Tanzanian Royalty Reports Annual Meeting Voting Results
Tanzanian Royalty Reports Annual Meeting Voting Results
TORONTO, March 01, 2018 -- Tanzanian Royalty Exploration Corporation (TSX:TNX) (NYSE MKT:TRX) (the "Company")
announces the voting results from its 2018 annual and special meeting held on February 28, 2018.
A total of 60,967,489 common shares were voted representing 49.79% of the issued and outstanding common shares of the
Company. Shareholders voted in favour of all items of business before the Meeting, as follows:
Item Voted Upon Result of Vote
Ordinary resolution to set the number of directors for the ensuing year at five.
On a show of hands, shareholders
approved the resolution.
Proxies:
Votes For Votes Against
58,944,321
(97.64%)
1,425,006
(2.36%)
Ordinary resolution to elect the following nominees as Directors:
On a show of hands, shareholders
approved the resolution.
Proxies:
James E. Sinclair
Votes For Votes Withheld
21,264,869
(94.57%) 1,221,586 (5.43%)
Norman Betts
Votes For Votes Withheld
21,520,198
(95.70%) 966,257 (4.30%)
William Harvey
Votes For Votes Withheld
21,433,321
(95.32%) 1,053,134 (4.68%)
Rosalind Morrow
Votes For Votes Withheld
21,533,600
(95.76%) 952,855 (4.24%)
Ulrich E. Rath
Votes For Votes Withheld
21,464,945
(95.46%) 1,201,510 (4.54%)
Ordinary resolution to approve the appointment of Dale Matheson Carr-Hilton Labonte
LLE, Chartered Accountants, as auditors and authorize the directors to fix the
remuneration of the auditors.
On a show of hands, shareholders
approved the resolution.
Proxies:
Votes For Votes Withheld
58,621,700
(97.11%)
1,747,639
(2.89%)
Ordinary resolution to approve and ratify the adoption of the 2018 incentive stock
option plan.
Shareholders approved the resolution
by way of a ballot
Ballot:
Votes For Votes Against
20,051,146
(86.86%)
3,033,459
(13.41%)
Special resolution to approve and ratify grant of stock options to directors, officers,
employees and consultants
Shareholders approved the resolution
by way of a ballot
Ballot:
Votes For Votes Against
55,065,133
(90.32%) 5,902,355 (9.68%)
For more information and updates, please see the Company website at:
www.tanzanianroyalty.com
Respectfully Submitted,
"James E. Sinclair"
James E. Sinclair
Executive Chairman
Tanzanian Royalty Exploration Corporation
For further information, please contact Investor Relations:
860-248-0999
Cautionary Note Regarding Forward-looking Statements
Certain of the statements made herein may contain forward-looking statements or information within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Often, but not always,
forward-looking statements and forward-looking information can be identified using words such as "plans", "expects", "is
expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negatives thereof or
variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or
"will" be taken, occur or be achieved. Forward-looking statements or information herein include, but are not limited to the
Positive Feasibility Study on Buckreef.
Forward-looking statements and forward-looking information by their nature are based on assumptions and involve known and
unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the
Company to be materially different from any future results, performance or achievements expressed or implied by such forward
-looking statements or information. We have made certain assumptions about the forward-looking statements and
information and even though our management believes that the assumptions made and the expectations represented by such
statements or information are reasonable, there can be no assurance that the forward-looking statement or information will
prove to be accurate. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should
underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements
or information. These risks, uncertainties and other factors include, among others, the following: gold price volatility;
discrepancies between actual and estimated production, mineral reserves and resources and metallurgical recoveries; mining
operational and development risk; litigation risks; regulatory restrictions, including environmental regulatory restrictions and
liability; risks of sovereign investment; currency fluctuations; speculative nature of gold exploration; global economic climate;
dilution; share price volatility; competition; loss of key employees; additional funding requirements; and defective title to
mineral claims or property, as well as those factors discussed in the sections entitled "Forward-Looking Statements" and
"Risk Factors" in the Company's Form 20-F Annual Report dated November 25, 2016.
There can be no assurance that forward-looking statements or information will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such statements. Accordingly, you should not place undue
reliance on the forward-looking statements or information contained herein. Except as required by law, we do not expect to
update forward-looking statements and information continually as conditions change and you are referred to the full discussion
of the Company's business contained in the Company's reports filed with the securities regulatory authorities in Canada and
the U.S.
Cautionary Note Regarding Mineral Reserves and Mineral Resources
The terms "Mineral Reserve", "Proven Mineral Reserve" and "Probable Mineral Reserve" used in this release are Canadian
mining terms as defined in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects under
the guidelines set out in the Canadian Institute of Mining, Metallurgy and Petroleum (the "CIM") Standards on Mineral
Resources and Mineral Reserves, adopted by the CIM Council on August 20, 2000 as may be amended from time to time by
the CIM. These definitions differ from the definitions in the United States Securities Exchange Commission ("SEC") Guide 7.
In the United States, a mineral reserve is defined as a part of a mineral deposit which could be economically and legally
extracted or produced at the time the mineral reserve determination is made.
The terms "Mineral Resource", "Measured Mineral Resource", "Indicated Mineral Resource", "Inferred Mineral Resource" used
in this release are Canadian mining terms as defined in accordance with National Instruction 43-101 – Standards of Disclosure
for Mineral Projects under the guidelines set out in the CIM Standards. Mineral Resources which are not Mineral Reserves do
not have demonstrated economic viability.
For a detailed discussion of Buckreef resource and reserve estimates and related matters see the Company's reports,
including the Form 20-F Annual Report dated November 25, 2016 and technical reports filed under the Company's name at our
website at: www.TanzanianRoyalty.com.
Cautionary Note to US Investors Concerning Estimates of Measured, Indicated and Inferred Resources
Note to U.S. Investors. While the terms "mineral resource", "measured mineral resource," "indicated mineral resource", and
"inferred mineral resource" are recognized and required by Canadian regulations, they are not defined terms under standards
in the United States and normally are not permitted to be used in reports and registration statements filed with the SEC. As
such, information contained in this report concerning descriptions of mineralization and resources under Canadian standards
may not be comparable to similar information made public by U.S companies in SEC filings. With respect to "indicated
mineral resource" and "inferred mineral resource" there is a great amount of uncertainty as to their existence and a great
uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an "indicated mineral
resource" or "inferred mineral resource" will ever be upgraded to a higher category. Investors are cautioned not to assume
that any part or all mineral deposits in these categories will ever be converted into reserves.
There can be no assurance that forward-looking statements or information will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such statements. Accordingly, you should not place undue
reliance on the forward-looking statements or information contained herein. Except as required by law, we do not expect to
update forward-looking statements and information continually as conditions change and you are referred to the full discussion
of the Company's business contained in the Company's reports filed with the securities regulatory authorities in Canada and
the U.S.