VANCOUVER, Aug. 2 /PRNewswire-FirstCall/ -- Tanzanian Royalty Exploration Corporation ("Tanzanian Royalty") is pleased to announce that MDN Inc. ("MDN") has released further assay results from its Mnezeki Project in the Tulawaka area of Tanzania which is held under option from Tanzanian Royalty.
A total of 1,736 meters of RC drilling and 1,252 meters of RAB drilling have been completed on the Mnezeki Project. The table below shows certain encouraging results in addition to re-analysis (with asterisks) of several holes completed in 2006 which had produced low grade results.
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From To Length Grade
Hole No (Meters) (Meters) (Meters) g/t gold
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NPRAB-26 37 45 8 2.41
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50 51 1 1.97
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NPRAB-29 6 7 1 2.09
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MKRC-06(x) 14 15 1 1.04
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MKRC-09(x) 5 7 2 8.10
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MKRC-13(x) 51 52 1 1.73
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MKRC-20(x) 43 44 1 2.40
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MKRC-26 51 52 1 1.56
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MKRAB-08(x) 23 24 1 1.93
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(x) Re-analyzed drilling results from 2006
Because of the nature of RC and RAB drilling it is difficult to accurately determine the true width and orientation of the mineralized intercepts in the preceding table.
Drilling was carried out on two adjacent licenses located on the Mnezeki project which covers 109.8 km2 and is located approximately 20 km east of the Tulawaka Gold Mine. Although the results remain preliminary, they show the presence of gold deposits of potential significance, says MDN.
All samples were analyzed by fire assay at the SGS laboratories in Tanzania, certified under international standards. A rigorous program of analytical grade verification implemented by MDN included 12% control samples. Drilling was carried out under the management of geologist Laurent Millo, and supervised by geologist Dominique Fournier, Ph.D., who acted as a qualified person in accordance with NI 43-101.
Respectfully Submitted,
"James 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/
