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Tanzanian Royalty Clarifies Bloomberg News Service Article
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Tanzanian Royalty would like to clarify some erroneous information that
appeared in an article carried by Bloomberg news service on April 4,
2008 pertaining to its exploration activities in Tanzania.
Tanzanian Royalty has no intention whatsoever of raising capital
through a public share offering. In fact, the Company's Chairman and
CEO, James E. Sinclair, has stated publicly his intention to finance
the Company through ongoing private placements for as long as required.
The Company is continuing to discuss business opportunities with
potential royalty partners for its strategically located land portfolio
in the Lake Victoria Greenstone Belt of Tanzania.
"At the present time, four entities have concluded Confidentiality
Agreements (CA's) with the Company that will allow them to review
technical data on our entire land portfolio in Tanzania," Sinclair
noted.
In addition, five other entities have signed CA's for specific
projects, with many of the confidentiality agreements covering the same
projects. (For a map showing specific projects that are subject to CA's
please visit the Projects Section of the Company's website at:
www.tanzanianroyalty.com).
"Although we are working hard to develop the mineral potential on our
entire portfolio of properties in Tanzania, we are focusing most of our
fiscal resources on our core project, Kigosi, which we consider to be
the most attractive gold exploration project in Tanzania at the present
time," Sinclair said.
Sinclair also confirmed that Tanzanian Royalty is being "courted by
some well-heeled mining entities" which in large part is due to its
long and successful track record in Tanzania which includes a
sensitivity to the needs of indigenous Tanzanians and the environment
in which they work and live."
Respectfully Submitted,
"James Sinclair"
James E. Sinclair
Chairman and Chief Executive Officer
For further information, please contact Investor Relations at
1-800-811-3855
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 limits disclosure for U.S. reporting purposes to
mineral deposits that a company can economically and legally extract or
produce. We use certain terms on this news release, such as "reserves",
"resources", "geologic resources", "proven", "probable", "measured",
"indicated", or "inferred" which may not be consistent with the reserve
definitions established by the SEC. U.S. Investors are urged to
consider closely the disclosure in our Form 20-F, File No. 0-50634. You
can review and obtain copies of these filings 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 No. 0-50634, for a
more information concerning these risks, uncertainties, and other
factors.
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Copyright (c) 2008 TANZANIAN ROYALTY EXPLORATION CORPORATION (TNX) All
rights reserved. For more information visit our website at
http://www.tanzanianroyaltyexploration.com/ or send
mailto:info@tanzanianroyaltyexploration.com
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