Teranga Gold Reports Strong Initial Drill Results at Afema, TORONTO: September 17, 2020 – Teranga Gold Corporation ("Teranga" or the "Company") (TSX: TGZ, OTCQX:TGCDF) is pleased to announce extensive gold mineralization starting at surface, numerous highgrade 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 Cte 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 nearsurface 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 Highlights • 80.5 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-007 • 41 m @ 1.97 g/t gold, including 11 m @ 3.96 g/t gold from 119 m DHD in WWDD-005 • 35 m @ 1.64 g/t gold, including 15 m @ 2.23 g/t gold from 18 m DHD in WWDD-025 • 20 m @ 1.59 g/t gold, including 7 m @ 2.52 g/t gold from 0 m DHD in WWDD-037 • 83 m @ 1.10 g/t gold, including 10 m @ 1.77 g/t gold and 15 m @ 1.70 g/t gold from 10 m DHD in WWRC001