Target Exploration & Mining Corp.

Target Exploration & Mining Corp.

June 13, 2008 09:23 ET

Target Intersects 0.055% eU3O8 Over 51 Feet on Bootheel Uranium Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 13, 2008) -


TARGET EXPLORATION AND MINING CORP. (TSX VENTURE:TEM) (the "Company") is pleased to announce the initial results from the ongoing drill program on the Bootheel Property in southern Wyoming. The first few holes were drilled in areas containing historical resources and are highlighted by twin holes 36-3000, 01-3005, and 06-3008. Two exploration holes have also intersected mineralization.

- 0.055% eU3O8(1) over 51.0 feet in hole 06-3008

- 0.031% eU3O8(1) over 5.0 feet in hole 01-3005

- 0.042% eU3O8(1) over 23.0 feet in hole 36-3000

"We are very excited by these initial results, which appear to confirm the historical grades and thicknesses of uranium mineralization in the earlier holes", says Stewart Wallis, President of the Company. "This is the first step in bringing the historic resources into National Instrument 43-101 compliance."

The program consists of 50,000 feet of drilling in 80 to 90 holes with the primary goal of confirming historical drill results and bringing the historic resources into National Instrument 43-101 compliance. Additional exploration/delineation drilling is based upon an extensive database of historical information, which indicates that the mineralization occurs in at least seven distinct stratigraphic horizons, all of which have yet to be fully explored. The uranium mineralization has the potential to be mined using in-situ recovery mining methods, which are more environmentally friendly and less expensive than conventional mining methods. A National Instrument 43-101 compliant resource calculation will be completed following the drill program.

(1)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 make up The Bootheel Project, LLC. The Company and Ur-Energy Inc (TSX: URE), through a wholly owned subsidiary, are the members of The Bootheel Project, LLC and the Company is currently earning a 75% interest in the Project.

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:

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


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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