News Release

    TSX: TNX
    AMEX:   TRE

    VANCOUVER, March 30 /CNW/ - As a result of a review by the British
Columbia Securities Commission, Tanzanian Royalty Exploration Corporation (the
"Company") is issuing the following press release to clarify our disclosure.
    In disclosure previously appearing on the Company's website, an estimate
of 300,000 oz of gold at Kisunge was given, with a 1 g/t cut-off. The
disclosed resource should have been identified as an historical estimate,
which the Company first disclosed on July 7, 2000 (Giroux, 2000) of
9,300,000 tonnes, grading 1.0 g/t, using a 0.5 g/t gold cut-off, yielding a
gross gold content of 300,000 oz. However, this historical estimate was not
confirmed by the Company's subsequent technical report (Oliver, 2003), which
stated that no reliable resource estimate compliant with the current NI 43-101
requirements for any of the principal mineralized zones at Kisunge may be
calculated, based on the available data. The Company cautions therefore that
because the historical Giroux (2000) resource estimate is not compliant with
current NI 43-101 requirements, it should not be relied upon.
    The Company indicated in our April 19, 2006 news release that we were
confident that further drilling on our Luhala property, Tanzania, would
enhance and expand the "mineral potential that we have already identified".
The "mineral potential" referred to was not a current resource estimate, nor
was it a reference to a potential mineral deposit, and was not meant to be
interpreted as such. Instead, we were referring to the encouraging mineral
exploration results to April 2006 from the prior drilling work and exploration
programs, which have all been previously released and are a matter of public
record. There is no current NI 43-101 compliant mineral resource estimate for
the Luhala property.
    In disclosure previously appearing on the Company's website, current
estimates of gold resources at Kisunge, as well as at Kisunge Central were
made. Neither of these references to mineral resources were based on a
technical report compliant with NI 43-101 and, accordingly, should not be
relied upon.
    A current estimate of gold resources at Itetemia (Savage, 2005) was also
previously made on the Company's website. The Savage estimate was an internal
estimate prepared by the Company, and is not supported by a NI 43-101
compliant technical report. Accordingly, the estimate should not be relied
    The Company has supported the following current mineral resource estimate
on the GHR Area of the Itetemia property, based on a NI 43-101 compliant
report filed in 2003 (Michaud, SRK):

    GHR Area     Date     Status    Resource    Cutoff    Tonnes      g/t Au
    Estimator                       Category     Grade                 grade
    SRK          2001     Current   Inferred     2 g/t   511,000        7.09

    As both the Luhala and Itetemia properties were recently optioned to
Sloane Developments Ltd. in January 2007, the Company now has no plans to
produce a current NI 43-101 compliant technical report on the Itetemia
property, which will of course be the responsibility of the new operator.
However, the Company does intend to update the 2003 Oliver report on the
Luhala and Lunguya properties.
    In disclosure previously appearing on the Company's website, a current
diamond resource estimate at Nyamigunga was given. This estimate was also not
based on a technical report compliant with NI 43-101 and, accordingly, should
not be relied upon.

    This news release has been reviewed and verified by John Deane, President
of Tanzanian Royalty Exploration Corporation Limited, who is the Company's
qualified person.

    Respectfully Submitted,

    "James 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

    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", "inferred", and "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

    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:

For further information: Investor Relations at 1-800-811-3855; Visit our

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