Tanzanian Royalty Granted Mineral Rights and Mining License at Kigosi
Tanzanian Royalty Exploration Corporation (TSX:TNX)( ?NYSE MKT LLC: TRX)is pleased to announce that the Company′s Kigosi Project in Tanzania
has been ?granted a Mineral Rights and Mining License through its wholly
owned subsidiary, Tanzania American International Development
Corporation 2000 Limited ('Tanzam?). The Mineral Rights and Mining
License covers the entire area applied for, 9.91 square kilometres of
the Kigosi Project.
The grant of a Mining License allows for eventual production at Kigosi.
The Kigosi Project has been certified for its environmental worthiness
and safety following multiple stages of review and permits, including
town hall meetings and focus group discussions among local and district
residents and stakeholders, as well as local and national government
regulators.
The Kigosi Project represents one of five projects ? the others are
Itetemia, Buckreef, Bingwa and Tembo - that are included in the
Company′s production plan.
It is the Company′s intention to move to production on all gold
properties that qualify, while at the same time expanding exploration on
the base metals project in the Kabanga Nickel Belt. The latter will be
undertaken by its subsidiary, Northwestern Base Metals Company Limited,
a company whose investors also include the State Mining Corporation of
Tanzania (Stamico) and Beijing Songshanheli Mining Investment Co., a
Beijing-based mining company. The properties under the operatorship of
Northwestern Base Metals Company Limited are being evaluated as
exploration prospects primarily for tungsten, nickel, cobalt and other
base metals such as cassiterite and coltan.
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 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
