VANCOUVER, Dec. 7 /CNW/ - Tanzanian Royalty wishes to announce that it
has realigned its management structure in Tanzania to facilitate an
aggressive, multi-phased exploration program on its Kigosi Gold Project in
The Company's President, John Deane, will now focus his exploration
talents exclusively on Kigosi which recently returned the highest grade gold
values ever reported from the property. (See November 26, 2007 News Release).
According to Tanzanian Royalty Chairman and CEO, Jim Sinclair, "Deane's
in-depth knowledge of Kigosi and its enormous geological potential made him
the only choice as Project Manager."
"Not only will he bring continuity to this world class exploration
project in terms of management and geological decision making, he will
maintain his critical role as the Company's president with oversight
responsibilities for the remainder of our mineral assets in Tanzania."
Coincident with the decision to assign Mr. Deane exclusively to the
Kigosi Project, Tanzanian Royalty has appointed Patrick Charles as the
Company's new Exploration Manager for Tanzania commencing January, 2008. Mr.
Charles holds an M.Sc. in geology from the University of Paris and has
completed a Business Management Course at the University of Stellenbosch in
He has over 20 years work experience in the exploration industry in
various African countries including the Central African Republic, Mozambique,
Namibia, Niger, Burkina Faso, South Africa and Ghana. During 2000 and 2001 he
was the Assistant to the Senior Vice President Exploration of Anglo American
Corporation, Acquisition Division.
"I had the opportunity to work with Patrick early on in my career at the
Ondundu Gold Deposit in Central Namibia and know him as a hard working,
dedicated geologist whose business management skills will bring much needed
support to the management of our increasingly busy exploration office in
Mwanza, Tanzania," said Mr. Deane.
"With 154 prospecting licenses in our Tanzanian mineral portfolio - and
what will likely be an open-ended exploration budget for Kigosi in 2008 - both
Mr. Deane and Mr. Charles will be working closely over the next few months to
ensure a smooth transition," added Mr. Sinclair.
"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
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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