Tanzanian Royalty Announces the Sale of Common Shares of $885,734

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TORONTO, Jan. 12, 2019 (GLOBE NEWSWIRE) -- Tanzanian Royalty Exploration Corporation's (TSX:TNX) (NYSE MKT:TRX) (the "Company’s”) Board of Directors is pleased to announce the entering into subscription agreements for the sale of 3,924,386 common shares raising $885,734 in the aggregate with two investors.

The proceeds from the sale of common shares will be used in furtherance of the Company’s Three-Phase Drill Program at the Buckreef Project previously announced.

The common shares are being offered pursuant to an effective shelf registration statement on Form F-3, that was previously filed with the Securities and Exchange Commission and declared effective on September 5, 2018. The sale of the common shares is expected to close on or before on January 16, 2019, subject to the satisfaction of customary closing conditions, including acceptance of the listing of the common shares by the NYSE American and the Toronto Stock Exchange.

Respectfully Submitted,

"James E. Sinclair"

James E. SinclairExecutive Chairman

For further information, please contact Michael Martin, Investor Relations, , 860-248-0999, or visit the Company website at   

CONNECTICUT OFFICE:         PO Box 577   Sherman, CT     U.S.A.   06784                   Fax: (860) 799-0350

TORONTO OFFICE:82 Richmond Street WestSuite 208Toronto, Ontario M5C 1P1Toll Free (844) 364-1830www.TanzanianRoyaltyExploration.com

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Globe Newswire: 02:20 GMT Sunday 13th January 2019

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