Mr. Joseph Kahama reports

TANZANIAN ROYALTY REPORTS MORE POSITIVE DRILL RESULTS FROM THE ONGOING DIAMOND AND REVERSE CIRCULATION DRILLING PROGRAM AT ITS BUCKREEF MAIN AND TEMBO PROSPECTS

Tanzanian Royalty Exploration Corp. has received more positive assay results from the continuing diamond (DD) and reverse circulation drilling program at the Buckreef Main and Tembo prospects at the company's Buckreef gold project in the Lake Victoria goldfields of Tanzania.

The latest results represent a continuation of the positive results that the company has been obtaining from various targets being tested in the continuing drilling program, which started in October, 2011.

According to Joseph K. Kahama, chairman and chief operating officer (Tanzania), "The amazing consistency of the drill results we are reporting across the broader Buckreef property suggests plenty of room for resource growth, which can only enhance the preliminary economic assessment that is currently being finalized."

The recent drill results from the Buckreef Main and Tembo prospects are summarized as follows:

• BMDD112 returned 2.13 metres if 2.92 grams per tonne gold including one metre of 10.8 g/t gold.
• BMDD114 returned six metres of 1.05 g/t gold and 5.7 metres of 1.57 g/t gold.
• BMDD115 returned 5.47 metres of two g/t gold and 27 metres of 2.7 g/t gold.
• BMDD116 returned four metres of 3.2 g/t gold, three metres of 3.16 g/t gold and seven metres of 3.47 g/t gold.
• BMDD119 returned 3.3 metres of 2.53 g/t gold and 13 metres of 2.86 g/t gold.
• BMDD120 returned three metres of 4.06 g/t gold.
• BMDD121 returned four metres of one g/t gold and two metres of 1.1 g/t gold.
• BMDD122 returned seven metres of 1.23 g/t gold, two metres of 1.24 g/t gold and six metres of 1.28 g/t gold.
• BMDD123 returned 13 metres of 1.71 g/t gold, seven metres of 1.63 g/t gold and four metres of 1.29 g/t gold.
• TMRC113 returned three metres of 14.75 g/t gold and six metres of 3.38 g/t gold.
• TMRC114 returned three metres of 2.62 g/t gold.
• TMRC115 returned two metres of 1.92 g/t gold.

Diamond drill holes BMDD112 through BMDD119 were aimed at investigating the northeast extension of the Buckreef Main zone, while BMDD120 to BMDD123 were directed at evaluating and upgrading the current inferred resource to the measured and indicated category between depths of 150 metres and 200 metres below surface. The holes above are estimated to be approximately 60 per cent of true width.

The Buckreef Main deposit consists of shear-zone-hosted mineralization associated with auriferous-quartz-carbonate-pyrite assemblages. The shear structure is steeply dipping and is emplaced along mafic basaltic sequences and dolerite intrusive rock.

At Tembo, reverse circulation holes TMRC113 to TMRC115 were designed to investigate the lateral extension of known Tembo mineralization to the east and a splay zone that trends to the northeast.

Similar to Buckreef Main, Tembo mineralization is structurally controlled and is hosted in a subvertical shear zone emplaced along a mafic basaltic sequence. The mineralization is confined along an east-west-trending shear structure and a newly discovered northeast-trending splay.

The Buckreef project consists of four prospects, namely the dormant historic Buckreef gold mine at the western limit of the project area, the Tembo and Bingwa prospects, and the Buziba prospect 20 kilometres to the east. The company has been conducting resource definition exploration drilling in the immediate vicinity of the Buckreef Main deposit, where at least three additional prospective shears, named the Eastern porphyry, Buckreef footwall and Buckreef hangingwall, were identified based on previously unpublished historical drilling results by Gallery Gold and Iamgold.

Buckreef is an advanced-stage gold project with National Instrument 43-101-compliant gold resources at a cut-off grade of 0.5 g/t of:

• Measured -- 5,176,000 tonnes grading 2.05 g/t (341,000 ounces);
• Indicated -- 24.97 million tonnes averaging 1.19 g/t (954,000 ounces);
• Inferred -- 17,173,000 tonnes grading 1.51 g/t (835,000 ounces).

Almost 61 per cent of these resources are currently in the measured and indicated categories, and based on the recent exploration successes, infill drilling is expected to significantly improve this already favourable resource ratio. The majority of the resources are oxide and non-refractory, and are amenable to conventional, off-the-shelf mineral processing techniques.

Analysis

Samples from reverse circulation and diamond drill holes were submitted to the SGS Lab in Mwanza for 50-gram fire assay (FA) with AAS finish (0.01 part per million LLD). Duplicates and standards were inserted in the sample stream approximately every 20 samples. The average percentage of recovery core is 95 per cent. The planning, execution and monitoring of quality control programs at the Buckreef gold project are under the supervision of Anthony Minde, the company's principal geologist. Mr. Minde has over 20 years of experience on the Buckreef project.

Qualified person

This press release was reviewed and approved by the company's qualified persons, Charles Mnguto and Phillip Kaniki. Mr. Mnguto is the company's regional exploration manager. He has a bachelor of science in geology (honours) from the University of Dar es Salaam (1995), and is a registered scientist with MAusIMM (reg. No. 307793). Mr. Kaniki, the company's resource development manager, has a bachelor of science in geology from the University of Dar es Salaam (1997), and is a registered scientist with MAusIMM (reg. No 221963).

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