Tanzanian Royalty Announces Awarding of Contract for RC Drilling Program at Buckreef Gold Project in Tanzania

March 3rd, 2012 by Jim Sinclair

Tanzanian Royalty is pleased to announce that Aqua Drill Tech (U) Ltd. has been awarded a contract to complete 7,200 metres of Reverse Circulation (RC) drilling at the Company’s Buckreef Gold Project in the Lake Victoria Goldfields of Tanzania.

Aqua Drill will utilize a SuperRock 1000 with a high pressure Sullair 900 cfm/350 psi trailer-mounted compressor for the drill program which is expected to begin in early March. The objective of the RC drilling program is to define, delineate and upgrade resources at Buckreef in support of an updated 43-101 compliant resource report.

“We are pulling out all the stops to build on our recent successes at Buckreef,” said Joseph K. Kahama, Chairman and Chief Operating Officer (Tanzania), who also noted that “The Company’s ability to expand resources along strike and at depth can only enhance the long term viability of Buckreef and the benefits accruing to all stakeholders including the people of Tanzania with whom we have entered into an historic partnership.”

The main focus of this RC drilling program is to confirm the significant gold mineralization encountered in four recent diamond drill holes in the Eastern Porphyry prospect. (See January 10, 2012 News Release). These diamond drill holes were completed in December 2011 and were designed to establish and understand the structure controlling mineralization at Eastern porphyry target. The diamond drilling program was also designed to investigate the down-dip extension of previously confirmed high grade mineralization to a vertical depth of 200m which is expected to be the final depth of the open pit at commercial production and the lateral extension of footwall and hanging wall zones of the Buckreef deposit.

The second phase of the RC drill program will include infill drilling and step-out drilling to test the strike extension of the Buckreef North and the NE extension of the Tembo mineralization.

In addition to infilling gaps and upgrading some of the Inferred resource to the Indicated category, the diamond drilling is seeking to define additional resources in the Hanging Wall and Footwall zones. This phase of diamond drilling is budgeted at 6,821 metres.

Buckreef is an advanced stage gold project with National Instrument 43-101 compliant gold resources at a 0.5 g/t cutoff grade in the following categories: Measured, 5.176 million tonnes grading 2.05 g/t (341,000 oz); Indicated, 24.97 million tonnes averaging 1.19 g/t (954,000 oz); Inferred, 17.173 million tonnes grading 1.51 g/t (835,000 oz).

Qualified Person

The Company’s Qualified Persons, Mr. Phillip Kaniki and Charles Mnguto, have reviewed and approved the content of this news release. Mr. Phillip Kaniki has a Bachelor of Science in Geology degree from the University of Dar es Salaam (1997) and is a registered scientist with MAusIMM (Reg. No 221963). Mr. Charles Mnguto has a Bachelor of Science in Geology (Hons) degree from the University of Dar es Salaam (1995) and is registered scientist with MAusIMM (Reg. No 307793).

 

Respectfully submitted,

 

Joseph K. Kahama

Chairman and Chief Operating Officer (Tanzania)

 

 

 For further information, please contact Investor Relations at 1-800-811-3855

Visit our website: www.TanzanianRoyalty.com

The Toronto Stock Exchange and NYSE Amex Equities have not reviewed and do not accept responsibility for the adequacy or accuracy of this release.

Cautionary Note to U.S. Investors – The United States Securities and Exchange Commission limits disclosure for U.S. reporting purposes to mineral deposits that a company can economically and legally extract or produce. We use certain terms on this news release, such as “reserves”, “resources”, “geologic resources”, “proven”, “probable”, “measured”, “indicated”, or “inferred” which may not be consistent with the reserve definitions established by the SEC.  U.S. Investors are urged to consider closely the disclosure in our SEC filings.  You can review and obtain copies of these filings from the SEC’s website at http://www.sec.gov/edgar.shtml

This news release contains certain forward-looking statements and forward-looking information. All statements, other than statements of historical fact, included herein are forward-looking statements and forward-looking information that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time-to-time with theBritish Columbia,AlbertaandOntarioprovincial securities regulatory authorities.

Certain information presented in this release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Actof 1995. Such forward-looking statements are based on numerous assumptions, and involve known and unknown risks, uncertainties and other factors, including risks inherent in mineral exploration and development, which may cause the actual results, performance, or achievements of the Company to be materially different from any projected future results, performance, or achievements expressed or implied by such forward-looking statements. Investors are referred to our description of the risk factors affecting the Company, as contained in our SEC filings, including our annual report on Form 20-F and Registration Statement on Form F-10, as amended, for more information concerning these risks, uncertainties, and other factors.

A Message From our President

February 20th, 2012 by Jim Sinclair

Dear Friends,

Thank you for visiting our website. I’m confident you’ll find it interesting and informative. Tanzanian Royalty is an exploration and development company whose advanced-stage Buckreef Project has NI-43-101 compliant gold resources of 2.1 million ounces. (Please see Buckreef 43-101 report here). Our partners include the State Mining Company of Tanzania and China’s largest nickel producer, Jinchuan Mining. Please take time to review our mineral projects -and if you like what you see, we would welcome you on board.
Respectfully,
James E. Sinclair

Tanzanian Royalty Exhibits at Orlando Money Show

February 20th, 2012 by David Duval

Tanzanian Royalty hosted an exhibit at the World Money Show in Orlando, Florida which was held at the Gaylord Palms Resort and ran from February 10-12, 2012.

Shareholders and other interested parties got to meet the Company’s President and CEO, Jim Sinclair, and hear his presentation on a panel of experts regarding the gold market and the Company’s prospects during the next phase in gold’s historic bull market. The Company’s exhibit drew rave reviews from attendees – many of whom had visited Tanzania’s world famous Serengeti National Park.

The Company has been conducting presentations to fund managers and other interested parties for several months. These presentations have taken place primarily in New York City and San Francisco and are set to expand geographically in the coming months.

With Preliminary Economic Assessments (PEAs) under way for the Company’s Buckreef and Kigosi Projects – and a major drill program in progress in the East Porphyry Area at Buckreef – interest in the Company’s activities are growing in leaps and bounds. With the gold price in an apparent uptrend, we expect that interest level to climb even further.

Tanzanian Royalty Exhibit at World Money Show in Orlando, Fl

 

President & CEO Jim Sinclair in conversation with shareholder

Tanzanian Royalty Announces High Grade Assay Results From Drilling Program at Buckreef Project in Lake Victoria Goldfields of Tanzania

February 6th, 2012 by David Duval

Tanzanian Royalty Exploration Corporation is pleased to report additional high grade assay results from the ongoing reverse circulation and diamond drilling program at its Buckreef Gold Project in the Lake Victoria Goldfields of Tanzania.

 Diamond drill hole BMDD108 returned 16m grading 2.23 g/t gold from 149m, including a high grade section of  2.0m averaging 7.03 g/t  from 163m. In addition, the hole contained 5.0m grading 1.04 g/t from 170m, including 1.0m @ 3.86 g/t from 170m in sheared and altered felsic porphyry.

Diamond drill hole BMDD109 included 35.35m grading 2.75g/t gold from 131.65m,  including 6.35m @ 5.75 g/t from 131.65m, 4.7m @ 4.33 g/t from 158.3m;  1.0m @ 3.91 g/t  from 104m; and  2.0 m @  0.55 g/t from 212m.

Hole BMDD110 was drilled in the Hanging Wall Zone of the Main Buckreef deposit and included 4.0m grading 1.08 g/t from 16m, including 1.0m @ 3.16g/t from 17m in sheared dolerite with sulphides. In addition, the hole reported 2.0m @ 1.09 g/t from 107m. 

Hole BMDD110 also targeted the down dip potential in the Main Zone, returning 30m grading 2.66 g/t gold at 145m, including 2.0m @ 6.5g/t from 169m, including 5.0m @ 4.06g/t from 153m. The deepest segment of this hole returned 2.0m @ 1.77g/t from 197m in sheared, altered dolerite intercalated with felsic porphyry and milky white late quartz veins.

Several deep holes were drilled in the vertical to sub-vertical Buckreef Main ore shoot by previous operators, some of which extended up to 400m down-dip in depth. Most of these holes serve to define existing resources in the Inferred resource category. The currently planned down dip test holes are intended to upgrade some of the Inferred resource at Buckreef to the Indicated category.

Approximately 10 more holes remain to be drilled at Buckreef Main to test the zone’s down dip potential which ranges in depth from 200m to 400m. The zone appears to increase in thickness at depth, with high grade gold values reported in several intercepts. Holes BMDD109 and BMDD 110 are specifically intended to test this depth potential. The holes above are estimated to be approximately 60% of true width.

The drilling on the Buckreef Footwall and Hanging Wall zones is expected to increase pit wall limits and increase resources all of which will be inputted into the Definitive Feasibility Study.

The main mineralized shear zone at Buckreef includes the Buckreef Main Zone, Buckreef North Zone and Buckreef South Zone all of which are constrained between two cross-cutting faults. The Buckreef Footwall and Hanging Wall zones are developed on either side of the Buckreef Main Zone as shear zone fault splays. The near-surface intercepts on the Hanging Wall and Footwall Zones are developed in the oxide zone and within quartz-carbonate-pyrite altered zones that offer the best opportunity to improve the size of the proposed open pit.

“The latest results from the ongoing drill program suggest that the FW and HW zones could significantly increase the existing Buckreef resource and the potential for further success,” says Joseph K. Kahama, Chairman and Chief Operating Officer (Tanzania).  “The deep mining potential will be established from the down dip drilling on the Main Zone which is also aimed at upgrading the current Inferred resource at Buckreef.”

“We are greatly encouraged by the high grade values we are seeing in the holes which in most cases  are better than anything drilled by previous operators,” he adds.

The geology within these HW and FW mineralised zones is mainly sheared basalt, sheared dolerites or sheared felsic porphyry accompanied with moderate to strong quartz-carbonate-pyrite alterations. In general, the degree of alteration dictates the grade of the mineralization.

Analysis 

Samples from RC and diamond drill-holes were submitted to SGS Lab in Mwanza for 50g fire assay (FA) with AAS finish (0.01ppm LLD). Duplicates and Standards were inserted in the sample stream approximately every 20 samples. The average percentage of recovery core is 95%.  The planning, execution and monitoring of quality control programs at the Buckreef Gold project are under the supervision of Messrs. Charles Mnguto and Phillip Kaniki who are both registered Professional Geologists. Charles is the Head of Geology while Phillip is the Geology Resource Manager for the Company.

Qualified Person

The Company’s Qualified Person, Mr. Peter Zizhou, has reviewed and approved the contents of this news release. Mr. Zizhou is the General Manager (Exploration & Admin) of Tanzanian Royalty Exploration Corporation.  He has a Master of Science (Exploration Geology) degree from theUniversityofZimbabwe(2000) and is a registered scientist with SACNASP (Reg. No.400028/08).

Respectfully Submitted,

James E. Sinclair

President and CEO

 For further information, please contact Investor Relations at 1-800-811-3855

Visit our website: www.TanzanianRoyalty.com

The Toronto Stock Exchange and NYSE Amex Equities have not reviewed and do not accept responsibility for the adequacy or accuracy of this release.

Cautionary Note to U.S. Investors – The United States Securities and Exchange Commission limits disclosure for U.S. reporting purposes to mineral deposits that a company can economically and legally extract or produce. We use certain terms on this news release, such as “reserves”, “resources”, “geologic resources”, “proven”, “probable”, “measured”, “indicated”, or “inferred” which may not be consistent with the reserve definitions established by the SEC.  U.S. Investors are urged to consider closely the disclosure in our SEC filings.  You can review and obtain copies of these filings from the SEC’s website at http://www.sec.gov/edgar.shtml

This news release contains certain forward-looking statements and forward-looking information. All statements, other than statements of historical fact, included herein are forward-looking statements and forward-looking information that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time-to-time with theBritish Columbia,AlbertaandOntarioprovincial securities regulatory authorities.

Certain information presented in this release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on numerous assumptions, and involve known and unknown risks, uncertainties and other factors, including risks inherent in mineral exploration and development, which may cause the actual results, performance, or achievements of the Company to be materially different from any projected future results, performance, or achievements expressed or implied by such forward-looking statements. Investors are referred to our description of the risk factors affecting the Company, as contained in our SEC filings, including our annual report on Form 20-F and Registration Statement on Form F-10, as amended, for more information concerning these risks, uncertainties, and other factors.

Tanzanian Royalty Awards Contract for Preliminary Economic Assessment of Surface Rubble Deposit at Kigosi Gold Project

February 3rd, 2012 by David Duval

Tanzanian Royalty Exploration Corporation is pleased to announce that it has entered into a contractual agreement with Consulmet Metals (Pty) Limited of South Africa to complete a Preliminary Economic Assessment (PEA) for a gravity recovery plant on its Kigosi Gold Project in the Lake Victoria Goldfields of Tanzania.

A favorable conclusion to the PEA would see the commencement of a Definitive Feasibility Study that would support the Company’s mining license submission and provide a basis for plant design and related work which would be completed on a “turnkey” basis.

The Consulmet group of companies have supplied in excess of 100 plants within the minerals, metals and chemical processing industries, some to large international mining companies.  At the very minimum the Phase 1 plant will consist of the following process circuits: Crushing, Milling, Gravity separation, Calcining, Smelting, Tailings disposal, Reagent make-up, mixing, distribution and dosing; and Utilities including water, air and electricity.

The PEA will focus on a surface rubble deposit that was discovered on Kigosi during the original inclined-hole RC exploration drilling program on the Luhwaika prospect which was conducted on a 30m x 100m grid system.

This rubble deposit is of particular economic interest due to its near surface, tabular extent and unconsolidated nature which lends itself to low cost mining and gold recovery methods. Higher grade areas within the quartz rubble are directly attributable to the erosion of the Luhwaika reefs whose economic potential will also be evaluated in the immediate future.

According to James E. Sinclair, President and CEO, “The existence of this economically significant rubble deposit opens up the possibility of achieving low cost commercial production from Kigosi within the next year. Cash flow from any such operation could be used to facilitate development of our Buckreef Project and perhaps even create an opportunity to generate a meaningful financial return to our shareholders to whom we are greatly indebted.”

Qualified Person

The Company’s Qualified Person, Mr. Peter Zizhou, has reviewed and approved the contents of this news release. Mr. Zizhou is the General Manager (Exploration & Admin) of Tanzanian Royalty Exploration Corporation.  He has a Master of Science (Exploration Geology) degree from theUniversityofZimbabwe(2000) and is a registered scientist with SACNASP (Reg. No.400028/08).

Respectfully Submitted,

James E. Sinclair

President and CEO

For further information, please contact Investor Relations at 1-800-811-3855

Visit our website: www.TanzanianRoyalty.com 

The Toronto Stock Exchange and NYSE Amex Equities have not reviewed and do not accept responsibility for the adequacy or accuracy of this release

 

Cautionary Note to U.S. Investors – The United States Securities and Exchange Commission limits disclosure for U.S. reporting purposes to mineral deposits that a company can economically and legally extract or produce. We use certain terms on this news release, such as “reserves”, “resources”, “geologic resources”, “proven”, “probable”, “measured”, “indicated”, or “inferred” which may not be consistent with the reserve definitions established by the SEC.  U.S. Investors are urged to consider closely the disclosure in our SEC filings.  You can review and obtain copies of these filings from the SEC’s website at http://www.sec.gov/edgar.shtml

This news release contains certain forward-looking statements and forward-looking information. All statements, other than statements of historical fact, included herein are forward-looking statements and forward-looking information that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time-to-time with theBritish Columbia,AlbertaandOntarioprovincial securities regulatory authorities.

Certain information presented in this release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on numerous assumptions, and involve known and unknown risks, uncertainties and other factors, including risks inherent in mineral exploration and development, which may cause the actual results, performance, or achievements of the Company to be materially different from any projected future results, performance, or achievements expressed or implied by such forward-looking statements. Investors are referred to our description of the risk factors affecting the Company, as contained in our SEC filings, including our annual report on Form 20-F and Registration Statement on Form F-10, as amended, for more information concerning these risks, uncertainties, and other factors.

Tanzanian Royalty Receives NI-43-101 Compliant Resource Reports for Itetemia and Luhala Gold Projects in Tanzania

January 31st, 2012 by David Duval

The Company is pleased to announce the receipt of a joint NI-43-101 compliant Technical Report for its Itetemia and Luhala gold projects in the Lake Victoria Goldfields of Tanzania. The full report will be filed on www.sedar.com.

Itetemia is an advanced-stage exploration project that was previously the subject of an option royalty agreement with a UK-based mining exploration company. (See News Release December 21, 2011). The Itetemia Project adjoins African Barrick’s Bulyanhulu gold mine, one of the largest gold producers in Tanzania.

The NI-43-101 report for Itetemia includes a Resource Summary for the Golden Horseshoe Reef (GHR) which was the subject of a preliminary economic study in August 2009 that examined and confirmed the technical feasibility of open pit mining employing various processing plant options.

Based on a 1.0 g/t cutoff grade, Itetemia has an Indicated Resource of 2,799,000 tonnes grading 2.96 g/t, representing 266,000 troy ounces and an Inferred Resource of 1,433,000 tonnes averaging 3.39 g/t, representing 156,000 ounces. Under the existing ownership structure, 90% of these resources will accrue to Tanzanian Royalty.

One of the Company’s priorities will be to update earlier studies for Itetemia in the context of higher gold prices. In addition the Company intends to prepare a revised geological model and pit design that  will incorporate a lower cut-off grade along with a revised cost and capital estimate for commercial exploitation of the GHR resource.

“The prospects for Itetemia are virtually limitless given its proximity to an existing large scale mining operation and the infrastructure associated with it,” states the Company’s Chairman and COO, Joseph K. Kahama.  “We intend to move aggressively to optimize this important asset for our shareholders and the people of Tanzania,” he adds.

The Luhala Project is an advanced stage exploration project where the exploration focus has been on the development of gold deposits on five anomalous hilltops. The mineralization at Luhala is stratabound and shear-zone hosted, with the Kisunge Hill, Shilalo West and Shilalo South Hills representing the areas of primary economic interest.

Luhala hosts a 43-101 compliant Inferred Resource at a 1.0 g/t cutoff grade of 1,860,000 tonnes grading 1.87 g/t, representing 112,000 troy ounces. Under the current ownership structure for Luhala, 100% of these resources will accrue to Tanzanian Royalty.

A follow-up program of additional diamond drilling has been recommended for the Shilalo South and Shilalo West zones where the resource appears open at depth and along strike.

Qualified Person

The Company’s Qualified Person, Mr. Peter Zizhou, has reviewed and approved the contents of this news release. Mr. Zizhou is the General Manager (Exploration & Admin) of Tanzanian Royalty Exploration Corporation Limited. He has a Master of Science (Exploration Geology) degree from the University of Zimbabwe (2000) and is a registered scientist with SACNASP (Reg. No.400028/08).

Respectfully Submitted,

Joseph K. Kahama

Chairman and Chief Operating Officer (Tanzania)

 

For further information, please contact Investor Relations at 1-800-811-3855

Visit our website: www.TanzanianRoyalty.com

 

The Toronto Stock Exchange and NYSE Amex Equities have not reviewed and do not accept responsibility

for the adequacy or accuracy of this release

 

Cautionary Note to U.S. Investors – The United States Securities and Exchange Commission limits disclosure for U.S. reporting purposes to mineral deposits that a company can economically and legally extract or produce. We use certain terms on this news release, such as “reserves”, “resources”, “geologic resources”, “proven”, “probable”, “measured”, “indicated”, or “inferred” which may not be consistent with the reserve definitions established by the SEC.  U.S. Investors are urged to consider closely the disclosure in our SEC filings.  You can review and obtain copies of these filings from the SEC’s website at http://www.sec.gov/edgar.shtml

This news release contains certain forward-looking statements and forward-looking information. All statements, other than statements of historical fact, included herein are forward-looking statements and forward-looking information that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time-to-time with the British Columbia, Alberta and Ontario provincial securities regulatory authorities.

Certain information presented in this release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on numerous assumptions, and involve known and unknown risks, uncertainties and other factors, including risks inherent in mineral exploration and development, which may cause the actual results, performance, or achievements of the Company to be materially different from any projected future results, performance, or achievements expressed or implied by such forward-looking statements. Investors are referred to our description of the risk factors affecting the Company, as contained in our SEC filings, including our annual report on Form 20-F and Registration Statement on Form F-10, as amended, for more information concerning these risks, uncertainties, and other factors.

Annual General Meeting to be Held in Toronto

January 28th, 2012 by David Duval

Tanzanian Royalty Exploration Corporation

Annual General and Special Meeting

March 1, 2012

10:00 am Eastern Time

St. Andrew’s Club and Conference Centre

150 King Street West, 27th Floor

Toronto, Ontario  M5H 1J9

Tanzanian Royalty Chairman, Joseph K. Kahama, Chosen to Lead Prestigious Industry Association

January 27th, 2012 by David Duval

The Company is pleased to announce that its Chairman and COO (Tanzania), Joseph K. Kahama, has been elected to Chair the Tanzania Chamber of Minerals & Energy whose mandate is to represent the interests of private participants in the Tanzanian minerals sector.

With close to 60 members, the Chamber includes a broad spectrum of players in the Tanzanian mining industry including some of the largest international mining companies in the world. As the official voice for the industry, the Chamber plays a pivotal role within the sector as a mediator between the mining investment community and key stakeholders, most notably the Government of Tanzania and the public. All mining majors operating in Tanzania are members of the Chamber and international oil companies developing the nation’s offshore gas and oil resources are expected to expand the organization in the coming years.

According to James E. Sinclair, President and CEO of Tanzanian Royalty, “The appointment reflects the high regard in which Joseph is held in his native Tanzania and continues a family legacy of public service that began with his father, Sir George Kahama, who served his government in various capacities including Ambassador to China.”

“We are justifiably proud to have a senior executive with our Company hold such a position and recognize that Joseph’s ability to engage with government, industry and other stakeholders will be beneficial to everyone concerned. Joseph has been a driving force behind our corporate philosophy of constructive engagement with the government and the people of Tanzania. And there is no better example of this than our partnership with the State Mining Corporation of Tanzania (Stamico) to explore and develop the 2.1 million ounce Buckreef Gold Project which is scheduled for commercial production in 2014.”

Respectfully Submitted,

James E. Sinclair

President and Chief Executive Officer

For further information, please contact Investor Relations at 1-800-811-3855

Visit our website: www.TanzanianRoyalty.com

 

The Toronto Stock Exchange and NYSE Amex Equities have not reviewed and do not accept responsibility

for the adequacy or accuracy of this release

 

Cautionary Note to U.S. Investors – The United States Securities and Exchange Commission limits disclosure for U.S. reporting purposes to mineral deposits that a company can economically and legally extract or produce. We use certain terms on this news release, such as “reserves”, “resources”, “geologic resources”, “proven”, “probable”, “measured”, “indicated”, or “inferred” which may not be consistent with the reserve definitions established by the SEC.  U.S. Investors are urged to consider closely the disclosure in our SEC filings.  You can review and obtain copies of these filings from the SEC’s website at http://www.sec.gov/edgar.shtml

This news release contains certain forward-looking statements and forward-looking information. All statements, other than statements of historical fact, included herein are forward-looking statements and forward-looking information that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time-to-time with the British Columbia, Alberta and Ontario provincial securities regulatory authorities.

Certain information presented in this release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on numerous assumptions, and involve known and unknown risks, uncertainties and other factors, including risks inherent in mineral exploration and development, which may cause the actual results, performance, or achievements of the Company to be materially different from any projected future results, performance, or achievements expressed or implied by such forward-looking statements. Investors are referred to our description of the risk factors affecting the Company, as contained in our SEC filings, including our annual report on Form 20-F and Registration Statement on Form F-10, as amended, for more information concerning these risks, uncertainties, and other factors.

Tanzanian Royalty Reports More Positive Results From Phase 2 Drilling Program in Footwall Zone on Eastern Porphyry Prospect at Buckreef Project

January 23rd, 2012 by David Duval

Tanzanian Royalty Exploration Corporation is pleased to announce the receipt of further positive assay results from the ongoing Reverse Circulation (RC) drilling program in the Footwall Zone at the Company’s Buckreef Project in the Lake Victoria Goldfields of Tanzania.

The latest results include values that are among the best reported to date by any operator at Buckreef, notes Joseph K. Kahama, Chairman and Chief Operating Officer (Tanzania). Drill-hole BMRC512 returned 3.0m averaging 1.29 g/t gold from 38m; BMRC523 included 6.0m averaging 2.67g/t from 13m; BMRC536 returned 5.0m averaging 2.62g/t from 60m; BMRC537 returned 6.0m averaging 4.87g/t from 76m while BMRC538 returned 6.0m averaging 1.63g/t from 37m. True widths are estimated to be 60% of the apparent widths. The RC drilling program has so far seen the completion of 29 RC holes aggregating 1,183metres.

The Main mineralized shear zone at Buckreef includes the Buckreef Main Zone, Buckreef North Zone and Buckreef South Zone which are constrained between two cross-cutting faults. Buckreef Footwall and Hanging wall zones are developed on either side of the Buckreef Main Zone as fault splays from the main Buckreef fault shear zone. These splays were probably developed during the reactivation of the main Buckreef northeast shear. The near surface intercepts on the Hanging wall and Footwall zones are developed in the oxide zone and within quartz-carbonate-pyrite altered zones of basaltic and dolerite rock units. These particular units offer the best opportunity to increase the size of the proposed open pit at Buckreef.

The Footwall Zone is located 50-100m in the immediate vicinity of the Buckreef Main zone while the Hanging wall Zone is located approximately 75m in the Hanging wall of the Buckreef Main zone. As part of the ongoing resource definition drilling program at Buckreef, the Company commenced a Phase 2 RC drilling program on the Buckreef Main Zone and its northern strike extension to verify previous drilling results and establish the strike and down-dip continuity of mineralization identified in previous drilling.

“The latest results would seem to confirm our initial expectations about the potential in these areas,” says Jim Sinclair, President and CEO. “However, the deep-seated higher grade potential we are also seeing has proved even more intriguing,” he notes.  “This is reminiscent of my early experience when I was Chairman of the Company that owned the Bulyanhulu gold mine.”

According to Sinclair, “Gold deposits in these type greenstone belts run deep and we intend to test this hypothesis at Buckreef in the coming months.”

The Buckreef Project consists of four prospects including the dormant historic Buckreef Gold Mine at the western limit of the project area, the Tembo and Bingwa prospects, and the Buziba prospect 20km to the east.  The Company has been conducting resource definition exploration drilling in the immediate vicinity of the Buckreef Main deposit where at least three additional prospective shears (Eastern Porphyry, Buckreef Footwall and Buckreef Hanging-wall) were identified based on previous historical drilling by IAMGOLD. None of these results were released into the public record.

Down-the–hole lithological sequences comprise a series of mafic basaltic rock units alternating with dolerite and a series of narrow felsic porphyry units with pronounced shearing and alterations of the mafic packages at the contacts with the felsic porphyry units. Mineralization is localized within the sheared, quartz-carbonate-pyrite altered zones, preferably associated with the dolerite/felsic porphyry units and in thin quartz veins within the sheared and altered felsic porphyry.

Analysis

Samples from RC and diamond drill-holes were submitted to SGS Lab in Mwanza for 50g fire assay (FA) with AAS finish (0.01ppm LLD). Duplicates and Standards were inserted in the sample stream approximately every 20 samples. The average percentage of recovery core is 95%.  The planning, execution and monitoring of quality control programs at the Buckreef Gold project are under the supervision of Messrs. Charles Mnguto and Phillip Kaniki who are both registered Professional Geologists. Charles is the Head of Geology while Phillip is the Geology Resource Manager for the Company.

Qualified Person

The Company’s Qualified Person, Mr. Peter Zizhou, has reviewed and approved the contents of this news release. Mr. Zizhou is the General Manager (Exploration & Admin) of Tanzanian Royalty Exploration Corporation Limited. He has a Master of Science (Exploration Geology) degree from the University of Zimbabwe (2000) and is a registered scientist with SACNASP (Reg. No.400028/08).

Respectfully Submitted,

Joseph Kahama

Chairman and Chief Operating Officer (Tanzania)

 For further information, please contact Investor Relations at 1-800-811-3855

Visit our website: www.TanzanianRoyalty.com

The Toronto Stock Exchange and NYSE Amex Equities have not reviewed and do not accept responsibility for the adequacy or accuracy of this release

Cautionary Note to U.S. Investors – The United States Securities and Exchange Commission limits disclosure for U.S. reporting purposes to mineral deposits that a company can economically and legally extract or produce. We use certain terms on this news release, such as “reserves”, “resources”, “geologic resources”, “proven”, “probable”, “measured”, “indicated”, or “inferred” which may not be consistent with the reserve definitions established by the SEC.  U.S. Investors are urged to consider closely the disclosure in our SEC filings.  You can review and obtain copies of these filings from the SEC’s website at http://www.sec.gov/edgar.shtml

This news release contains certain forward-looking statements and forward-looking information. All statements, other than statements of historical fact, included herein are forward-looking statements and forward-looking information that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time-to-time with the British Columbia, Alberta and Ontario provincial securities regulatory authorities.

Certain information presented in this release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on numerous assumptions, and involve known and unknown risks, uncertainties and other factors, including risks inherent in mineral exploration and development, which may cause the actual results, performance, or achievements of the Company to be materially different from any projected future results, performance, or achievements expressed or implied by such forward-looking statements. Investors are referred to our description of the risk factors affecting the Company, as contained in our SEC filings, including our annual report on Form 20-F and Registration Statement on Form F-10, as amended, for more information concerning these risks, uncertainties, and other factors.

Tanzanian Royalty Amends Price and Term of Warrants

January 11th, 2012 by David Duval

Tanzanian Royalty Exploration Corporation has agreed to amend the exercise price and term of warrants previously issued pursuant to a private placement completed on November 5, 2010.

The exercise price of 125,000 common share purchase warrants has been reduced from C$7.309 to USD$4.00, and the term of the warrants has been extended one year to expire October 20, 2013.  In addition, if the weighted average trading price of the common shares increases to USD$6.50 after April 12, 2012, the company will be entitled to require that the holders exercise the warrants, failing which the warrants will terminate.  The warrants are held by an arm’s length investor.  The amendments become effective on January 25, 2012.

Respectfully submitted,
James E. Sinclair
President and Chief Executive Officer

For further information, please contact Investor Relations at 1-800-811-3855
Visit our website: www.TanzanianRoyalty.com

The Toronto Stock Exchange and NYSE Amex Equities have not reviewed and do not accept responsibility
for the adequacy or accuracy of this release

Cautionary Note to U.S. Investors – The United States Securities and Exchange Commission limits disclosure for U.S. reporting purposes to mineral deposits that a company can economically and legally extract or produce. We use certain terms on this news release, such as “reserves”, “resources”, “geologic resources”, “proven”, “probable”, “measured”, “indicated”, or “inferred” which may not be consistent with the reserve definitions established by the SEC.  U.S. Investors are urged to consider closely the disclosure in our SEC filings.  You can review and obtain copies of these filings from the SEC’s website at http://www.sec.gov/edgar.shtml

This news release contains certain forward-looking statements and forward-looking information. All statements, other than statements of historical fact, included herein are forward-looking statements and forward-looking information that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time-to-time with the British Columbia, Alberta and Ontario provincial securities regulatory authorities.

Certain information presented in this release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on numerous assumptions, and involve known and unknown risks, uncertainties and other factors, including risks inherent in mineral exploration and development, which may cause the actual results, performance, or achievements of the Company to be materially different from any projected future results, performance, or achievements expressed or implied by such forward-looking statements. Investors are referred to our description of the risk factors affecting the Company, as contained in our SEC filings, including our annual report on Form 20-F and Registration Statement on Form F-10, as amended, for more information concerning these risks, uncertainties, and other factors.

Older Entries »
« Newer Entries
login