Trx Gold Corporation · AMEX:TRX
Trx Gold — Tanzanian Gold — Investor Presentation (May 2020)
22 slides from Trx Gold's investor presentation, May 20, 2020
Slide 1: Tanzanian Gold Presentation May 2020
Tanzanian Gold Presentation corporation May 2020
Slide 2: Cautionary Note
Cautionary Note ‘Tarzanian Gold Comoration ("Tanzanian Gold” or the “Company”), has takenall reasonable cee in producing and publishing information contained in this presentation. Tanzanian Gold does not warrant or make any representations regarding the use, validity, acauracy, completeness or relia
Slide 3: Emerging Gold Producer with Substantial Growth Potential
Emerging Gold Producer with Substantial Growth Potential NYSE:TRX, TSX:TNX tangoldeorp.com Recently doubled open pit mineable, M&l Resources atthe Buckreef Shear Zone to 2.34M oz Au at 1.59 g/t Au ata low discovery cost (~USS6/oz) Exploration target of 29M to 41M tonnes containing 1.2M to 2.2M oz of
Slide 4: Project milestones 2014 to 2020
2014 2018 2019 2020 * M&i resource of * Old PFS supported a__|| * 60holes (“17,650 m) | * M&l resource 1.2M oz Auat 1.56 16-year mine targeting both oxide expanded to 2.34M g/tAu producing ~51K oz of || and primary sulphide | oz Auat 1.59g/tAu . gold per year at an mineralization at a discovery cost
Slide 5: Vision for 2020 and Beyond
Vision for 2020 and Beyond Advancing the fully- of high-grade, near- Targeting 7,000 to 10,000 The upcoming feasibility permitted, PFS-stage surface oxide gold 07 of gold per year from study to evaluate an open Buckreef Gold Project in resources commenced in oxide ores pit targeting 150-175k oz of T
Slide 6: Risks: Fluctuating commodity prices
Risks. Fiictuating commodity pres $ Theis is most ely the time when yadptetiradansia) UNITES i acgrbaenebibere Lass) (ouhac tying Deneah burmarewore. OF Themine now open, and epee | CS. oe iw (ig Spee Imetine ‘Concept Pre-discovery: Discovery Feasibility Development Startup Depletion Activity Source
Slide 7: Median Mt Gold Grades
Median Mt Gold Grades. 8/¢ sus , Rosebel t Escakane i dyapriem Buzwag) baited Buckreef* — s.075 Asset selection criteria: Buclee inate to ptiees — oe costs: “ns See “8 Boungou = ip) { @ Higher throughput amined M&I Gold Grade (g/t) ‘Asset bubbie se indi rasfs presentec on the bass of meaeured gol ou
Slide 8: Comparable Company Analysis: Emerging Producers
Comparable Company Analysis Emerging Producers NYSE:TRX, TSX:TNX tangoldeorp.com Tanzanian Gold trades at an EV/resource multiple of US$43/0z Au, which is 41% below the average of gold companies advancing permitted, construction-stage gold projects Excellent potential fora material re-rating as we e
Slide 9: Capital Structure
‘. Tickers NYSE:TRX, TSX:TNX Capital Share Price (April 18,2020) _US$0.84 (C$1.17) SHARE OWNERSHIP. 52-Week Range US$0.36-USS1.20 (C$0.55-C$1.56) Structure Management, Friends & Family _ Retail Basic Shares Outstanding 160.4M Options 7.4Mi Warrants 43M? _ : 15% FD Shares Outstanding 172.0M Market Ca
Slide 10: Management and Directors
Jim Sinclair Executive Chairman * Became Chairman in April 2002 * Founder of the Sinclair Group of Companies (full brokerage financial services provider) * Acted as Precious Metals Advisor to Hunt Oil and the Hunt family from 1981 to 1984 for the liquidation of their silver position * Previously a g
Slide 11: Regional geology map
he ic egion | coNGo(oRC) 4 io. 2 aaa SOUTH AFRICA Key —-— Political boundary — Noajor Fault ei, Proterozoic px Archean RW Greenstone belt outing 0 HREM Greenstone areas (NyanzianKaviondian) WI erred utramatics Granitoids and gneisses Greenstone Belts | Bk Busia-Kakamoga MK — Migor-Kendy | MM Musoma-
Slide 12: Location of the Licences on Lake Victoria Greenstone Belt
LOCATION OF TRE LICENCES ON LAKE VICTORIA GREENSTONE BELT Flagship Buckreef Gold Project Location ‘BUCKREEF MAIN PROSPECT 29.52Mt @ 1.48g/ (1.408 MOzs) BINGWA PROSPECT BUZIBA PROSPECT SOUTH Pit PLOT MINE Hermie 224gt (116017 Ors) 29.491 @ 1089 (994,196 Ors) Reserve of 0.207Mt @ 1.54g/t (10,225. eee
Slide 13: Significant Exploration: 1,200m of Gold Mineralization Still Open
Significant Exploration 1,200m of Gold Mineralization - StillOpen 1,200 m (3,937 feet) of continuous gold mineralization in the Buckreef Shear Zone Data for model from almost 1,000 holes (140,000 meters) Open to the northeast, and down dip. ng extended the deposit by 300 m — BMRCD308: 5 including 7.
Slide 14: Buckreef Resources More than Doubled
Buckreef Resources More than Doubled Mi gold resources for the Buckreef Shear Zone more than doubled compared to the previ nate Incorporates the results of the 2019 Phase | and I drill program (52 holes, 17,650 m) Phi pit to convert inferred to M&l resources Phase Il: 37-hole expansion drilling exte
Slide 15: Stand Alone Oxide Operation Started
Stand Alone Oxide Operation Started No major permit required from the Federal and/or State governments to start production. Special Mining License (SML) good until 2027 (can be renewed) Pre-strip commenced April 6, 2020 Initial production expected in May 2020 Plant will be scaled up to 15 tph of cap
Slide 16: Oxide ore plan and stockpiles
Contain less than 2% of the gold in the PFS open pit. More suitable to be treated by a separate smaller plant. Initial focus is to mine and stockpile up to 1 million tonnes from the proposed oxide pit Oxide pit extends over a 37,000 m2 area 0.5 to 1.0 m of overburden above oxide pit ing stockpiles o
Slide 17: Plant Commissioning Almost Complete
Plant Commissioning Almost Complete Nesh-Mintech selected to construct Phase | plant We were able to use some of the heap leach equipment already on site to reduce costs. This plant will be used for testing material handling and liquid densities to finalize flow sheet for expansion in Q4 2020
Slide 18: Completed ~6,475 m of grade control RC drilling
Completed ~6,475 m of grade contro! RC drilling Grades from Phase | program were 8% to 22% higher than the wider spaced resource model grades, Phase ll to include 5,000 m of drilling (50% completed) to refine mining schedule of oxide ore starter pit, Three met holes completed; core sent to Lakefield
Slide 19: Exploration Targets
Exploration Targets 101 compliant) farch 17" 20201 Tonnage Grade Gold Target Area (g/t Au) {000 oz) Northeast Extension .0- 6. 1.40 - 2.50 180 - 482 Main Zone 25.0- 35.0 1.30-1.50 1,045 - 1, Total 29.0- 41.0 1,225 - 2,170 Excellent potential to materially expand the Buckreef Shear deposit at depth a
Slide 20: Preliminary gold production forecast from two plants
Preliminary gold production forecast (100% basis) from the operation of two plants to process oxide and sulphide ores from the Buckreef Shear deposit ~ Oxide ore in thin layer at surface, friable, suitable to a gravity-leaching conventional CIP Plant - Sulphide ore below oxides have a higher bond/mi
Slide 21: Why Tanzanian Gold?
Why Tanzanian Gold? NYSE:TRX, TSX:TNX tangoldeorp.com Oxide Mining Now with Staged Expansion Planned* Upcoming Sulphide Feasibility Study Targeting 150-175k oz per annum Wide Open Exploration 21
Slide 22: Tanzanian Gold Investor Relations
Tanzanian Gold Investor Relations corporation Investor Relations Manager: Michael Martin Email: m.martin@tangoldcorp.com Phone: 1-860-248-0999 Website: www.tangoldcorp.com