Trade Symbol: TSX: TNX AMEX: TRE VANCOUVER, March 8 /PRNewswire-FirstCall/ -- Tanzanian Royalty Exploration Corporation (the "Company") announces that it has changed its legal name from Tan Range Exploration Corporation. The change was approved by shareholders at the Company's Annual and Special Meeting held on February 27, 2006 in Toronto and by the Toronto Stock Exchange and the American Stock Exchange effective today. "Our new name, Tanzanian Royalty Exploration Corporation, more accurately reflects the Company's strategy of producing unencumbered royalty income through exploration and investment in gold and other prospective mineral properties in the Republic of Tanzania," said James E. Sinclair, Chairman and Chief Executive Officer of the Company. "In the past year, we have made significant progress towards realizing our objective of becoming a royalty company," he added. "By utilizing our own drilling equipment and crews, we now have the capacity to develop the mineral potential on our holdings in a timely and cost-efficient fashion. And our capacity to discover world-class mineral deposits is further leveraged by royalty agreements we have with Barrick, Ashanti Goldfields and Northern Mining Explorations," he said. The Company will maintain its existing trading symbols on the TSX and AMEX exchanges, those symbols being TNX and TRE. The new CUSIP/ISIN number is 876000104/CA 9760001049. Shareholders are not required to exchange their existing share certificates for new certificates bearing the new Company name and CUSIP/ISIN number. 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 the Tan Range website: http://www.tanrange.com/ The Toronto Stock Exchange nor American Stock Exchange have not reviewed and does 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. DATASOURCE: Tan Range Exploration Corporation CONTACT: For further information please contact Investor Relations at 1-800-811-3855; Visit the Tan Range website: http://www.tanrange.com/; To request a free copy of this organization's annual report, please go to http://www.newswire.ca/ and click on Tools for Investors.

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