TANZANIAN ROYALTY ANNOUNCES MANAGEMENT TRANSITION & REALIGNMENT TO BEST SERVE GOLD MINING PRODUCTION GOALS

March 20th, 2017

TORONTO, ONTARIO–(Marketwired March 20, 2017) – Tanzanian Royalty Exploration Corporation (TSX:TNX)(NYSE MKT:TRX) (the “Company”) is pleased to announce the appointment of Jeffrey R. Duval as Acting Chief Executive Officer. Prior to this appointment, Mr. Duval held the position of Vice President of Project Logistics in the Company since 2015.  He is a licensed General Engineering Contractor with a previous quarter century history in corporate executive management, project development and project management for some large US construction firms.

Mr. Duval’s management skills, efforts and involvement were instrumental in the Company obtaining the Special Mining License (SML) for the Buckreef Project from the Ministry of Energy and Minerals in Tanzania with a renewal term of ten (10) years. His strengths in international diplomacy and negotiations between the Company and STAMICO have achieved a good working relationship with the government of Tanzania. Among Mr. Duval’s numerous achievements and contributions to the Company – he led the team overseeing the design, planning and development of the new Gravity/Carbon-In-Leach process plant presently planned at the Buckreef Project. “The new plant will establish a solid foundation for our initial production goals, and it’s designed to allow us to add additional processing capacity as we grow our production in the future.” Acting Chief Executive Officer Duval said. The Company’s updated independent NI 43-101 compliant feasibility study is near to release due to his diligence and oversight in expediting the Company’s compliances.

 

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