Tanzanian Royalty Has Retained Venmyn Rand Limited ?to Prepare Mineral Resource Block Models and Updated Mineral Resource Statements for Tanzanian Royalty′s Buckreef Project in Tanzania

Venmyn Rand (Pty) Ltd. (Venmyn) has been retained by Tanzanian Royalty
Exploration Corporation to prepare Canadian National Instrument (NI
43-101) compliant Mineral Resource block models and Mineral Resource
estimates for its Buckreef Project in Tanzania. Venmyn has previously
prepared NI43-101 Independent Technical Reports (ITR) and a Preliminary
Economic Assessment (PEA) on the Buckreef Project, which have been
published on the System for Electronic Document Analysis and Retrieval
(SEDAR). The PEA has formed the basis of a planned Preliminary
Feasibility Study (PFS).

The previous ITRs ?were based on original Hellman and Schofield (2007)
resource estimates using Multiple Indicator Kriging (MIK) techniques and
in-house modeling programmes. Venmyn ?utilised the 2007 resource
estimates as the basis for the PEA and recommended that new Datamine?
block models be constructed for the Buckreef Project to eliminate any
incompatibility with mine design scheduling programmes going forward
into the PFS and ultimately the 'Definitive Feasibility Study? (DFS). In
addition, new exploration data from a recently completed Mineral
Resource drilling programme is available and will be incorporated into a
new and updated Mineral Resource estimate for the project.

Respectfully Submitted,

James E. Sinclair

President and Chief Executive Officer

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

Visit our website: www.TanzanianRoyalty.com

The Toronto Stock Exchange and NYSE MKT LLC 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 Corporation

James Sinclair,
1-800-811-3855

Email: investors@TanzanianRoyalty.com

Website:
www.TanzanianRoyaltyExploration.com

or

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Office:

Tel: (860) 364-1830

Fax: (860) 364-0673

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