Tanzanian Royalty Exploration Corporation

Tanzanian President Jacaya Kikwete Speaks on the Tanzanian Minerals Industry In Pretoria, South Africa

    Vancouver, Canada (ots/PRNewswire) - Tanzanian President Jacaya Kikwete played the leading role in the  Government of Tanzania as Minister of Energy and Minerals in the early  1990s in opening his country to foreign direct investment in the mining  sector and in encouraging international companies to make long-term  investment commitments to his country. That initiative has attracted many companies and yielded significant benefits for them and the people of Tanzania. But, as the President has indicated in his latest speech, it is  important for companies to abide by all contracts undertaken and to adhere  to the laws of Tanzania. This includes, of course, the payment of all  appropriate taxes and the pursuit of all legal and ethical actions that  combine to demonstrate good corporate citizenship.

    Our company supports the President's stand. We see it as a fundamental  pillar of our governance approaches that we demonstrate a solid long-term  commitment to the peoples of the countries in which we operate and that  this comprehensively include adherence to all of their laws and fiscal  regulations. We are proud of our relationship with the peoples of Tanzania  and of the excellent ties that have been forged with the government that  reflect our commitment to the highest standards of business ethics.

    We interpret the President's most recent comments as being supportive  of international investment and the activities of mineral exploration and  production companies that act as we do in full accord with the laws of  Tanzania. We believe that companies that take this approach will benefit in  Tanzania.

    President Kikwete's remarks under the headline "Fairness in Mining Guaranteed -JK" can be reviewed on the web at: http://www.ippmedia.com/ipp/guardian/2006/04/08/63820.html

    Respectfully submitted,

    James E. Sinclair, Chairman & CEO

    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
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