Florida-based Investment Fund Increases Share Position in Tanzanian Royalty to 10.3% Through Open Market Purchases
Connecticut Office: Form 20-F, File No. 001-32500
93 Benton Hill Road Trade Symbol:
Sharon, CT 06069 TSX: TNX Tel: (860) 364-1830 NYSE Amex Equities: TRE Fax: (860) 364-0673 South Surrey Office:
Suite 404 – 1688 152nd Street South Surrey, BC V4A 4N2 Toll Free: 1-800-811-3855 Email: [email protected] Tel: (604) 536-7873 Website: www.TanzanianRoyalty.com Fax: (604) 536-2529
News Release - May 2, 2011
Florida-based Investment Fund Increases Share Position in Tanzanian Royalty to 10.3% Through Open Market Purchases
The Company wishes to announce that Geier International Strategies Fund LLC has disclosed through an SEC filing that it now owns 10.3% or 9,681,791 shares of Tanzanian Royalty Exploration Corporation.
The Florida-based investment fund increased its shareholding through open market purchases from 8.77% or approximately 8.2 million shares as reported in its SEC filing in December 2010.
According to James E. Sinclair, President and CEO of Tanzanian Royalty, “The open market purchases by Geier International represents a strong vote of confidence in the Company and its program to develop commercial gold production in Tanzania from its Buckreef Gold Mine Re-development Project. We are confident of a long and mutually rewarding relationship with Geier and its investment team.”
Respectfully Submitted, James E. Sinclair James E. Sinclair President and Chief Executive Officer
For further information, please contact Investor Relations at 1-800-811-3855 Visit our website: www.TanzanianRoyalty.com
The Toronto Stock Exchange and NYSE Amex Equities 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 more information concerning these risks, uncertainties, and other factors.