Teranga Gold Corporation reported consolidated gold production of 288,768 ounces for 2019, exceeding the top end of its full-year production guidance at both Sabodala in Senegal and at Wahgnion in Burkina Faso. Annual production increased by 18% over the 245,230 ounces of gold produced in 2018. Wahgnion achieved commercial production effective November 1, 2019 and surpassed the high end of its production guidance of 30,000-40,000 ounces with a total of 47,492 ounces of gold. Sabodala topped its 2019 anticipated production guidance of 215,000-230,000 ounces with a total of 241,276 ounces of gold produced.

Prior to announcing its acquisition of the Massawa gold project from Barrick Gold, which is expected to close in the first quarter of 2020, the Company had been targeting 2020 gold production of between 300,000 and 350,000 ounces based on the latest technical reports filed for each of its Sabodala and Wahgnion gold mines. However, with production of Massawa's free-milling ore expected to commence at Sabodala's existing carbon-in-leach plant in the second half of this year, 2020 production is expected to increase beyond the previously anticipated range. Within six months of closing the Massawa acquisition, Teranga plans to complete a pre-feasibility study highlighting updated production and costs for the integrated Sabodala-Massawa gold complex.