Tanzanian Royalty Reports High Grade Assay Results at Buckreef Project including 3.5 Metres @ 35.54 g/t Au, 7 Metres @ 18.47 g/t Au, 4 Metres @ 14.47 g/t Au and 17 Metres @ 5.26 g/t Au

Tanzanian Royalty Exploration Corporation is pleased to announce the
release of new assay results from its current deep drill program at the
Buckreef Gold Project in Tanzania targeting the deep extension
potential. These results are part of the ongoing drill program designed
to determine the potential for expanding the size of the mineral
resource estimate published in June 2011.

The results of the systematic drilling in the deep extension of Main
zone and North zone demonstrate that this zone continues to deliver
interesting results at depth as indicated below:

• 
  Drill hole BMDD166 returned an interval of 7.66 metres at 5.56g/t
  gold, including 3 metres at 9.35g/t gold and a second zone of 7 metres
  grading 18.47g/t Au, including 3.5 metres at 35.54g/t Au and a third
  zone of 7 metres at 1.81g/t Au.
  
• 
  Drill hole BMDD170 returned an interval of 8 metres grading 4.07g/t
  Au, including 3 metres at 7.91g/t Au and a second zone of 6.9 metres
  at 2.69g/t Au.
  
• 
  Drill hole BMDD171 returned an interval of 30 metres grading 1.36g/t
  Au, including 1 meter at 5.02g/t Au and a second zone of 4 metres at
  2.16g/t Au from 339m.
  
• 
  Drill hole BMDD172 returned an interval of 10 metres grading 6.7g/t
  Au, including 4 metres at 14.47g/t Au from 315m.
  
• 
  Drill hole BMDD174 returned an interval of 42.1 metres grading 3.23g/t
  Au, including 17 metres at 5.26g/t Au from 376m.
  

The intersection reported here is a core length and may not represent
true width but the true width is estimated to be 50 ? 60%.

The gold mineralization at the Buckreef is hosted in shear zones
emplaced along the fine grained basaltic sequence, medium grained
dolerite and strongly altered felsic porphyry units, associated with
gold-bearing quartz-sericite-carbonate-pyrite alteration assemblages.
The best gold grades are confined within brecciated and altered dolerite
with felsic porphyry intercalation and grey quartz vein with fine
disseminated pyrite.

'We are pleased with these higher grade assay results from core drilling
at Buckreef? commented Joseph K. Kahama, Chairman and Chief Operating
Officer (Tanzania). 'These results show that our drilling has been
successful and has provided the first opportunity to sample the deep
mineralization at Buckreef,? he further added. 'This drill intercept has
confirmed the width and gold grade of a greater than 12m wide
hydrothermal veined mineralized system with a well developed
silica-sericite-carbonate-pyrite alteration. This will serve to further
increase our level of confidence associated with the Buckreef gold
project as we continue exploration to determine the potential for
increasing our resource base. Meanwhile, all mineralized zones below a
vertical depth of 350m below surface remain largely untested.?

Sample Protocol and QA/QC

The samples chain of custody is managed by the Buckreef technical team
under the supervision of Anthony Minde. Gold analyses reported in this
release were performed by standard fire assay using a 50-gram charge
with atomic absorption finish (0.01ppm LLD) and a gravimetric finish for
assays greater than 10 grams per tonne. All assays were performed by SGS
laboratory in Mwanza. Sampling and analytical procedures are subject to
a comprehensive quality assurance and quality control program. The QA-QC
program includes duplicate samples, blanks and analytical standards.

Intervals of core to be analyzed are split with a mechanized core cutter
in half with one half to be sent to the laboratory for geochemical
analysis and the remaining half to be kept in the storage for future
reference and uses.

SGS laboratory is ISO 90001 and 17025 accredited and employs a
Laboratory Information Management System for sample tracking, quality
control and reporting.

Qualified Person

The information in this press release has been reviewed and approved by
Mr. Phillip Kaniki. Mr. Kaniki has a Bachelor of Science in Geology
degree from the University of Dar es Salaam (1997), and is a registered
scientist with the Canadian Institute of Mining, Metallurgy and
Petroleum (Reg. No. 156370).

Respectfully submitted,

Joseph Kahama

Chairman and Chief Operating Officer (Tanzania)

For further information, please contact Investor Relations at
1-800-811-3855

Visit our website: www.TanzanianRoyalty.com

The
Toronto Stock Exchange and NYSE Amex Equities have not reviewed and do
not accept responsibility for the adequacy or accuracy of this release

Cautionary Note to U.S. Investors - The United States Securities and
Exchange Commission limits disclosure for U.S. reporting purposes to
mineral deposits that a company can economically and legally extract or
produce. We use certain terms on this news release, such as 'reserves?,
'resources?, 'geologic resources?, 'proven?, 'probable?, 'measured',
'indicated', or 'inferred' which may not be consistent with the reserve
definitions established by the SEC.U.S. Investors are urged to
consider closely the disclosure in our SEC filings.You can
review and obtain copies of these filings from the SEC's website at http://www.sec.gov/edgar.shtml

This news release contains certain forward-looking statements and
forward-looking information. All statements, other than statements of
historical fact, included herein are forward-looking statements and
forward-looking information that involve various risks and
uncertainties. There can be no assurance that such statements will prove
to be accurate, and actual results and future events could differ
materially from those anticipated in such statements. Important factors
that could cause actual results to differ materially from the Company's
expectations are disclosed in the Company's documents filed from
time-to-time with the British Columbia, Alberta and Ontario provincial
securities regulatory authorities.

Certain information presented in this release may constitute
'forward-looking statements? within the meaning of the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements are based on numerous assumptions, and involve known and
unknown risks, uncertainties and other factors, including risks inherent
in mineral exploration and development, which may cause the actual
results, performance, or achievements of the Company to be materially
different from any projected future results, performance, or
achievements expressed or implied by such forward-looking

statements. Investors are referred to our description of the risk
factors affecting the Company, as contained in our SEC filings,
including our annual report on Form 20-F and Registration Statement on
Form F-10, as amended, for more information concerning these risks,
uncertainties, and other factors.

Tanzanian Royalty Exploration

James Sinclair, 1-800-811-3855

Investor
Relations

Email: investors@TanzanianRoyalty.com

www.TanzanianRoyalty.com

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