Mr. Richard Young reports

TERANGA GOLD COMPLETES $67.4 MILLION EQUITY OFFERING

Teranga Gold Corp. has completed the previously announced offering of 32.5 million common shares of the company on a bought deal basis at a price of $1.05 per common share through a syndicate of underwriters co-led by RBC Capital Markets and Cormark Securities Inc., and including BMO Capital Markets, for gross proceeds of approximately $34.1-million. At the closing of the public offering, the underwriters also partially exercised their overallotment option and purchased an additional 2,155,000 common shares from Teranga at the same price of $1.05 per common share for additional gross proceeds of approximately $2.3-million.

As previously announced, an additional 29.5 million common shares were also issued on a non-brokered-private-placement basis at the same price of $1.05 per common share to Tablo Corp. for gross proceeds of approximately $31-million. Following completion of the concurrent private placement, Tablo, controlled by David Mimran, holds a total of 97,981,960 common shares, or 18.26 per cent, of the issued and outstanding common shares (calculated on a non-diluted basis and not including the exercise of the balance of the overallotment option).

About Teranga Gold

Teranga is a multijurisdictional West African gold company focused on production and development, as well as the exploration, of more than 5,000 square kilometres of land located on prospective gold belts.

Since its initial public offering in 2010, Teranga has produced more than 1.2 million ounces of gold from its operations in Senegal.

We seek Safe Harbor.