TSX : TGZ $ 4.12 +0.06 +1.48% Volume: 679,252 March 16, 2018
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GOLD $ 1,318.85 +0.73 +0.06% Volume: March 16, 2018

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An emerging multi-asset, mid-tier gold producer in West Africa

On October 12, 2016, Teranga completed the acquisition of Gryphon Minerals, adding another high quality gold asset to its portfolio.  Pursuant to the acquisition, shareholders of Gryphon received 70,638,853[1] common shares of Teranga, on the basis of 0.169 Teranga common share for each Gryphon common share not already held by the Company.

Focused in Burkina Faso, Gryphon’s assets included the Banfora development project (now renamed Wahgnion to reflect the local culture), along with two exploration joint venture properties offering considerable upside potential. Construction of the Wahgnion mill is expected to commence in the second quarter of 2018.

Together with the strength and complementary nature of Gryphon’s assets, management team, regional operating experience, exploration expertise and social license, Teranga Gold is emerging as West Africa’s next multi-asset, mid-tier gold producer.

[1] Number of shares and share prices have not been modified to reflect Teranga’s reverse share consolidation completed on May 5, 2017.