Exhibit 99.1 Tanzanian Gold Corporation Unaudited Interim Condensed Consolidated Financial Statements For the three and six months ended February 28, 2022 and 2021 Tanzanian Gold Corporation Unaudited Interim Condensed Consolidated Statements of Financial Position (Expressed in Thousands of US Dollars) | | | February 28, | | August 31, | | --- | --- | --- | --- | --- | | | | 2022 | | 2021 | | Assets | | | | | | Current Assets | | | | | | Cash | $ | 12,939 | $ | 13,447 | | Amounts receivable (Note 5) | | 540 ...

Exhibit 99.1 Tanzanian Gold Corporation Unaudited Interim Condensed Consolidated Financial Statements For the three months ended November 30, 2021 and 2020 Tanzanian Gold Corporation Unaudited Interim Condensed Consolidated Statements of Financial Position (Expressed in Thousands of US Dollars) | | | November 30, | | August 31, | | --- | --- | --- | --- | --- | | As at | | 2021 | | 2021 | | Assets | | | | | | Current Assets | | | | | | Cash (Note 5) | $ | 7,929 | $ | 13,447 | | Amounts receivable (Note 6) | ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 _________________________ FORM 20-F _________________________ ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12 (g) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-32500 TANZANIAN GOLD CORPORATION (Exact Name of Registrant as Specified in Its Charter) Alberta, Canada (Jurisdiction of Incorporation or Organization) 150 King Street West, Suite 200 Toronto, Ontario Canada M5H 1J9 (Address of Principal Executive Of ic ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 20-F _________________________ Commission File Number 001-32500 TANZANIAN GOLD CORPORATION (Exact Name of Registrant as Specified in Its Charter) ALBERTA, CANADA (Jurisdiction of Incorporation or Organization) #202, 5626 Larch Street, Vancouver, British Columbia Canada V6M 4E1 (Address of Principal Executive Of ices) James Sinclair Executive Chair Tanzanian Gold Corporation #202, 5626 Larch Street, Vancouver, British Columbia Canada ...

Financial Performance - For the fiscal year ended August 31, 2019, the company reported a net loss of $29,317,517, compared to a net loss of $6,897,397 in 2018, indicating a significant increase in losses [31]. - The company's accumulated deficit as of August 31, 2019, reached $132,462,683, reflecting ongoing financial challenges since inception [38]. - Total assets decreased to $38,118,925 in 2019 from $53,235,140 in 2018, showing a decline in the company's financial position [32]. - The company had a working capital deficiency of approximately $9,095,970 as of August 31, 2019, highlighting liquidity issues [39]. - The company has never generated revenues and does not expect to do so until one of its properties is placed into production [38]. - As of August 31, 2019, the company had cash of approximately $3,389,319, which raises concerns about its ability to fund ongoing operations [39]. - The company has issued $6,927,371 in loans, including $4,998,127 in gold bullion loans, which may dilute existing shareholders if converted into common shares [49]. - The company reported a net loss of $29,317,517 for the year ended August 31, 2019, which included $22,229,752 in mineral properties and deferred exploration expenses written off [103]. Operational Challenges - The company has faced litigation risks that could adversely affect its financial condition and share price [43]. - Internal controls over financial reporting were deemed ineffective, which could lead to material misstatements and loss of investor confidence [47]. - The Company has recorded an accrual of $707,000 for unpaid license fees as of August 31, 2019, compared to $260,000 as of August 31, 2018 [74]. - The Company is subject to a potential penalty of approximately $219,000 related to unpaid license fees as of August 31, 2019, up from $125,000 in the previous year [75]. - The Company has made a payment of $172,330 in connection with settlement discussions regarding penalties for not bringing the Buckreef Project into production by the specified date [77]. - The Company has not established proven mineral reserves for most of its properties, with the exception of the Buckreef Project, which is still in the exploration stage [54]. - The Company may face additional payments to the Tanzanian government if the Buckreef Project is not brought into production by a certain date, with potential extension payments of $500,000, $625,000, and $750,000 for subsequent years [76]. - The Company has faced disruptions from illegal mining activities at the Buckreef Project, which have previously forced a halt to operations [71]. - The Company relies on key management personnel, including the Executive Chairman, whose absence could significantly impact operations [56]. Exploration and Development Activities - The Company focused on the Buckreef Project during fiscal 2019, completing multiple phases of drilling and reporting significant intercepts [105]. - The Company has completed several drilling programs at the Buckreef Project, but significant expenditures will be required to upgrade mineral resources and develop mining facilities [65]. - The Buckreef Project is held under a special mining license expiring June 11, 2027, with no guarantee of renewal processing times [83]. - The Company is conducting a three-phase drill program to enhance the economics of the Buckreef Project, with Phase One involving approximately 4,500m of infill drilling [130]. - The infill drilling program aims to upgrade mineable ounces, moving inferred resources to measured and indicated categories, with a focus on confirming strong intersections and grades from deep holes [132]. - Significant intercepts from the infill RC drill program include 28m grading 4.23 g/t Au from Hole PBR05, with notable intersections of 16m grading 6.72 g/t Au [135]. - The ongoing Phase II drilling program targets gold mineralization 50 to 200m below the pit bottom, with previous holes encountering significant mineralized widths [142]. - The geophysical survey completed in September 2019 will assist in developing a new resource-geology model, analyzing resistivity and chargeability of host rocks [146]. - The Buckreef Project has a total of 28 active licenses and 104 forfeited licenses, with outstanding financial liabilities of approximately US$511,548 as of September 30, 2019 [153][155]. - The Buckreef Project encompasses five prospects and is fully licensed for mining and extraction of gold, located in the Geita District of Tanzania [156]. - The company has assembled a database of over 892 holes totaling 137,509.95m, which includes geological information and gold assays for resource modeling [150]. - The initial phase of the geophysical survey covered 10 holes with a total survey length of about 3,620m, with plans for additional holes in Phase Two [145]. - Significant intercepts from Hole U22-1 include 89.6m grading 1.5 g/t Au, with notable high-grade intersections found below the open pit [141]. - The company has revised its license portfolio to focus on the Buckreef Project, discarding certain licenses to reduce liabilities from statutory payments [152]. - The Buckreef Project mineral resources as of August 31, 2019, are estimated at 29 million tons at 1.04 g/t Au, containing approximately 984,144 ounces of gold [165]. - The company completed a total of 1,503 meters of Reverse Circulation (RC) drilling during the reporting period, focusing on resource upgrade drilling [157]. - An additional eight Diamond Core (DD) drill-holes were completed during the reporting period, totaling 2,716.12 meters [160]. - Significant assay results include 66.7 meters at 4.51 g/t Au from 357.30 meters depth, including 31 meters at 7.10 g/t Au from 385 meters [162]. Regulatory and Compliance Issues - The Company is required to comply with local content regulations that mandate the use of Tanzanian companies for procurement and services [84]. - The company has maintained compliance with annual fee payments for all active licenses during the reporting period [185]. - The company must submit regular reports in accordance with mining regulations, which adds to its operational requirements [204]. - The anticipated liabilities from forfeited licenses are being tabulated by the Ministry, indicating potential future financial obligations [186]. - The company is adhering to new Mining Regulations, which require relinquishing half of the active license area upon renewal, with a grace period for new applications [188]. Project-Specific Information - The Buckreef Project is located in north central Tanzania, comprising five gold deposits within two mining areas, approximately 25km apart [219]. - The Company has completed pre-feasibility studies on the Buckreef Project, focusing on gold exploration and development [208]. - Historical production at the Buckreef area included an indicated ore reserve of 106,000 tons at a grade of 8.7g/t Au [214]. - The Company has conducted extensive drilling and exploration, resulting in a 121% increase in mineral resources as per the NI 43-101 report [215]. - The Buckreef Project is situated in the Lake Victoria Goldfields, the third largest gold-producing region in Africa [222]. - The Company has applied for a 10-year renewal of the Buckreef Special Mining License, which was granted [216]. - The Buckreef Project has undergone various phases of exploration and development since its discovery, with significant activities recorded from 1959 to 2019 [214][215]. - The geological setting of the Buckreef Project includes low to medium grade orogenic gold deposits associated with quartz vein arrays in altered shear zones [220].