Tanzanian Royalty Reports New Drilling Results from the Buckreef Project Continue to Intersect Wider Mineralization Zone At Depth with 15.0 Metres @ 5.45g/t Au including 3.0 Metres @ 12.20g/t Au

17.08.2012  |  Business Wire

Tanzanian Royalty Exploration Corporation is pleased to announce that
new assay results from its ongoing deep diamond drill program at the
Buckreef Gold Project in Tanzania have been received, confirming
continuity of the wide, higher-grade gold mineralization.

Significant intercepts reported include:-

• 
  BMDD183 which intersected 10m at 2.43g/t Au from 297m, including 3m @
  3.77g/t Au from 302m, and a second wide zone of 21m at 3.24 g/t gold
  from 310m, including 3m at 8.39g/t Au from 327m.
  
• 
  Drill hole BMDD185 returned an interval of 15 metres grading 5.45g/t
  Au from 300m, including 3m at 12.20g/t Au from 302m and 1 metre at
  8.54g/t Au from 309m.
  
• 
  Drill hole BMDD186 returned an interval of 1m grading 2.77g/t Au from
  93m, an interval of 1m at 2.11g/t Au from 182m, an interval of 4
  metres at 2.56g/t Au from 197m, including 0.7m at 5.94g/t Au from
  199m, an interval of 2m at 1.27g/t Au from 418m and an interval of 11
  metres at 0.66g/t Au from 424m.
  
• 
  Drill hole BMDD187 returned an interval of 1 metre grading 1.87g/t Au
  from 238m and a second interval of 4m grading 2.79g/t Au, including 1
  metre at 6.92g/t Au from 304m.
  
• 
  Drill hole BMDD188 returned an interval of 19 metres grading 3.43g/t
  Au from 254m, including 4m at 4.38g/t Au from 263m.
  

These higher grade zones are encouraging as the Company continues its
exploration of the potential for Buckreef to expand its future growth
profile.

The intersection reported here is a core down - holes length and may not
represent true width but the true width is estimated to be 50 ? 60%.

The gold mineralization at Buckreef is hosted in shear zones emplaced
along the fine grained basaltic sequence, medium grained dolerite and
strongly altered felsic porphyry units, associated with gold-bearing
quartz-sericite-carbonate-pyrite alteration assemblages. The best gold
grades are confined within brecciated and altered dolerite with felsic
porphyry intercalation and grey quartz vein with fine disseminated
pyrite.

Joseph K. Kahama, Chairman and Chief Operating Officer (Tanzania),
commented 'We are very encouraged by the new drilling results which
intersected a mineralized zone of significant width at a depth of 300m
below surface and confirmed the presence of structure control gold
mineralization at depth.? He added, 'drilling to date on the deeper
Buckreef has validated the geological interpretation?.

Sample Protocol and QA/QC

The samples chain of custody is managed by Buckreef technical team under
the supervision of Anthony Minde. Gold analyses reported in this release
were performed by standard fire assay using a 50-gram charge with atomic
absorption finish (0.01ppm LLD) and a gravimetric finish for assays
greater than 10 grams per tonne. All assays were performed by SGS
laboratory in Mwanza. Sampling and analytical procedures are subject to
a comprehensive quality assurance and quality control program. The QA-QC
program includes duplicate samples, blanks and analytical standards.

Intervals of core to be analyzed are split in half with a mechanized
core cutter with one half to be sent to the laboratory for geochemical
analysis and the remaining half to be kept in storage for future
reference and uses.

SGS laboratory is ISO 90001 and 17025 accredited and employs a
Laboratory Information Management System for sample tracking, quality
control and reporting.

Qualified Person

Peter Zizhou Msc (Geology), is a qualified person registered in SACNASP
(Reg. No. 400028/08) as defined by NI-43-101 and has reviewed the
technical information that this press release contains.

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

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do not accept responsibility for the adequacy or accuracy of this release

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'resources?, 'geologic resources?, 'proven?, 'probable?, 'measured',
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