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Tanzanian Royalty Exploration Corporation

Tanzanian Royalty to Begin Major Drill Program at Kigosi

Vancouver, Canada, November 16 (ots/PRNewswire)

Tanzanian
Royalty Exploration is pleased to announce that it has  started a
detailed exploration program on its Kigosi Property which  includes
the following elements:
  • A detailed assessment of the AngloAshanti database (complete).
  • Selected IP traverses over the artisanal workings at Luhwaika and Igunda.
  • A 5,000 metre Reverse Circulation (RC) drill program scheduled to commence this month.
According to Tanzanian Royalty Chairman and CEO Jim Sinclair,
"We've  been eager to determine the full potential of Kigosi for some
time now and  we are prepared to commit whatever resources are needed
to allow us to  achieve that goal."
The area of interest comprises two artisanal mining sites that are
parallel to each other and are separated by a 2.5 kilometre wide
swath of  mbuga (overburden). The Luhwaika workings are the largest
in the area with  sporadic artisanal activity spread over a distance
of approximately 1,200  metres.
Within this area, mineralization is controlled by a gold-rich,
brittle  ductile shear zone that has developed near the contact
between a large  granite intrusive and mafic greenstones. The strike
of this high strain  zone is 320 degrees, which is similar to the
Bulyanhulu deposit, while the  dip is moderate to the southwest.
From the productive shallow artisanal work shafts, it appears that
at  least two sub-parallel zones exist. This is confirmed by the
AngloAshanti  soils data that extend the Luhwaika mineralization to
over 3.3 kilometres  along strike. The soil data indicate a strong
relationship between the  granite contact and the gold
mineralization. Grab samples at Luhwaika have  returned values up to
194 g/t.
The gold occurs within a stockwork of shear-hosted quartz veins
and  within sheared granite. To date, two IP traverses have been
completed over  the Luhwaika showings by the Company's in-house
geophysical department. One  traverse is in the southeast and the
other 1.6 kilometres to the northwest.  Both these traverses display
moderate to strong chargabilities and  resistivities over the
artisanal zones. More sub-parallel IP anomalies  could represent
additional mineralization that has not yet been uncovered  by the
artisanals. The zones appear thick and in some cases may be up to 50
metres wide.
The present strike of the Igunda workings is approximately 300
metres.  These workings occur in a thin (one meter) quartz vein
within mafic  volcanics and have a similar strike to the Luhwaika
workings but a steeper  almost vertical dip. Grab samples from these
workings have returned values  up to 50.32 g/t. One IP line has been
completed across these workings and  results indicate that there may
be an additional zone a few hundred meters  to the southwest.
A fourth IP line has been completed across the middle of the mbuga
that separates the Luhwaika and Igunda occurrences. A weak anomaly
occurs  along strike of the Luhwaika-Igunda trend, and stronger
anomalies occur to  the northeast and southwest.
Aeromagnetic interpretations conducted by AngloAshanti suggest
that  the granite - greenstone contact occurs a few hundred meters
south of the  Luhwaika-Igunda trend in this particular area. This has
been suggested by  the IP which needs to be extended to confirm this
hypothesis. No soil  geochem has been carried out in this area as the
mbuga soils form a  transported blanket over the mineralization.
The IP is ongoing and due to the large strike of the system, IP
lines  are being planned across the highest soil anomaly areas.
This first phase drilling will test the main Luhwaika and Igunda
workings along three to four traverse lines but will not target
additional  IP targets. Shallow drilling (50 metre holes) along toe
and collar RC  fences has been designed to test across the entire
length of both workings.  An all-weather road is currently being
constructed for drill and support  vehicle accessibility. Drilling is
expected to begin within the week.
The total strike length of the Luhwaika-Igunda shear system is
currently 4.7 kilometres and by including the Luhwaika north
extension this  system is up to 9.0 kilometres long.
Tanzanian Royalty President, John Deane comments: "This is a very
exciting time for the Company. These workings have been known for
some time  but our ability to evaluate these highly prospective
targets has been  slowed by a lengthy permitting process which
understandably is designed to  preserve the environmental integrity
of the site."
"The Company intends to go in hard and fast. The system has more
than  adequate strike length, multiple sub-parallel zones, and
appears to have  excellent grade potential as well. This first phase
of drilling will  determine if it has the continuity to generate
resources of economic  interest."
Qualified Person
The Company's Qualified Person is Mr. John Deane, the President of
Tanzanian Royalty Exploration Corporation Limited. He has an M.Sc.
from the  University of Cape Town (1993) and is a registered
scientist with SACNASP  (Reg. No.400005/05). Mr. Deane has reviewed
and validated the AngloAshanti  geochemical and geological databases
for this particular area and has made  the necessary corrections.
Analysis
The AngloAshanti soils were submitted to SGS Mwanza for Fire Assay
analysis.
Grab and rock chip samples reported in this release were taken by
Mr. Deane and Dr. Jim Oliver. The majority of these samples were
taken from  artisanal muck piles found on the top of production
shafts and pits, and  this data cannot be used for any resource
evaluation. Fire assay with flame  AAS finish on these samples was
conducted by Humac Laboratory in Mwanza,  Tanzania.
Respectfully Submitted,
"James E. Sinclair"
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.

Contact:

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

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