Tanzanian Royalty Exploration Corporation is engaged in the exploration and development of mineral property interests. The Company’s mineral properties are located in United Republic of Tanzania. Its subsidiaries include Tanzania American International Development Corporation 2000 Limited (Tanzam), Tancan Mining Co. Limited (Tancan), Buckreef Gold Company Ltd. (Buckreef) and Northwestern Base Metals Company Limited (NWBM). The Company explores or acquires gold or other precious metal concessions through its own efforts or through the efforts of its subsidiaries. The Company’s mineral interests in Tanzania are initially held under prospecting licenses granted pursuant to the Mining Act, 2010 (Tanzania) for a period of up to four years, and are renewable two times for a period of up to two years each. Through its wholly-owned subsidiary, Tanzam, the Company holds a 55% interest in the joint venture company, Buckreef Gold Company Limited, with Stamico holding the remaining 45%.