Mr. Jeffrey Duval reports

TANZANIAN ROYALTY RESOURCES UPDATE ON BUCKREEF DEVELOPMENT PROJECT

Tanzanian Royalty Exploration Corp.'s preparatory work for future mining has commenced. Management decided to proceed with the clearing process in preparation for prestripping and grade control drilling to follow. Prestripping operations expose the area of the property where already-identified mineralization exists. This process is used to map out the grade location and maintain strict control throughout and provides for accurate grade selection.

Presently, there are 7,128 ounces of gold in storage for processing upon completion of the carbon-in-leach (CIL) module. Though the gravity circuit is already installed, the planned CIL/gravity system will provide higher recoveries.

Jeffrey Duval, acting chief executive officer, is starting this process now because, even though the company's ore storage facility is full, as material is processed, it will be open space for more material to be processed.

It is the intention of the company to ship the resulting dore bars after royalty payments to Tanzania to its refiner, Argor-Heraeus, in Switzerland. It will be stored, more than likely, not sold, but borrowed against for cash flow necessities.

James E. Sinclair, executive chairman, will manage the gold position in the market place pending sale. He was considered in the 1968 to 1980 gold market as the largest world trader in gold. He has been named Mr. Gold in many publications, some recently. His experience as a market maker for more than 30 years offers the company the option for the management of the gold position sales. This strategy replaces the normal, mine and sell as fast as possible, common to the industry. The rationale behind the intent to borrow against the dore rather than to sell it is based on Mr. Sinclair's widely known assumption of future significantly higher prices in the gold market. This is not without significant risk of the marketplace. The company is willing to assume this risk due to Mr. Sinclair's experience. It should be noted that past performance is no guarantee to future performance.

About Tanzanian Royalty Exploration Corp.

Tanzanian Royalty Exploration is a mineral resource company which engages in the acquisition, exploration and extraction of gold and other natural resources in the United Republic of Tanzania in Africa. The company, after successfully exploring for gold, has identified three development projects, Buckreef, Kigosi and Itetemia. In early 2016, in conjunction with its first gold pour, the company was deemed a commercial gold producer by the Tanzanian government. The company is presently focused on its Buckreef gold project located in north-central Tanzania.

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