Teranga Gold Company Profile

Teranga Gold

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Teranga Gold

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Company Overview

Teranga is a multi-jurisdictional West African gold company focused on production and development as well as the exploration of more than 5,000 km2 of land located on prospective gold belts. Since its initial public offering in 2010, Teranga has produced more than 1.2 moz of gold from its operations in Senegal, which as of June 30, 2017 had a reserve base of 2.7 moz. Focused on diversification and growth, the Company is advancing its Wahgnion Gold Project, and conducting extensive exploration programs in three countries: Burkina Faso, Senegal and Côte d’Ivoire.

The Company has nearly 4.0 moz of gold reserves in total from its Sabodala Gold operations and Wahgnion Gold Project.

Teranga ended 2017 with production of 233 koz and a cash balance of US$88 million. Teranga has a strong balance sheet and the financial flexibility to execute on its growth strategy.

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. Teranga is a member of the United Nations Global Compact and a leading member of the multi-stakeholder group responsible for the submission ofthe first Senegalese Extractive Industries Transparency  Initiative revenue report. The Company’s responsibility report is prepared in accordance with its commitments under the United Nations Global Compact and in alignment with the Global Reporting Initiative guidelines. Teranga was awarded the 2017 Environmental and Social Responsibility award from the Prospectors & Developers Association of Canada.

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Alan R. Hill – Chairman
Richard Young – President and Chief Executive Officer, Director
Paul Chawrun – Chief Operating Officer
Navin Dyal – Chief Financial Officer
David Savarie – General Counsel and Corporate Secretary
Sepanta Dorri – Vice President, Corporate and Stakeholder Development
David Mallo – Vice President, Exploration
Aziz Sy – General Manager, Sabodala Gold Operation

Major Shareholders

Tablo Corporation* – 21.5%
Van Eck Associates Corporation – 6.7%
Heartland Advisors – 4.2%
Ruffer LLP – 3.7%
OppenheimerFunds – 3.1%
Dimensional Fund Advisors – 2.5%
Franklin Advisers – 2.2%
Fidelity Management & Research Company – 1.6%
Universal-Investment-Gesellschaft mbH – 1.6%
Colonial First State Global Asset Management – 1.6%

*Tablo Corporation is controlled by Mr. David Mimran, who is also a Director of Teranga Gold.

Projects Overview

Sabodala Gold Mine (Senegal)

• Largest gold mine in Senegal
• Produced over 1.4 moz since IPO in late 2010
• Significant opportunity to convert open pit and underground resources to reserves
• Exceeded 2017 guidance delivering record production of 233 koz
• 2018 production expected to be between 210 koz and 225 koz
• Based on Sabodala’s most recent NI 43-101 technical report filed in August 2017:
»» Reserve base of 2.7 moz
»» 13.5-year mine life
»» 5-year (2018-2022) profile of more than 1.2 moz in production and $230m in free cash flow

Wahgnion Gold Project (Burkina Faso)

(previously known as the Banfora Gold Project)

• Based on October 2017 feasibility study»» Initial reserve of 1.2 moz
»» First 5.5 years:
»» Production 131 koz
»» AISC ~$800/oz

• Recently completed infill drill program undertaken to convert between 25% and 50% of inferred resources to reserves
• Updated feasibility study targeted for mid-2018
• Expect to close project financing and commence mill construction in Q2 2018
• Multi-year exploration programme underway on more than a dozen exploration targets within trucking distance of the proposed mill

Exploration Of Prolific Gold Belts

• Exploration licenses include 14 in Burkina Faso, 2 in Senegal, 6 + 3 more pending in Côte d’Ivoire
• In 2017, Teranga invested more than $20 million in exploration activities, the majority of which was spent on reserve and resource expansion
• Aggressive 2018 exploration programme will focus on the following:
»» Golden Hill (Burkina Faso): providing an initial resource estimate and initiating an auger drilling programme over additional previously-identified prospects
»» Sabodala (Senegal): review and evaluation of 2017 drill and survey results to prepare for expanded drilling programme
»» Guitry (Burkina Faso): initial drilling evaluation of large target is underway
»» Afema (Côte d’Ivoire): extensive exploration on land package including preliminary techniques and drilling programmes
• In 2018, Teranga expects to release a resource and reserve estimation update for the Wahgnion project based on its 2017 drilling program at the Nogbele, Stinger, Fourkoura and Samavogo deposits

Contact Details

WEBSITE: www.terangagold.com

EMAIL:  tmoran@terangagold.com

PHONE: +1 416 594 0000

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