Tanzanian Royalty Receives Assay Results From MDN for Mnezeki Project in Tanzania

    Trade Symbol:
    TSX: TNX
    AMEX:   TRE

    VANCOUVER, Aug. 2 /CNW/ - Tanzanian Royalty Exploration Corporation
("Tanzanian Royalty") is pleased to announce that MDN Inc. ("MDN") has
released further assay results from its Mnezeki Project in the Tulawaka area
of Tanzania which is held under option from Tanzanian Royalty.
    A total of 1,736 meters of RC drilling and 1,252 meters of RAB drilling
have been completed on the Mnezeki Project. The table below shows certain
encouraging results in addition to re-analysis (with asterisks) of several
holes completed in 2006 which had produced low grade results.

                                  From          To         Length      Grade
    Hole No                     (Meters)     (Meters)     (Meters)   g/t gold
    NPRAB-26                       37           45            8         2.41
                                   50           51            1         1.97
    NPRAB-29                        6            7            1         2.09
    MKRC-06(*)                     14           15            1         1.04
    MKRC-09(*)                      5            7            2         8.10
    MKRC-13(*)                     51           52            1         1.73
    MKRC-20(*)                     43           44            1         2.40
    MKRC-26                        51           52            1         1.56
    MKRAB-08(*)                    23           24            1         1.93
                  (*) Re-analyzed drilling results from 2006

    Because of the nature of RC and RAB drilling it is difficult to
accurately determine the true width and orientation of the mineralized
intercepts in the preceding table.
    Drilling was carried out on two adjacent licenses located on the Mnezeki
project which covers 109.8 km2 and is located approximately 20 km east of the
Tulawaka Gold Mine. Although the results remain preliminary, they show the
presence of gold deposits of potential significance, says MDN.
    All samples were analyzed by fire assay at the SGS laboratories in
Tanzania, certified under international standards. A rigorous program of
analytical grade verification implemented by MDN included 12% control samples.
Drilling was carried out under the management of geologist Laurent Millo, and
supervised by geologist Dominique Fournier, Ph.D., who acted as a qualified
person in accordance with NI 43-101.

    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", 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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