VANCOUVER, Dec. 6 /CNW/ - Tanzanian Royalty is pleased to announce that
The Scowcroft Group has agreed to assist the Company in regard to identifying
and negotiating partnership arrangements with qualified third parties for its
gold and base metal exploration assets in the Republic of Tanzania.
The Scowcroft Group is managed directly by Brent Scowcroft, former
National Security Advisor to President George H.W. Bush and Gerald Ford. The
company's principals bring extensive experience in business and government,
coupled with extraordinary regional expertise in Asia, Latin America, Africa,
Western and Eastern Europe, Russia, and the Middle East. Additional
information on the Scowcroft Group and its principals is available on the
company's website at: http://www.scowcroft.com.
According to Tanzanian Royalty Chairman and CEO, James E. Sinclair, the
Scowcroft Group will provide guidance and research assistance relating to
negotiations that have been taking place with one or more parties. In
addition, Scowcroft will assist in searching out Asian, Middle Eastern and
other companies that are interested in the gold and nickel production
potential of Tanzania.
Scowcroft has also agreed to assist Tanzanian Royalty in determining
suitable financing options for the exploration and development of its Kigosi
Project which recently returned some of the best gold values ever reported
from the Lake Victoria Goldfields of Tanzania.
"We are delighted that an advisory group of Scowcroft's caliber has
agreed to take on this assignment," Sinclair said. "At the same time, we
recognize that they are uniquely qualified to advise the Company with respect
to the cultural nuances that are so important in concluding mutually
beneficial partnerships with corporate entities from regions that are actively
seeking to develop new sources of supply for key industrial commodities."
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
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.
Certain information presented in this release may constitute
"forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995. Such forward-looking statements are based on
numerous assumptions, and involve known and unknown risks, uncertainties and
other factors, including risks inherent in mineral exploration and
development, which may cause the actual results, performance, or achievements
of the Company to be materially different from any projected future results,
performance, or achievements expressed or implied by such forward-looking
statements. Investors are referred to our description of the risk factors
affecting the Company, as contained in our Form 20-F, File No. 0-50634, for a
more information concerning these risks, uncertainties, and other factors.
For further information:
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