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Tanzanian Royalty Exploration Corporation

Tanzanian Royalty Reports Encouraging Gold Intersections for the Remaining Three Diamond Drill Holes at the Itetemia Project in Tanzania

Vancouver, Canada (ots/PRNewswire)

Tanzanian Royalty Exploration
Corporation is pleased to announce that  assay results have been
received from the remaining three diamond drill  holes of the four
hole program, recently completed 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. The objective of the four hole program was to
determine if the high  grade pay shoot has continuity up to 700
metres down plunge. The results of  the first, shallowest diamond
hole are reported in an earlier press release on July 5, 2006.
     Assay results for GHDD-030, GHDD-031 and GHDD-032 include the following:
     Golden Horseshoe Reef
     Hole No.      From        To                       Gold
                 (metres)    (metres)   Intercept   (grams/tonne)   Including
     GHDD-030     280.00       286.00      6.00        2.66
     GDHH-031     406.00       416.00     10.00        6.73        4.00m (at)
                                                                   11.07 g/t
     GHDD-032     604.00       605.00      1.00        1.68
                  609.92       610.73      0.81        1.45
The true width of these intercepts is estimated to be 50% of the
down-hole intersections.
GHDD-030 intersected the main mineralized zone some 270 metres
below  surface. It is characterized by disseminated to massive
sulphide  mineralization, predominantly pyrite with lesser
pyrrhotite, in a  silicified dacitic host. The mineralized zone has
been both diluted and  disrupted by a 9 metre thick pegmatite dyke,
which has been subsequently  modeled to be flat-dipping. The combined
intersect is 2.66 g/t Au over a true width of 3 metres.
GHDD-031 intersected the GHR pay shoot at a vertical depth of
almost  400 metres below surface, yielding an impressive 6.73 g/t
over a true  thickness of 5 metres, and includes a high-grade
component of 11.07 g/t over a true thickness of 2 metres.
GHDD-032, intersected the projected GHR zone at a vertical depth
of  550 metres below surface. The main pay shoot was not intersected,
and the  best intersects are 1.68 and 1.45 g/t Au over sub-metre
intersect widths.  The zone itself has also thinned to a true width
of 3 metres.  Measurement  of the bedding core angles for all four
holes shows a consistent 30 degrees  in the top three holes, with the
deeper hole GHDD-032 flattening to 40  degrees. This suggests a
distinct flattening of the GHR at depth, and it is  quite likely that
this drill hole has undershot the pay shoot.
As reported in the July 5, 2006 press release, the steeply-dipping
to  near-vertical mineralized zone, as intersected in the first drill
hole ( GHDD-029), consists of two separate but high-grade ore zones,
with a low- grade middling. The results presented here suggest that
these two separate  zones of mineralization might merge into a single
mineralized zone at depth.
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 established."
This drill program has succeeded in confirming the existence of a
continuous  high-grade pay shoot at GHR down to a depth of 450
metres,  having a total down plunge distance of 550 metres, bar the
effects of the pegmatite dyke in GHDD-030.
"We remain highly excited about the potential of GHR, and the
results  of this drill program will help focus future diamond
drilling, and add  value to the project in the coming months," said
the Company's president, John Deane.
Future Plans
The Company plans on RC drilling the gaps in the top 150 metres of
the  GHR to obtain the true strike, estimated at 300 metres, and
grade of the  deposit so a decision can be made on the deeper
drilling.
Other Projects
Tanzanian Royalty is continuing with a Reverse Circulation (RC)
drilling program on several kimberlite targets. To date one new
kimberlite  has been intersected on its Nyamigunga PL bringing the
total number of  kimberlites on the license to eight. Composite 25 kg
samples from the  larger pipes will be submitted for micro-diamond
analysis next month.  Furthermore, a ten hole diamond drill program
has recently commenced along  the eastern flanks of Kisunge Hill on
the Luhala Project. This is aimed at  testing the down-dip extension
of high-grade gold mineralization, proven by earlier in-house RC
drilling.
Analysis
Fire assay with flame AAS finish was conducted by Humac
Laboratories  in Mwanza, Tanzania. Standards were inserted in the
sample stream sent to  Humac and subsequent analysis shows the
standards to fall within  analytically acceptable (5% standard
deviation) limits. Duplicates of pulps  and rejects have been
received and fall within the 95% correlation coefficient.
Qualified Person
The Company's Qualified Person is Mr. Peter Chadwick, M.Sc.
University  of Cape Town, a registered scientist with SACNASP (Reg.
No. 400082/93)  since 1993, 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.

Contact:

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

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