Target Exploration & Mining Corp.

Target Exploration & Mining Corp.

June 26, 2008 09:15 ET

Target Intersects 0.06% eU3O8(1) Over 19.0 Feet and in Multiple Stratigraphic Horizons

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 26, 2008) -


TARGET EXPLORATION AND MINING CORP. (TSX VENTURE:TEM) (the "Company") is pleased to release further results from the ongoing drill program on the Bootheel Property in southern Wyoming. All five twin-holes drilled in the southeastern most area of the historical resource have intersected uranium mineralization.

- 0.037% eU3O8(1) over 27.0 feet in hole 06-3007

- 0.055% eU3O8(1) over 51.0 feet in hole 06-3008(2)

- 0.06% eU3O8(1) over 19.0 feet in hole 06-3009

- 0.132% eU3O8(1) over 4.0 feet and

0.068% eU3O8(1) over 14.5 feet in hole 06-3010

- 0.057% eU3O8(1) over 16.5 feet in hole 06-3011

(2) previously released

Uranium mineralization in this area of the Bootheel Property has been known to be hosted primarily within the Sundance Formation, but the upper intersection in hole 06-3010 confirms that uranium is also hosted within the Wind River Formation in this area.

"It is very exciting to see that uranium has been intersected in multiple stratigraphic horizons in this area of the property," says Stewart Wallis, President of the Company. "In addition, these drill results continue to show similar thicknesses and grades of mineralization to the historical results."

The 50,000 foot, 80 to 90 hole, drill program is aimed at confirming historical drill results and bringing the historical resources into National Instrument 43-101 compliance. In addition, the program is designed to use the extensive database of historical information to expand the areas of previous mineralization through exploration drilling. Uranium mineralization in the area is hosted in sandstone units, which have the potential to be mined using in-situ recovery techniques (ISR). ISR is an environmentally friendly, economical method of recovering uranium. 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 equilibrium status of the uranium in the samples to be determined, 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 (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 results of all completed holes to date along with maps and sections showing the areas of drilling and historical resources 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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