Tanzanian Royalty Reports Drilling Continues To Extend Higher Grades At Buckreef Gold Project 6.0 Metres @ 4.34 G/t Au, Including 2.05 Metres @ 10.11 G/t Au; And 22.57 Metres @ 2.7 G/t Au, Including 4.3 Metres @ 7.41 G/t Au

Following the positive assay results at the Buckreef Gold Project announced in the Company’s news releases dated August 3 rd and 6 th 2012, Tanzanian Royalty Exploration Corporation is pleased to announce further successful intersections from its current deep drill program at the Buckreef Gold Project in Tanzania confirming continuity of the higher-grade gold mineralization.

The results from the ongoing deep extension of Main zone and North zone continue to provide encouragement for this project. These higher grade zones are encouraging as the Company continues its exploration of the potential for Buckreef to add to its future growth profile. Significant intercepts reported include:
  • BMDD180 which intersected 6.0m at 3.62g/t gold from 216m, including 4.0m at 5.09g/t gold from 217 and a second wide zone of 22.57m at 2.71g/t gold from 243m, including 4.2m at 7.41g/t gold from 254m.
  • Drill hole BMDD173 returned an interval of 3 metres grading 1.73g/t Au from 56m and a second zone of 2 metres at 1.89g/t Au from 123m.
  • Drill hole BMDD175 returned an interval of 2.24 metres grading 1.54g/t Au from 387.76m and a second zone of 0.68 metres at 2.38g/t Au.
  • Drill hole BMDD177 returned an interval of 6 metres grading 4.34g/t Au from 398m, including 2.05 metres at 10.11g/t Au from 398.95m.
  • Drill hole BMDD178 returned an interval of 2 metres grading 2.27g/t Au, from 119m.
  • Drill hole BMDD182 returned an interval of 9 metres grading 0.95g/t Au, including 2 metres at 1.93g/t Au from 395m and another zone of 2m at 2.41g/t Au, from 410m.

The intersection reported here is a core down - holes length and may not represent true width but the true width is estimated to be 50 – 60%.

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