Trade Symbol: TSX: TNX AMEX: TRE
VANCOUVER, Dec. 7 /PRNewswire-FirstCall/ -- Tanzanian Royalty wishes to announce that it has realigned its management structure in Tanzania to facilitate an aggressive, multi-phased exploration program on its Kigosi Gold Project in 2008.
The Company's President, John Deane, will now focus his exploration talents exclusively on Kigosi which recently returned the highest grade gold values ever reported from the property. (See November 26, 2007 News Release).
According to Tanzanian Royalty Chairman and CEO, Jim Sinclair, "Deane's in-depth knowledge of Kigosi and its enormous geological potential made him the only choice as Project Manager." "Not only will he bring continuity to this world class exploration project in terms of management and geological decision making, he will maintain his critical role as the Company's president with oversight responsibilities for the remainder of our mineral assets in Tanzania." Coincident with the decision to assign Mr. Deane exclusively to the Kigosi Project, Tanzanian Royalty has appointed Patrick Charles as the Company's new Exploration Manager for Tanzania commencing January, 2008. Mr. Charles holds an M.Sc. in geology from the University of Paris and has completed a Business Management Course at the University of Stellenbosch in South Africa.
He has over 20 years work experience in the exploration industry in various African countries including the Central African Republic, Mozambique, Namibia, Niger, Burkina Faso, South Africa and Ghana. During 2000 and 2001 he was the Assistant to the Senior Vice President Exploration of Anglo American Corporation, Acquisition Division.
"I had the opportunity to work with Patrick early on in my career at the Ondundu Gold Deposit in Central Namibia and know him as a hard working, dedicated geologist whose business management skills will bring much needed support to the management of our increasingly busy exploration office in Mwanza, Tanzania," said Mr. Deane.
"With 154 prospecting licenses in our Tanzanian mineral portfolio - and what will likely be an open-ended exploration budget for Kigosi in 2008 - both Mr. Deane and Mr. Charles will be working closely over the next few months to ensure a smooth transition," added Mr. Sinclair.
Respectfully Submitted, "James E. 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/ DATASOURCE: Tanzanian Royalty Exploration Corporation CONTACT: Investor Relations at 1-800-811-3855; Visit our website: http://www.tanzanianroyaltyexploration.com/
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