Tanzanian Royalty Comments on GAAP Reporting by Canadian Exploration Companies on AMEX

    Trade Symbol:
    TSX: TNX
    AMEX:   TRE

    VANCOUVER, June 29 /CNW/ - The Company has become aware of recent media
commentary concerning financial reporting on the American Stock Exchange
(AMEX) by Canadian exploration companies under Generally Accepted Accounting
Principles (GAAP).
    In terms of the Company's filings on the AMEX, Tanzanian Royalty is no
different than any other Canadian company. By filing our statements under
Canadian and American GAAP principles, Tanzanian Royalty provides shareholders
with an opportunity to evaluate the Company's financial statements employing
both standards.
    Under US Securities and Exchange Commission (SEC) rules, Tanzanian
Royalty is classified as a foreign entity because it was incorporated in
Canada. In fact, for most of its corporate history Tanzanian Royalty has been
listed exclusively on a Canadian exchange, namely the TSX, which is heavily
weighted to natural resource listings.
    Similar to other companies within its peer group, Tanzanian Royalty
operates in a somewhat unique business sector which is not always readily
understood by North American investment analysts. That being said, the
marketplace is aware that the Company and its exploration partners are
actively exploring for commodities that are increasingly in short supply
throughout the world. It is the opinion of management that this fact alone is
the principal driver of its performance in the marketplace.

    Respectfully Submitted,

    "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:

For further information: Investor Relations at 1-800-811-3855; Visit our
website: www.TanzanianRoyaltyExploration.com

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