Target Exploration & Mining Corp.
TSX VENTURE : TEM

Target Exploration & Mining Corp.

August 31, 2007 14:02 ET

Target Amends Stock Option Plan, Grants Options

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 31, 2007) -

NOT FOR DISSEMINATION IN THE UNITED STATES

TARGET EXPLORATION AND MINING CORP. (TSX VENTURE:TEM) (the "Company") announces that it has amended its stock option plan to increase the number of options available for grant from 1,385,554 to 2,317,789 and to allow for the extension of options by up to ten business days in the event that an option expires during a time when the Company's directors, employees and consultants are subject to a Company imposed black out period. The amended stock option plan is subject to the approval of the TSX Venture Exchange and the Company's shareholders.

The Company has also granted to employees and officers options to purchase up to an aggregate of 741,633 common shares. The options have an exercise price of $1.00 per share, expire on August 30, 2012 and vest over a two year period.

ON BEHALF OF THE BOARD

Mark J Morabito, Chief Executive Officer

This news release contains "forward looking information" that is based on the Company's current expectations, estimates, forecasts and predictions. This forward looking information includes, among other things, statements with respect to exploration, mineralization, business plans, outlook and intended use of proceeds. The words "may", "would", "could", "should", "will", "likely", "expect", "anticipate", "intend", "estimate", "plan", "forecast", "project" and "believe" or other similar words and phrases are intended to identify forward looking information.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of the content of this News Release.

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