Tanzanian Royalty Exploration Corporation

Tanzanian Royalty Reports Impressive Gold Values Over Substantial Widths at Itetemia Project in Tanzania

    Vancouver, Canada (ots/PRNewswire) - Tanzanian Royalty Exploration Corporation is pleased to announce that  assay results have been received from the first of four diamond drill holes  currently being drilled on the Golden Horseshoe Reef (GHR) at its Itetemia  Project in Tanzania. The GHR is situated on a sub-parallel structure immediately to the east of Barrick's Bulyanhulu gold mine.

@@start.t1@@      Assay results for GHDD-029 in the GHR include the following:
      -------------------------------------------------------------------------
      Golden Horseshoe Reef
      -------------------------------------------------------------------------
      Hole No.      From          To        Intercept         Gold            Including
                      (Metres)  (Metres)  (Metres)    (grams/tonne)
      -------------------------------------------------------------------------
      GHDD-029    194.60      215.18        20.58            3.69          2.5m (at) 6.13g/t
      -------------------------------------------------------------------------
                                                                                                4.0m (at) 6.75g/t
      -------------------------------------------------------------------------@@end@@

    The true width of these intercepts is estimated to be 50% of the down  hole intersections.

    The steeply-dipping to near-vertical mineralized zone consists of a  higher-grade hanging wall (2.50 m (at) 6.13 g/t) and a similar grading  footwall (4.00 m (at) 6.75 g/t), with a 13 metre intervening section  averaging 2.33 g/t. Duplicate results are still pending.

    The mineralization is typically characterized by fine-to-medium- grained sulphides (predominantly pyrite and pyrrhotite) and increased silica and carbonate alteration.

    According to Tanzanian Royalty Chairman and CEO, Jim Sinclair, "These  initial results suggest a broad distribution of economically attractive  gold values in the GHR and reaffirm our belief that its full potential  remains to be fully established."

    Since the return of the Itetemia prospecting licenses from Barrick East Africa Limited in 2004, no further exploration work had taken place.  As part of the Company's re-evaluation of this important asset, historic  drill hole data was assembled and examined in considerable detail.

    Zones of anomalous gold mineralization were identified from the data  and grade composites were re-calculated using a minimum cutoff grade of 6 g /t and a minimum intersect thickness of one metre. Bulk gold content for  each composite was subsequently calculated and plotted onto a longitudinal  section of the GHR. A spatial distribution analysis of the bulk gold  content was then performed, focusing on the higher grade composites exceeding 31 gm/t.

    This procedure helped recognize a well-defined, higher grade "pay shoot" with a pitch of 55-60 degrees to the west. A search envelope was  subsequently defined that emphasized the pay shoot and allowed for the bulk  gold content data to be contoured on a longitudinal section. (See  longitudinal section attached).

    The latest phase of drilling at Itetemia is targeting specific depths  or pierce points along the modeled pay shoot. Three holes have been  completed to date (GHDD-029, GHDD-030 and GHDD-031) and the fourth (GHDD- 032) is nearing target depth.

    "The first three drill holes completed thus far succeeded in intersecting the GHR zone within 50 metres of the planned pierce points and  within the 31gm/t envelope," said the Company's president, John Deane.

    For longitudinal section please see

    http://files.newswire.ca/508/tnx05july06.doc

    Future Plans

    Should the remaining three drill holes confirm the existence of the  modeled pay shoot, an infill diamond drilling program will be considered as  a means of providing a greater constraint on the assumed pay shoot, along  with a higher drill hole density for resource estimation purposes.

    Given the present drill hole density, the precise strike extent of this higher-grade pay shoot remains to be clearly defined at depth. However , higher grade values near surface have been established by drilling for at  least 250 metes along strike, Deane noted.

    Other Projects

    In addition to the exploration activity at Itetemia, Tanzanian Royalty  is undertaking a Reverse Circulation (RC) drilling program on several  kimberlite targets on its 853 square kilometers Mwadui Project. The world  famous Mwadui diamond mine is centrally located within the project area.

    Analysis

    Fire assay with flame AAS finish was conducted by SGS Laboratories in  Mwanza, Tanzania.  Duplicates and Standards were inserted in the sample  stream sent to SGS and subsequent analysis shows the standards to fall  within analytically acceptable (5% standard deviation) limits.

    Qualified Person

    The Company's Qualified Person is Mr. Peter Chadwick, M.Sc. University  of Cape Town (1993), a registered scientist with SACNASP (Reg. No. 400082/ 93) and a Fellow of the Society of Economic Geologists. Mr. Chadwick  personally undertook the re-evaluation of the Golden Horseshoe Reef in  addition to the geological logging and sampling of the drill core.

    Respectfully Submitted,

    "James E. Sinclair"

    James E. Sinclair

    Chairman and Chief Executive Officer

    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.

ots Originaltext: Tanzanian Royalty Exploration Corporation
Im Internet recherchierbar: http://www.presseportal.ch

Contact:
For further information: Investor Relations, at +1-800-811-3855;
Visit our website: www.TanzanianRoyaltyExploration.com



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