Press release from Business Wire
Tanzanian Royalty Granted Mineral Rights and Mining License at Kigosi
Thursday, May 30, 2013
Tanzanian Royalty Granted Mineral Rights and Mining License at Kigosi17:35 EDT Thursday, May 30, 2013
SOUTH SURREY, British Columbia (Business Wire) -- Tanzanian Royalty Exploration Corporation (TSX:TNX)( NYSE MKT LLC: TRX)is pleased to announce that the Company's Kigosi Project in Tanzania has been granted a Mineral Rights and Mining License through its wholly owned subsidiary, Tanzania American International Development Corporation 2000 Limited (“Tanzam”). The Mineral Rights and Mining License covers the entire area applied for, 9.91 square kilometres of the Kigosi Project.
The grant of a Mining License allows for eventual production at Kigosi. The Kigosi Project has been certified for its environmental worthiness and safety following multiple stages of review and permits, including town hall meetings and focus group discussions among local and district residents and stakeholders, as well as local and national government regulators.
The Kigosi Project represents one of five projects – the others are Itetemia, Buckreef, Bingwa and Tembo - that are included in the Company's production plan.
It is the Company's intention to move to production on all gold properties that qualify, while at the same time expanding exploration on the base metals project in the Kabanga Nickel Belt. The latter will be undertaken by its subsidiary, Northwestern Base Metals Company Limited, a company whose investors also include the State Mining Corporation of Tanzania (Stamico) and Beijing Songshanheli Mining Investment Co., a Beijing-based mining company. The properties under the operatorship of Northwestern Base Metals Company Limited are being evaluated as exploration prospects primarily for tungsten, nickel, cobalt and other base metals such as cassiterite and coltan.
Chairman and Chief Operating Officer (Tanzania)
For further information, please contact Investor Relations at
Visit our website: www.TanzanianRoyalty.com
The Toronto Stock Exchange and NYSE MKT LLC 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 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 http://www.sec.gov/edgar.shtml .
This 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.
Tanzanian Royalty Exploration Corporation
James Sinclair, 1-800-811-3855