Wednesday, May 23, 2012

Tanzanian Royalty Reports Higher Gold Grades Zone Extended 30m at 3.89g/t Au, including four high grade intercepts best intercept 7m @ 7.23g/t Au

South Surrey, British Columbia CANADA, May 22, 2012 (Filing Services Canada via COMTEX) -- Tanzanian Royalty Exploration Corp (TNX - TSX, TRX - NYSE Amex), (the "Company") is pleased to announce that it has received further assays from its ongoing drilling program at the Buckreef Gold Project in Tanzania. Results from diamond drill holes BMDD146 to BMDD153 were received from Buckreef Main zone and BMDD157 from Eastern Porphyry.

Drilling highlights include:

* BMDD146 encountered an intercept of 2.5 metres grading 1.96g/t gold from 176 metres which included 1.0 metres grading 5.62g/t gold from 199 meters

* BMDD147 encountered intercepts of 30 metres grading 3.89g/t gold from 177 metres which included 7.0 metres averaging 7.23g/t gold from189 metres and 5 metres grading 5.33g/t gold from 181 metres; 7.0 metres grading 3.23g/t gold which include 2 metres averaging 5.56g/t gold from 235m; and 2 metres grading 7.36g/t Au from 156 metres

* BMDD148 encountered an intercept of 2.0 metres grading 1.57g/t gold from 109 metres

* BMDD149 intersected 5 metres grading 5.98g/t gold from 176 metres which includes 2 metres averaging 10.69g/t golf from 178 metres

* BMDD151 intersected 11 metres grading 2.98g/t gold from 210 metres which include 2.9 metres grading 5.9g/t gold from 212.1 metres

* BMDD152 intersected 1.7 metres grading 4.80g/t gold from 149.3 metres and a wide zone of 12 metres averaging 1.39g/t gold from 194 metres which include 1.2 metres grading 6.17g/t Au from 194.8 metres

* BMDD153 intersected 4.10 metres grading 9.20g/t gold from 226.9 metres which includes 2.07 metres averaging 15.71g/t gold from 229.23 metres

* BMDD157 intersected 4 metres grading 3.01g/t gold from 35 metres which includes 1.0 metres averaging 6.45g/t gold from 39 metres; 3 metres grading 3.14g/t Au from 106 metres

All intersections reported here are core lengths and may not represent true width but the true width is estimated to be 50 - 60%.

The gold mineralization at the Buckreef and Eastern Porphyry target is hosted in shear zones emplaced along the fine grained basaltic sequence, medium grained dolerite and strongly altered felsic porphyry units, associated with gold-bearing quartz-sericite-carbonate-pyrite alteration assemblages. The best gold grades are confined within brecciated and altered dolerite with felsic porphyry intercalation and grey quartz vein with fine disseminated pyrite.

According to Joseph K. Kahama, Chairman and Chief Operating Officer (Tanzania), "Drilling has intersected a number of mineralized zones of significant thicknesses at vertical depths down to 200m below surface and confirmed the presences of gold-bearing structures. With the current exploration program, recently focusing on testing the upside potential on the deeper levels of the deposit, we will increase our knowledge with respect to continuity and grade distribution of these zones. This will serve to further increase our level of confidence associated with the Buckreef gold project and, we expect, increase our resource base meanwhile, all mineralized zones below a vertical depth of 200m below surface remain largely untested."

Sample Protocol and QA/QC

The samples chain of custody is managed by Buckreef technical team under the supervision of Anthony Minde. Core samples are picked up from the drill site at the end of every shift by Company personnel for direct delivery to the secured drill core storage house locate next to the Buckreef exploration office. The storage is accessible only by approved personnel.

Intervals of core to be analyzed are split with a mechanized core cutter in half with one half to be sent to the laboratory for geochemical analysis and the remaining half to be kept in storage for future reference and uses. Samples to be assayed will remain under the control of Company personnel until submitted to SGS laboratory in Mwanza for 50g fire assay (FA) with AAS finish (0.01ppm LLD). The average percentage of recovery core is 95%. Sample intervals of 1m or less but greater than 0.5m depended on geology.

SGS laboratory is ISO 90001 and 17025 accredited and employs a Laboratory Information Management System for sample tracking, quality control and reporting. In addition to SGS internal standards materials and blank samples, the Company regularly inserts into every batch its own certified standards, coarse blanks and duplicate sample in the sample stream approximately every 20 samples.

Qualified Person

The Company's Qualified Persons, Mr. Phillip Kaniki and Charles Mnguto, have reviewed and approved the content of this news release. Mr. Phillip Kaniki has a Bachelor of Science in Geology degree from the University of Dar es Salaam (1997) and is a registered scientist with MAusIMM (Reg. No 221963). Mr. Charles Mnguto has a Bachelor of Science in Geology (Hons) degree from the University of Dar es Salaam (1995) and is registered scientist with MAusIMM (Reg. No 307793).

Respectfully Submitted,

Joseph Kahama

Chairman and Chief Operating Officer (Tanzania)

For further information, please contact Investor Relations at 1-800-811-3855

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