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Tanzanian Royalty Announces Awarding Of Contract For RC Drilling Program At Buckreef Gold Project In Tanzania

Tanzanian Royalty is pleased to announce that Aqua Drill Tech (U) Ltd. has been awarded a contract to complete 7,200 metres of Reverse Circulation (RC) drilling at the Company’s Buckreef Gold Project in the Lake Victoria Goldfields of Tanzania.

Aqua Drill will utilize a SuperRock 1000 with a high pressure Sullair 900 cfm/350 psi trailer-mounted compressor for the drill program which is expected to begin in early March. The objective of the RC drilling program is to define, delineate and upgrade resources at Buckreef in support of an updated 43-101 compliant resource report.

“We are pulling out all the stops to build on our recent successes at Buckreef,” said Joseph K. Kahama, Chairman and Chief Operating Officer (Tanzania), who also noted that “The Company’s ability to expand resources along strike and at depth can only enhance the long term viability of Buckreef and the benefits accruing to all stakeholders including the people of Tanzania with whom we have entered into an historic partnership.”

The main focus of this RC drilling program is to confirm the significant gold mineralization encountered in four recent diamond drill holes in the Eastern Porphyry prospect. (See January 10, 2012 News Release). These diamond drill holes were completed in December 2011 and were designed to establish and understand the structure controlling mineralization at Eastern porphyry target. The diamond drilling program was also designed to investigate the down-dip extension of previously confirmed high grade mineralization to a vertical depth of 200m which is expected to be the final depth of the open pit at commercial production and the lateral extension of footwall and hanging wall zones of the Buckreef deposit.

The second phase of the RC drill program will include infill drilling and step-out drilling to test the strike extension of the Buckreef North and the NE extension of the Tembo mineralization.

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