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Tanzanian Royalty Announces Shelf Registration Statement Declared Effective

Posted By TRX Admin On September 10, 2018 @ 2:43 PM In President's Corner | Comments Disabled

TORONTO, Sept. 10, 2018 (GLOBE NEWSWIRE) — Tanzanian Royalty Exploration Corporation (TSX:TNX [1])(NYSE MKT:TRX) (the “Company’) is pleased to announce that its shelf registration statement on Form F-3 was declared effective by the Securities and Exchange Commission (SEC).  The company plans to utilize this shelf registration to conduct additional infill drilling as recommended by our engineers on page 29 of the recently released amended 43-101. This gold drilling program seeks to upgrade listed inferred resources into higher categories of indicated or measured, this material once upgraded can be included in our totals for the open pit in the future definitive feasibility study.  This gold drilling program will also include additional testing and delineation of the mineralization below the bottom of the open pit which is currently open in all directions. This deep underground potential available on the Buckreef project can be viewed in cross section in the amended 43-101 page number 105. The drill program comprised of the infill drilling as well as continued definition and testing at depth of the underground potential are accretive in nature and will solidly position the company to begin work on the definitive feasibility study. This shelf registration statement will allow the Company to raise up to US$15 million through the sale of securities, which may consist of common shares or warrants, or a combination thereof, in one or more offerings in the future.  Specific terms and prices of any offering will be determined at the time of such offering and included in a prospectus supplement to be filed with the SEC. While the company has put this shelf registration in place it has no obligation or requirement to use it and will continue to seek the best funding options available.

James E. Sinclair
Executive Chairman

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