November 13, 2012 at 15:26 PM EST
Tanzanian Royalty Announces Results From Eastern Porphyry. Best Hole Has 11 Intervals Of Gold Mineralization; Including 1.0m metre @ 17.8g/t Au

Tanzanian Royalty Exploration Corporation is pleased to announce that new assay results from its ongoing diamond drill program at the Eastern Porphyry on the Buckreef Gold Project in Tanzania have been received and confirm the continuity along strike of thin, en echelon-type mineralized zones of low to high grade mineralization.

Significant intercepts reported include:

• Drill hole BMDD203 which intersected 1m at 1.34g/t Au from 192m, and a second zone of 1m at 1.57g/t Au from 284m.

• Drill hole BMDD205 returned intervals of 1 metres grading 1.31g/t Au from 97m, 1m grading 3.02 g/t Au from 119m, 2m grading 1.43 g/t Au from 123m and 1m 1.17 g/t Au from 192m.

• Drill hole BMDD206 returned intervals of 1m grading 2.25g/t Au from 70m, 1m grading 1.95 g/t Au from 87m and 1m grading 3.28 g/t Au from 93m.

• Drill hole BMDD207 returned intervals of 2.95 metre grading 1.06g/t Au from 14m, 1m grading 4.41 g/t Au from 22m, 1m grading 1.19 g/t Au from 34m, 1m grading 2.37 g/t Au from 48m, 1m grading 4.31 g/t Au from 58m, 1m grading 3.17 g/t Au from 65m, 1m grading 3.33 g/t Au from 109m, 4m grading 1.61 g/t Au from 132m, 1m grading 1.5 g/t Au from 183m, 1m grading 1.18 g/t Au from 195m and 1m grading 17.8 g/t Au from 216m.

• Drill hole BMDD208 returned intervals of 2.83 metres grading 0.58g/t Au from 23m, 1m grading 0.91 g/t Au from 83m and 4m grading 0.62 g/t Au from 86m.

• Drill hole BMDD209 returned intervals of 2.68 metres grading 0.53g/t Au from 164m, 0.9m grading 1.41 g/t Au from 211m, 1m grading 2.23 g/t Au from 218m, 0.88m grading 3.29 g/t Au from 223m, 2m grading 2.73 g/t Au from 264m, 2m grading 1.08 g/t Au from 289m, 3m grading 0.78 g/t Au from 293m and 1.5m grading 3.55 g/t Au from 304m.

The Eastern Porphyry target is located approximately 800m east of Buckreef Main Zone. Gold mineralizations at Eastern Porphyry occur in a sequence of fine grained basalts to medium grained dolerites. This mafic package has been intruded by a series of porphyritic felsic dykes. The dykes are typically pink in colour and possess both quartz and feldspar phenocryst phases in a fine-grained ground mass. The target area has been partially drilled and drilling continues at this zone.

The intersection reported here is a down-hole length and may not represent true width but the true width is estimated to be 50 – 60%.

Mr. Joseph K. Kahama, Chairman and Chief Operating Officer (Tanzania) commented, “We are very excited about the mineralization extension which remains open along strike at the Eastern Porphyry, increasing our confidence in the additional potential available at the Eastern Porphyry remaining to be fully tapped. The intercepts are being encountered where predicted. The Eastern Porphyry vein system is one of the potentially significant discoveries made this year in terms of gold grade, intercept width, strike length and the potential for extensions with further drilling."

Sample Protocol and QA/QC

The samples chain of custody is managed by the Buckreef technical team under the supervision of Anthony Minde. Gold analyses reported in this release were performed by standard fire assay using a 50-gram charge with atomic absorption finish (0.01ppm LLD) and a gravimetric finish for assays greater than 10 grams per tonne. All assays were performed by SGS Laboratory in Mwanza. Sampling and analytical procedures are subject to a comprehensive quality assurance and quality control program. The QA-QC program includes duplicate samples, blanks and analytical standards.

Intervals of core to be analyzed are split in half with a mechanized core cutter with one half to be sent to the laboratory for geochemical analysis and the remaining half to be kept in the storage for future reference and uses.

SGS Laboratory is ISO 90001 and 17025 accredited and employs a Laboratory Information Management System for sample tracking, quality control and reporting.

Qualified Person

The Company’s Qualified Person, Mr. Peter Zizhou, has reviewed and approved the contents of this news release. Mr. Zizhou has a Master of Science (Exploration Geology) degree from the University of Zimbabwe (2000) and is a registered professional natural scientist with SACNASP (Reg. No. 400028/08).

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: 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.

To view this press release as a webpage, please click on the following link:

http://www.fscwire.com/pr/tanzaniannov132012.htm

Contacts:

Tanzanian Royalty Exploration Corporation
James Sinclair, 1-800-811-3855
Email: investors@TanzanianRoyalty.com
Website: www.TanzanianRoyaltyExploration.com
or
Connecticut Office:
Tel: (860) 364-1830
Fax: (860) 364-0673
or
South Surrey Office:
Toll Free: 1-800-811-3855
Tel: (604) 536-7873
Fax: (604) 536-2529
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