Target Exploration & Mining Corp.
TSX VENTURE : TEM

Target Exploration & Mining Corp.

August 14, 2008 09:15 ET

Target Continues to Confirm & Drill Outside of Historic Resource on Bootheel Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 14, 2008) -

NOT FOR DISSEMINATION IN THE UNITED STATES

TARGET EXPLORATION AND MINING CORP. (TSX VENTURE:TEM) (the "Company") is pleased to announce further results from the ongoing drill program on the Bootheel Property in southern Wyoming. Hole 01-3004 was drilled beside a historic hole to confirm historic results, and the other three holes highlighted below are exploration holes drilled on the outskirts of the historic resource area and should aid in adding pounds to an anticipated NI 43-101 compliant resource.

- 0.056% eU3O8(i) over 14.0 feet in hole 01-3004

- 0.030% eU3O8(i) over 33.0 feet in hole 36-3035

- 0.034% eU3O8(i) over 8.0 feet and 0.046% eU3O8(i) over 4.5 feet in hole 01-3040

- 0.052% eU3O8(i) over 13.5 feet in hole 01-3044

"We continue to see success from our ongoing drill program in the Shirley Basin," says Stewart Wallis, President of the Company. "Not only are we continuing to drill holes that appear to confirm the historic grades and thicknesses, but as the drilling pattern extends beyond Section 36, the results are expanding the limits of the known mineralization."

The Company has now completed 23,408 feet of drilling in 44 holes, which includes 640 feet of coring in nine holes. Samples of the core have been sent to ALS Chemex for chemical assays and to Hazen Research Inc. for metallurgical testing. The planned program consists of 50,000 feet of drilling in 80 to 90 holes with the primary goal of confirming historic drill results and bringing the historic resources into National Instrument 43-101 compliance. Investors should note that the holes are not necessarily drilled in numeric order.

Probe highlights of all completed holes, including the exploration holes along with maps and sections showing the areas of drilling, can be found on the Company website at: http://www.target-mining.com/s/ShirleyBasin.asp.

(i)These grades are reported as equivalent uranium (eU3O8) as determined by downhole radiometric logging equipment. The logging is being carried out by an independent contractor, Century Geophysical Corp. of Tulsa, Oklahoma using an S-3000 probe calibrated at the U.S. Department of Energy test facility in Casper Wyoming on June 3, 2008. Core samples from the mineralized zones in the twinned holes will be assayed by standard chemical analysis at an independent registered laboratory. This will allow the determination of the equilibrium status of the uranium in the samples, and thus refine future resource estimates. A comparison of the historical chemical assays and gamma logs concluded that the historical results are likely to be a reliable guide to the mineralization (Technical Report July 8, 2007, filed on SEDAR). Previous operators reported that based on six core holes, the eU3O8 values were 99.8 % of the chemical assays. Based on current knowledge, the mineralized intersections are considered to represent true widths.

The Bootheel Property, together with the Buck Point Property, covers 10,500 acres within the Shirley Basin in southern Wyoming and makes up The Bootheel Project, LLC. The Company and Ur-Energy Inc., through a wholly-owned subsidiary, are the members of The Bootheel Project, LLC. The Company is currently earning a 75% interest in the Project.

About Target

Target is a growing exploration and development company with uranium projects in the US and gold/copper projects in Canada. Its flagship property in the Shirley Basin, Wyoming is a venture LLC with Ur-Energy, Inc. and hosts a significant historical uranium resource. The Company is comprised of a team of professionals with a strong track record of working together to create shareholder value through the identification and advancement of uranium and mineral exploration projects.

Stewart Wallis, P.Geo., President of the Company and a Qualified Person as defined by National Instrument 43-101, has reviewed and is responsible for the technical information contained in this news release.

For more information on the Company and its properties, please visit the website at www.target-mining.com.

ON BEHALF OF THE BOARD

Mark J Morabito, Chief Executive Officer

Cautionary Note Regarding Forward-Looking Information

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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