Tanzanian Royalty Announces Filing of Registration Statement for Convertible Debenture Facility

January 14th, 2015

Tanzanian Royalty Exploration Corporation announces that it has filed with the SEC a
registration statement on Form F-3 in connection with the common shares underlying the $10
million debenture financing that closed out of escrow on December 29, 2014.

Pursuant to the financing agreement, the registration statement covers 300% of the common
shares potentially issuable by conversion of up to $15 million in debentures, together with 110%
of the common shares potentially issuable on exercise of the common share purchase warrants
issuable to the lender, for a total of 57,558,675 common shares.

The conversion price is $0.98, and 11,787,531 is the actual number of common shares available
for conversion under the $10 in debentures currently outstanding (assuming conversion of all
principal and all remaining interest payable until maturity on December 9, 2016). To date, the
Company has issued to the lender 5-year warrants to purchase 982,143 common shares at an exercise
price of $0.98 per share. Additional warrants will be issued on any future drawdowns under
the facility, or if the lender opts to increase the debenture facility to $15 million. Interested
parties are referred to the registration statement for a summary of the relevant details.

Respectfully submitted,
James E. Sinclair
Chief Executive Officer

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