Tanzanian Royalty Exploration Corporation Completes Heap Leach Pad Construction

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 2, 2014) - Tanzanian Royalty Exploration Corporation (TSX:TNX)(NYSE MKT:TRX) is pleased to announce the completion of its heap leach pad construction at its Buckreef Re-development Gold Project, located in the Lake Victoria Goldfields of Tanzania. Construction began in April 2014 and was overseen by civil contractor Yale-Constech Company Limited.

Four heap leach cells with dimensions of 100 metres by 30 metres each are now complete. This will support the processing of stacked ore delivered from the Buckreef South Pit. The Company has also completed a significant portion of the Buckreef South Pit preparation, including grade control drilling, maps and roads.

"Completing construction of the four heap leach cells and preparing the Buckreef South Pit for ore extraction were two of the major objectives in our march to production," stated James E. Sinclair, President and CEO of TRX. "Our team managed these projects on plan and our suppliers delivered with the utmost professionalism and safety."

The heap leach project is subject to environmental regulation by the National Environmental Management Council (NEMC) and the pads were engineered to exceed the standards established in The Water Resource Management Act No. 11, 2009. A three-layer barrier structure permanently contains all fluids within the boundaries of the heap and connects the leaching field to the process ponds. From the bottom up, the three layers consist of a one-foot layer of compacted clay base, a 1.5 mm non-porous Bentomat high-density polyethylene liner, and 19 mm of gravel material primarily as a buffer to prevent the liner from contacting ore.

While the complete leach cycle is estimated at a minimum of 60 days, the majority of the metal should be recovered in less than 45 days. The Company anticipates that a sufficient quantity will have accumulated to begin the carbon elution process after about 30 days of irrigation.

"We remain on track for our first pour," stated Mr. Sinclair. "We are looking forward to commissioning the new carbon-in-leach and crushing equipment and hiring the remaining processing staff, raising our employment to over 100 people. We are rapidly becoming Tanzania's newest gold miner and producer."

Qualified Person

The qualified person for Tanzanian Royalty Exploration Corporation is Mr. Phillip Kaniki, General Manager, Exploration and Administration. Mr. Kaniki is registered as a Chartered Professional Member of the Australasian Institute of Mining and Metallurgy MAusIMM CP (Geo) (Reg. No 221963/07) and has reviewed and approved the contents of this news release.