VANCOUVER, Aug. 5, 2015 /CNW/ - Tanzania Minerals Corp. (the "Company" or "TZM") (TSX-V: TZM.V) (FRANKFURT: TM0.F) is providing an update with respect to its transaction with Twigg Gold Ltd. ("Twigg").
Twigg has provided formal notice that it will no longer proceed with the transaction where it would sell its Igurubi and Msasa assets to TZM.
The agreement (announced October 21, 2014, refer to press releases dated October 21, 2014, November 10, 2014, and March 11, 2015) is terminated effective immediately.
The Company will continue to seek new projects to support its Tanzanian portfolio of assets.
About Tanzania Minerals Corp.
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. 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.
Additional information on Tanzania Minerals Corp., including technical reports and other public documents is available on SEDAR at www.sedar.com or on the Company's website at www.tanzaniaco.com.
On behalf of the Board of Directors of Tanzania Minerals Corp.
James Walchuck, Chairman
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, Tel: (204) 421-1999, Fax: (604) 669-3877, www.tanzaniaco.com