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| | Wednesday, May 21, 2008
Target To Commence Drilling On Bootheel Uranium Property
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TARGET EXPLORATION AND MINING CORP. (TSX.V: TEM) (the "Company") is pleased to announce that a 50,000 foot (ft) drill program in 80 to 90 holes using two drill rigs will commence in early June on the Bootheel Property in southern Wyoming. The program will consist of exploration and confirmation drilling with the goal of confirming historical drill results and bringing the historic resources into National Instrument 43-101 compliance. The exploration/delineation drilling is based upon the compilation of the extensive database, which indicates that the mineralization occurs in at least seven distinct stratigraphic horizons, all of which remain to be explored.
The Bootheel Property is host to historic resources of nearly 11 million pounds*, which were defined by exploration work conducted in the 1970s. The uranium mineralization, which is in roll front settings and up to 500 ft wide, 25 ft thick with an average grade of 0.044% U3O8, has the potential to be mined using in-situ recovery mining methods. These methods 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.
"We are very excited to begin drilling at Bootheel now that the extensive data compilation program has been completed", says Stewart Wallis, President of the Company. "Bringing the historic resources into National Instrument 43-101 compliance is a top priority for the Company. Furthermore, we will be commencing baseline studies at this time, which will allow us to fast track the property through the feasibility process, should sufficient resources be confirmed."
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.
*These resources were reported by Nuclear Assurance Corporation in 1982 and are historical in nature. The categories of mineralization used are not those prescribed by the Canadian Institute of Mining, Metallurgy and Petroleum and stipulated in National Instrument 43-101 but would correspond to indicated and inferred resources under those guidelines. As was industry standard for reporting in the 1980s, tonnages are not provided in the original data. The data are reported using a minimum grade of 0.02% eU3O8 and a grade times thickness (GT) of 0.12. Investors are cautioned that the Company has not completed sufficient exploration to verify the data and the historical estimates should not be relied upon.
Maps and sections showing the area of proposed drilling can be found on the Company website at: http://www.target-mining.com/s/ShirleyBasin.asp.
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
Target Exploration & Mining Corp. -- Vancouver
T: 604-681-8030
F: 604-681-8039
E: investor@target-mining.com
www.target-mining.com
NOT FOR DISSEMINATION IN THE UNITED STATES
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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