Trade Symbol: TSX: TNX AMEX: TRE VANCOUVER, Sept. 13 /PRNewswire-FirstCall/ -- The Company is pleased to announce that a drilling program has commenced on its Itetemia Gold Project in the Lake Victoria Greenstone Belt of Tanzania. The Itetemia property is located some 90 kilometers southwest of Mwanza adjacent to Barrick's Bulyanhulu Mine property, one of the largest underground gold producers in the world. Itetemia is currently the subject of an option agreement with a private United Kingdom based company, Sloane Developments Ltd. which can earn a percentage interest in prospecting licenses aggregating 54 square kilometres. The drill program will include at least 2,000 metres of Reverse Circulation (RC) drilling and 3,000 metres of infill diamond drilling which is designed to improve the confidence level of the gold grades encountered in previous drill programs within the Golden Horseshoe Reef (GHR) down to the 200 metre level. The GHR has been traced by diamond drilling to a vertical depth of approximately 440 meters, with the gold mineralization occurring primarily within two discrete zones, the South and North, which plunge approximately 55 degrees to the northwest. RC drilling is continuing at the Company's Kigosi Project which will also be the subject of a diamond drilling program in the near future. 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. 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 # 0-50634, for a more information concerning these risks, uncertainties, and other factors. 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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