TNX TRX Gold Corporation

Tanzanian Royalty Exploration Corporation (TSX:TNX)(NYSE MKT:TRX) - 

Tanzanian Royalty is pleased to provide an updated resource estimate
("Estimate") for the Buckreef Project which has incorporated the results of the
drilling program completed in late 2012. The Estimate has been prepared by
Venmyn Deloitte (Pty) Ltd. ("Venmyn Deloitte") and is in compliance with
National Instrument 43-101 (NI 43-101).


The Buckreef Project consists of two areas: the BRMA (Buckreef Mining Area) and
the BZMA (Buziba-Busolwa Mining Area). As previously reported, together these
two areas had an aggregate NI43-101 compliant Mineral Resource at a 0.5 g/t Au
cut-off grade of Measured Mineral Resources containing 341,000 ounces; Indicated
Mineral Resources containing 1,401,000 ounces; and Inferred Mineral Resources
containing 987,000 ounces. Aggregate Measured and Indicated Mineral Resources
for the two areas at a 0.5 g/t Au cut-off grade contained 1,742,000 ounces of
gold.


The aggregate Estimate for the two areas announced today at a 0.5 g/t Au cut-off
grade, (with changes in brackets) amounts to Measured Mineral Resources
containing 577,500 ounces (+ 236,500 oz; +69.4%); Indicated Mineral Resources
containing 1,848,000 ounces (+ 447,000 oz; +31.9%); Inferred Mineral Resources
containing 824,000 ounces (-163,000 oz; -16.5%). Aggregate Measured and
Indicated Mineral Resources for the two areas at a 0.5 g/t Au cut-off grade
contained 2,425,500 ounces of gold (+683,500 oz; +39.2%).


All the changes between the previous mineral resource estimate and the updated
mineral resource Estimate are in the BRMA area, as this was the focus of the
2012 drilling program. The Mineral Resource estimate for the BZMA area is
unchanged from the previous mineral resource estimate. The BZMA will likely be
the focus of a future drilling program.


Details of the previous and updated mineral resource estimates for the BRMA area
are set out in the tables below.


To view tables visit the following link:
http://media3.marketwire.com/docs/tables_TNX.jpg


As can be seen in the tables above, one of the largest changes between the
previous and updated Mineral Resource Estimate for the BRMA area is the improved
geological confidence and resultant upgrade in classification categories at
Buckreef prospect as well as the definition of a new Mineral Resource in the
Eastern porphyry prospect. Measured and indicated resources for the Buckreef
prospect contain 1,087,000 ounces compared to 563,000 ounces previously
estimated, an increase of 683,500 ounces or approximately 121.4%.


The Company intends to file a NI 43-101 Independent Technical Report for the
updated Mineral Resource Estimate for the BRMA within 45 days of the date of
this news release.


According to James E. Sinclair, President and CEO, "These encouraging results
have increased our confidence in the development potential of the entire
Buckreef Project, including the BZMA prospect now targeted for additional
drilling. I am impressed by the depth and width of the drilling intercepts,
which are characteristic of the more successful projects in Tanzania and will
enhance the project's profile within the industry. As a consequence of the new
resource estimate, we have initiated the process of de-watering the historical
underground Buckreef mine for bulk sampling purposes. The Company congratulates
its capable geological team on this achievement."


Qualified Person

Venmyn Deloitte (Pty) Limited was appointed by Tanzanian Royalty to
independently review the updated mineral resource estimate and to compile a
43-101 compliant Independent Technical Report on the updated mineral resource
estimate. The Qualified Persons are F. Harper B.Sc Hons (Geol), Pr Sci Nat;
MGSSA and A.N.Clay M.Sc (Geol),M.Sc (Min. Eng), Dip.Bus.M, Pr Sci Nat, MSAIMM,
FAusIMM, FGSSA, IOD, SPE, CIMMP, MPMI, and Dale Richards all of whom were
full-time employees of Venmyn Deloitte.


Respectfully Submitted,

James Sinclair, President and Chief Executive Officer

The Toronto Stock Exchange and NYSE MKT LLC 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 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 SEC filings. You
can review and obtain copies of these filings from the SEC's website at
http://www.sec.gov/edgar.shtml 


This news release contains certain forward-looking statements and
forward-looking information. All statements, other than statements of historical
fact, included herein are forward-looking statements and forward-looking
information that involve various risks and uncertainties. There can be no
assurance that such statements will prove to be accurate, and actual results and
future events could differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ materially from the
Company's expectations are disclosed in the Company's documents filed from
time-to-time with the British Columbia, Alberta and Ontario provincial
securities regulatory authorities.


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 SEC filings, including our annual report on Form 20-F and Registration
Statement on Form F-10, as amended, for more information concerning these risks,
uncertainties, and other factors.


Form 20-F, File No. 001-32500

FOR FURTHER INFORMATION PLEASE CONTACT: 
Tanzanian Royalty Exploration Corporation
Investor Relations
1-800-811-3855
investors@TanzanianRoyalty.com
www.TanzanianRoyalty.com

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