The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from Filing Services Canada

Important Permit for Continued Operations on the Kigosi Licenses Has Been Received from the Tanzanian Ministry of Natural Resources

Thursday, May 31, 2012

Important Permit for Continued Operations on the Kigosi Licenses Has Been Received from the Tanzanian Ministry of Natural Resources14:58 EDT Thursday, May 31, 2012FSC / Press ReleaseImportant Permit for Continued Operations on the Kigosi Licenses Has Been Received from the Tanzanian Ministry of Natural ResourcesSouth Surrey, British Columbia CANADA, May 31, 2012 /FSC/ - Tanzanian Royalty Exploration Corp (TNX - TSX, TRX - NYSE AMEX),Joseph Kahama, Chairman and COO (Tanzania) of Tanzanian Royalty Exploration Corporation said that a contract for continued operations will now be negotiated with the Ministry. Having operated there now for more than nine years the tenets of the contract should mirror previous arrangements. Therefore this exercise should be simple.James Sinclair, President and CEO commented that receipt of this permit is a very important event for the company. We have been waiting for receipt of this document to allow us to move forward on the Kigosi project full speed.The Kigosi Project is located within the Kigosi-Miyabi and Ushirombo greenstone belts in northwestern Tanzania. The Kigosi-Miyabi granite-greenstone belt hosts small-scale artisanal workings at Luhwaika and Igunda both of which sub-crop intermittently along a strike length of approximately 4.8 kilometres in the Kigosi Project Area. Further to the southeast these artisanal workings are aligned with the Miyabi Gold Project owned by African Eagle.Tanzanian Royalty has been actively exploring Kigosi since November 2005 following the receipt of a permit from the Ministry of Wildlife and Nature Conservation. During this intervening period, the Company conducted extensive exploration in the form of soil geochemistry, geophysics, RAB, RC and diamond drilling throughout the property. The recent 43-101 compliant resource report for the Kigosi Project is available on SEDAR.Respectfully Submitted, Joseph Kahama Chairman and Chief Operating Officer (Tanzania)For further information, please contact Investor Relations at 1-800-811-3855 Visit our website: The Toronto Stock Exchange and NYSE Amex Equities 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 limits disclosure for U.S. reporting purposes to mineral deposits that a company can economically and legally extract or produce. We use certain terms on this news release, such as "reserves", "resources", "geologic resources", "proven", "probable", "measured", "indicated", or "inferred" which may not be consistent with the reserve definitions established by the SEC. U.S. Investors are urged to consider closely the disclosure in our SEC filings. You can review and obtain copies of these filings from the SEC's website at news release contains certain forward-looking statements and forward-looking information. All statements, other than statements of historical fact, included herein are forward-looking statements and forward-looking information that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time-to-time with the British Columbia, Alberta and Ontario provincial securities regulatory authorities.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 SEC filings, including our annual report on Form 20-F and Registration Statement on Form F-10, as amended, for more information concerning these risks, uncertainties, and other factors.Connecticut Office: 93 Benton Hill Road Sharon, CT 06069 Tel: (860) 364-1830 Fax: (860) 364-0673 Form 20-F, File No. 001-32500 Trade Symbol: TSX:TNX NYSE Amex Equities:TRX South Surrey Office Suite 404-1688 152nd Street South Surrey, BC V4A 4N2 Toll Free: 1-800-811-3855 Tel:(604) 536-7873 Fax:(604) 536-5259 Email: Website: To view this press release as a webpage, please click on the following link: Tanzanian Royalty Exploration Corp (TNX - TSX) (TRE - AMEX) Maximum News Dissemination by FSCwire.