Exploration Update

Templar Minerals Limited
05 March 2008






5 March 2008


                            Templar Minerals Limited

                     ("Templar Minerals" or "the Company")


                               Exploration Update


   • Drilling commences at the Adjaria Gold Project - Republic of Georgia


   • Further encouraging exploration results from the Adjaria Gold Project.


   • Contract for 6,000 metres of drilling signed.


   • Two sulphide mineral intersections in the first borehole of 11.2 and 3.1
    metres width.


   • Evidence of a potential base metal resource in addition to the
    previously reported gold results


Templar Minerals, the gold and base-metal exploration and production company
with operations in Fiji and the Republic of Georgia, gives the following
exploration update for its Adjaria Gold in the Republic of Georgia. Historic
non- JORC compliant Russian resource estimates indicated a total mineral
resource for the Adjaria Project of: Copper 74,800 tonnes, Lead 15,000 tonnes,
Zinc 11,000 tonnes, Gold 0.652 tonnes and Silver 15.1 tonnes.


The Company has commenced Phase 1 of the HQ diamond drilling program on the Vaio
deposit of the Adjaria Project. Spektra Jester, a drilling company based in
Ankara, Turkey, has been contracted to complete a 6,000 metres Phase 1 HQ core
drilling program. The first diamond drill hole on the Vaio deposit has been
completed to 240 metres. The diamond drill core contains two sulphide mineral
intersections between 72.5 and 83.7 metres and between 159.2 and 162.3 metres
depth. In addition to drilling, historical exploration adits and trenches are
being accessed to further sample the orebody.


Further to the initial gold exploration results announced on 13 November 2007,
the Company is pleased to announce additional results of the analysis of rock
chip samples. Continuous channel sample assay results across the Vaio orebody
include:


   • Six continuous metres that average 1.38 % Zn, with a maximum of 6.20 %
    Zn
   • Two continuous metres that average 2.30 % Zn, with a maximum of 2.67 %
    Zn
   • Three continuous metres that average 2.67 % Zn, with a maximum 4.39 % Zn
   • Three continiuous metres that average 31 g/t Ag, with a maximum 42 g/t
    Ag
   • One metre at 94 g/t Ag
   • One metre at 160 g/t Ag
   • Five metres averaged 22.8 g/t Ag, maximum 49 g/t
   • Five metres averaged 13 g/t Ag, maximum 44 g/t

These results further confirm the early work by the Russian and Georgian
Geologists and will assist in targeting the best mineralization within the Vaio
area. There is evidence from the geochemistry that a potentially economic
polymetallic mineralizing system consisting of gold, silver other base metals is
present in the Adjaria project area. It is anticipated that the drilling will
indentify a series of continous structurally controlled ore bodies that can be
developed into a tangible mineral resource.


Furthermore, approximately 600 channel samples have been collected over a
further three target orebodies in the Adjara project area, guided by previous
Russian and Georgian exploration results. These samples have been submitted to
the ISO certified ALS Chemex laboratories (in Rosia Montana, Romania; Izmir,
Turkey and Vancouver, Canada for Gold and Base Metal) for analysis. Results are to
be reported on in due course.


The information contained in this announcement has been reviewed by Keith Kenyon
AUS IMM, Geochemical Consultant to Templar Minerals. He is the Qualified Person
overseeing the geochemical exploration at the Adjaria Gold Project. Mr. Kenyon
has 36 years experience in gold exploration and geochemistry and he is
undertaking to act as a Qualified Person for the purposes of this announcement.



GLOSSARY

+---------------+--------------------------------------------------------------+
|Geochemistry   |The study of the chemistry of geological materials            |
+---------------+--------------------------------------------------------------+
|Multi-element  |Techniques of chemical analysis whereby many elements are     |
|analysis       |analysed at the same time,                                    |
+---------------+--------------------------------------------------------------+
|Au             |Gold                                                          |
|               |                                                              |
|Ag             |Silver                                                        |
|               |                                                              |
|Zn             |Zinc                                                          |
+---------------+--------------------------------------------------------------+
|Base Metals    |A metal which oxidises when heated in air, e.g. lead, nickel, |
|               |copper, tin, zinc, as opposed to noble metals such as gold and|
|               |platinum.                                                     |
+---------------+--------------------------------------------------------------+
|g/t            |Grams per tonne                                               |
|               |                                                              |
|               |                                                              |
+---------------+--------------------------------------------------------------+
|HQ Core        |Core from a Diamond drill hole that is 63.5 mm in diameter    |
+---------------+--------------------------------------------------------------+
|Polymetallic   |A mineral deposit consisting of polymetallic ore is the source|
|Mineral Deposit|of more than one metal suitable for recovery                  |
+---------------+--------------------------------------------------------------+



Contacts:

Templar Minerals
David Lenigas, Chairman               Tel:[phone]


Beaumont Cornish
Roland Cornish, 
Rosalind Hill Abrahams                Tel: [phone]

Financial Dynamics                    Tel + 44 (0) 20 7831 3113
Ben Brewerton


Forward-Looking Statements:


This press release contains statements that are "forward-looking". Generally,
the words "expect," "intend," "estimate," "will" and similar expressions
identify forward-looking statements. By their very nature, forward-looking
statements are subject to known and unknown risks and uncertainties that may
cause our actual results, performance or achievements, or that of our industry,
to differ materially from those expressed or implied in any of our
forward-looking statements. Statements in this press release regarding the
Company's business or proposed business, which are not historical facts, are
"forward looking" statements that involve risks and uncertainties, such as
estimates and statements that describe the Company's future plans, objectives or
goals, including words to the effect that the Company or management expects a
stated condition or result to occur. Since forward-looking statements address
future events and conditions, by their very nature, they involve inherent risks
and uncertainties. Actual results in each case could differ materially from
those currently anticipated in such statements.


Investors are cautioned not to place undue reliance on forward-looking
statements, which speak only as of the date they are made.




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