Note (1) Total cash cost per ounce is a non-IFRS financial measure with no standard meaning under IFRS
Note (2) For 2013, reflects impact of new IFRS standard for deferred stripping
CORPORATE DIRECTORYDirectorsAlan Hill, Executive ChairmanRichard Young, President and CEOChristopher Lattanzi, Non-Executive DirectorOliver Lennox-King, Non-Executive DirectorAlan Thomas, Non-Executive DirectorFrank Wheatley, Non-Executive DirectorSenior ManagementAlan Hill, Executive ChairmanRichard Young, President and CEOMark English, Vice President, Sabodala OperationsPaul Chawrun, Vice President, Technical ServicesNavin Dyal, Vice President and CFODavid Savarie, Vice President, General Counsel & Corporate SecretaryKathy Sipos, Vice President, Investor & Stakeholder RelationsMacoumba Diop, General Manager and Government Relations Manager, SGORegistered Office121 King Street West, Suite 2600Toronto, Ontario, M5H 3T9, CanadaT: +1 416-594-0000F: +1 416-594-0088E: generalmailbox@terangagold.comW: www.terangagold.comSenegal Office2K PlazaSuite B4, 1er Etagesis Route du Meridien PresidentDakar AlmadiesT: +221 338 693 181F: +221 338 603 683AuditorDeloitte & Touche LLPShare RegistriesCanada: Computershare Trust Company of CanadaT: +1 800 564 6253Australia: Computershare Investor Services Pty LtdT: 1 300 850 505Stock Exchange ListingsToronto Stock Exchange, TSX code: TGZAustralian Securities Exchange, ASX code: TGZ
Issued Capital
----------------------------------------------------------------------------Issued shares 245,618,000----------------------------------------------------------------------------Stock options 17,139,167----------------------------------------------------------------------------
Stock Options - Exercise Profile
----------------------------------------------------------------------------Exercise Price (C$) Options----------------------------------------------------------------------------$3.00 17,139,167----------------------------------------------------------------------------
ABOUT TERANGA
Teranga Gold Corporation 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 was created to acquire the Sabodala gold mine and a large regional exploration land package, located in Senegal, West Africa, within the West African Birimian geological belt. Management believes the mine operation, together with the Company's prospective 1,200 km2 land package, provides the basis for growth in reserves, production, earnings and cash flow as new discoveries are made and processed through the Company's existing mill. The Company is focused on growth - growth in reserves, growth in production - while building a strong balance sheet to facilitate its actions.
Forward-Looking Statements
This report contains certain statements that constitute forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Teranga, or developments in Teranga's business or in its industry, to differ materially from the anticipated results, performance, achievements or developments expressed or implied by such forward-looking statements. Forward-looking statements include all disclosure regarding possible events, conditions or results of operations that is based on assumptions about future economic conditions and courses of action. Forward-looking statements may also include, without limitation, any statement relating to future events, conditions or circumstances. Teranga cautions you not to place undue reliance upon any such forward-looking statements, which speak only as of the date they are made. Forward-looking statements relate to, among other things, the expected use of proceeds of the offering and the expected closing date of the offering. The risks and uncertainties that may affect forward-looking statements include, among others: economic market conditions; and other risks detailed from time to time in Teranga's filings with Canadian provincial securities regulators. Forward-looking statements are based on management's current plans, estimates, projections, beliefs and opinions, and, except as required by law, Teranga does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs and opinions change.
Nothing in this report should be construed as either an offer to sell or a solicitation to buy or sell Teranga securities.
Competent Persons Statement
Julia Martin, P.Eng., MAusIMM (CP), with AMC Mining Consultants (Canada) Ltd., who is independent of Teranga, is a "qualified person" as defined in NI 43-101 and a "competent person" as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Ms Martin has reviewed and accepts responsibility for the reserve estimate disclosed above. Ms Martin has consented to the inclusion of this information in the form and context in which it appears in this Quarterly Report.
The technical information contained in this Quarterly Report relating to the mineral resources is based on information compiled by Ms. Patti Nakai-Lajoie, who is a member of the Association of Professional Geoscientists of Ontario. She is a Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects. Ms. Nakai-Lajoie has consented to the inclusion of this information in the form and context in which it appears in this Quarterly Report. Ms.Nakai-Lajoie is a full-time employee of Teranga and not considered to be independent of Teranga.
The technical information contained in this Quarterly Report relating to the regional exploration is based on information compiled by Mr. Martin Pawlitschek, who is a member of the Australian Institute of Geoscientist. He is qualified as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" and is a "qualified person" as defined in NI 43-101. Mr. Pawlitschek has consented to the inclusion of this information in the form and context in which it appears in this Quarterly Report. Mr. Pawlitschek is a full-time employee of Teranga and not considered to be independent of Teranga.
(1) This production target is based on existing proven and probable reserves only.(2) This production target is based on existing proven and probable reserves only.(3) Total cash costs per ounce is a common financial performance measure in the gold mining industry but has no standard meaning under IFRS. Total cash costs per ounce includes royalties paid to the local government and reflects inventory movements, in line with the Company's accounting policies and industry standards.(4) This production target is based on existing proven and probable reserves only.(5) Gold price assumed is $1500 per ounce.(6) This exploration target is not a Mineral Resource. The potential quality and grade is conceptual in nature and there has been insufficient exploration to define a Mineral Resource. It is uncertain if further exploration will result in the determination of a Mineral Resource.
Contacts:
Teranga Gold Corporation
Kathy Sipos
Vice-President of Investor & Stakeholder Relations
+1 416-594-0000
ksipos@terangagold.com
www.terangagold.com
