Tanzanian Royalty Announces High Grade Assay Results From Drilling Program at Buckreef Project in Lake Victoria Goldfields of Tanzania

Tanzanian Royalty Exploration Corporation is pleased to report
additional high grade assay results from the ongoing reverse circulation
and diamond drilling program at its Buckreef Gold Project in the Lake
Victoria Goldfields of Tanzania.

Diamond drill hole BMDD108 returned 16m grading 2.23 g/t gold from 149m,
including a high grade section of 2.0m averaging 7.03 g/t from 163m. In
addition, the hole contained 5.0m grading 1.04 g/t from 170m, including
1.0m @ 3.86 g/t from 170m in sheared and altered felsic porphyry.

Diamond drill hole BMDD109 included 35.35m grading 2.75g/t gold from
131.65m, including 6.35m @ 5.75 g/t from 131.65m, 4.7m @ 4.33 g/t from
158.3m; 1.0m @ 3.91 g/t from 104m; and 2.0 m @ 0.55 g/t from 212m.

Hole BMDD110 was drilled in the Hanging Wall Zone of the Main Buckreef
deposit and included 4.0m grading 1.08 g/t from 16m, including 1.0m @
3.16g/t from 17m in sheared dolerite with sulphides. In addition, the
hole reported 2.0m @ 1.09 g/t from 107m.

Hole BMDD110 also targeted the down dip potential in theMain
Zone, returning 30m grading 2.66 g/t gold at 145m, including 2.0m @
6.5g/t from 169m, including 5.0m @ 4.06g/t from 153m. The deepest
segment of this hole returned 2.0m @ 1.77g/t from 197m in sheared,
altered dolerite intercalated with felsic porphyry and milky white late
quartz veins.

Several deep holes were drilled in the vertical to sub-vertical Buckreef
Main ore shoot by previous operators, some of which extended up to 400m
down-dip in depth. Most of these holes serve to define existing
resources in the Inferred resource category. The currently planned down
dip test holes are intended to upgrade some of the Inferred resource at
Buckreef to the Indicated category.

Approximately 10 more holes remain to be drilled at Buckreef Main to
test the zone′s down dip potential which ranges in depth from 200m to
400m. The zone appears to increase in thickness at depth, with high
grade gold values reported in several intercepts. Holes BMDD109 and BMDD
110 are specifically intended to test this depth potential. The holes
above are estimated to be approximately 60% of true width.

The drilling on the Buckreef Footwall and Hanging Wall zones is expected
to increase pit wall limits and increase resources all of which will be
inputted into the Definitive Feasibility Study.

The main mineralized shear zone at Buckreef includes the Buckreef Main
Zone, Buckreef North Zone and Buckreef South Zone all of which are
constrained between two cross-cutting faults. The Buckreef Footwall and
Hanging Wall zones are developed on either side of the Buckreef Main
Zone as shear zone fault splays. The near-surface intercepts on the
Hanging Wall and Footwall Zones are developed in the oxide zone and
within quartz-carbonate-pyrite altered zones that offer the best
opportunity to improve the size of the proposed open pit.

'The latest results from the ongoing drill program suggest that the FW
and HW zones could significantly increase the existing Buckreef resource
and the potential for further success,? says Joseph K. Kahama, Chairman
and Chief Operating Officer (Tanzania). 'The deep mining potential will
be established from the down dip drilling on the Main Zone which is also
aimed at upgrading the current Inferred resource at Buckreef.?

'We are greatly encouraged by the high grade values we are seeing in the
holes which in most cases are better than anything drilled by previous
operators,? he adds.

The geology within these HW and FW mineralised zones is mainly sheared
basalt, sheared dolerites or sheared felsic porphyry accompanied with
moderate to strong quartz-carbonate-pyrite alterations. In general, the
degree of alteration dictates the grade of the mineralization.

Analysis

Samples from ?RC and diamond ?drill-holes were submitted to SGS Lab in
Mwanza for 50g fire assay (FA) with AAS finish (0.01ppm LLD). ?Duplicates
and Standards were inserted in the sample stream approximately every 20
samples. ?The average percentage of recovery core is 95%. The planning,
execution and monitoring of quality control programs at the
Buckreef ?Gold project are under the supervision of Messrs. Charles
Mnguto ?and Phillip Kaniki who are both
registered ?Professional ?Geologists. Charles is ?the Head of Geology ?while
Phillip is the Geology Resource Manager for the Company.

Qualified Person

The Company′s Qualified Person, Mr. Peter Zizhou, has reviewed and
approved the contents of this news release. Mr. Zizhou is the ?General
Manager (Exploration & Admin) ?of Tanzanian Royalty Exploration
Corporation. He has a Master of Science (Exploration Geology) degree
from the University of Zimbabwe (2000) and is a registered scientist
with SACNASP (Reg. No.400028/08).

Respectfully Submitted,

James E. Sinclair

President and CEO

For further information, please contact Investor Relations at
1-800-811-3855

Visit our website: www.TanzanianRoyalty.com

The Toronto Stock Exchange and NYSE Amex Equities have not reviewed and
do not accept responsibility

for the adequacy or accuracy of this release

Cautionary Note to U.S. Investors - The United States Securities and
Exchange Commission limits disclosure for U.S. reporting purposes to
mineral deposits that a company can economically and legally extract or
produce. We use certain terms on this news release, such as 'reserves?,
'resources?, 'geologic resources?, 'proven?, 'probable?, 'measured',
'indicated', or 'inferred' which may not be consistent with the reserve
definitions established by the SEC.U.S. Investors are urged to
consider closely the disclosure in our SEC filings.You can
review and obtain copies of these filings from the SEC's website at http://www.sec.gov/edgar.shtml

This news release contains certain forward-looking statements and
forward-looking information. All statements, other than statements of
historical fact, included herein are forward-looking statements and
forward-looking information that involve various risks and
uncertainties. There can be no assurance that such statements will prove
to be accurate, and actual results and future events could differ
materially from those anticipated in such statements. Important factors
that could cause actual results to differ materially from the Company's
expectations are disclosed in the Company's documents filed from
time-to-time with the British Columbia, Alberta and Ontario provincial
securities regulatory authorities.

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 SEC filings, including our annual
report on Form 20-F and Registration Statement on Form F-10, as amended,
for more information concerning these risks, uncertainties, and other
factors.

Tanzanian Royalty Exploration

David Duval, 1-800-811-3855

Investor
Relations

Email: investors@TanzanianRoyalty.com

or

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Office:

Tel: (860) 364-1830

Fax: (860) 364-0673

or

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