Trade Symbol: TSX: TNX AMEX: TRE VANCOUVER, June 29 /PRNewswire-FirstCall/ -- 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 release. 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 # 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 # 0-50634, for a more information concerning these risks, uncertainties, and other factors. CONTACT: Investor Relations at 1-800-811-3855; Visit our website: http://www.tanzanianroyaltyexploration.com/ DATASOURCE: Tanzanian Royalty Exploration Corporation CONTACT: Investor Relations at 1-800-811-3855; Visit our website: http://www.tanzanianroyaltyexploration.com/

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