Mr. Stephen Mullowney reports

TRX GOLD REPORTS 2023 ANNUAL MEETING VOTING RESULTS

TRX Gold Corp. has released the voting results from its 2023 annual general and special meeting, held Feb. 29, 2024.

A total of 139,606,302 common shares were voted, representing 50.01 per cent of the issued and outstanding common shares of the company. Shareholders voted in favour of all items of business before the meeting.

Item voted upon                                        Results of vote 

                                           For results of vote               Withhold
Appointment of Dale Matheson 
Carr-Hilton Labonte LLP, 
chartered professional 
accountants, as auditor and 
authorizing the directors to 
fix the remuneration of the 
auditor                                    138,153,716 (98.96%)      1,452,586 (1.04%)     
Set the number of directors at five        100,687,349 (97.35%)      2,739,878 (2.65%)     
Appoint Stephen Mullowney as director      101,099,626 (97.75%)      2,327,601 (2.25%)     
Appoint Dr. Norman Betts as director       101,058,185 (97.71%)      2,369,042 (2.29%)     
Appoint Andrew Cheatle as director         101,210,454 (97.86%)      2,216,773 (2.14%)     
Appoint Shubo Rakhit as director           101,228,370 (98.47%)      2,198,857 (1.53%)     
Appoint Richard J. Steinberg as director   101,841,258 (97.02%)      1,585,969 (2.98%)     
Confirmation of bylaw No. 3                 99,463,715 (96.17%)      3,963,512 (3.83%)     

Stephen Mullowney, TRX Gold chief executive officer, stated: "We are very pleased with the voter turnout. It's great to see the continued engagement and support from our shareholders. TRX Gold had an exceptional year of growth in fiscal 2023, and we expect more of the same for fiscal 2024."

About TRX Gold Corp.

TRX Gold is rapidly advancing the Buckreef gold project. Anchored by a mineral resource published in May, 2020, the project currently hosts a National Instrument 43-101 measured and indicated mineral resource of 35.88 million tonnes at 1.77 grams per tonne gold containing 2,036,280 ounces of gold and an inferred mineral resource of 17.8 mt at 1.11 g/t gold for 635,540 oz of gold. The leadership team is focused on creating both near-term and long-term shareholder value by increasing gold production to generate positive cash flow. The positive cash flow will be utilized for exploratory drilling with the goal of increasing the current gold resource base and advancing the sulphide ore project, which represents 90 per cent of current gold resources. TRX Gold's actions are led by the highest environmental, social and governance standards, evidenced by the relationships and programs that the company has developed during its nearly two decades of presence in the Geita region in Tanzania.