TANZANIAN ROYALTY RESOURCES UPDATE ON BUCKREEF DEVELOPMENT PROJECT

March 30th, 2017

TORONTO, ONTARIO–(Marketwired March 30, 2017) – Tanzanian Royalty Exploration Corporation (TSX:TNX)(NYSE MKT:TRX) (the “Company”) announces that Mr. Jeffrey Duval, acting CEO, is pleased to report that the preparatory work for future mining has commenced. ┬áManagement decided to proceed with the clearing process in preparation for pre stripping and grade control drilling to follow. Pre-stripping operations exposes the area of the property where already identified mineralization exist. This process is used to map out the grade location and maintain strict control throughout, and provides for accurate grade selection.

Presently there are 7128 ounces of gold in storage for processing upon completion of the CIL module. Though the gravity circuit is already installed the planned CIL/Gravity system will provide higher recoveries.

Mr. Duval is starting this process now because even though our ore storage facility is full, as material is processed it will be open space for more material to be processed.

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