Drilling Update

7 Feb 2006 09:00

Tanzanite One Limited07 February 2006 Tanzanite One Limited AIM: TNZ TANZANITEONE RELEASES DRILLING UPDATE TanzaniteOne, the vertically integrated tanzanite mining and marketing group,today releases an update with regards to its recent drilling programme.TanzaniteOne has been undertaking exploration activities on a number of frontsat its mine in Merelani, Tanzania over the last three months. The objective ofthe programme was to test the presence of mineralisation at extensively greaterdepths than the current known ore body. The drilling programme shows that the Lower Horizon, which hosts the economicmineralisation, has been intersected at depths twice those previously known.This suggests that the inferred resource and therefore the life of the mine atcurrent production rates may be significantly increased. The Directors of TanzaniteOne believe that this potential increase in economicmineralisation supports its innovative marketing strategy, Be Born to Tanzanite,which positions tanzanite as 'the' birth stone and positions it with celebratingthe birth of a child. Ian Harebottle, Chief Operating Officer of TanzaniteOne, commented on theseresults as follows: "Whilst we were always confident of the highly prospective nature of theMerelani mine, these results show that the economic potential is far higher thanour exploration programme had identified 12 months ago. As a result, tied inwith our expanded marketing programme to the US and Europe, we believe thatincreased throughput at the mine will result in future revenue growth beyondthat announced to the market earlier." For further information regarding this announcement, please contact: Tanzanite One SA Limited Ian Harebottle, Chief Operating OfficerRenata da Silva, Corporate Affairs+27 84 601 5557 Conduit PR Leesa Peters+44 781 215 9885 This information is provided by RNS The company news service from the London Stock Exchange