teranga Gold

Published : April 28th, 2016

Teranga Gold Strengthens Management Team with Appointment of Chief Operating Officer and Vice President, Exploration

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Keywords :   Coal | Evaluation | Gold Mine | Gold Mines | Growth | Lead | Panama | Senegal |

Teranga Gold Strengthens Management Team with Appointment of Chief Operating Officer and Vice President, Exploration

TORONTO, ONTARIO--(Marketwired - April 28, 2016) -Teranga Gold Corporation ('Teranga' or the 'Company') (TSX:TGZ)(ASX:TGZ) is pleased to announce that it is strengthening its management team and increasing its focus on exploration with the appointments of Paul Chawrun to Chief Operating Officer and David Mallo to Vice President, Exploration.

'These management changes underscore our commitment to achieving operational excellence and exploration success on our large and highly prospective land position on one of the best emerging gold belts in the world,' stated Richard Young, President & Chief Executive Officer of Teranga. 'Paul and David are senior mining professionals and each has a long track record of success. Together, they will both play a critical role in the growth of our Company in the coming years.'

Paul Chawrun - Chief Operating Officer

Paul Chawrun has been promoted to Chief Operating Officer and will be focused on achieving operational excellence at the Company's Sabodala gold mine in Senegal, West Africa. Mr. Chawrun has served as Teranga's Vice President, Technical Services, playing a fundamental role in steering the Company's successful acquisition and integration of the Oromin Joint Venture Group ('OJVG') property, the development of the high-grade Gora satellite deposit, and driving several high-return organic growth initiatives including a plant expansion and heap leaching. Prior to Teranga, Mr. Chawrun held a number of senior management, project development and operations positions at Detour Gold, Dynatec Mining, Suncor Energy and Fording Coal (now part of Teck Resources). Mr. Chawrun holds a B.Sc. Mining Engineering from Queen's University, a B.Sc. Geology from McMaster University, and an MBA from Athabasca University.

David Mallo - Vice President, Exploration

Since its initial public offering in 2010, Teranga has increased its reserve base, through exploration and acquisition, net of production by more than 1 million ounces, or 80 percent. Currently the Company has 2.6 million ounces in reserves with a 13.5-year mine life.

Moving forward the Company is channeling more resources into exploring its large and prospective land package. Leading Teranga's exploration team will be David Mallo, who has been appointed to the newly created position of Vice President, Exploration.

'It is a wonderful opportunity to be back exploring this high potential property on a world-class gold belt,' stated David Mallo. 'I was thrilled when Teranga asked me to do some consulting work starting earlier this year and I am even more excited to join the team on a full-time basis. While I have only been back a short time, I am very encouraged by what I am seeing both on the expanded mine license and on the large regional land package.'

Added Mr. Young, 'With his intimate knowledge of our property, David Mallo is the natural choice to lead our exploration team.'

Mr. Mallo holds a Bachelor of Science (Specialist) degree from Brandon University and has over 35 years of mineral exploration experience predominantly in project evaluation and management of exploration programs. As Manager-Advanced Projects with Prime Explorations Ltd., Mr. Mallo was an integral part of the acquisition, discovery, and exploration management team at the world-class Eskay Creek gold deposit in northern British Columbia. As Executive Vice President of Exploration for Adrian Resources Ltd., Mr. Mallo managed all aspects of the extensive exploration programs through feasibility at the world-class Petaquilla copper-gold property in Panama.

More recently, Mr. Mallo was the Vice President of Exploration for Oromin Explorations Ltd. at the OJVG Gold Project in Senegal, West Africa. In this capacity, he was responsible for designing, implementing and managing all aspects of the advanced exploration campaigns from the 2004 inception of the OJVG Gold Project through feasibility and merger with Teranga in 2013. While managing the exploration programs for Oromin, the OJVG Gold Project progressed from a grassroots property to a viable multi-million-ounce gold property hosting numerous gold deposit discoveries, including Teranga's currently operating Masato and Golouma deposits.

About Teranga Gold

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 in Senegal, West Africa.

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 Senegal and 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. For more information, please refer to www.terangagold.com.

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Gold and Silver Prices for these countries : Panama | Senegal | All

teranga Gold

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teranga Gold is a development stage company based in Canada.

teranga Gold is listed in Canada. Its market capitalisation is CA$ 1.3 billions as of today (US$ 1.0 billions, € 863.4 millions).

Its stock quote reached its lowest recent point on February 05, 2016 at CA$ 0.38, and its highest recent level on February 16, 2021 at CA$ 12.33.

teranga Gold has 107 350 000 shares outstanding.

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