Tanzanian Royalty to Begin Major Drill Program at Kigosi

Vancouver, Canada, November 16 (ots/PRNewswire) - Tanzanian
Royalty Exploration is pleased to announce that it has started a
detailed exploration program on its Kigosi Property which includes
the following elements:

- A detailed assessment of the AngloAshanti database (complete).

- Selected IP traverses over the artisanal workings at Luhwaika
and Igunda.

- A 5,000 metre Reverse Circulation (RC) drill program scheduled
to commence this month.

According to Tanzanian Royalty Chairman and CEO Jim Sinclair,
"We've been eager to determine the full potential of Kigosi for some
time now and we are prepared to commit whatever resources are needed
to allow us to achieve that goal."

The area of interest comprises two artisanal mining sites that are
parallel to each other and are separated by a 2.5 kilometre wide
swath of mbuga (overburden). The Luhwaika workings are the largest
in the area with sporadic artisanal activity spread over a distance
of approximately 1,200 metres.

Within this area, mineralization is controlled by a gold-rich,
brittle ductile shear zone that has developed near the contact
between a large granite intrusive and mafic greenstones. The strike
of this high strain zone is 320 degrees, which is similar to the
Bulyanhulu deposit, while the dip is moderate to the southwest.

From the productive shallow artisanal work shafts, it appears that
at least two sub-parallel zones exist. This is confirmed by the
AngloAshanti soils data that extend the Luhwaika mineralization to
over 3.3 kilometres along strike. The soil data indicate a strong
relationship between the granite contact and the gold
mineralization. Grab samples at Luhwaika have returned values up to
194 g/t.

The gold occurs within a stockwork of shear-hosted quartz veins
and within sheared granite. To date, two IP traverses have been
completed over the Luhwaika showings by the Company's in-house
geophysical department. One traverse is in the southeast and the
other 1.6 kilometres to the northwest. Both these traverses display
moderate to strong chargabilities and resistivities over the
artisanal zones. More sub-parallel IP anomalies could represent
additional mineralization that has not yet been uncovered by the
artisanals. The zones appear thick and in some cases may be up to 50
metres wide.

The present strike of the Igunda workings is approximately 300
metres. These workings occur in a thin (one meter) quartz vein
within mafic volcanics and have a similar strike to the Luhwaika
workings but a steeper almost vertical dip. Grab samples from these
workings have returned values up to 50.32 g/t. One IP line has been
completed across these workings and results indicate that there may
be an additional zone a few hundred meters to the southwest.

A fourth IP line has been completed across the middle of the mbuga
that separates the Luhwaika and Igunda occurrences. A weak anomaly
occurs along strike of the Luhwaika-Igunda trend, and stronger
anomalies occur to the northeast and southwest.

Aeromagnetic interpretations conducted by AngloAshanti suggest
that the granite - greenstone contact occurs a few hundred meters
south of the Luhwaika-Igunda trend in this particular area. This has
been suggested by the IP which needs to be extended to confirm this
hypothesis. No soil geochem has been carried out in this area as the
mbuga soils form a transported blanket over the mineralization.

The IP is ongoing and due to the large strike of the system, IP
lines are being planned across the highest soil anomaly areas.

This first phase drilling will test the main Luhwaika and Igunda
workings along three to four traverse lines but will not target
additional IP targets. Shallow drilling (50 metre holes) along toe
and collar RC fences has been designed to test across the entire
length of both workings. An all-weather road is currently being
constructed for drill and support vehicle accessibility. Drilling is
expected to begin within the week.

The total strike length of the Luhwaika-Igunda shear system is
currently 4.7 kilometres and by including the Luhwaika north
extension this system is up to 9.0 kilometres long.

Tanzanian Royalty President, John Deane comments: "This is a very
exciting time for the Company. These workings have been known for
some time but our ability to evaluate these highly prospective
targets has been slowed by a lengthy permitting process which
understandably is designed to preserve the environmental integrity
of the site."

"The Company intends to go in hard and fast. The system has more
than adequate strike length, multiple sub-parallel zones, and
appears to have excellent grade potential as well. This first phase
of drilling will determine if it has the continuity to generate
resources of economic interest."

Qualified Person

The Company's Qualified Person is Mr. John Deane, the President of
Tanzanian Royalty Exploration Corporation Limited. He has an M.Sc.
from the University of Cape Town (1993) and is a registered
scientist with SACNASP (Reg. No.400005/05). Mr. Deane has reviewed
and validated the AngloAshanti geochemical and geological databases
for this particular area and has made the necessary corrections.

Analysis

The AngloAshanti soils were submitted to SGS Mwanza for Fire Assay
analysis.

Grab and rock chip samples reported in this release were taken by
Mr. Deane and Dr. Jim Oliver. The majority of these samples were
taken from artisanal muck piles found on the top of production
shafts and pits, and this data cannot be used for any resource
evaluation. Fire assay with flame AAS finish on these samples was
conducted by Humac Laboratory in Mwanza, Tanzania.

Respectfully Submitted,

"James E. Sinclair"

James E. Sinclair

Chairman and Chief Executive Officer

Visit our website: www.TanzanianRoyaltyExploration.com
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 No. 0-50634, which may be secured from us, or
from the SEC's website at http://www.sec.gov/edgar.shtml.

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Contact:
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