the geological resource models in the areas of the reserve deposits(1) while step out drilling has shown continuity of several deposits both along strike and at depth, giving the potential to increase resources,” stated David Mallo, Vice President, Exploration. “While our primary focus up to this point has been on Nogbele, Samavogo, Stinger and Fourkoura, we are set to begin testing eleven advanced stage prospects within trucking distance of the proposed mill, which have the potential for reserve expansion.”

DRILLING UPDATE

A total of 6,000 metres of diamond core and 11,500 metres of RC drilling have been completed during the 2016 calendar year at the Banfora gold project, the majority of which was undertaken over the past three months.

The focus of this intensive drilling campaign was to explore strike extensions of mineralized zones, to add shallow oxide resource ounces, to test high-grade plunging shoots and to increase modeling confidence at the deposits comprising the upcoming feasibility study resource estimate. Results are being utilized in updating the geological models as well as deposit wireframes and will be incorporated into the new independent resource update due for delivery in second quarter 2017.

A partial program of confirmatory drilling has now been completed at three of the four deposits which comprised the January 31, 2013 Gryphon Feasibility Study(2): Nogbele, Samavogo and Fourkoura (see Figure 1 in Appendix 1). At the fourth deposit, Stinger, an independent detailed structural evaluation was undertaken to confirm the geologic model and to guide future drilling. It is expected that drilling will commence at Stinger in fourth quarter 2016.

In addition to the recently completed drilling campaign, considerable progress continues on updating and optimizing the January 31, 2013 Gryphon Feasibility Study. Updates will include a revised process design with updated capital and operating costs. Further metallurgical test work is ongoing to assist in the optimisation of the process design. An independent resource and reserves estimate, which is anticipated to be complete in second quarter 2017, will be included in an updated National Instrument 43-101 Technical Report. The new feasibility study will embed Teranga’s extensive operational and construction experience in West Africa.

All significant drill hole intersections are presented in Table 1 in Appendix 1.

Nogbele Deposit

The recent drilling results at the Nogbele deposit (see Figure 2 in Appendix 1), the largest of the four deposits in the January 31, 2013 Gryphon Feasibility Study, have been favourable in confirming the geological resource model and identifying extensions along trend, including the Tahiti structure which is a minimum 200-metre strike extension to a broad shallow oxide zone (see Figures 3 & 4 in Appendix 1). Tahiti remains open to the northwest beyond drill hole BNDD3827 which intersected 1.82 g/t Au over 16m (66-82m).

Examples of the favorable drilling results from the recent drilling campaign at the Nogbele deposit:

2.48 g/t Au over 16m (12-28m) in Hole BNRC4840 including 22.5g/t Au over 1m (15-16m)

2.98 g/t Au over 9m (32-41m) in Hole BNRC4925

3.57 g/t Au over 6m (13-19m) in Hole BNRC4926

3.17 g/t Au over 6m (16-22m) in Hole BNRC4928

2.69 g/t Au over 29m (21-50m) in Hole BNDD3826 including 6.3g/t Au over 6m (42-48m)

1.82 g/t Au over 16m (66-82m) in Hole BNDD3827

1. True widths are unknown.

2. Intercept gold values are determined from uncapped assays.

Samavogo Deposit

Recent drill results at the second largest deposit, Samavogo, have confirmed mineralization, outlined up-dip gold mineralization at the southern end of the deposit and successfully extended a mineralized zone in the central portion of the deposit (see Figure 5 in Appendix 1).

Examples of the favorable drilling results from the recent drilling campaign at Samavogo deposit:

3.28 g/t Au over 7m (62-69m) in Hole BNRC4853

3.93 g/t Au over 5m (34-39m) in Hole BNRC4862

3.15 g/t Au over 6m (82-88m) in Hole BNRC4873

5.46 g/t Au over 6m (106-112m) in Hole BNDD3831

5.52 g/t Au over 14m (43-57m) in BNDD3833 including 11.00 g/t Au over 3m (43-46m)

1. True widths are unknown.

2. Intercept gold values are determined from uncapped assays.

Fourkoura Deposit

Recent drilling at the Fourkoura deposit was predominantly diamond core designed to reinforce the geological model previously heavily weighted on RC results (see Figure 6 in Appendix 1). Results received to-date are providing confidence for the modeling and encouragement for potential near-surface strike extensions.

A step-out exploration hole 200 metres north of the Fourkoura deposit has successfully intersected anomalous gold mineralization within the same Gabbro-hosting shear zone as at Fourkoura. Follow-up drilling will be undertaken to substantiate this potential strike extension.

Examples of the favorable drilling results from the recent drilling campaign at Fourkoura deposit:

6.56 g/t Au over 4m (99-103m) in Hole BNRC4821

4.43 g/t Au over 3m (44-47m) in Hole BNRC4823

2.52 g/t Au over 6m (84-90m) in Hole BNDD3593

2.72 g/t Au over 6m (23-29m) in Hole BNDD3595

2.90 g/t Au over 12.4m (28-40.4m) in Hole BNDD3590

1. True widths are unknown.

2. Intercept gold values are determined from uncapped assays.

Additional Prospects Within Trucking Distance to the Proposed Mill

Outside of the current Banfora mine license, and within trucking distance to the proposed mill, there are eleven advanced prospects that have considerable upside potential.

Of these targets, the highest priority is the Ouahiri prospect (see Figure 7 in Appendix 1), which displays a similar geochemical footprint in both size (2.5km across) and tenor as that outlining the large Nogbele deposit. Very limited drilling to-date has intersected some favorable results requiring considerable follow-up evaluation. Auger, RC and diamond core drilling supported by ground geophysics to highlight the most favourable bedrock anomalism is expected to commence in fourth quarter 2016.

The remaining ten priority prospects at Banfora are to be systematically explored during the upcoming field season, including those along strike of the four deposits and in the under explored western half of Banfora, including Kafina West and Bagu Sud / Weah prospects where previous work has identified strong gold anomalism (see Figure 8 in Appendix 1).

Golden Hill (51%, Earn-in 80%) & Gourma (51%, Earn-in 80%)

Field work is scheduled to recommence at Golden Hill and Gourma during November 2016 with greater emphasis on the more advanced and prospective Golden Hill project.

As shown in Figure 9 in Appendix 1, Golden Hill is located on the Houndé Belt along strike of the recently completed high-grade Yaramoko Mine (with a measured and indicated resource base of 0.81Moz grading 15.8 g/t Au) and only 15km from the recently commenced mine construction at the Houndé project (with measured and indicated resources of 2.55Moz grading 2.09 g/t Au). Exploration work performed by Gryphon and previous explorers on Golden Hill has defined a number of robust, high-quality prospects (see Figure 10 in Appendix 1). Teranga has prioritised ten of these prospects for the 2016/2017 exploration field season, which is expected to include: ground geophysics, fit-for-purpose ground geochemistry and extensive auger, RAB, RC and diamond core drilling with potential for an initial resource estimate.

Gourma (see Figure 11 in Appendix 1) covers more than 1,300km2 of prospective greenstone belt in Eastern Burkina Faso that prior to 2010 had received no modern exploration. The project contains numerous artisanal gold workings and covers a nearly 60km strike length of a crustal scale shear zone. The work to date has utilised a combination of field and desktop work using a range of data including high quality airborne geophysics and remote sensing data. Teranga has identified six prospects within Gourma on which to continue this highly effective exploration approach during the first half of the 2017 field season.

Teranga, through its Gryphon subsidiary, holds a 51% equity interest in the joint venture agreements with Boss Resources Ltd. (“Boss”) covering both the Golden Hill and Gourma gold exploration projects. Teranga has the right to earn a further 19% interest upon delivery of a bankable feasibility study regarding a potential deposit within any of the permits comprising the joint ventures. At that point, Boss must participate on a pro-rata basis for all costs associated with the development of the project or default to 1.5% net smelter royalty interest. In addition, upon attaining a 70% equity interest, Teranga has the option to acquire a further 10% in the joint venture upon payment of AU$2.5 million dollars within 60 days of delivery of the relevant feasibility study.

NEXT STEPS

  • An updated feasibility study for the Banfora gold project is well underway with a revised resources and reserves estimate, which will be included in a National Instrument 43-101 Technical Report, and is targeted for completion in the second quarter of 2017.
  • A comprehensive 15-month exploration program has been designed for each of the Banfora, Golden Hill and Gourma gold projects and is scheduled to begin in November with the following expectations:
    • to continue to convert resources within the four previously identified deposits at the Banfora gold project(2)
    • to begin testing of 11 advanced stage targets within trucking distance of the proposed mill
    • to initiate exploration programs on the Golden Hill property located within the highly prospective Houndé Greenstone Belt, and the Gourma property located 125km southeast of Ouagadougou.

Competent Persons Statements

The information in this news release that relates to Banfora is based on and fairly represents information which has been compiled by Mr. Sam Brooks who is a member of the Australian Institute of Geoscientists. Mr. Brooks has sufficient experience relevant to the styles of mineralisation and type of deposit under consideration and to the activity that is being undertaken to qualify as a Competent Person, as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr. Brooks is a full-time employee of Teranga, and has consented to the inclusion of the matters in this news release based on his information in the form and context in which it appears.

Teranga’s disclosure of mineral reserve and mineral resource information is governed by NI 43-101 under the guidelines set out in the Canadian Institute of Mining, Metallurgy and Petroleum (the “CIM”) Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council, as may be amended from time to time by the CIM (“CIM Standards”). CIM definitions of the terms “mineral reserve”, “proven mineral reserve”, “probable mineral reserve”, “mineral resource”, “measured mineral resource”, “indicated mineral resource” and “inferred mineral resource”, are substantially similar to the JORC Code corresponding definitions of the terms “ore reserve”, “proved ore reserve”, “probable ore reserve”, “mineral resource”, “measured mineral resource”, “indicated mineral resource” and “inferred mineral resource”, respectively. Estimates of mineral resources and mineral reserves prepared in accordance with the JORC Code would not be materially different if prepared in accordance with the CIM definitions applicable under NI 43-101. There can be no assurance that those portions of mineral resources that are not mineral reserves will ultimately be converted into mineral reserves.

Reserve estimates for Banfora gold project

(as per January 31, 2013 Gryphon Minerals press release for 2Mtpa CIL Feasibility Study)

The initial ore reserves for the Banfora gold project have been derived by Cube Consulting under the direction of Quinton de Klerk to a standard reportable in accordance with the “Australasian Code for Reporting of Exploration Results, Mineral Resources (JORC Code 2004 & NI43-101) and Ore Reserves” (JORC Code 2004) and are based on the Mineral Resource Models estimated by CSA Global in this announcement. The Ore Reserve estimate is based on the Mineral Resources classified as “Measured” and “Indicated” after consideration of all mining, metallurgical, social, environmental and financial aspects of the operation. The Proved Ore Reserve has been derived from the Measured Mineral Resource, and the Probable Ore Reserve has been derived from the Indicated Mineral Resource. The cut-off grades used in the estimation of the Banfora Ore Reserves are the non-mining, break-even gold grade taking into account mining recovery and dilution, metallurgical recovery, site operating costs, royalties and revenues. For reporting of Ore Reserves the calculated cut-off grades were rounded to the first decimal gram per tonne of gold. The cut-off grades vary depending on the material type and the pit location. The grades and metal stated in the Ore Reserves Estimate include mining recovery and dilution estimates. The Ore Reserve Estimate is reported within the open pit designs prepared as part of the January 31, 2013 Gryphon Feasibility Study.

Forward-Looking Statements

This press release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws (“forward-looking statements”), which reflects management’s expectations regarding Teranga Gold Corporation’s (“Teranga” or the “Company”) future growth, results of operations (including, without limitation, future production and capital expenditures), performance (both operational and financial) and business prospects (including the timing and development of new deposits and the success of exploration activities) and opportunities. Wherever possible, words such as “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “trends”, “indications”, “potential”, “estimates”, “predicts”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend”, “ability to” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might”, “will”, or are “likely” to be taken, occur or be achieved, have been used to identify such forward looking information. Specific forward-looking statements in this press release include commencement of expected drill programs, the anticipated exploration spend for 2017, the anticipated conversion of resources into reserves at Banfora, the timing and the completion of the updated 2Mtpa Feasibility Study for Banfora, the timing of completion of construction of Banfora including first gold pour, and anticipated future development and interest in joint venture projects. Although the forward-looking information contained in this press release reflect management’s current beliefs based upon information currently available to management and based upon what management believes to be reasonable assumptions, Teranga cannot be certain that actual results will be consistent with such forward looking information. Such forward-looking statements are based upon assumptions, opinions and analysis made by management in light of its experience, current conditions and its expectations of future developments that management believe to be reasonable and relevant but that may prove to be incorrect. These assumptions include, among other things, the ability to obtain any requisite governmental approvals, the accuracy of mineral reserve and mineral resource estimates, gold price, exchange rates, fuel and energy costs, future economic conditions, anticipated future estimates of free cash flow, and courses of action. Teranga cautions you not to place undue reliance upon any such forward-looking statements.

The risks and uncertainties that may affect forward-looking statements include, among others: the inherent risks involved in exploration and development of mineral properties, including government approvals and permitting, changes in economic conditions, changes in the worldwide price of gold and other key inputs, changes in mine plans and other factors, such as project execution delays, many of which are beyond the control of Teranga, as well as other risks and uncertainties which are more fully described in Teranga’s Annual Information Form dated March 30, 2016, and in other filings of Teranga with securities and regulatory authorities which are available at www.sedar.com. Teranga does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs and opinions change. Nothing in this report should be construed as either an offer to sell or a solicitation to buy or sell Teranga securities. All references to Teranga include its subsidiaries unless the context requires otherwise.

Endnotes

(1) As of the date of the acquisition of Gryphon Minerals Limited (October 13, 2016), the most recent Gryphon Reserve Estimate for the Banfora gold project was 826,000 ounces (17.4 Mt at 1.5 g/t) based on a lower capital cost heap leach processing option (see the Scheme Booklet for further details). However, as noted in Teranga’s press release dated June 19, 2016 and re-confirmed herein, Teranga’s preferred development path for the Banfora gold project is an optimized CIL flowsheet. The pro forma Combined Group Proven and Probable Mineral Reserve estimate of 3.7 million ounces as at December 31, 2015 included in Teranga’s press release dated June 19, 2016 was based on Gryphon’s CIL feasibility study Mineral Reserve estimate of 1.05 million ounces (16.7 Mt at 1.95 g/t) issued in January 2013. A number of relevant factors have changed since this estimate was issued by Gryphon Minerals in 2013, and as such and benefitting from an optimization study to be completed by Teranga, we anticipate updating the feasibility study and the resource and reserve estimates in the first half of 2017. The Mineral resources are as per Gryphon Minerals 2Mtpa Heap Leach Feasibility Study (JORC) released August 4, 2014. Complete information is available on Gryphon’s website at www.gryphonminerals.com.au and filed on the ASX at www.asx.com.au.

(2) Deposits were previously identified in a CIL Feasibility Study disclosed by Gryphon Minerals Limited on January 31, 2013.

About Teranga Gold

Teranga is a multi-jurisdictional West African gold company focused on production and development as well as the exploration of more than 5,000km2 of land located on prospective gold belts.

Since its initial public offering in 2010, Teranga has produced more than 1.2 million ounces of gold from its operations in Senegal where it is uniquely positioned with the only commercial gold mill in country. Following its recent acquisition of Gryphon, the Company is fast-tracking the development of Banfora, which is expected to commence production in 2019. Concurrent with its production and development activities, exploration programs are underway to increase its reserve base through resource conversion and making major new discoveries. Teranga has a strong balance sheet and the financial flexibility to continue to grow its business.

Steadfast in its commitment to set the benchmark for responsible mining, Teranga operates in accordance with the highest international standards and aims to act as a catalyst for sustainable economic, environmental, and community development as it strives to create value for all of its stakeholders.

APPENDIX 1

To view Figures 1 to 11 please visit: http://media3.marketwire.com/docs/teranga_gold_oct26_appendix1.pdf

Table 1: Summary of Drilling Results

Prospect Anomaly Hole ID UTM
EAST
UTM
NORTH
Azimuth Dip From (m) To
(m)
Interval
(m)
Au
(g/t)
Fourkoura Fourkoura North BNRC4817 243277 1144890 270 -60 77 78 1 1.401
Fourkoura Fourkoura North BNRC4817 85 86 1 0.829
Fourkoura Fourkoura North BNRC4818 243227 1144895 270 -60 33 35 2 4.083
Fourkoura Fourkoura North BNRC4819 243325 1144867 270 -60 66 68 2 0.627
Fourkoura Fourkoura North BNRC4819 117 123 6 3.15
Fourkoura Fourkoura North BNRC4819 128 129 1 1.103
Fourkoura Fourkoura North BNRC4820 243329 1144843 270 -60 107 108 1 0.738
Fourkoura Fourkoura North BNRC4820 122 126 4 1.807
Fourkoura Fourkoura North BNRC4820 132 133 4 0.585
Fourkoura Fourkoura North BNRC4821 243302 1144838 270 -60 99 103 4 6.562
Fourkoura Fourkoura North BNRC4822 243279 1144788 270 -60 50 53 3 0.962
Fourkoura Fourkoura North BNRC4822 83 86 3 2.075
Fourkoura Fourkoura North BNRC4823 243185 1144697 270 -60 4 6 2 0.543
Fourkoura Fourkoura North BNRC4823 270 -60 44 47 3 4.434
Fourkoura Fourkoura North BNRC4824 243202 1144673 270 -60 55 56 1 1.915
Fourkoura Fourkoura North BNRC4825 243131 1144641 270 -60 11 13 2 3.724
Fourkoura Fourkoura North BNRC4825 22 24 2 0.569
Fourkoura Fourkoura North BNRC4825 26 27 1 0.524
Fourkoura Fourkoura North BNRC4826 243175 1144489 270 -60 27 35 8 1.379
Fourkoura Fourkoura North BNRC4826 63 82 19 0.664
Fourkoura Fourkoura North BNRC4826 92 93 1 1.981
Fourkoura Fourkoura North BNRC4826 102 104 2 0.878
Fourkoura Fourkoura North BNRC4827 243076 1144490 270 -60 2 3 1 6.33
Fourkoura Fourkoura North BNRC4827 20 22 2 0.654
Fourkoura Fourkoura North BNRC4827 25 27 2 0.618
Fourkoura Fourkoura North BNRC4827 30 31 1 0.658
Fourkoura Fourkoura North BNRC4827 56 59 3 1.202
Fourkoura Fourkoura North BNRC4828 243123 1144446 270 -60 3 10 7 1.608
Fourkoura Fourkoura North BNRC4828 28 30 2 0.847
Fourkoura Fourkoura North BNRC4828 54 59 5 0.618
Fourkoura Fourkoura North BNRC4828 73 76 3 10.305
Fourkoura Fourkoura North BNRC4828 93 94 1 1.119
Fourkoura Fourkoura North BNRC4828 104 105 1 0.565
Fourkoura Fourkoura North BNRC4829 243025 1144441 270 -60 18 19 1 0.627
Fourkoura Fourkoura North BNRC4829 33 36 3 1.121
Fourkoura Fourkoura North BNRC4830 243174 1144444 270 -60 29 36 7 1.38
Fourkoura Fourkoura North BNRC4830 42 50 8 1.01
Fourkoura Fourkoura North BNRC4831 243007 1144390 270 -60 1 2 1 0.579
Fourkoura Fourkoura North BNRC4831 44 48 4 0.88
Fourkoura Fourkoura North BNRC4832 243206 1144395 270 -60 0 1 1 1.049
Fourkoura Fourkoura North BNRC4833 243157 1144395 270 -60 28 32 4 1.862
Fourkoura Fourkoura North BNRC4833 38 39 1 0.615
Fourkoura Fourkoura North BNRC4834 243010 1143546 270 -60 2 3 1 1.171
Fourkoura Fourkoura North BNRC4834 7 10 3 0.513
Fourkoura Fourkoura North BNRC4834 14 20 6 0.502
Fourkoura Fourkoura North BNRC4835 243049 1143547 270 -60 4 18 14 1.123
Fourkoura Fourkoura North BNRC4835 28 29 1 0.627
Fourkoura Fourkoura North BNRC4835 37 44 7 0.821
Fourkoura Fourkoura North BNRC4835 49 50 1 0.507
Fourkoura Fourkoura North BNRC4835 57 75 18 1.083
Fourkoura Fourkoura North BNRC4836 243115 1143540 270 -60 26 27 1 0.664
Fourkoura Fourkoura North BNRC4836 66 67 1 0.74
Fourkoura Fourkoura North BNRC4836 101 102 1 0.979
Fourkoura Fourkoura North BNRC4837 243103 1143440 270 -60 89 90 1 1.673
Fourkoura Fourkoura North BNRC4837 102 105 3 1.087
Fourkoura Fourkoura North BNRC4838 243003 1143443 270 -60 7 15 8 1.58
Fourkoura Fourkoura North BNRC4838 22 24 2 0.844
Fourkoura Fourkoura North BNRC4838 28 29 1 0.595
Fourkoura Fourkoura North BNRC4838 33 34 1 0.995
Nogbele Central BNRC4839 237600 1147569 180 -60 12 13 1 0.833
Nogbele Central BNRC4839 19 21 2 0.722
Nogbele Central BNRC4839 29 32 3 3.565
Nogbele Central BNRC4840 237629 1147565 180 -60 2 4 2 0.623
Nogbele Central BNRC4840 9 10 1 1.074
Nogbele Central BNRC4840 12 28 16 2.483
Nogbele Central BNRC4841 237624 1147588 180 -60 41 47 6 1.006
Nogbele Central BNRC4842 237653 1147581 185 -60 1 2 1 2.662
Nogbele Central BNRC4842 8 9 1 0.736
Nogbele Central BNRC4842 28 41 13 1.769
Nogbele Central BNRC4842 47 48 1 0.558
Nogbele Central BNRC4843 237553 1147571 185 -60 39 40 1 0.79
Nogbele Central- West BNRC4844 235864 1147756 185 -55 NSR
Nogbele Central- West BNRC4845 235739 1147903 185 -55 NSR
Nogbele Central- West BNRC4846 235939 1147755 185 -55 54 55 1 2.015
Nogbele Central- West BNRC4846 62 66 4 1.341
Nogbele Central- West BNRC4848 236017 1147680 185 -55 32 33 1 1.136
Nogbele Central- West BNRC4848 48 49 1 1.421
Nogbele Central- West BNRC4849 236017 1147629 185 -55 NSR
Nogbele Central- West BNRC4850 236020 1147757 185 -55 NSR
Nogbele Central- West BNRC4851 236100 1147624 180 -55 NSR
Samavogo South BNRC4852 256494 1158190 325 -60 33 37 4 0.558
Samavogo South BNRC4853 256519 1158152 325 -60 62 69 7 3.282
Samavogo South BNRC4854 256516 1158195 325 -60 39 46 7 1.387
Samavogo South BNRC4855 256623 1158351 325 -60 NSR
Samavogo Central BNRC4856 257691 1159154 325 -60 6 14 8 2.199
Samavogo Central BNRC4856 22 23 1 0.838
Samavogo Central BNRC4856 59 64 5 0.942
Samavogo Central BNRC4857 257669 1159189 325 -60 15 16 1 0.8
Samavogo Central BNRC4857 50 52 2 0.619
Samavogo Central BNRC4858 257643 1159226 325 -60 NSR
Samavogo Central BNRC4859 257695 1159231 325 -60 8 9 1 0.879
Samavogo Central BNRC4859 15 21 6 0.528
Samavogo Central BNRC4860 257719 1159193 325 -60 7 8 1 1.558
Samavogo Central BNRC4860 13 15 2 1.167
Samavogo Central BNRC4860 31 36 5 2.044
Samavogo Central BNRC4860 53 59 6 1.012
Samavogo Central BNRC4861 257727 1159257 325 -60 5 9 4 1.051
Samavogo Central BNRC4861 42 44 2 1.068
Samavogo Central BNRC4862 257752 1159294 325 -60 34 39 5 3.925
Samavogo Central BNRC4863 257778 1159263 325 -60 46 50 4 0.6
Samavogo North BNRC4864 258119 1159601 325 -60 64 67 3 1.104
Samavogo North BNRC4865 258123 1159668 325 -60 36 38 2 1.145
Samavogo South BNRC4866 257234 1158674 325 -60 32 33 1 0.547
Samavogo South BNRC4866 45 46 1 0.53
Samavogo South BNRC4867 257159 1158639 325 -60 32 34 2 4.84
Samavogo South BNRC4868 257255 1158699 325 -60 29 32 3 0.502
Samavogo South BNRC4869 256932 1158471 325 -60 49 56 7 0.731
Samavogo South BNRC4870 256906 1158505 325 -60 12 29 17 1.421
Samavogo South BNRC4871 256772 1158442 325 -60 5 6 1 0.521
Samavogo South BNRC4872 256809 1158420 325 -60 42 44 2 2.027
Samavogo South BNRC4873 256667 1158223 325 -60 82 88 6 3.151
Samavogo South BNRC4873 94 97 3 0.714
Samavogo North BNRC4874 258441 1159875 325 -60 9 16 7 0.853
Samavogo North BNRC4874 42 48 6 1.693
Samavogo North BNRC4875 258429 1159894 325 -60 6 7 1 0.509
Samavogo North BNRC4875 27 28 1 1.709
Samavogo North BNRC4875 35 39 4 2.003
Samavogo North BNRC4876 258561 1159935 325 -60 25 26 1 0.737
Samavogo North BNRC4876 40 42 2 0.631
Samavogo North BNRC4876 61 62 1 0.619
Samavogo North BNRC4877 258605 1160012 325 -60 20 22 2 0.834
Samavogo North BNRC4877 56 59 3 1.825
Samavogo North BNRC4878 258694 1159973 325 -60 56 60 4 0.654
Samavogo North BNRC4879 258729 1159982 325 -60 11 14 3 0.706
Samavogo North BNRC4880 258708 1160015 325 -60 NSR
Samavogo North BNRC4881 258676 1160068 325 -60 NSR
Samavogo North BNRC4882 258652 1160103 325 -60 15 17 2 0.962
Samavogo North BNRC4883 258652 1160020 325 -60 22 23 1 0.928
Samavogo North BNRC4883 43 44 1 0.648
Samavogo North BNRC4883 55 59 4 0.628
Samavogo North BNRC4884 258975 1160238 325 -60 29 32 3 0.687
Samavogo North BNRC4885 258989 1160219 325 -60 39 41 2 1.675
Samavogo North BNRC4886 258805 1160165 325 -60 1 2 1 0.944
Samavogo North BNRC4886 17 18 1 0.592
Samavogo North BNRC4887 258790 1160190 325 -60 11 13 2 0.553
Samavogo North BNRC4888 259023 1160223 325 -60 42 44 2 0.86
Samavogo North BNRC4889 258999 1160259 325 -60 21 25 4 0.821
Samavogo North BNRC4890 259070 1160272 325 -60 32 36 4 0.871
Samavogo North BNRC4891 259047 1160310 325 -60 16 18 2 0.65
Samavogo North BNRC4892 259112 1160285 325 -60 35 41 6 0.901
Samavogo North BNRC4893 259086 1160320 325 -60 14 22 8 1.094
Samavogo North BNRC4894 259130 1160324 325 -60 22 23 1 0.514
Samavogo North BNRC4894 27 33 6 0.646
Samavogo North BNRC4895 259102 1160363 325 -60 NSR
Samavogo North BNRC4896 259169 1160335 325 -60 23 27 4 0.836
Samavogo North BNRC4896 31 32 1 0.642
Samavogo North BNRC4897 259145 1160373 325 -60 9 10 1 0.897
Samavogo North BNRC4898 259203 1160358 325 -60 28 29 1 0.597
Samavogo North BNRC4899 259182 1160391 325 -60 11 19 8 1.16
Samavogo North BNRC4900 259241 1160375 325 -60 23 31 8 1.081
Samavogo North BNRC4901 259018 1160413 325 -60 7 10 3 1.165
Samavogo North BNRC4902 259287 1160379 325 -60 34 36 2 0.671
Samavogo North BNRC4903 259268 1160412 325 -60 18 19 1 0.966
Samavogo North BNRC4904 259348 1160365 325 -60 42 43 1 0.538
Samavogo North BNRC4905 259326 1160395 325 -60 33 34 1 2.249
Samavogo North BNRC4906 259288 1160448 325 -60 9 11 2 0.988
Samavogo North BNRC4906 17 18 1 0.731
Samavogo North BNRC4907 259313 1160477 325 -60 12 13 1 0.818
Samavogo North BNRC4908 259304 1160494 325 -60 8 9 1 0.579
Samavogo North BNRC4909 259392 1160442 325 -60 NSR
Samavogo North BNRC4910 259372 1160476 325 -60 NSR
Samavogo North BNRC4911 259346 1160510 325 -60 5 6 1 0.862
Samavogo North BNRC4911 9 13 4 0.57
Nogbele North BNRC4916 237130 1147881 180 -60 23 24 1 1.183
Nogbele North BNRC4916 45 53 8 0.669
Nogbele North BNRC4917 237148 1147875 180 -60 0 21 21 0.962
Nogbele North BNRC4918 237180 1147866 180 -60 23 24 1 0.572
Nogbele North BNRC4918 33 34 1 0.609
Nogbele North BNRC4919 237176 1147889 180 -60 0 2 2 1.362
Nogbele North BNRC4919 14 16 2 0.944
Nogbele North BNRC4919 24 26 2 1.275
Nogbele North BNRC4920 237224 1147926 180 -60 NSR
Nogbele North BNRC4921 237225 1147898 180 -60 0 2 2 0.554
Nogbele North BNRC4921 13 14 1 0.639
Nogbele North BNRC4921 24 28 4 0.706
Nogbele North BNRC4921 54 55 1 0.609
Nogbele North BNRC4921 59 60 1 1.151
Nogbele North BNRC4922 237279 1147889 180 -60 34 36 2 0.881
Nogbele North BNRC4923 237203 1147942 180 -60 3 7 4 0.861
Nogbele North BNRC4923 16 32 16 0.672
Nogbele North BNRC4923 38 39 1 0.621
Nogbele North BNRC4924 237150 1147940 180 -90 5 14 9 0.851
Nogbele North BNRC4924 22 38 16 0.945
Nogbele North BNRC4924 50 51 1 0.547
Nogbele North BNRC4925 237104 1147940 180 -60 15 17 2 1.729
Nogbele North BNRC4925 32 41 9 2.975
Nogbele North BNRC4926 237052 1147912 180 -60 13 19 6 3.565
Nogbele Central- West BNRC4927 236380 1147215 180 -60 29 33 4 2.211
Nogbele Central- West BNRC4927 42 44 2 1.244
Nogbele Central- West BNRC4928 236327 1147240 180 -60 16 22 6 3.166
Nogbele Central- West BNRC4928 34 35 1 1.208
Nogbele Central- West BNRC4928 42 44 2 0.909
Nogbele Central- West BNRC4929 236264 1147196 180 -60 7 8 1 0.638
Nogbele Central- West BNRC4929 15 16 1 2.59
Nogbele Central- West BNRC4929 33 34 1 0.513
Nogbele Central- West BNRC4929 45 46 1 0.604
Nogbele Central- West BNRC4930 236264 1147235 180 -60 42 43 1 0.665
Nogbele Central- West BNRC4930 52 53 1 0.833
Nogbele Central- West BNRC4931 236126 1147221 180 -60 51 52 1 0.528
Nogbele Central- West BNRC4932 236351 1147316 180 -60 23 26 3 3.123
Nogbele Central- West BNRC4932 47 56 9 1.065
Nogbele Central- West BNRC4932 64 65 1 0.603
Nogbele Central- West BNRC4932 67 68 1 0.595
Nogbele Central- West BNRC4933 236328 1147281 180 -60 27 32 5 0.972
Nogbele Central- West BNRC4933 71 72 1 0.687
Nogbele Central- West BNRC4933 78 84 6 1.4
Nogbele Central- West BNRC4934 236426 1147323 180 -60 58 62 4 2.675
Nogbele Central- West BNRC4934 67 68 1 0.549
Fourkoura Fourkoura BNDD3573 243208 1144244 265 -60 107 108 1 0.52
Fourkoura Fourkoura BNDD3573 115 116 1 0.667
Fourkoura Fourkoura BNDD3573 139 140 1 1.049
Fourkoura Fourkoura BNDD3574 243311 1144789 265 -60 97.8 100.4 2.6 5.599
Fourkoura Fourkoura BNDD3575 243301 1144815 270 -60 81 82 1 0.608
Fourkoura Fourkoura BNDD3575 92.5 99 6.5 1.225
Fourkoura Fourkoura BNDD3576 243183 1144637 265 -60 22 23 1 10.251
Fourkoura Fourkoura BNDD3576 62 63 1 1.836
Fourkoura Fourkoura BNDD3577 243102 1144587 265 -60 10 11 1 0.643
Fourkoura Fourkoura BNDD3577 38.2 42.1 3.9 4
Fourkoura Fourkoura BNDD3578 243147 1144589 265 -60 3 5 2 0.789
Fourkoura Fourkoura BNDD3578 50 51 1 0.943
Fourkoura Fourkoura BNDD3578 69 70 1 1.529
Fourkoura Fourkoura BNDD3579 243154 1144515 270 -60 53 56 3 0.573
Fourkoura Fourkoura BNDD3579 104.1 106 1.9 0.833
Fourkoura Fourkoura BNDD3580 243075 1144444 270 -60 9 17 8 1.027
Fourkoura Fourkoura BNDD3580 28 32 4 0.601
Fourkoura Fourkoura BNDD3581 243059 1144389 270 -60 2 3 1 0.508
Fourkoura Fourkoura BNDD3581 9 10 1 0.64
Fourkoura Fourkoura BNDD3581 12 14 2 0.657
Fourkoura Fourkoura BNDD3581 27 28 1 1.5
Fourkoura Fourkoura BNDD3581 40 48 8 0.573
Fourkoura Fourkoura BNDD3581 50 51 1 0.698
Fourkoura Fourkoura BNDD3581 58 59 1 1.498
Fourkoura Fourkoura BNDD3581 69 79 10 0.85
Fourkoura Fourkoura BNDD3582 243104 1144487 270 -60 0 4 4 0.629
Fourkoura Fourkoura BNDD3582 11 12 1 0.676
Fourkoura Fourkoura BNDD3582 24 27 3 0.6
Fourkoura Fourkoura BNDD3582 30 31 1 0.513
Fourkoura Fourkoura BNDD3582 52 59 7 0.636
Fourkoura Fourkoura BNDD3582 66 68 2 1.53
Fourkoura Fourkoura BNDD3583 243325 1144720 270 -60 124 131 7 0.774
Fourkoura Fourkoura BNDD3584 243307 1144741 270 -60 112 114 2 1.538
Fourkoura Fourkoura BNDD3585 243235 1144693 270 -60 57 65 8 0.513
Fourkoura Fourkoura BNDD3590 243100 1143635 270 -60 28 40.4 12.4 2.897
Fourkoura Fourkoura BNDD3590 56 57 1 0.91
Fourkoura Fourkoura BNDD3590 66.5 67.73 1.23 0.551
Fourkoura Fourkoura BNDD3591 243146 1143634 270 -60 65 66 1 5.124
Fourkoura Fourkoura BNDD3591 106 107 1 0.508
Fourkoura Fourkoura BNDD3592 243144 1143593 270 -60 84 92.5 8.5 0.944
Fourkoura Fourkoura BNDD3593 243074 1143593 270 -60 39.13 50 10.87 1.47
Fourkoura Fourkoura BNDD3593 55 60 5 0.655
Fourkoura Fourkoura BNDD3593 84 90 6 2.521
Fourkoura Fourkoura BNDD3594 243040 1143593 270 -60 9 10 1 1.02
Fourkoura Fourkoura BNDD3594 67 68 1 1.006
Fourkoura Fourkoura BNDD3595 243002 1143491 270 -60 23 29 6 2.723
Fourkoura Fourkoura BNDD3596 243069 1143495 270 -60 5 13 8 0.721
Fourkoura Fourkoura BNDD3596 23 25 2 0.773
Fourkoura Fourkoura BNDD3596 28 40 12 0.698
Fourkoura Fourkoura BNDD3596 47 48 1 0.578
Fourkoura Fourkoura BNDD3597 243057 1143441 270 -60 23 24 1 2.12
Fourkoura Fourkoura BNDD3597 30 31 1 0.781
Fourkoura Fourkoura BNDD3597 32 33 1 0.648
Fourkoura Fourkoura BNDD3597 60 61 1 1.502
Nogbele West BNDD3598 236377 1147255 180 -60 61.6 67 5.4 0.704
Nogbele North BNDD3599 236375 1147315 175 -60 60 61 1 2.06
Nogbele North BNDD3599 66 73 7 2.58
Nogbele North BNDD3599 101 102 1 0.598
Nogbele Tahiti North BNDD3600 236322 1146391 235 -55 68 69 1 0.586
Nogbele Tahiti North BNDD3600 82 84 2 1.117
Nogbele Tahiti North BNDD3600 98 154 56 0.795
Nogbele North BNDD3801 237176 1148022 180 -60 57 58 1 1.227
Nogbele North BNDD3801 60 68 8 1.954
Nogbele North BNDD3802 237126 1148017 175 -55 31 32 1 0.5
Nogbele North BNDD3802 34 35 1 0.51
Nogbele North BNDD3802 36 37 1 0.626
Nogbele North BNDD3802 38 42 4 0.689
Nogbele North BNDD3802 46 51 5 0.505
Nogbele North BNDD3802 71.6 74 2.4 14.559
Nogbele North BNDD3803 237101 1148054 175 -60 70 71 1 0.617
Nogbele North BNDD3803 101 104 3 3.376
Nogbele North BNDD3803 118 119 1 0.574
Nogbele North BNDD3804 237053 1148019 180 -55 79 82.5 3.5 3.158
Nogbele North BNDD3805 237128 1148003 175 -45 60 70.4 10.4 0.825
Nogbele North BNDD3807 237079 1148016 180 -45 45 47 2 3.373
Nogbele North BNDD3807 71 74 3 6.441
Nogbele North BNDD3807 84 85 1 0.581
Nogbele North BNDD3808 237728 1148325 180 -45 21 22 1 0.769
Nogbele North BNDD3808 26 28 2 0.669
Nogbele North BNDD3808 58 59 1 0.815
Nogbele North BNDD3808 62 63 1 1.016
Nogbele North BNDD3808 99 103 4 15.071
Nogbele North BNDD3809 237780 1148313 180 -45 58 59 1 2.347
Nogbele North BNDD3809 67.65 69.4 1.75 2.56
Nogbele North BNDD3811 237080 1147962 175 -70 43 55 12 1.312
Nogbele North BNDD3812 237051 1148041 175 -60 99.5 104 4.5 1.672
Nogbele North BNDD3814 236992 1148256 145 -60 76 78 2 1.164
Nogbele North BNDD3815 237006 1148235 72 74 2 7.305
Nogbele North BNDD3816 237752 1148327 180 -45 63 65 2 1.9
Nogbele North BNDD3816 78 79.2 1.2 0.75
Nogbele North BNDD3816 90 99 9 0.015
Nogbele Tahiti North BNDD3821 236377 1146318 235 -55 52 67 15 0.703
Nogbele Tahiti North BNDD3821 76 77 1 0.915
Nogbele Tahiti North BNDD3821 92 93 1 1.094
Nogbele Tahiti North BNDD3822 236347 1146295 235 -55 53 55 2 2.988
Nogbele Tahiti North BNDD3823 236359 1146360 235 -55 43 53 10 0.633
Nogbele Tahiti North BNDD3823 64 65 1 0.575
Nogbele Tahiti North BNDD3823 80 81 1 1.109
Nogbele Tahiti North BNDD3823 90 100 10 2.362
Nogbele Tahiti North BNDD3823 105 108 3 2.044
Nogbele Tahiti North BNDD3823 135 142 7 0.579
Nogbele Tahiti North BNDD3824 236320 1146337 230 -55 20 21 1 0.511
Nogbele Tahiti North BNDD3824 22 31 9 1.164
Nogbele Tahiti North BNDD3824 41 42 1 0.875
Nogbele Tahiti North BNDD3824 53.7 70.5 16.8 1.491
Nogbele Tahiti North BNDD3824 83.6 90.6 7 0.708
Nogbele Tahiti North BNDD3825 236283 1146305 235 -55 25 26 1 1.029
Nogbele Tahiti North BNDD3826 236286 1146367 235 -55 21 50 29 2.685
Nogbele Tahiti North BNDD3826 59 60 1 2.853
Nogbele Tahiti North BNDD3826 76 79 3 1.414
Nogbele Tahiti North BNDD3827 236263 1146415 235 -55 66 82 16 1.824
Nogbele Tahiti North BNDD3827 90 91 1 5.362
Nogbele Tahiti North BNDD3827 100 101 1 1.264
Nogbele Tahiti North BNDD3827 104 105 1 0.573
Nogbele North BNDD3829 237006 1148234 325 -85 72 75 3 2.791
Nogbele North BNDD3829 88 89 1 0.799
Samavogo Central BNDD3831 257337 1158580 325 -60 106 112 6 5.458
Samavogo Central BNDD3832 257490 1158700 325 -60 42 43 1 1.078
Samavogo Central BNDD3832 94 99 5 0.937
Samavogo Central BNDD3833 257516 1158821 325 -90 43 62 19 4.111
Samavogo Central BNDD3833 87 91 4 0.683
Notes:
1. True widths are unknown.
2. Intercept gold values are determined from uncapped assays.
3. UTM Coordinates are WGS84 30N
Teranga Gold Corporation
Richard Young
President & CEO
+1 416-594-0000
ryoung@terangagold.com

Teranga Gold Corporation
Trish Moran
Head of Investor Relations
+1 416-564-4290
tmoran@terangagold.com