Trade Symbol: TSX: TNX AMEX: TRE VANCOUVER, Nov. 17 /PRNewswire-FirstCall/ -- Tanzanian Royalty Exploration Corporation confirms that the seventh tranche of the private placement (the "Placement") by James E. Sinclair, the Company's Chairman and CEO, announced on November 2, 2006 closed on November 16, 2006. The seventh tranche consists of 54,058 common shares of the Corporation having a purchase price of $6.937 per share for proceeds totaling $375,000. Inclusive of the proceeds of the seventh tranche, and the balance of the interest free advance of $375,000 to be repaid upon the completion of the remaining tranche of the Placement, Mr. Sinclair's total share placements to date aggregate C$11.3 million. All private placement common shares are subject to certain mandated hold periods and resale restrictions and the certificates representing such shares are legended accordingly. No warrants, options or other rights have been issued or granted in connection with the Placement. Respectfully Submitted, "James E. 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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