Leading Independent Proxy Advisory Firms Recommend Teranga Shareholders Approve Oromin Transaction and Elect Management's Director Nominees

TORONTO, ONTARIO--(Marketwired - July 11, 2013) - Institutional Shareholder Services Inc. (ISS), Glass Lewis & Co. (GL) and Ownership Matters Pty. Ltd. (Ownership Matters), three leading proxy advisory firms, have all recommended that shareholders of Teranga Gold Corp. (TSX:TGZ)(ASX:TGZ) vote FOR the proposed acquisition of Oromin Explorations Ltd ("Oromin") and FOR management's director nominees up for election at the upcoming annual and special meeting on July 18, 2013.

In all three reports, ISS, GL and Ownership Matters recommend that shareholders vote FOR the proposed resolutions put forward by management, specifically, the approval of the offer to acquire Oromin; the election of directors; the appointment of auditors; and the ratification of the Advanced Notice By-Law.

Welcoming the findings of ISS, GL and Ownership Matters, Alan Hill, Teranga's Executive Chairman said: "We are very pleased to receive support from all three firms. This further confirms that we have the right strategy and the right team to move us closer to our goal of becoming a mid-tier gold producer. We would like to thank our shareholders for their continued support and look forward to maximizing shareholder value as we execute on our business plan."

ISS is the world's leading provider of corporate governance solutions to the global financial community. More than 1,700 institutional clients rely on the expertise of ISS to help them make more informed investment decisions on behalf of their shareholders.

GL is a leading, independent, governance analysis and proxy voting firm, serving more than 900 institutional investors globally. GL's research focuses on the long-term financial impact of investment and proxy vote decisions and assists institutional investors in making sound decisions by uncovering and assessing governance, business, legal, political and accounting risks.

Ownership Matters is a leading independent, Australian-based, governance analysis and proxy advisory firm. The firm is focused on the governance of Australian companies and has a track record of identifying concerns and governance issues in Australian capital markets. Ownership Matters has a suite of services aimed at financial institutions including a proxy voting advisory service for resolutions put to annual general meetings and a reporting service that will identify governance risks at listed companies.

If you have any questions or need assistance in voting your BLUE proxy or BLUE Voting Instruction Form, please call Kingsdale Shareholder Services Inc. at 1-866-229-8651 (toll free within North America) or 1-416-867-2272 (collect calls accepted), or by email at contactus@kingsdaleshareholder.com.

Teranga shareholders who hold their shares in the form of CHESS Depository Interests (CDIs) can contact Radar Shareholder Engagement either by mail at Radar Shareholder Engagement, Level 7, 107 Pitt Street, SYDNEY, NSW, Australia, 2000, by toll-free telephone in Australia at 1-800-850-191 or collect call outside Australia at +61-2-8256-3365, or by e-mail at teranga@shareholderupdate.com.au.

About TERANGA

Teranga is a Canadian-based gold company listed on the Toronto Stock Exchange (TSX:TGZ) and Australian Securities Exchange (ASX:TGZ). Teranga is principally engaged in the production and sale of gold, as well as related activities such as exploration and mine development.

Teranga's mission is to create value for all of its stakeholders through responsible mining. Its vision is to explore, discover and develop gold mines in West Africa, in accordance with the highest international standards, and to be a catalyst for sustainable economic, environmental and community development. All of its actions from exploration, through development, operations and closure will be based on the best available techniques.