Tanzanian Royalty Comments on Past Disclosure

August 24th, 2012

Tanzanian Royalty Comments on Past Disclosure

South Surrey, British Columbia, August 24, 2012

As a result of a review by the British Columbia Securities Commission, Tanzanian Royalty Exploration Corporation (TSX: TNX; AMEX: TRX) (the “Company”) is issuing this news release to clarify our disclosure.

Further to the Company’s press release on April 25, 2012, the Company filed a National Instrument 43-101 (“NI 43-101”) Preliminary Economic Assessment of the Buckreef Gold Mine Re-Development Project in Tanzania prepared by Venmyn Independent Projects (Pty) Limited (the “PEA”). While both the Company and Venmyn worked as expeditiously as possible to finalize the report, the report was filed on June 20, 2012, more than 45 days after the date of the press release. The economic analysis in the report was carried out on measured, indicated and inferred resources. The April 25, 2012 press release inadvertently neglected to include the following cautionary language: the preliminary economic assessment is preliminary in nature, includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized.

Full article here

TRX News Release 2012, August 24