Important Permit for Continued Operations on the Kigosi Licenses Has Been Received from the Tanzanian Ministry of Natural Resources Joseph Kahama, Chairman and COO (Tanzania) of Tanzanian Royalty Exploration Corporation
Connecticut Office: Form 20-F, File No. 001-32500 93 Benton Hill Road Trade Symbol:
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News Release – May 31, 2012
Important Permit for Continued Operations on the Kigosi Licenses Has Been Received from the Tanzanian Ministry of Natural Resources
Joseph Kahama, Chairman and COO (Tanzania) of Tanzanian Royalty Exploration Corporation said that a contract for continued operations will now be negotiated with the Ministry. Having operated there now for more than nine years the tenets of the contract should mirror previous arrangements. Therefore this exercise should be simple.
James Sinclair, President and CEO commented that receipt of this permit is a very important event for the company. We have been waiting for receipt of this document to allow us to move forward on the Kigosi project full speed.
The Kigosi Project is located within the Kigosi-Miyabi and Ushirombo greenstone belts in northwestern Tanzania. The Kigosi-Miyabi granite-greenstone belt hosts small-scale artisanal workings at Luhwaika and Igunda both of which sub-crop intermittently along a strike length of approximately 4.8 kilometres in the Kigosi Project Area. Further to the southeast these artisanal workings are aligned with the Miyabi Gold Project owned by African Eagle.
Tanzanian Royalty has been actively exploring Kigosi since November 2005 following the receipt of a permit from the Ministry of Wildlife and Nature Conservation. During this intervening period, the Company conducted extensive exploration in the form of soil geochemistry, geophysics, RAB, RC and diamond drilling throughout the property.
The recent 43-101 compliant resource report for the Kigosi Project is available on SEDAR.
Respectfully Submitted, Joseph Kahama Chairman and Chief Operating Officer (Tanzania)
For further information, please contact Investor Relations at 1-800-811-3855 Visit our website: www.TanzanianRoyalty.com
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