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Re: News Release - Friday, June 22, 2007
Tanzanian Royalty Chairman to Advance C$1,500,000
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Tanzanian Royalty announces that Mr. James E. Sinclair, Chairman and
CEO, will make an interest free advance to the Corporation of
$1,500,000, having advanced today $1,100,000, and a further $400,000 to
follow by June 29, 2007. As previously announced, Mr. Sinclair has
agreed to purchase common shares of the Corporation representing an
aggregate value of $3,000,000. Such shares are to be purchased in eight
quarterly tranches of $375,000 each, the first tranche of which
completed on May 28, 2007. Including this $1,500,000 advance, Mr.
Sinclair's interest free advances to the Corporation total $3,117,000
which is to be applied towards the aggregate $3,000,000 private
placement and an interest free loan in the amount of $117,000.
Each tranche is subject to regulatory approval.
Respectfully Submitted,
"James E. Sinclair"
James E. Sinclair Chairman and Chief Executive Officer
For further information, please contact Investor Relations at
1-800-811-3855 Visit our website: www.TanzanianRoyaltyExploration.com
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 No.
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 No. 0-50634, for a
more information concerning these risks, uncertainties, and other
factors.
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Copyright (c) 2007 TANZANIAN ROYALTY EXPLORATION CORPORATION (TNX) All
rights reserved. For more information visit our website at
http://www.tanzanianroyaltyexploration.com/ or send
mailto:info@tanzanianroyaltyexploration.com
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