Tanzanian Gold Clarifies Disclosure
February 21 2020 - 4:30PM
Tanzanian Gold Corporation’s, (TSX:TNX) (NYSE American:TRX) (the
“Company’s”) Board of Directors wishes to retract in its entirety,
as a result of a review by staff of the Ontario Securities
Commission (“OSC”), the disclosure of unclassified resources
included in the Company’s press release of February 14, 2020 (the
“Prior Release”) regarding the Buckreef Project. Unclassified
resources are not a CIM category of mineral resources and such
disclosure is contrary to paragraphs 2.2(a) and 2.3(1)(a) of
National Instrument 43-101 Standards of Disclosure for Mineral
Projects.
For information in respect of the Company’s
Buckreef Project, please refer to the Company’s Technical Report
dated June 26, 2018 available under the Company’s profile at
www.sedar.com, rather than the Prior Release.
The Company is very pleased with the progress
and outcome of its 2019 drilling program at the Buckreef Project
and looks forward to providing revised disclosure within
approximately 14 working days.
Respectfully Submitted,
“James E. Sinclair”
James E. SinclairExecutive Chairman
For further information, please contact Michael Martin, Investor
Relations, via email at m.martin@tangoldcorp.com, 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. Investors - The
United States Securities 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”, “resources”, “geologic
resources”, “proven”, “probable”, "measured", "indicated", or
"inferred" which may not be consistent with the reserve definitions
established by the SEC. U.S. Investors are urged to consider
closely 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 certain
forward-looking statements and 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 assurance that such statements will prove to be accurate, and
actual results and future events could differ materially from those
anticipated in such statements. Important factors that could cause
actual results to differ materially from the Company's expectations
are disclosed in the Company's documents filed from time-to-time
with the British Columbia, Alberta and Ontario provincial
securities regulatory authorities.
Certain information presented in this release
may constitute “forward-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 factors,
including risks inherent in mineral exploration and development,
which may cause the actual results, performance, or achievements of
the Company to be materially different from any projected future
results, performance, or achievements expressed or implied by such
forward-looking statements. Investors are referred to our
description of the risk factors affecting the Company, as contained
in our SEC filings, including our annual report on Form 20-F and
Registration Statement on Form F-10, as amended, for more
information concerning these risks, uncertainties, and other
factors.
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