Tanzanian Gold Corporation announced that TanGold (operating through its wholly owned subsidiary in Tanzania) and its joint venture partner, The State Mining Company, have worked together to submit an updated mine plan for the Buckreef Gold Project to the Mining Commission in Tanzania. STAMICO, which is 100% owned by the United Republic of Tanzania (the Government), owns a 45% non-dilutable equity interest in Buckreef Gold Company Limited, which wholly-owns the Project. Changing circumstances necessitated an updated mine plan, including reviewing the mining license area to accommodate artisanal mining on certain concessions, and the separation of the oxide and sulphide mine processing plants for metallurgical considerations. As part of the submission to the Mining Commission, Buckreef intends to relinquish certain concessions since this has no impact on the Buckreef concession and Mineral Resources (2.04 million ozs), as reported in the Company. The updated mine plan, once approved, will replace the mine plan submitted to the Mining Commission in 2017 as part of the renewal of Buckreef's Special Mining License. An update of a mine plan is a normal procedure under the provisions of the Tanzanian mining laws. The Company has also reviewed the Buckreef Joint Venture Agreement with STAMICO to bring its terms in line with recent changes in the Tanzanian mining laws and to modernize the working arrangement between the parties. The parties have identified and agreed to amendments to the JV Agreement, which have now been submitted to the relevant Government authorities for further processes. The amendments are subject to the obtaining of necessary Government approvals and the finalization of relevant legal documentation. One provision in the new mining laws, which provides for the Government to receive a free carried interest in mining projects, does not directly address the situation where the Government already has a significant interest in the mining project, such as in the case of Buckreef where the Government, through STAMICO, has a 45% non-dilutable equity interest in the Project. TanGold is in consultations with the Government regarding how best to address this nuanced issue given the Government's significant interest already held in Buckreef through STAMICO. The Company continues to advance the Buckreef Feasibility Study. SGS Lakefield is in the process of completing its initial metallurgical test work. Terrane Geoscience is well advanced in completing a geotechnical study, which will be crucial in determining pit slopes. The Company has also advanced internal pit modelling. In addition, the Phase III exploration program is ongoing, and the Company will provide an update on the results of both the Phase III exploration program and various components of the Buckreef Feasibility Study when they are completed.