121 Conference New York June 6-7, 2017 The Next - PowerPoint PPT Presentation

121 Conference – New York June 6-7, 2017 The Next Multi-Jurisdictional West African Gold Producer

Forward-Looking Statements This presentation contains certain statements that constitute forward-looking information within the meaning of applicable securities laws (“forward -looking statements”), which reflects management’s expectations regarding Teranga Gold Corporation’s (“Teranga” or the “Company”) future growth, results of operations (including, without limitation, future production and capital expenditures), performance (both operational and financial) and business prospects (including the timing and development of new deposits and the success of exploration activities) and opportunities. Wherever possible, words such as “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “trends”, “indications”, “potential”, “estimates”, “predicts”, “forecasts”, “focused on”, “anticipate” or “does not anticipate”, “believe”, “intend”, “ability to” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might”, “will”, or are “likely” to be taken, occur or be achieved, have been used to identify such forward looking information. Specific forward-looking statements in this presentation include the commencement of expected drill programs, anticipated future cash flows, anticipated construction readiness activities for the Company’s Banfora gold project in Burkina Faso as well as the anticipated completion of construction of the Banfora project - including the first gold pour, the anticipated discovery of reserves at the Banfora project, the timing of completion of a Feasibility Study for the Banfora project, and Teranga’s estimated full year financial and operating totals, as well as anticipated 2017 operating results. Although the forward-looking information contained in this presentation reflect management’s current beliefs based upon information currently available to management and based upon what management believes to be reasonable assumptions, Teranga cannot be certain that actual results will be consistent with such forward looking information. Such forward-looking statements are based upon assumptions, opinions and analysis made by management in light of its experience, current conditions and its expectations of future developments that management believe to be reasonable and relevant but that may prove to be incorrect. These assumptions include, among other things, the ability to obtain any requisite governmental approvals, the accuracy of mineral reserve and mineral resource estimates, gold price, exchange rates, fuel and energy costs, future economic conditions, anticipated future estimates of free cash flow, and courses of action. Teranga cautions you not to place undue reliance upon any such forward-looking statements The risks and uncertainties that may affect forward-looking statements include, among others: the inherent risks involved in exploration and development of mineral properties, including government approvals and permitting, changes in economic conditions, changes in the worldwide price of gold and other key inputs, changes in mine plans and other factors, such as project execution delays, many of which are beyond the control of Teranga, as well as other risks and uncertainties which are more fully described in Teranga’s Annual Information Form dated March 29, 2017, and in other filings of Teranga with securities and regulatory authorities which are available at www.sedar.com. Teranga does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs and opinions change. Nothing in this report should be construed as either an offer to sell or a solicitation to buy or sell Teranga securities. This presentation is as of May 30, 2017. All references to Teranga include its subsidiaries unless the context requires otherwise. This presentation contains references to Teranga using the words “we”, “us”, “our” and similar words and the reader is referred to using the words “you”, “your” and similar words. All dollar amounts stated are denominated in U.S. dollars unless specified otherwise. 2

Building a Profitable Multi-Asset Mid-Tier West African Gold Producer STRONG EXPLORATION BALANCE SHEET FULLY & SUPPORTIVE OPPORTUNITIES PERMITTED CORNERSTONE ON WORLD-CLASS STRONG DEVELOPMENT INVESTOR GOLD BELTS SOCIAL LICENSE ASSET IN & AWARD-WINNING BURKINA FASO CSR PRODUCING ASSET PROVEN & IN SENEGAL EXPERIENCED PROVIDES LEADERSHIP FOUNDATION TEAM FOR GROWTH 3

West Africa: One of the World’s Fastest Growing Regions for Gold Production TRANSITIONAL ECONOMIES (1) WEST AFRICA 6.8Moz NORTH AMERICA 8.2Moz 12.0Moz EUROPE 8.7Moz Senegal Burkina Faso ASIA Côte 20.4Moz d’Ivoire CENTRAL AMERICA 5.7Moz AFRICA 17.4Moz OCEANIA 11.7Moz SOUTH AMERICA 14.8Moz 4 Source: 2016 gold production from CPM Gold Yearbook 2017 Refer to Endnote (1) on the second last slide

Extensive Opportunities for Growth Senegal Sabodala Gold Mine Mali Status: Producing Reserves: 2.6Moz (2) Niger Burkina Faso The Gambia M&I: 4.4Moz (2) Guinea- Banfora Project Bisseau Status: Feasibility Guinea Gourma Exploration JV Golden Hill Exploration JV Dianra Sierra Benin Leone Ghana Côte d’Ivoire Togo Mahepleu Tiassale Liberia Guitry 5 Sangaredougou Refer to Endnote (2) on the second last slide

Significant Catalysts for 2017 Production • 2017 production outlook: 205,000 – 225,000 ounces (3) • Generate free cash flow (4) from Sabodala Development • Complete Banfora project feasibility study • Obtain board approval to proceed • Announce funding and construction Exploration • Senegal • Burkina Faso • Côte d’Ivoire 6 Refer to Endnotes (3) and (4) on the second last slide

Sabodala Provides Solid Platform For Value Creation & Long-Term Growth 2.6 Million Oz in 2P Reserves (2) Base Case Production Profile Reserve Development & Exploration • 4.4 million ounces in measured and • 13.5-year mine life with cash flow in • Focused on resource conversion at Niakafiri indicated resources (inclusive of 2P every year but one deposit reserves) at an average grade of • +200Koz average annual production • Advanced exploration prospects on mine license 1.62g/t (2) from 2012- 2024 (3) and several targets on the regional land package Opportunity to grow production by increasing 2017 Outlook Opportunity to increase material movement and 205K-225Koz (3) production through resource conversion at resource conversion and Niakafiri deposit on the new discoveries (5) mine license (5) 000’s oz Au +200Koz average annual production from 2012-2024 (3) 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 7 7 Refer to Endnotes (2), (3) and (5) on the second last slide

Fast-Tracking Completion of Banfora Feasibility Study H1 2019 Anticipated first H2 H1 H2 2018 2016 2017 2017 gold pour at Banfora Commenced Complete Seek board Construction drilling feasibility study approval and campaign to & technical commence confirm & report construction increase mid-year reserves 8

Exploring Highly Prospective Properties Across West Africa Burkina Faso • Banfora $4M Senegal • Golden Hill $4M 2017 Exploration Budget • Mine License $4M • Gourma $0.5M • Regional $2M Senegal $ 15 MILLION Côte d’Ivoire • $0.5M Burkina Faso Senegal Côte d'lvoire Operating Gold Mine/ Development Project 9

Niakafiri Deposit (Senegal) DINKOKONO Niakafiri Deposit is the Most Prospective Target SOUKHOTO on Senegal Mine License & is <5km from the Mill Some of the Widest and Highest Grade Mineralised Intervals Encountered to Date • 4.18 g/t Au over 23 metres including 6.52 g/t Au over 12 metres in MDD17-279 SABODALA NIAKAFIRI • 2.99 g/t Au over 33 metres including 4.23 g/t Au over 17 metres in MDD17-277 WEST • 2.41 g/t Au over 29 metres including 6.51 g/t Au over 6 metres in MDD17-281 • 3.19 g/t Au over 21 metres at the end-of-hole in MDD17-284 NIAKAFIRI MAIN Mine License (Senegal) Phase 2 Follow-up Commenced • Two drills currently active and focused on extending the NIAKAFIRI mineralisation along trend and to depth SOUTHWEST NIAKAFIRI SOUTHEAST Sabodala Current Niakafiri Reserve/Resource Base Mill • Measured and indicated resources of ~600,000 ounces, and over Niakafiri MAKI MEDINA 200,000 ounces of inferred, inclusive of 314,000 ounces in proven and probable reserves as at December 31, 2015 (2) 10 Refer to Endnote (2) on the second last slide