New Issue: Tanzanian Royalty wraps eighth tranche of C$3 million stock sale

By Devika Patel

Knoxville, Tenn., Feb. 3 - Tanzanian Royalty Exploration Corp. said it will complete an eighth tranche of a C$3 million placement of shares for C$375,000.

James E. Sinclair will buy 79,787 shares at C$4.70 apiece.

Sinclair is buying a total of eight quarterly tranches of common shares with each tranche equaling $375,000. A third tranche settled in November 2007 and a fourth in February. The fifth tranche settled in May and the sixth tranche was completed in August. The seventh tranche settled in January.

This deal was announced on Oct. 11, 2007 for C$2 million and was upsized to C$3 million.

Proceeds will be used for working capital.

Tanzanian Royalty is a gold exploration company based in South Surrey, B.C.

Issuer:	Tanzanian Royalty Exploration Corp.
Issue:	Common shares
Amount:	C$3 million
Warrants:	No
Investor:	James E. Sinclair
Announcement date:	Oct. 11, 2007
Settlement dates:	Third tranche: Nov. 13, 2007 (for C$375,000)
	Fourth tranche: Feb. 5, 2008 (for C$375,000)
	Fifth tranche: May 1, 2008 (for C$375,000)
	Sixth tranche: Aug. 1, 2008 (for C$375,000)
	Seventh tranche: Jan. 2, 2009 (for C$375,000)
	Eighth tranche: Feb. 3, 2009 (for C$375,000)
Stock symbol:	Toronto: TNX
Stock price:	C$5.76 at close Oct. 10, 2007

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