Examination of Historical Drilling Results at Buckreef by Tanzanian Royalty Reveals High Grade Gold Values Across Significant Widths

31.05.2011  |  Business Wire

The Company is pleased to announce that it has completed a detailed
review of historical diamond drilling results on the Buckreef Main,
South and North Prospects which form the core of its recently acquired
Buckreef Gold Project in Tanzania.

Among the most interesting highlights of the drill programs were: 3.0
metres grading 12.3 g/t gold; 12 metres averaging 6.0 g/t gold; 3.0
metres grading 15.9 g/t gold; 29 metres averaging 3.43 g/t gold; 18.25
metres at 15.4 g/t; 16.3 metres averaging 31 g/t; 6.3 metres at 10.97
g/t; 22.6 metres averaging 3.52 g/t and 14 metres grading 10.92 g/t. The
sample depths for these intercepts ranged from approximately 100 metres
to 560 metres.

Because of the widely spaced nature of the drill holes, true widths of
the drill intercepts are unknown at this time.

Several drilling programs were conducted on the Buckreef property
between 1995 and 2004 by Kinross Gold, East Africa Mining, AngloGold
Ashanti, Spinifex Gold and Gallery Gold among others. These programs
generally targeted the main strike and down dip extension of the
Buckreef shear zone along a strike length exceeding one kilometre.

For cost reasons the deeper holes in the programs were widely spaced,
with the expectation that infill drilling would take place at a later
date. In addition, the companies were focusing on the open pit potential
of the Buckreef prospect which, given the gold price at the time, was
economically more attractive.

As part of its ongoing review of historical data for the Buckreef
Project, Tanzanian Royalty has been evaluating previous drill results in
the context of establishing the economic significance of the deeper
resources at the Buckreef Project using today′s gold prices. At the
present time, the Company′s technical staff are updating the Scoping
Study for Buckreef, paying specific attention to the exploration
potential of the deep-seated underground inferred resources which will
ultimately be incorporated into a full feasibility study.

The tables below are a summary of the significant fire assay results
from these various reconnaissance drilling programs:

In the near future, the Company intends to implement a definitive
drilling program aimed at increasing the drill-hole density and
upgrading the present deep-seated mining resource on the Buckreef Gold
Project from its current Inferred category to the Indicated category.

Qualified Person

The Company's Qualified Persons are Mr. Peter Tererai Zizhou, the General
Manager and Mr. Phillip Kaniki, the Resource Evaluation
Manager of Tanzanian Royalty Exploration Corporation Limited. Mr.
Zizhou has a Master of Science (Exploration Geology) degree from
the University of Zimbabwe (2000) and is a registered scientist with SACNASP
(Reg. No.400028/08). Mr. Kaniki has a Bachelor of Science
(Geology) degree from the University of Dar es Salaam (1997) and is
a registered scientist with AusIMM (Reg. No.221963/07). Mr. Kanikihas reviewed and validated the RC and DD drill-hole data for this
particular prospect.

Analysis

Several reports on the Buckreef Gold Mine Project covering these results
have been done and all details of QAQC control measures at that time of
these drilling programs are amply summarized therein.

Respectfully Submitted,

Joseph Kulwa Kahama

Chairman and Chief Operations Officer

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

Visit our website: www.TanzanianRoyaltyExploration.com

The Toronto Stock Exchange and American Stock Exchange 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 permits U.S.mining companies,
in their filings with the SEC, to disclose only those mineral deposits
that a company can economically and legally extract or produce.We
use certain terms on this news release, such as 'measured?, 'indicated?,
and 'inferred? 'resources? that the SEC guidelines strictly prohibit
U.S. registered companies from including in their filings with the SEC.U.S. Investors are urged to consider closely the disclosure in our
Form 20-F, File No. 0-50634, which may be secured from us, or from the
SEC′s website at http://www.sec.gov/edgar.shtml.