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Tanzanian Royalty Exploration Corporation

Tanzanian Royalty Reports Impressive Gold Values Over Substantial Widths at Itetemia Project in Tanzania

Vancouver, Canada (ots/PRNewswire)

Tanzanian Royalty Exploration
Corporation is pleased to announce that  assay results have been
received from the first of four diamond drill holes  currently being
drilled 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.
    Assay results for GHDD-029 in the GHR include the following:
    Golden Horseshoe Reef
    Hole No.    From       To     Intercept      Gold        Including
              (Metres)  (Metres)  (Metres)   (grams/tonne)
    GHDD-029   194.60    215.18     20.58        3.69       2.5m (at) 6.13g/t
                                                            4.0m (at) 6.75g/t
The true width of these intercepts is estimated to be 50% of the
down  hole intersections.
The steeply-dipping to near-vertical mineralized zone consists of
a  higher-grade hanging wall (2.50 m (at) 6.13 g/t) and a similar
grading  footwall (4.00 m (at) 6.75 g/t), with a 13 metre intervening
section  averaging 2.33 g/t. Duplicate results are still pending.
The mineralization is typically characterized by fine-to-medium-
grained sulphides (predominantly pyrite and pyrrhotite) and increased
silica and carbonate alteration.
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 fully established."
Since the return of the Itetemia prospecting licenses from Barrick
East Africa Limited in 2004, no further exploration work had taken
place.  As part of the Company's re-evaluation of this important
asset, historic  drill hole data was assembled and examined in
considerable detail.
Zones of anomalous gold mineralization were identified from the
data  and grade composites were re-calculated using a minimum cutoff
grade of 6 g /t and a minimum intersect thickness of one metre. Bulk
gold content for  each composite was subsequently calculated and
plotted onto a longitudinal  section of the GHR. A spatial
distribution analysis of the bulk gold  content was then performed,
focusing on the higher grade composites exceeding 31 gm/t.
This procedure helped recognize a well-defined, higher grade "pay
shoot" with a pitch of 55-60 degrees to the west. A search envelope
was  subsequently defined that emphasized the pay shoot and allowed
for the bulk  gold content data to be contoured on a longitudinal
section. (See  longitudinal section attached).
The latest phase of drilling at Itetemia is targeting specific
depths  or pierce points along the modeled pay shoot. Three holes
have been  completed to date (GHDD-029, GHDD-030 and GHDD-031) and
the fourth (GHDD- 032) is nearing target depth.
"The first three drill holes completed thus far succeeded in
intersecting the GHR zone within 50 metres of the planned pierce
points and  within the 31gm/t envelope," said the Company's
president, John Deane.
For longitudinal section please see
http://files.newswire.ca/508/tnx05july06.doc
Future Plans
Should the remaining three drill holes confirm the existence of
the  modeled pay shoot, an infill diamond drilling program will be
considered as  a means of providing a greater constraint on the
assumed pay shoot, along  with a higher drill hole density for
resource estimation purposes.
Given the present drill hole density, the precise strike extent of
this higher-grade pay shoot remains to be clearly defined at depth.
However , higher grade values near surface have been established by
drilling for at  least 250 metes along strike, Deane noted.
Other Projects
In addition to the exploration activity at Itetemia, Tanzanian
Royalty  is undertaking a Reverse Circulation (RC) drilling program
on several  kimberlite targets on its 853 square kilometers Mwadui
Project. The world  famous Mwadui diamond mine is centrally located
within the project area.
Analysis
Fire assay with flame AAS finish was conducted by SGS Laboratories
in  Mwanza, Tanzania.  Duplicates and Standards were inserted in the
sample  stream sent to SGS and subsequent analysis shows the
standards to fall  within analytically acceptable (5% standard
deviation) limits.
Qualified Person
The Company's Qualified Person is Mr. Peter Chadwick, M.Sc.
University  of Cape Town (1993), a registered scientist with SACNASP
(Reg. No. 400082/ 93) 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: Investor Relations, at +1-800-811-3855;
Visit our website: www.TanzanianRoyaltyExploration.com

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