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Tanzanian Royalty Concludes Definitive Agreement With Kazakh-Funded Company

Discussion in 'Habari na Hoja mchanganyiko' started by nukta77, Jan 30, 2009.

  1. nukta77

    nukta77 Member

    Jan 30, 2009
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    Tanzanian Royalty Concludes Definitive Agreement for Mwadui Diamond Project With Kazakh-Funded Company

    Tanzanian Royalty (TSX: TNX) (NYSE Alternext US: TRE) is pleased to
    announce the signing of a Royalty Agreement with Kazakh Africa Mining
    Ltd. for its 21 Mwadui Project Area diamond licenses in the Lake Victoria
    Greenstone Belt of Tanzania.

    Two of Kazakh Africa's directors hold prominent positions with the
    Almatyenergoservice Ltd., a Kazakhstan-based energy company. Kazakhstan is
    the largest of the former Soviet republics after Russia and it possesses
    enormous fossil fuel reserves. Its industrial sector relies heavily on the
    extraction and processing of natural resources.

    The world famous Williamson diamond mine, which hosts the Mwadui
    kimberlite, the largest, economic diamondiferous kimberlite ever
    discovered, is centrally located within the Mwadui Project Area.

    According to Tanzanian Royalty Chairman and CEO, Jim Sinclair, "The
    agreement with Kazakh Africa Mining fits strategically into the Company's
    strategy of developing business relationships with entrepreneurial-minded,
    independent thinking, technically competent industry partners who share
    our vision of the mineral potential in Tanzania."

    "While the business climate in the minerals sector has certainly slowed,
    we see no concerns expressed by partners about the long term prospects for
    mineral commodities. The willingness to consummate deals is there, it's
    just a question of immediate corporate priorities and, of course, timing,"
    he emphasized.

    "We are especially interested in doing business with emerging economies
    whose leaders think longer term and where industrialization programs have
    been put into place that are unencumbered by high risk, short term,
    politically expedient policies that are so pervasive in the West. In my
    opinion, these type alliances will be the gold standard by which players
    in our market segment will be measured in the years ahead."

    The Mwadui licenses are known to host alluvial gravels whose economic
    potential will be evaluated by Kazakh Africa Mining in future work
    programs. Alluvial diamonds accumulate in gravels because of their inert
    chemical nature, their hardness, and their relatively high specific
    gravity. The type of diamond deposits that dominate the Mwadui area fall
    into the alluvial variety. Geologists believe these deposits were likely
    concentrated by the weathering and erosion of the Mwadui and its satellite
    kimberlite pipes.

    Kazakh Africa Mining can acquire a 100% interest on the licenses by
    fulfilling various Option payments whereby Tanzanian Royalty will then
    receive a GORR (Gross Overriding Royalty) of 1.5% on all diamonds sold.

    Respectfully Submitted,

    "James E. Sinclair"
    James E. Sinclair
    Chairman and Chief Executive Officer

    For further information, please contact Investor Relations at

    Visit our website: Tanzanian Royalty Exploration Corporation - Home Page - Thu Jan 29, 2009

    The Toronto Stock Exchange and American Stock Exchange have not reviewed
    and do not accept responsibility for the adequacy or accuracy of this

    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 Form 20-F, File No. 001-32500. You can
    review and obtain copies of these filings from the SEC's website at
    SEC Filings & Forms.

    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 a more information concerning
    these risks, uncertainties, and other factors.

    Distributed by Filing Services Canada and retransmitted by Marketwire

    Connecticut Office:
    93 Benton Hill Road
    Sharon, CT 06069
    Tel: (860) 364-1830
    Fax: (860) 364-0673

    Vancouver Office:
    Suite 404 - 1688 152nd Street
    South Surrey, BC V4A 4N2
    Toll Free: 1-800-811-3855
    Email: Email Contact
    Tel: (604) 536-7873
    Website: Tanzanian Royalty Exploration Corporation - Home Page - Thu Jan 29, 2009
    Fax: (604) 536-2529

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