Tanzanian Royalty Announces Progress Report on its Buckreef Property

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 6, 2014) - Tanzanian Royalty Exploration Corporation (TSX:TNX)(NYSE MKT:TRX) is pleased to report on progress at Buckreef open cut gold operation.

Two key Permits have been granted to its Buckreef Mining subsidiary for blasting and chemical processing prerequisite for production plans at the company's open cut area above the historical underground production workings. The permits are "Certificate of Registration of Premise" and "Certificate Holder of Ten Chemicals for Processing Operations". The permits are issued by the Government Chief Chemist, Geita Zone and the Geita Zonal Mines Office.

Plant, earth moving equipment and power back up generation is now at the Buckreef camp. No further permits or licences are required. Power will be brought into camp from the nearby (1km) Tanesco standing power lines. Operations will commence as soon as plant construction is completed.

Respectfully Submitted,

James E. Sinclair, President and CEO

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.