Tanzanian Royalty Exploration Corporation

Tanzanian Royalty Chairman and CEO Agrees to New CDN$3 Million Private Placement Subscription Agreement

    Vancouver, Canada (ots/PRNewswire) - Tanzanian Royalty Exploration Corporation is pleased to report that,  following the completion in January, 2007 of the 8th tranche of the current  Private Placement Subscription Agreement dated  January 13, 2005 (the "  Current Agreement"), James E. Sinclair, Chairman and CEO of the Company,  has confirmed his intention to continue his regular investments in Tanzanian Royalty by entering into a new Private Placement Subscription  Agreement with the Company (the "New Agreement") under which he will  subscribe for common shares of the Company for an aggregate CDN$3,000,000.  Under the New Agreement, Mr. Sinclair has agreed to subscribe for eight (8)  quarterly tranches of CDN$375,000 each, commencing February 1, 2007.

    The pricing of each quarterly tranche will be based on the weighted  average trading price of the Company's common shares for the last five  consecutive trading days of each quarterly period. Consistent with the  Current Agreement, no warrants, options or other rights are to be issued or  granted, the placement common shares will be subject to certain mandated  hold periods and resale restrictions and the certificates representing such  shares will be legended accordingly.

    The new private placement and each of the quarterly tranches will be  subject to regulatory and stock exchange approval.

    According to Mr. Sinclair, "My ongoing market-priced investments in  Tanzanian Royalty will ensure the company remains adequately financed while  pursuing its objective of becoming one of the world's premium royalty  companies with investment income from gold and other mineral producing  assets in the Republic of Tanzania."

    Tanzanian Royalty Exploration is a unique, publicly-traded, financial  minerals exploration company whose business strategy is to develop royalty  income under partnership arrangements from its world class gold, diamond  and nickel assets in the Lake Victoria Greenstone and Kabanga/Kagera Nickel  Belts of Tanzania.

    Respectfully Submitted,

    "James E. Sinclair"

    Chairman and Chief Executive Officer

    Visit our website: www.TanzanianRoyaltyExploration.com

    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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