SOURCE: Tanzanian Royalty Exploration Corp.

September 16, 2008 12:15 ET

Tanzanian Royalty Chairman to Provide Interest Free Advance

SOUTH SURREY, BC--(Marketwire - September 16, 2008) - Tanzanian Royalty Exploration Corporation (AMEX: TRE) Chairman and CEO, James E. Sinclair, has agreed to make available to the Corporation an interest free advance of $500,000 as an interim financing measure between quarterly tranches.

Mr. Sinclair reiterated his commitment to ensure the Corporation remains adequately financed and confirms that additional monies would be made available if required in the future as interest free advances.

Respectfully Submitted,

"James E. Sinclair"
James E. Sinclair
Chairman and Chief Executive Officer

For further information, please contact Investor Relations at 1-800-811-3855. Visit our website: www.TanzanianRoyaltyExploration.com

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 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 Form 20-F, File No. 001-32500. You can review and obtain copies of these filings 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 No. 001-32500, for a more information concerning these risks, uncertainties, and other factors.

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