Acquisition

Tanzania Gold PLC
15 June 2007



Not for release, publication or distribution in whole or in part in or into the
    United States, Canada, Australia, the Republic of South Africa or Japan

                                                                    15 June 2007

                                Tanzania Gold Plc
                       ('Tanzania Gold' or 'the Company')

       Proposed Acquisition of Asean Copper Investments Limited ('Asean')
    Proposed offer for subscription of 6,666,667 new ordinary shares of 0.2p
 each ('Ordinary Shares') at a price of 75p per share to raise £5 million gross
                    Change of name to 'Bezant Resources plc'
       Notice of Annual General Meeting and Extraordinary General Meeting
                                        
Highlights:

• Contracts signed to acquire participation in a major porphyry copper and gold 
  exploration licence in the Philippines for consideration of approximately 
  £5.46 million.

• Licence covering 534 hectares located in the Mankayan-Lepanto mining district 
  240km north of Manila.

• More than 45,000 metres drilled in 48 holes.

• Historic resource estimate of more than 166 million tonnes with 1.9
  billion pounds of copper and 2.9 million ounces of gold.

• Extensive historic data from drilling, assay results,
  geotechnical work and geological resource calculations available.

• A two year drilling and exploration programme to begin to
  allow further definition of the resource.

• Offer for subscription to raise approximately £5 million
  gross (approximately £4.77 million net of expenses
  (excluding the Fee Shares)) through the issue of, in
  aggregate, 6,666,667 new Ordinary Shares to institutional
  and other investors at a price of 75 pence per share.

• Tanzania Gold to change its name to 'Bezant Resources plc'.

  
Tanzania Gold, the AIM listed exploration and development company, is pleased to
announce that  it has today signed contracts to acquire the entire issued share
capital of Asean, a 40 per cent. shareholder in  Crescent Mining and Development
Corporation ('Crescent'), a Filipino company (the 'Acquisition'). Asean also
holds a  conditional option, expiring in October 2009, to acquire the remaining
60 per cent. of Crescent for minimal  consideration.

Completion of the Acquisition is conditional on the approval of the Offer for
Subscription by the Company's shareholders and certain parties entering into a
shareholders agreement in respect of Crescent.

The total consideration payable in respect of the Acquisition is to be satisfied
through the issue of 5,454,545 new Ordinary Shares (the 'Acquisition Shares')
and payment of cash consideration of £500,000, valuing Asean at approximately
£5.46 million (based on the closing middle market price of 91 pence per Ordinary
Share as derived from the AIM Appendix to the Daily Official List on the
business day immediately prior to the date of this announcement).

The cash consideration is to be funded from the proceeds of a private offer for
subscription by the Company which is expected to raise approximately £5 million
gross (£4.77 million net of expenses (excluding the Fee Shares set out below))
through the issue of, in aggregate, 6,666,667 new Ordinary Shares (the
'Subscription Shares') to institutional and other investors at a price of 75
pence per share (the 'Offer for Subscription'). The balance of the net proceeds
of the Offer for Subscription will be applied, inter alia, to provide additional
working capital for the Company, fund the drilling and exploration programme in
the Philippines (including the analysis of the substantial historic data) and
potentially to fund further investment opportunities. The Offer for Subscription
is conditional upon, inter alia, approval of the Company's shareholders for an
increase in the directors' authority to allot equity securities and the
disapplication of pre-emption rights.

The Subscription Shares will represent approximately 17.94 per cent. of the
enlarged share capital of the Company on completion of the Offer for
Subscription, will be fully paid and will rank equally in all respects with the
Company's existing issued share capital. The Offer for Subscription has not been
underwritten. Subscription Shares to the value of approximately £5,000 will be
subscribed for by Clive Sinclair-Poulton, Chief Executive of the Company, at the
subscription price of 75p per share, and accordingly, on completion of the Offer
for Subscription, Mr Sinclair-Poulton will be interested, in aggregate, in
2,231,101 Ordinary Shares, representing approximately 6.00 per cent. of the
enlarged issued share capital of the Company.

Crescent holds an MPSA covering a total of 534 hectares in the Guinaoang area of
the Philippines (the 'Guinaoang  Project'). This is located in the Mankayan-
Lepanto mining district, an area of established copper and gold mining.  It  is
considered to be one of the major porphyry copper belts in the Philippines and
is similar to several deposits that  have already been developed such as the Sto
Thomas deposit near Baguio City.  The site is adjacent to the copper/gold  mine
owned and run by Lepanto Consolidated Mining Company. The Mankayan-Lepanto area
has been mined for centuries and  is accessible by both road and air.

The Guinaoang porphyry copper gold deposit (the 'Mankayan Project') was
discovered in the early 1970's and since then  has been extensively drilled with
historically four programmes being completed covering more than 45,000 metres of
drilling in 48 holes.

Historic analysis of 33,000 metres of drilling revealed a substantial resource
estimate as set out below:

Cut off    Million tonnes   Copper   Gold              Contained Copper   Metals Gold
% Copper                         %   (grammes/tonne)   pounds             Ounces
0.40       166.5            0.52     0.54              1.9 billion        2.9 million

There were also indications of silver that the Company intends to investigate 
further.

A two year drilling programme has been approved by the Filipino Government which 
the Company intends to commence after completion of the Offer for Subscription.

This programme shall include:

• Complete analysis on 12,000 metres of historical drilling and the
  provision of infill drilling, to improve the resource classification.

• Drilling of approximately 11,000 metres on 10 holes.

• Improvement ore body delineation.

• Obtaining engineering and metallurgical data.

Crescent has sole rights to the MPSA but it is possible that a third party has a
40 per cent. economic interest in the Guinaoang Project undertaken historically
on the Mankayan property, but with an obligation to fund pro rata or be diluted.
Filipino legal opinion received advises that such interest is invalid and
Crescent has historically disputed the third party's interest. The directors
understand that there has been no contact between Crescent and the third party
concerned since 2005.

In order to enable the Offer for Subscription and, as a consequence, the
Acquisition to proceed the Company  has today posted a circular to its
shareholders to convene an extraordinary general meeting ('EGM') to be held at
11.10  a.m. (or as soon thereafter as the annual general meeting to be convened
for 11.00 a.m. on the same date ('AGM') has  been concluded or adjourned) on
Monday 9 July 2007 at the offices of Joelson Wilson & Co, 30 Portland Place,
London W1B  1LZ to, inter alia, seek shareholders' approval for an increase in
the directors' authority to allot equity securities  and the disapplication of
pre-emption rights. Pursuant to Rule 20 of the AIM rules, a copy of the circular
including a  notice of the EGM and AGM will be available for inspection from
today at the offices of Joelson Wilson & Co at 30  Portland Place, London W1B
1LZ during normal business hours on any weekday (other than Saturdays, Sundays
and public  holidays).

To reflect the changes to the Company's project portfolio as a result of the
Acquisition, it is proposed  that, conditional on completion of the Acquisition,
the Company will change its name to Bezant Resources plc. Existing  share
certificates will remain valid following such change of name.

In addition to the Acquisition Shares and Subscription Shares referred to above,
the Company will, on  completion of the Acquisition, issue in aggregate 516,666
new Ordinary Shares (the 'Fee Shares') to certain of its  professional advisers
in satisfaction of fees payable for services provided in relation to the Offer
for Subscription  and previous corporate services.

At a meeting of the Board on 14 June 2007, the Board approved the
adoption of a share option plan (the 'Share Option Plan'). The
principal terms of the Share Option Plan are as follows:

(i)  the Share Option Plan is not approved by Her Majesty's Revenue
     and Customs;

(ii) options may be granted over a maximum of 10 per cent. of the
     issued share capital of the Company at the date of grant;

(iii)the options will vest and become exercisable in three equal
     tranches, on the first, second and third anniversaries of the date of grant; 
     and

(iv) the options are subject to the following principal performance
     conditions, namely: a minimum increase in share price since the date of grant of
     10 per cent. as at the first anniversary, 20 per cent. as at the second
     anniversary and 30 per cent. as at the third anniversary of grant.

Shareholders are being asked to ratify the adoption of the Share Option Plan at
the EGM.

Application will be made for the Acquisition Shares, Subscription Shares and Fee
Shares to be admitted to trading on  AIM ('Admission'). If the resolutions to be
proposed at the EGM are passed, it is expected that Admission will take  place
and that dealings in such aforementioned shares will commence on 10 July 2007.
The total number of Ordinary  Shares in issue following completion of the
Acquisition and Offer for Subscription will be 37,162,223.

Clive Sinclair-Poulton, Chief Executive of Tanzania Gold, commented: 'The Board
is very pleased to be able to announce this acquisition as we believe that the
Mankayan Project has the rare  combination of having a wealth of historic data
and what we believe is the potential to be a world class asset.  We  shall seek
to realise this potential. The Board believes that the Company's project
portfolio of Filipino and Tanzanian  assets augurs well for the future.'

Geologist Bernard Olivier has reviewed and approved the technical information
contained within this announcement in his  capacity as a competent person, as
required under the AIM Rules.  Dr Olivier is a member of the Australasian
Institute  of Mining and Metallurgy.


For further information, please contact:

Clive Sinclair-Poulton, Chief       Tanzania Gold Plc    Tel: [phone]
Executive                                                

Gary Middleton                      St Swithins PR       Tel: [phone]
                                    Limited              

The directors of Tanzania Gold accept responsibility, individually and
collectively, for the information contained in  this announcement. To the best
of the knowledge and belief of the Directors, who have taken all reasonable care
to  ensure that such is the case, the information contained in this announcement
is in accordance with the facts and does  not omit anything likely to effect the
import of such information.

This announcement does not constitute, or form part of, an offer or an
invitation to purchase any securities.

Strand Partners Limited, which is authorised and regulated in the United Kingdom
by the Financial Services Authority, is acting for Tanzania Gold and for no one
else in connection with the Acquisition, the Offer for Subscription and
Admission and will not be responsible to anyone other than Tanzania Gold for
providing the protections afforded to customers of Strand Partners Limited, or
for providing advice in relation to the Acquisition, the Offer for Subscription
and Admission.




                      This information is provided by RNS
            The company news service from the London Stock Exchange