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TORONTO, Jan. 11, 2019 (GLOBE NEWSWIRE) — Tanzanian Royalty Exploration Corporation’s (TSX:TNX) (NYSE MKT:TRX) (the “Company’s”) Board of Directors is pleased to announce the entering into subscription agreements for the sale of 3,924,386 common shares raising $885,734 in the aggregate with two investors.

The proceeds from the sale of common shares will be used in furtherance of the Company’s Three-Phase Drill Program at the Buckreef Project previously announced.

The common shares are being offered pursuant to an effective shelf registration statement on Form F-3, that was previously filed with the Securities and Exchange Commission and declared effective on September 5, 2018. The sale of the common shares is expected to close on or before on January 16, 2019, subject to the satisfaction of customary closing conditions, including acceptance of the listing of the common shares by the NYSE American and the Toronto Stock Exchange.

Respectfully Submitted,

“James E. Sinclair”

James E. Sinclair

Executive Chairman

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TORONTO, ONTARIO – Tanzanian Royalty Exploration Corporation (TSX:TNX)(NYSE MKT:TRX) (the “Company’), Board of Directors is pleased to announce the selection of Stamico, and Coreworthy to complete Phase One of our planned Three-Phase Drill Program. Total meters to be drilled in all Phases is expected to amount to approximately 30,000. The Three Phase Drill Program is being planned and directed by Ulrich Rath, Chair of our Technical Committee.

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A CANADIAN mining company has reaffirmed its support for the government’s overhaul of the legal and regulatory framework in Tanzania’s mining sector that has caused jitters among some foreign investors in the country.

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TORONTO, ONTARIO – Tanzanian Royalty Exploration Corporation (TSX:TNX)(NYSE MKT:TRX) (the “Company’) is pleased to announce Michael E. Martin has accepted the position of head of Investor Relations for the Company.  Mr. Martin has a distinguished career in the Financial Services Industry, which spans more than thirty-seven (37) years.  He has extensive experience and knowledge in the precious metals and mining industries.  In addition to these specializations, he has a broad base of general experience as a licensed Financial Advisor.

Mike has had a successful and distinguished career from a young age.  Early in Mike’s career, he was a Registered Representative, Series 7, financial principal of a boutique brokerage firm specializing in mining and resource investment and achieved a management position. The firm was a formidable trader of Over-The-Counter (OTC) gold mining companies, and served many European Banks, mutual funds, financial institutions, broker-dealers and high net-worth individuals, worldwide.  Thereafter, Mike’s career opportunities expanded and changed when he moved to Toronto, which was rapidly becoming a global mining industry center. Mike ran a sizeable and successful trading operation as part of the international trading desk for a large integrated Canadian brokerage firm.  Mike returned to New York to work for another boutique firm where he remained for over twenty (20) years. There, he continued to evolve a metal and mining focused business providing mining analysis and commentary for the firm and his clients.  During this period, Mike was often quoted in the press by Bloomberg News, The New York Times and other publications.  Most recently, Mike has worked as a Financial Advisor for Oppenheimer & Co. and Westport Capital Markets.

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TORONTO, ONTARIO – 23 October 2017, Tanzanian Royalty Exploration Corporation (TSX:TNX)(NYSE MKT:TRX) hereinafter (the “Company”) reports in an article by John Aglionby published today in the Financial Times, “Acacia Mining’s shares soared more than 18 per cent on Thursday after its majority shareholder, Barrick Gold, agreed the Tanzanian government would take a 16 per cent stake in its assets in the east African country to end a six-month dispute over the miner’s operations.” See the Financial Times article attached below in full.

“We believe this settlement is very good news for the Company. The settlement between Barrick and Tanzania represents a major step in furtherance of fairness and equity between the host nation and leaders in the extraction industry.  Tanzania and shareholders in the extraction industry can both benefit in a fair distribution of generated mineral profits. We saw a similar structure recently negotiated between Freeport McMoRan and the Indonesian Government; where Indonesia obtained 51% of the Grasberg mine. These are fair relationships between a host nation and investors.” said James E. Sinclair, Executive Chairman.

 

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TORONTO, ONTARIO – Tanzanian Royalty Exploration Corporation (TSX:TNX)(NYSE MKT:TRX) hereinafter (the “Company”) announces that it is not affected by new laws in Tanzania.

“The new mining laws in Tanzania appear to be an action to gain a fair share of the financial rewards for the people and nation of Tanzania while still providing incentives to the investors. The proposed legislation is not nationalization.” stated James E. Sinclair, Executive Chairman.

Jim Sinclair co-authored a book titled “BOOM,” written in the 1990s with Mr. F. Vogl, former Director of Communications for the World Bank. “Boom” outlines the authors’ prediction for the economic development of China, Tanzania and India as those countries move into the modern Global economy. Many of the new laws adopted in Tanzania (and elsewhere) were outlined in the book. The authors’ premise, which is being borne out in present legislative trends states that to participate in the development of a foreign economy investing companies must enter into mutually beneficial contracts.

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Tanzanian Royalty’s recently released Mine Feasibility Study (MFS) defines 1.064 million ounces of open pit minable gold, and initiates discussion on development of the underground Mine potential.

 

FOR IMMEDIATE RELEASE                        TORONTO, ONTARIO – July 13, 2017

 

Tanzanian Royalty Exploration (“TRX” or the “Company”) (NYSE: TRX) (TSX: TNX) is providing an update to its shareholders, discussing the findings of its recently completed Mining Feasibility Study (“MFS” or the “Study”) on its JV-owned Buckreef Gold Mine Project (the “Project”). The Study was led by an external consultant team from MaSS Resources Ltd. of Tanzania, with technical support provided by an internal team and combined previous published Preliminary Economic Assessment study results by Venymn of South Africa, as well as other historical feasibility studies conducted over the years on this historic deposit. The Buckreef project is in the Geita District in Lake Victoria Greenstone Belt in central Tanzania, East Africa. The full study can be found on the home page of the Company’s website: www.tanzanianroyalty.com

 

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Tanzanian Royalty Exploration Corporation (hereinafter, the “Company” or “Tanzanian Royalty”) (TSX:TNX)(NYSE MKT:TRX) announces that it is not effected by legislative trends in Tanzania.   Jim Sinclair co-authored a book titled “BOOM,” written in the 1990s with Mr. F. Vogl, former Director of Communications for the World Bank. “Boom” outlines the authors’ prediction for the economic development of China, Tanzania and India as those countries move into the modern Global economy. Many of the legislative changes presently proposed in Tanzania (and elsewhere) were outlined in the book. The authors’ premise, which is being borne out in present legislative trends, states that to participate in the development of a foreign economy investing companies must enter into mutually beneficial contracts.

 

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TORONTO, ONTARIO–(Marketwired March 30, 2017) – Tanzanian Royalty Exploration Corporation (TSX:TNX)(NYSE MKT:TRX) (the “Company”) announces that Mr. Jeffrey Duval, acting CEO, is pleased to report that the preparatory work for future mining has commenced.  Management decided to proceed with the clearing process in preparation for pre stripping and grade control drilling to follow. Pre-stripping operations exposes the area of the property where already identified mineralization exist. This process is used to map out the grade location and maintain strict control throughout, and provides for accurate grade selection.

Presently there are 7128 ounces of gold in storage for processing upon completion of the CIL module. Though the gravity circuit is already installed the planned CIL/Gravity system will provide higher recoveries.

Mr. Duval is starting this process now because even though our ore storage facility is full, as material is processed it will be open space for more material to be processed.

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TORONTO, ONTARIO–(Marketwired March 27, 2017) – Tanzanian Royalty Exploration Corporation (TSX:TNX)(NYSE MKT:TRX) (the “Company”) is pleased to announce that the reported Tanzania Gold Export Ban does not apply to the Company. The export ban applies to companies which ship concentrate out of the United Republic of Tanzania. The concentrate cannot be weighed and measured for the purposes of tax revenues in Tanzania since it is in the form of concentrate which may or may not be fungible. The Company does not produce nor ship concentrate. The Company produces gold dore for shipment. Gold dore is able to be assayed, weighed and measured prior to export so that the Tanzanian tax revenues are assessable and able to be determined prior to export.

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