Teranga Gold Corporation announced strong drill results on both the oxide and fresh mineralization from its Woulo Woulo prospect at the Afema exploration project ("Afema") in southeastern Cote d'Ivoire, West Africa. Woulo Woulo drill results released include numerous near-surface gold intercepts and expand a nearly 3-kilometre strike extent of continuous known gold mineralization to depths exceeding 150 metres. Results indicate that Woulo Woulo remains open along trend and to depth, building upon strong initial results announced in September 2020. Bottle roll tests conducted for a preliminary understanding of the potential leachability provided encouraging results. The Woulo Woulo prospect is the most recent discovery at Afema, a project that covers more than 1,400 square kilometres. It includes a historical near-surface oxide and sulphide resource and lies within an area hosting several gold mineralized structures on extensions from prolific gold belts in Ghana. The Woulo Woulo prospect is currently comprised of four parts: North, Central, South and East. Woulo Woulo West is now being readied for trenching and drilling. Each component of this prospect exhibits the same unique geologic host displaying very similar alteration, structure, veining and mineralization over a presently defined minimum strike extent approaching 3,000 metres. The recent discovery at the Woulo Woulo prospect has been outlined utilizing coincident field mapping/prospecting observations, gold-in-soil geochemistry, airborne magnetics/radiometrics imagery and excavator trenching results. All have culminated in an ongoing systematic RC and DD drilling evaluation. To date, the company drilled 137 DD holes and 23 RC holes totaling more than 22,000 metres at this high-priority prospect. The host rock geology of the gold mineralization at the Woulo Woulo prospect is an altered felsic intrusive unit within a mixed sedimentary and mafic volcanic sequence. Two distinct types of alteration have been observed, one dominated by hematite and the second dominated by sericite. Both display similar brittle shear fracturing, occasionally brecciated, and multiple oriented fracture-controlled quartz veining with minor pyrite. The mineralized felsic unit is exposed at surface and drilling to-date has not identified a lower depth limit. In addition, the felsic unit remains open to further extension along trend both to the north and south. The most recent drilling program has focused on both infill drilling at 40-metre sections along the current 3 km strike length, as well as stepping back from the earlier successful drilling campaign to test the extent and continuity of mineralization to greater depths. This ongoing phase of drilling has demonstrated that the Woulo Woulo gold mineralized body remains robust to the depths drilled. Positive grades and widths of mineralization, encountered in drilling program since discovery in early 2020, remain open to along trend and to-depth expansion, which will be evaluated further during multi-drill exploration program. Next Steps for Afema Property: Continue the multi-drill exploration campaign at the Woulo Woulo prospect, the Niamienlessa structural trend and the Afema Shear. Expand trenching and drilling to new areas of interest within the Afema mining license and outward onto the three regional exploration permits. Initiate early-stage metallurgical test work and environmental and social assessments. Work towards completing an initial resource estimation for all of Woulo Woulo, Afema Shear and Niamienlessa, expected during first half 2021.