Tanzanian Royalty Exploration Corporation Announces Name Change From Tan Range Exploration Corporation

Vancouver, Canada (ots/PRNewswire) - Tanzanian Royalty Exploration
Corporation (TSX: TNX, AMEX: TRE) (the "Company") announces that it
has changed its legal name from Tan Range Exploration Corporation.
The change was approved by shareholders at the Company's Annual and
Special Meeting held on February 27, 2006 in Toronto and by the
Toronto Stock Exchange and the American Stock Exchange effective
today.

"Our new name, Tanzanian Royalty Exploration Corporation, more
accurately reflects the Company's strategy of producing unencumbered
royalty income through exploration and investment in gold and other
prospective mineral properties in the Republic of Tanzania," said
James E. Sinclair, Chairman and Chief Executive Officer of the
Company.

"In the past year, we have made significant progress towards
realising our objective of becoming a royalty company," he added. "By
utilising our own drilling equipment and crews, we now have the
capacity to develop the mineral potential on our holdings in a timely
and cost-efficient fashion. And our capacity to discover world-class
mineral deposits is further leveraged by royalty agreements we have
with Barrick, Ashanti Goldfields and Northern Mining Explorations,"
he said.

The Company will maintain its existing trading symbols on the TSX
and AMEX exchanges, those symbols being TNX and TRE. The new
CUSIP/ISIN number is 87600U104/CA 87600U1049. Shareholders are not
required to exchange their existing share certificates for new
certificates bearing the new Company name and CUSIP/ISIN number.

The Toronto Stock Exchange nor American Stock Exchange have not
reviewed and does not accept responsibility for the adequacy or
accuracy of this release.

Cautionary Note to US Investors - The United States Securities and
Exchange Commission permits US 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 US registered
companies from including in their filings with the SEC. US 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.

ots Originaltext: Tanzanian Royalty Exploration Corporation
Im Internet recherchierbar: http://www.presseportal.de

Contact:
Investor Relations at +1-800-811-3855; Visit the Tan Range website:
www.tanrange.com; To request a free copy of this organisation's
annual report, please go to http://www.newswire.ca and click on Tools
for Investors.