Teranga Adds Depth to Management Team-To Focus on Growth

Thu Sep 6, 2012 9:00am EDT

* Reuters is not responsible for the content in this press release.

  TORONTO, ONTARIO, Sep 06 (MARKET WIRE) --
Teranga Gold Corporation (the "Company") (TSX:TGZ)(ASX:TGZ) is pleased to
announce several promotions and new appointments to provide the
management depth to oversee the execution of the Company's vision of
becoming a 250,000 to 350,000 ounce gold producer in the near term and a
400,000 to 500,000 ounce producer in the medium term.

    Alan Hill has been appointed Executive Chairman, formerly Chairman and
Chief Executive Officer and Richard Young has been appointed President
and Chief Executive Officer, formerly President and Chief Financial
Officer effective immediately. Mark English has also been promoted to
Vice President, Sabodala Operations, formerly Manager, Sabodala Gold
Operations. In addition, Navin Dyal has agreed to join the senior
management team as Vice President and Chief Financial Officer. Mr. Dyal
has held senior financial positions, most recently at a prominent
Canadian mining company.  

    "My appointment and that of Richard Young is a natural progression. We
have worked together for more than 20 years and we expect to work
together for a long time to come to grow this Company. These changes
allow me to hand over some of the day-to-day responsibilities and focus
on executing on our vision," stated Mr. Hill. 

    Yani Roditis has resigned as Vice President Operations to take another
exciting opportunity closer to his home in Colorado.  

    "It is with regret that we accept Yani's resignation. We have worked with
Yani for almost 20 years. He has worked and travelled tirelessly for us
for that time. He was looking for a role closer to his home in Colorado
that would involve less travel but keep him challenged. He leaves us with
an operation running better than at any time in its life. We thank Yani
for all his hard work and dedication," added Mr. Hill. 

    A Technical Services Group is being set up at the Company's corporate
office in Toronto to provide additional technical services to the
Sabodala operations. A further announcement will be made shortly
regarding the appointment of a new Vice President, Technical Services who
will head up this team.

    All biographies are available on the Company's web site.

    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, from
Mineral Deposits Limited. Management believes the mine operation,
together with the Company's prospective 1,450 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 Sabodala Gold Operation, which came into operation in 2009, is
located 650 kilometres east of the capital Dakar within the West African
Birimian geological belt in Senegal, and about 90 kilometres from major
gold mines and discoveries in Mali. 

    The Company's mission is to share the benefits with all of its
stakeholders through responsible mining. Teranga strives to act as a
responsible corporate citizen by building projects together with the
communities near its planned operations and by committing to using best
available technologies as it carries out its actions. The Company aims to
achieve benefits for all parties involved, and to contribute to the
sustainability and improved livelihoods for the communities in which it
operates. Its vision is to become a preeminent gold producer in West
Africa while setting the benchmark for responsible mining.

Contacts:
Teranga Gold Corporation
Kathy Sipos, Vice-President,
Investor & Stakeholder Relations
+1 416-594-0000
ksipos@terangagold.com
www.terangagold.com

Copyright 2012, Market Wire, All rights reserved.

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