Trans Siberian Gold : Q1 Production and Operations Update

Trans-Siberian Gold plc (TSG.LN), a low cost, high grade gold producer in Russia, announces its production update at the Asacha Gold Mine for the three months ended 31 March 2020 ('Q1' or the 'Period').

Alexander Dorogov, Chief Executive Officer of TSG, commented: 'Our utmost priority at this uncertain time is the health and well-being of our employees amidst the global pandemic. Having implemented stringent precautionary measures, our operations continue without disturbance. Moreover, we are beginning to incur cost benefits driven by the lower oil prices as well as the connected devaluation of the local currency.

In spite of the slowdown this quarter, we are trading in line with management expectations and retain a positive outlook on our annual production reiterating our full-year 2020 guidance of 38,000 - 42,000 ounces. Our drilling campaign is demonstrating some exciting results, and we now expect to initiate production at Vein 25 sooner than planned. We look forward to providing an update on this during the next quarter.

The results for this quarter must be put into perspective against an exceptionally strong prior-year performance, which remains the Group's record to date, and which we are hopeful to outperform in the future.'

Contact:

Stewart Dickson

Tel: [phone]

About TSG

TSG is focused on low cost, high grade mining operations and stable gold production from its 100% owned Asacha Gold Mine in Far East Russia. The Company also holds the licence for the development and exploration of the Rodnikova deposit, one of the largest gold fields in South Kamchatka.

Market Abuse Regulations

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR'). Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.

Disclaimer

This announcement contains 'forward-looking statements' - that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as 'expects,' 'anticipates,' 'intends,' 'plans,' 'believes,' 'seeks,' 'should' or 'will.' Forward-looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behaviour of financial and metals markets, fluctuations in interest and/or exchange rates and metal prices and from numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different that those expressed in our forward-looking statements.

(C) 2020 Electronic News Publishing, source ENP Newswire