Interest in River Diamonds

Templar Minerals Limited
11 October 2007



For immediate release

                                                                 11 October 2007


                            Templar Minerals Limited
                     ("Templar Minerals" or the "Company")


     Templar Minerals acquired 24.8 per cent interest in River Diamonds Plc

Templar is pleased to announce that it has today acquired 250,000,000 ordinary
shares in AIM-traded River Diamonds Plc ("River Diamonds") pursuant to a private
placement conducted by River Diamonds (the "Placement Shares"). Together with
Templar's existing holding of 20 million ordinary shares in River Diamonds,
Templar owns in aggregate 270 million River Diamonds ordinary shares
representing 24.8 per cent. of River Diamonds' issued share capital.

Templar subscribed for the Placement Shares at a price of 1.5p per River
Diamonds ordinary share, for a total consideration of £3,750,000, which was
financed from the Company's existing cash balances.

River Diamonds (AIM: Symbol "RVD") is an AIM traded diamond and gold exploration
and development company and on the basis of the enlarged share capital of River
Diamonds following completion of the placement, is capitalised at approximately
£24.8 million.

River Diamonds recently announced that it had increased its ownership from 12.5
per cent. to 19 per cent. of the Emperor Gold Mine in Fiji.

The Emperor Gold Mine is one of the longest continuously operating high grade
mines in the world with an operational  history that extends over 70 years. The
mine commenced production in 1936 and has produced approximately 7 million 
ounces of gold. The mine was placed on care and maintenance in December last
year due to corporate problems with its  previous owner's gold hedging book and
non related issues. The Directors believe that these issues no longer impact the
Emperor mining operations and the expected re-commissioning of the mine later
this year.

As announced by River Diamonds on 4 October 2007, the Emperor Gold Mine had a
JORC approved underground delineated gold  reserve as at December 2006 of
858,000 ounces within a total gold resource of 4.76 million ounces. There are an
additional 250,000 ounces of gold in mine tailings. On 4 October 2007, River
Diamonds further announced that Vatukoula  would probably re-commence ore
extraction over the coming weeks resulting in a planned start-up of the
processing plant  towards year end and gold output early next calendar year.

David Lenigas, Chairman of Templar Minerals and a former Manager of the Emperor
Gold Mine (1989-1992) said:

"Emperor has the capacity to produce in excess of 100,000 ounces per year and
following a streamlining exercise will be far more cost efficient than the
situation that has prevailed over the past decade once it re-enters production."

"Templar looks forward to participating in the management expertise and capital
funding of Emperor as the mine and ownership progress."

In the year ended 31 August 2006, River Diamonds turnover and loss before
taxation amounted to £67,429 and £(924,783) respectively. As at the same date,
River Diamonds net assets amounted to £1,138,606. The acquisition is not
expected to have a material impact on Templar's earnings in the current year.


NOTES TO THE EDITOR

Background on the Emperor Gold Mine.

As of December 2006, the Emperor Gold Mine had a JORC approved underground
delineated gold reserve of 2.34million tonnes grading 11.4 g/tonne for 858,000
ounces within a total resource of 16.2 million tonnes grading 9.1g/tonne for
4.76 million ounces underground. There are an additional 250,000 ounces gold in
mine tailings from 5.18 million tonnes grading 1.5g/tonne. These reserves have
been calculated using a US$447 per ounce gold price.

At the mine site there is a one-million tonne process facility, which includes
crushing, grinding, flotation, roaster, CIP and two tailings dams. Equipment at
the mine several Toro load-haul-dump vehicles, jumbo rigs, support trucks and
all the other associated equipment. Infrastructure includes a 20 Mega-watt power
station, freehold land, and over 100 houses and buildings with appropriate
amenities. Other assets in Fiji include a deep water port of entry and a tank
farm.

The Emperor Gold Mine assets include four mining areas with three shafts
serviced by recently refurbished mine winders, pumps, hoists and associated
equipment necessary to operate a 140,000 ounce per year underground mining
operation. On surface there is an estimated A$6 million in stores stock, A$3
million in new mining machines still in stock, five diamond drills, workshops,
housing, offices, laboratories and all the associated infrastructure to operate
the mining operation. Additionally there is an extensive exploration portfolio.

The Emperor Gold Mine is one of the longest continuously operating high grade
mines in the world with an operational history that extends over 70 years. The
mine commenced production in 1936 and has produced over 7 million ounces.


Qualified Person

Kiran Morzaria B.Eng (ACSM), (FGS), MBA, the Finance Director of River Diamonds,
has reviewed the information contained in this announcement which relates to
River Diamonds. Kiran holds a Bachelor of Engineering (Industrial Geology) from
the Camborne School of Mines and an MBA (Finance) from CASS Business School.
Kiran is the Finance Director of River Diamonds.




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