TSG.L Regulatory News (TSG)

26 February 2021

Trans-Siberian Gold plc

("TSG", the "Company" or the "Group")

Share Buyback Programme

Trans-Siberian Gold plc (TSG.LN), a low cost, high grade gold producer in Russia, is pleased to announce the initiation of a share buyback programme to purchase the Company's Ordinary Shares (the "Buyback") for an aggregate amount of £1 million (the "Buyback Amount").

The TSG Board believes that at the current price the Company's shares offer significant value given the discount to industry valuation metrics. The Company has, therefore, taken the decision to implement the Buyback, in order to return value to shareholders. The Buyback is being undertaken in a way that does not jeopardise the Company's ability to finance its operations, exploit growth opportunities or make dividend payments, all which remain core priorities.

Alexander Dorogov, Chief Executive Officer of the Company, commented:

"Today's announcement reflects our continued confidence in the underlying value and prospects of the Company. These on-market share purchases will complement the significant capital returns we have already made to shareholders. The current share price offers, in our view, an attractive yield in a market where real interest rates are negative and real return of capital is hard to find. We are an established gold producer with 5 years of consecutive production increases. We remain firmly committed to growing our business and creating further shareholder value."

Process

To facilitate the Buyback, TSG has entered into agreements with its joint corporate brokers, Canaccord Genuity Limited and Panmure Gordon (UK) Limited (the "Co-Brokers"), under which it has issued irrevocable and non-discretionary instructions to the Co-Brokers to carry out purchases of the Buyback Amount on its behalf within certain pre-set parameters. The Co-Brokers will make their trading decisions under the Buyback independently of, and uninfluenced by, the Company.

The Buyback is effective from today, 26 February 2021. The programme will be undertaken until the Buyback Amount has been reached or the Company's Annual General Meeting in 2021, whichever is the earlier. Any shares repurchased will be held in treasury.

Purchases pursuant to the Buyback will be carried out in accordance with the Company's existing general authority to repurchase ordinary shares (at the AGM in 2020, shareholders gave the Company authority to purchase a maximum of 8,715,850 ordinary shares) and the provisions of the Market Abuse Regulation 596/2014/EU.

At the date of this announcement, the Company has 87,158,508 ordinary shares in issue and holds 22,894,565 ordinary shares in treasury.

There is no guarantee that the Buyback will be implemented in full or that any shares will be repurchased by the Company.

Details of any purchases made under the Buyback will be provided via RNS announcements and published on the Company's website.

ENDS

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.

Additional information is available from the Company's website: www.trans-siberiangold.com

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.