TNX TRX Gold Corporation

Tanzanian Royalty Exploration Corporation (TSX:TNX)(NYSE MKT:TRX) is pleased to
provide an update on its Gold Mine Development activities at its Buckreef
Re-development Gold Project, located in the Lake Victoria Goldfield of Tanzania.
Construction activities began at Buckreef in December 2013, immediately
following the approval of the project Environmental Impact Study by National
Environmental Management Council (NEMC) with substantial progress to date. 


The civil construction contract was awarded to Yale-Constech Company Limited.
Yale-Constech provides construction and mining services to the mining industry
in Tanzania, including African Barrick Gold at three of its mines in Tanzania.
The civil construction stage of the Project, now underway, is being undertaken
in two phases, as follows:-


Heap Leach Phase 1:- (1) preparation of sketch designs, architectural drawings,
structural drawings and all other detailed plans; (2) obtaining all necessary
permits and approval from Government Authorities or Regulatory and Professional
bodies, (3) earth works, which include construction of the Heap Leach Pad and
Boundary Retaining Wall as per the approved sketch designs and structural
drawings.


Heap Leach Phase 2:- gravel works, installation of pipes and installation of
high-density polythelyene Primary and Secondary Liners as per the approved
sketch designs and structural drawings.


In advance of the commencement of Heap Leach Phase 1 construction, the Company
undertook the following preparatory work: 




--  100 percent of the heap leach pad design work and site layout plan was
    completed and approved by the Contractor Registration Board (CRB). 
--  100 percent of the earthworks related to the bush clearing of the 90,000
    square metre run- of-mine (ROM) pad and 70 percent of the air strip
    rehabilitation were completed; the interconnecting roads, which include
    the haul road, is in progress.  
--  Civil work related to the plant site for the adsorption/desorption gold
    processing plant has been commenced. 
--  The application for a Water Use Permit was submitted to the Lake
    Tanganyika Basin Water Board, which has granted the Company the
    Provisional Water Use Permit while other steps for processing the final
    permits are underway. This provisional permit will allow the Company to
    use the water until the permanent permit is granted. 
--  The removal of the scrap metal, pieces of waste timber and other
    unclassified waste from the demolished old plant site is nearing
    completion. 
--  The contract for the electricity power line to the camp was awarded to
    Agape Enterprises Company Limited. The contractor has mobilized all the
    equipment and the work is in progress. 
--  Tanzanian Royalty also increased the inventory and capacity of its heavy
    earth moving equipment by purchasing two used D6 bulldozers to
    accelerate mine site development. 



To view the map accompanying this press release please click on the following
link: http://media3.marketwire.com/docs/TNX0416.pdf 


Mined ore is planned to be loaded onto the pad in May/June 2014, with irrigation
commencing in August. In addition, and to maximize production capacity, the
Company's existing gravity separation plant is currently being installed on
site, and is expected to be fully operation-capable within a few weeks.


Currently, the project employs 60 people of which 32 people are from local
communities located within a 10km radius of the project. A total of 44,640
person hours have been worked to date and the Company is pleased that there has
been only one minor lost time incident.


James Sinclair, Tanzanian Royalty President and CEO stated, "A tremendous amount
of work has been accomplished at Buckreef during the past four months. It is a
credit to the talent, capability and focus of Tanzanian Royalty management,
staff and contractors who have worked as a close-knit team with the objective of
achieving gold production as quickly and safely as possible."


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.


Respectfully submitted,

James E. 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.


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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