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Press release from Filing Services Canada

Detailed Review by Tanzanian Royalty of Historical Data at Buckreef Project Reveals Significant Drill Hole Assays in Eastern Porphyry Area

Friday, May 27, 2011

Detailed Review by Tanzanian Royalty of Historical Data at Buckreef Project Reveals Significant Drill Hole Assays in Eastern Porphyry Area 12:14 EDT Friday, May 27, 2011FSC / Press ReleaseDetailed Review by Tanzanian Royalty of Historical Data at Buckreef Project Reveals Significant Drill Hole Assays in Eastern Porphyry Area South Surrey, British Columbia CANADA, May 27, 2011 /FSC/ - Tanzanian Royalty Exploration Corp (TNX - TSX, TRE - American), is pleased to report that it has completed a detailed review of historical drilling programs on its Buckreef Gold Mine Re-development project in Tanzania . The review included an analysis of a 10 hole Phase 1 Reverse Circulation (RC) drill program completed in 2002 on the Eastern Porphyry Prospect by Ashanti Goldfields. This drill program was subsequently followed up with a 40 hole Phase 2 drill program conducted by Iamgold Tanzania several years later which served to confirm the geological potential in the area.Tanzanian Royalty is now planning a Phase 3 RC drilling program and a Phase 1 Diamond Drilling program on the Eastern Porphyry Prospect to establish the strike and down-dip continuity of the mineralization as part of its effort to generate additional resources of economic interest on the Buckreef Gold Project. The table below is a summary of the significant fire assay results from these two preliminary drilling programs: -***- ------------------------------------------------------------------------- EASTERN PORPHYRY RC ASSAY HIGHLIGHTS ------------------------------------------------------------------------- HOLE_ID SAMPLE DEPTH WIDTH ASSAY COMMENT (M) (M) GRADE (g/t) ------------------------- From To ------------------------------------------------------------------------- NLRC013 41.00 42.00 1.00 3.75 Phase 1 RC Drilling-ASHANTI NLRC026 93.00 94.00 1.00 3.43 Phase 1 RC Drilling-ASHANTI NLRC026 116.00 120.00 4.00 2.07 Phase 1 RC Drilling-ASHANTI NLRC027 11.00 13.00 2.00 5.67 Phase 1 RC Drilling-ASHANTI NLRC027 69.00 83.00 14.00 0.77 Phase 1 RC Drilling-ASHANTI NLRC028 52.00 54.00 2.00 2.06 Phase 1 RC Drilling-ASHANTI NLRC029 62.00 65.00 3.00 2.18 Phase 1 RC Drilling-ASHANTI NLRC030 53.00 55.00 2.00 8.81 Phase 1 RC Drilling-ASHANTI NLRC031 14.00 18.00 4.00 0.95 Phase 1 RC Drilling-ASHANTI NLRC031 52.00 57.00 5.00 1.07 Phase 1 RC Drilling-ASHANTI NLRC032 24.00 25.00 1.00 3.87 Phase 1 RC Drilling-ASHANTI NLRC032 54.00 66.00 12.00 0.91 Phase 1 RC Drilling-ASHANTI NLRC033 60.00 70.00 10.00 1.02 Phase 1 RC Drilling-ASHANTI NLRC033 74.00 75.00 1.00 2.51 Phase 1 RC Drilling-ASHANTI BMRC392 40.00 41.00 1.00 2.93 Phase 2 RC Drilling-IAMGOLD BMRC392 104.00 112.00 8.00 0.73 Phase 2 RC Drilling-IAMGOLD BMRC393 25.00 43.00 18.00 6.58 Phase 2 RC Drilling-IAMGOLD BMRC394 3.00 4.00 1.00 3.52 Phase 2 RC Drilling-IAMGOLD BMRC394 17.00 18.00 1.00 3.69 Phase 2 RC Drilling-IAMGOLD BMRC394 67.00 70.00 3.00 0.99 Phase 2 RC Drilling-IAMGOLD BMRC395 85.00 90.00 5.00 1.35 Phase 2 RC Drilling-IAMGOLD BMRC499 17.00 18.00 1.00 2.81 Phase 2 RC Drilling-IAMGOLD BMRC499 83.00 89.00 6.00 0.86 Phase 2 RC Drilling-IAMGOLD BMRC499 94.00 98.00 4.00 0.64 Phase 2 RC Drilling-IAMGOLD ------------------------------------------------------------------------- -****-Qualified PersonThe Company's Qualified Persons are Mr. Peter Tererai Zizhou, the General Manager and Mr. Phillip Kaniki, the Resource Manager of Tanzanian Royalty Exploration Corporation Limited. Mr. Zizhou has a Master of Science (Exploration Geology) degree from the University of Zimbabwe (2000) and is a registered scientist with SACNASP (Reg. No.400028/08). Mr. Kaniki has a Bachelor of Science (Geology) degree from the University of Dar es Salaam (1997) and is a registered scientist with AusIMM (Reg. No.221963/07). Mr. Kaniki has reviewed and validated the RC drill-hole data for this particular prospect. AnalysisFire assay with flame AAS finish was conducted by SGS Laboratories in Mwanza, Tanzania on both drilling programs. A total of 5,000 RC samples were collected during the drilling programs. A combined total of 113 commercial blanks, 112 standards, and 138 field duplicates were inserted in the sample stream as part of a large drilling program combining various prospects around Buckreef. Respectfully Submitted,Joseph Kulwa KahamaChairman and Chief Operating OfficerFor further information, please contact Investor Relations at 1-800-811-3855 Visit our website: www.TanzanianRoyaltyExploration.com The Toronto Stock Exchange and American Stock Exchange have not reviewed and do not accept responsibility for the adequacy or accuracy of this releaseCautionary 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.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 No. 001-32500, for more information concerning these risks, uncertainties, and other factors.Corporate Office: 93 Benton Hill Road Sharon, CT 06069 Tel: (860) 364-1830 Fax: (860) 364-0673 Vancouver Office: Suite 1400 - 355 Burrard Street Vancouver, BC V6C 2G8 Toll Free: 1-800-811-3855 Tel: (604) 669-5598 Fax: (604) 669-8915 Email: investors@TanzanianRoyaltyExploration.com Website: www.TanzanianRoyaltyExploration.com Contact Person:David Duval Ph: 604-980-1669dkduval@gmail.comTo view this press release as a web page, please click on the following link:http://www.usetdas.com/pr/tanzanian05272011.htmSource: Tanzanian Royalty Exploration Corp (TNX - TSX) (TRE - AMEX) http://www.tanzanianroyaltyexploration.com Maximum News Dissemination by Filing Services Canada Inc. http://www.usetdas.com