U.S.A. 06784 Toronto, Ontario
CONNECTICUT OFFICE: TORONTO OFFICE:
PO Box 577 Bay Adelaide Centre, East Tower
Sherman, CT 22 Adelaide Street West, Suite 3400
U.S.A. 06784 Toronto, Ontario
Phone: 1.844.364.1830 Canada M5H 4E3
Fax : 1.860.799.0350 Toll Free: 1.844.364.1830
www.tanzanianroyalty.com
News Release – March 30, 2017
TANZANIAN ROYALTY RESOURCES UPDATE
ON BUCKREEF DEVELOPMENT PROJECT
TORONTO, ONTARIO--(Marketwired March 30, 2017) - Tanzanian Royalty Exploration Corporation
(TSX:TNX)(NYSE MKT:TRX) (the "Company") announces that Mr. Jeffrey Duval, acting CEO, is pleased
to report that the preparatory work for future mining has commenced. Management decided to proceed with
the clearing process in preparation for pre stripping and grade control drilling to follow. Pre-stripping
operations exposes the area of the property where alr eady identified mineralization exist. This process is
used to map out the grade location and maintain stri ct control throughout, and provides for accurate grade
selection.
Presently there are 7128 ounces of gold in storage for processing upon completion of the CIL module.
Though the gravity circuit is already installed th e planned CIL/Gravity system will provide higher
recoveries.
Mr. Duval is starting this process now because even tho ugh our ore storage facility is full, as material is
processed it will be open space for more material to be processed.
It is the intention of the Company to ship the resulting dore bars, after royalty payments to Tanzania to its
refiner, Argor-Heraeus in Switzerland. It will be stored , more than likely, not sold but borrowed against for
cash flow necessities.
Mr. Sinclair, Executive Chairman, will manage the gol d position in the market place pending sale. He was
considered in the 1968-1980 gold market as the largest world trader in gold. He has been named Mr. Gold in
many publications, some recently. His experience as a market maker for more than 30 years offers the
Company the option for the management of the gold position sales. This strategy replaces the normal, "mine
and sell as fast as possible", common to the industry. The rationale behind the intent to borrow against the
dore rather than to sell it is based on Mr. Sinclair's widely known assumption of future significantly higher
prices in the gold market. This is not without signifi cant risk of the market place. The Company is willing to
assume this risk due to Mr. Sinclair's experience. It should be noted that past performance is no guarantee to
future performance.
ABOUT TANZANIAN ROYALTY EXPLORATION CORPORATION:
Tanzanian Royalty Exploration Corporation is a mineral resource company, which engages in the
acquisition, exploration and extrac tion of gold and other natural res ources in the United Republic of
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Tanzania, Africa. The Company, af ter successfully exploring for Gold has identified three development
projects, Buckreef, Kigosi, and Itetemia. In early 201 6 in conjunction with our first gold pour, the Company
was deemed a commercial gold producer by the Tan zanian Government. The Company is presently focused
on its Buckreef Gold Project located in North central Tanzania.
Further information can be found in the Company's 43-10 1 reports, which can be view ed together with other
reports and updates on the Company homepage at: www.TanzanianRoyalty.com
Respectfully Submitted,
James E. Sinclair
Executive Chairman
Tanzanian Royalty Exploration Corporation
For further information, please contact Investor Relations:
Michael Porter
Porter, LeVay & Rose 212-564-4700 [email protected]
The Toronto Stock Exchange and NYSE Amex Equities have not reviewed and do not accept
responsibility for the adequacy or accuracy of this release
This news release contains certain forward-looki ng statements and forward-looking information. All
statements, other than statements of historical fact , included herein are forwar d-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 Compan y'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 Ac t of 1995. Such forward-looking statements are based
on numerous assumptions, and involve known and unknown risks, uncertainti es and other factors, including
risks inherent in mineral exploration and developmen t, which may cause the actual results, performance, or
achievements of the Company to be materially differe nt 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.