Tanzania Minerals Corp. announces new director and extends investor relations provider contract

VANCOUVER, Oct. 11, 2013 /CNW/ - Tanzania Minerals Corp. (the "Company"), (TSXV: TZM) (FRANKFURT: TM0.F) is pleased to announce that Vice-President of Business Development Mr Ryan Walchuck has been added to the Board of Directors and Audit Committee. Mr Kal Matharu, President and CEO, will be stepping down from the Audit Committee.

Mr Walchuck is a Chartered Accountant (CA) and Chartered Business Valuator (CBV). Prior to joining Tanzania Minerals in May 2012 (Company news release May 1st, 2012), Mr Walchuck was part of BHP Billiton's Strategy and Development team in their Diamonds & Specialty Products division. At BHP Billiton he assisted with the development of a potash mineral rights acquisition strategy, was part of the PotashCorp acquisition team, was the Acting Head of Finance for the EKATI diamond mine for approximately 5 months and assisted with the division's corporate strategy and planning for presentation to the executive leadership. Before joining BHP Billiton, Mr Walchuck was a Manager in Deloitte's Valuation practice where he specialized in advising mid-tier to junior mining companies with accounting, corporate finance, merger and valuation solutions. Prior to joining Deloitte, Mr Walchuck was with PricewaterhouseCoopers where he obtained his CA designation.

President Kal Matharu comments, "Ryan's extensive knowledge of finance and the mining business will definitely complement Tanzania's Board of Directors. We are very excited to be adding Ryan to the Board and we look forward to continuing to work with him to advance the Company and build shareholder value."

Additionally, and effective October 1st, 2013, current investor relations provider Trident Financial (Company news release March 1, 2013) has had its contract extended for six months at a rate of $3500 per month.

Additional information on Tanzania Minerals Corp., including technical reports and other public documents are available on SEDAR at www.sedar.com or on the Company's website at www.tanzaniaco.com.

Tanzania Minerals Corp. is an emerging junior exploration company trading on the TSX Venture Exchange. The company has an extensive portfolio of projects in Tanzania.

On behalf of the Board of Directors of Tanzania Minerals Corp.

"Kal Matharu"

Kal Matharu, President & CEO

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, "forward looking statements". Forward looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The Company cautions readers that forward looking statements, including without limitation those relating to the Company's future operations and business prospects are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward looking statements.

SOURCE: Tanzania Minerals Corp

For further information:

Tanzania Minerals Corp.
Kal Matharu
President and CEO
Tel: (204) 942-3191
Fax: (204) 944-0513

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