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| | Wed Nov 15, 2006
Tanzanian Royalty Reports Significant Assay Results From MDN Drill Program in Tulawaka Mine Area of Tanzania
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| | The Company is pleased to announce that it has received assay results from a 2,689 metres Reverse Circulation (RC) drilling program conducted by MDN Northern Mining (MDN) on its 102.9 km² Nyantimba licenses 15 kilometres north of the Tulawaka gold mine in Tanzania. In September and October of 2006, MDN tested several gold targets with 53 RC holes as a follow-up to last year's Rotary Air Blast (RAB) program which produced a significant discovery in the Viyonza zone.
Commenting on the latest results Tanzanian Royalty Chairman and CEO, Jim Sinclair said: "Last year's discovery by MDN and its subsequent enhancement with further drilling is a testament to the company's exceptional exploration capabilities and its bright prospects for the future."
The best intersections from the RC drill program as reported by MDN are listed below.
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Drill hole From To Length Grade
(m) (m) (m) (g/t Au)
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NTRC-06 25 27 2 13.18
NTRC-07 4 5 1 4.13
NTRC-08 4 6 2 1.04
NTRC-09 40 42 2 1.45
NTRC-10 13 14 1 1.07
NTRC-10 33 34 1 2.79
NTRC-19 5 6 1 4.16
NTRC-20 4 6 2 1.12
NTRC-21 1 4 3 2.12
NTRC-22 23 24 1 8.01
NTRC-23 15 16 1 1.49
NTRC-25 4 7 3 17.15
NTRC-26 4 6 2 35.95
NTRC-38 7 8 1 2.32
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The fact an RC drill rig was utilized for this phase of drilling precludes the accurate determination of true width and orientation of the mineralized intersections.
According to MDN: "In a lateritic environment, there is often secondary lateral dispersion of the gold in the ferricrete, an indurated flat lying iron oxide-rich unit near surface. Half of the intercepts in this program come from surface dispersion in the ferricrete but the other intersections come from primary quartz veins and altered host rocks."
MDN believes this feature indicates the presence of a significant gold system in an area of 300 metres by 200 metres that is still open and warrants further follow-up.
Analysis
Samples were analyzed by fire assay at the Mwanza SGS laboratory (Tanzania). A systematic program of analytical grade verification implemented by MDN returned satisfactory results.
Qualified Person
The drilling was carried out under the management of geologist Brian Lloyd, and supervised by Dominique Fournier, Ph.D., who acted as a qualified person in accordance with NI 43-101.
Respectfully Submitted,
"James 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 permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms on this news release, such as "measured", "indicated", and "inferred" "resources" that the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 20-F, File No. 0-50634, which may be secured from us, or from the SEC's website at http://www.sec.gov/edgar.shtml. |
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