Teranga Gold Corporation (fka TGCDF)

[ConferredDiligence]

News Out! Teranga Gold Achieves Strong 2016 Operating Performance.

2016 Highlights

Achieved record high production of 216,735 gold ounces, surpassing guidance of 200,000-215,000 gold ounces

Achieved cost guidance as unit mining and processing costs hit record low

Total cash costs(1) are expected to be within the mid-point of our 2016 guidance range of $600-$650 per ounce

All-in sustaining costs(1) are expected to be within the mid-point of our 2016 guidance range of $900-$975 per ounce

Strengthened the Company's balance sheet with a cash position at year end of $95.2 million, compared to $44.4 million as at December 31, 2015

Completed the Gryphon Minerals acquisition and commenced the Banfora gold project feasibility study

Completed the Sabodala mill optimization - under budget and ahead of schedule

Advanced our exploration programs in Senegal, Burkina Faso and Côte d'Ivoire

Extended industry-leading health and safety record to more than 3 years without a lost time injury

Received awards for our corporate social responsibility program from the United Nations Global Compact Network Canada and from the Prospectors & Developers Association of Canada

2017 Outlook

The Company's outlook for 2017 is as follows:

Production: 205,000 to 225,000 gold ounces(2)

All-in sustaining costs (excluding non-cash inventory movements and amortized advanced royalty costs): $900 to $975 per ounce(1). All-in sustaining costs (including non-cash inventory movements and amortized advanced royalty costs): $1,000 to $1,075 per ounce(1).

http://www.terangagold.com/English/investors/news/newsreleasedetails/2017/Teranga-Gold-Achieves-Strong-2016-Operating-Performance/default.aspx