Tanzanian Royalty Exploration Corporation (TSX:TNX)(NYSE American:TRX)(NYSE MKT:TRX) hereinafter (the “Company”) is pleased to provide an update on the excellent international relations between the Company and the United Republic of Tanzania, together with an update on the outstanding progress on the Buckreef Project mine layout.
“Our relationship with Tanzania is excellent. The dedicated commitment of the Company and the nation of Tanzania have resulted in great progress in our moving forward toward commercial gold production. We are very pleased to have moved beyond any issues of the past and into an amicable, productive and emerging prosperous relationship with Tanzania and for our shareholders. It is very gratifying that we are moving forward with the support of the Tanzanian government and its people,” said Jeffrey R. Duval, Acting Chief Executive Officer.
Acting CEO Duval returned this week from travel to Tanzania. The travel and work included the assessment and inspection of the progress achieved in the mine layout at the Buckreef Project, together with numerous business meetings, and a reception for Tanzanian national dignitaries, renowned local leaders and members of the public. The reception was held at the Buckreef Project Mine, where the Hon. Minister Angellah Kairuki and the Hon. Deputy Minister Stanslaus Nyongo attended together with a large government delegation, including the Chairman of STAMICO, Amb. Alexander A. Muganda. The Buckreef Project was explained by Peter Zizhou, General Manager for the Company, and a tour of the mine followed. The reception revealed the success of the international relations efforts on the part of Tanzania and the Company.
“The dedication of our management and the commitment of Tanzania through its officials and its agent, STAMICO have made our exceptional relationship possible. Where other industrial operations have had issues, we have made significant strides. Where some in our industry have had some struggles with reaching detente, our Company has achieved a formidable and valuable working relationship with the nation of Tanzania and its people which is not only solid, but friendly. We are very excited by our progress in our international relations, but also our progress on the ground with the Buckreef Project mine layout,” stated James E. Sinclair, Executive Chairman.
The Company donated one hundred and five school desks to the local school district in honour of the occasion.
Chief Operating Officer Giancarlo Volo arranged for an aerial video of the site and the reception. The video is available at the links below, on the Company web page, and on YouTube.
“The video shows the substantial progress we have made in the Buckreef mine layout in preparation for the next phase of development. The aerial views provide a look at the transformation of the site from all sides and shows our hard work and readiness for continued mining operations. We are preparing for the final stage of development and very pleased with our progress,” said Mr. Volo. Operational Updates are found on the Company’s website in the Blog section, and have been updated throughout 2017.
Our technical executives and Project Manager Peter Zizhou showed a detailed power point to the prestigious gathering and all questions were answered.
The Company is pleased to provide this information for your consideration and review. Thank you for your time and attention.
For more information and updates, please see the Company website at: www.tanzanianroyalty.com
James E. Sinclair, Executive Chairman