Trade Symbol: TSX: TNX AMEX: TRE VANCOUVER, Aug. 28 /PRNewswire-FirstCall/ -- Tanzanian Royalty Exploration Corporation is pleased to announce the appointment of Jonathan G. Deane to the Board of Directors. Mr. Deane will retain his executive position as president of Tanzanian Royalty Exploration Corporation, including responsibility for all its exploration activities in Tanzania. "Mr. Deane's appointment to the Board comes at a critical juncture in the Company's history," noted Jim Sinclair, Chairman and CEO. "We are advancing projects on several fronts in Tanzania and in recognition of his geological successes in the field, having him participate at the Board level seemed more than appropriate." Mr. Sinclair also wishes to announce that Victoria Luis has elected to step down as Chief Financial Officer and will now focus her energies and experience on strategic planning and other corporate issues. She will continue to serve on the Board of Directors. "Victoria has been the financial backbone of the Company since November of 2002 and she will continue to play a leading role in the affairs of the Company," Sinclair emphasized. Ms. Regina Kuo-Lee has accepted the position of Chief Financial Officer and will be based in Toronto. A Chartered Accountant, she has more than 16 years experience in the accounting field, more recently as CFO and Vice President of Finance for Trimin Capital Corp., a management company with large equity interests in operating businesses. She also has several years experience as a Controller in the Technology Sector and worked as an internal auditor in the brokerage industry after a five year stint with Deloitte & Touche, Chartered Accountants in Toronto. Helen Hansen, who has managed the Company's Vancouver office for more than a decade, has been appointed Corporate Secretary. Ms. Hansen's unique skill sets will prove invaluable to Tanzanian Royalty as it matures as a dual-listed company on the Toronto and Amex Stock Exchanges. All the appointments are effective September 1, 2006. Respectfully Submitted, "James Sinclair" James E. Sinclair Chairman and Chief Executive Officer 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 # 0-50634, which may be secured from us, or from the SEC's website at http://www.sec.gov/edgar.shtml. CONTACT: Investor Relations at 1-800-811-3855; Visit our website: http://www.tanzanianroyaltyexploration.com/ DATASOURCE: Tanzanian Royalty Exploration Corporation CONTACT: Investor Relations at 1-800-811-3855; Visit our website: http://www.tanzanianroyaltyexploration.com/

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