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.

@@start.t1@@        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@@end@@

    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.


    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.

ots Originaltext: Tanzanian Royalty Exploration Corporation
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