Tanzanian Royalty Announces Change of Auditor

TORONTO, ONTARIO--(Marketwired - Feb. 15, 2016) - Tanzanian Royalty Exploration Corporation (TSX:TNX)(NYSE MKT:TRX) (the "Company") announces that it has changed its auditor from Ernst & Young LLP, Chartered Accountants, (the "Former Auditor") to Dale Matheson Carr-Hilton Labonte LLP, Chartered Professional Accountants (the "Successor Auditor").

There were no reservations in any auditor's reports for the two most recently-completed fiscal years or for any period subsequent to the most recently-completed period for which an audit report was issued and preceding the date of the Former Auditor's resignation. There were no reportable events between the Company and the Former Auditor.

The Notice of Change of Auditor, together with the letter from the Former Auditor and the letter from the Successor Auditor have been reviewed by the Company's audit committee and board of directors and are filed on SEDAR.

Respectfully submitted,

James E. Sinclair

Chief Executive Officer

The Toronto Stock Exchange and NYSE Amex Equities have not reviewed and do not accept responsibility for the adequacy or accuracy of this release.