Tanzanian Royalty Announces Appointment of New CFO

December 31st, 2014

Tanzanian Royalty Exploration Corporation is pleased to announce that Marco Guidi has been
promoted to Chief Financial Officer of the Company. Mr. Guidi, a Chartered Accountant with
both large and boutique accounting firm experience, has provided Corporate Controller
accounting and other financial services to the Company for several years and is very familiar
with its financial processes and controls. Mr. Guidi is well respected within the accounting
industry and has existing working relationships with all of the Company’s independent
accounting advisors, auditors and tax advisers. The Company welcomes Marco to its senior
management team.

Steven van Tongeren, the Company’s departing CFO, unfortunately had to resign his position as
a result of urgent family matters requiring his attention. Steve has been a valued member of the
Tanzanian Royalty management team since February 22, 2011, and the Company wishes him all
the best in his new endeavours. The Company is very pleased that Steve has agreed to assist the
Company on a part-time consulting basis going forward.

Respectfully submitted,
Joseph K. Kahama
Chairman and Chief Operating Officer (Tanzania)

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