Teranga Gold Reports Strong Initial Drill Results at Afema, With Widespread Gold Mineralization at New Woulo Woulo Discovery

Teranga Gold Reports Strong Initial Drill Results at Afema, With Widespread Gold Mineralization at New Woulo Woulo Discovery

Woulo Woulo prospect returns 1.64 g/t gold over 80.5 metres and 1.97 g/t gold over 41 metres
(All amounts are in U.S. dollars unless otherwise stated)TORONTO, Sept. 17, 2020 (GLOBE NEWSWIRE) — Teranga Gold Corporation (“Teranga” or the “Company”) (TSX: TGZ, OTCQX:TGCDF) is pleased to announce extensive gold mineralization starting at surface, numerous high-grade gold intercepts and a new discovery at the Woulo Woulo prospect from Teranga’s initial drill results at its Afema exploration project (“Afema”) in southeastern Côte d’Ivoire (Figure 1 in Appendix B).Afema covers more than 1,400 km2, consisting of the Afema mining license and three exploration permits – Ayame, Mafere and Aboisso (Figure 2 in Appendix B). The Afema mine license has a historical near-surface oxide and sulphide resource within an area hosting several gold mineralized structures on extensions from prolific gold belts in Ghana.Teranga holds a 51% joint venture with the private investment company Sodim Limited, and has the right to earn a 70% interest in Afema through the completion of a three-year, $11-million exploration and community relations work program on the Afema mine license and exploration permits and the delivery of a positive feasibility study. A listing of all the Woulo Woulo drill results received to date including 17 diamond drill (“DD”) holes and 23 reverse circulation (“RC”) holes is presented as Table 1 in Appendix A. 
Drilling Highlights80.5 m @ 1.64 g/t gold, including 21 m @ 2.79 g/t gold and 13 m @ 2.75 g/t gold from 48.5 m down hole depth (DHD) in WWDD-00741 m @ 1.97 g/t gold, including 11 m @ 3.96 g/t gold from 119 m DHD in WWDD-005
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