Investment Update

Templar Minerals Limited
24 January 2008




For Immediate Release                                            24 January 2008


                              Templar Minerals Plc

                          ("Templar" or the "Company")

     Templar notes River Diamonds' Operational Update on the Vatukoula Mine


Templar Minerals, which holds 26% of the issued share capital of River Diamonds
Plc ("River Diamonds") notes the announcement made by River Diamonds on
Wednesday 24 January 2008 confirming that mining commenced at the Vatukoula mine
(also known as Emperor Mine) in Fiji in late 2007.


River Diamonds announced the following details:

Operations have commenced in accordance with the River Diamond's
re-commissioning and mining plan. Rehabilitation of the Decline is complete and
mining has commenced in late 2007. During December 2007, the mine produced 1,211
tonnes of ore at an average grade of 10.59 g/t Au for approximately 412 ounces
of gold from 166N.13/14.

Ore from mining activities is being stockpiled underground while the completion
of maintenance on the crushing and flotation sections of the Treatment Plant is
carried out. It is expected that this maintenance will be completed in February
2008 and processing of underground ores will commence. The mine is currently
employing 450 employees.


The anticipated initial underground mining schedule is as follows:

+---------------------+---------------------------+------------------------+
|Underground Ore Block|Tonnes and Grade Estimates |Estimated start date for|
|                     |                           |mining                  |
+---------------------+---------------------------+------------------------+
|1550 Prince William  |14,014t@21.6 g/t Au        |Early February 2008     |
|Block                |                           |                        |
+---------------------+---------------------------+------------------------+
|1550 Reclaim         |3,110t@17 g/t Au           |Early February 2008     |
+---------------------+---------------------------+------------------------+
|13/14 166N           |28,186t@12.3 g/t Au        |Mining in progress.     |
|                     |                           |Commenced late 2007     |
+---------------------+---------------------------+------------------------+
|15/16 1950L 2000n    |104,061t@9.8 g/t Au        |Late January 2008       |
+---------------------+---------------------------+------------------------+
|14/15/16/1750L CZYPR |34,281t@11.5 g/t Au        |Late January 2008       |
+---------------------+---------------------------+------------------------+
|16/17/1950L MNE      |77,768t @ 9.15 g/t Au      |Mid-February 2008.      |
+---------------------+---------------------------+------------------------+



New mineralised zones

Evaluation of a new mineralised zone is progressing. Channel samples have been
taken from the outcropping "President Dyke" and have returned some excellent
grades including: 7.50m @ 9.32 g/t Au, 7.00m @ 7.70 g/t Au and 5.11m @ 11.38 g/t
Au. The structure is being tested to a depth of 30m by surface drilling. The
President Dyke is in an area which was previously not considered viable due to
its' proximity to the Borthwick ventilation shaft, which prevented access,
however the Phillips shaft is being considered as a viable alternative for
ventilation and as such could allow access to the President Dyke.


Qualified Person


Kiran Morzaria B.Eng (ACSM), MBA, has reviewed the information contained in this
announcement. 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.

River Diamonds indirectly owns a 19% interest in the share capital of Westech Gold Pty Ltd ("Westech") which, through 
its wholly owned direct and indirect subsidiaries, owns the mining rights and associated assets of the Vatukoula Gold 
Mine in Fiji. Westech is indirectly controlled by Red Lion Management, a global merchant bank based in Vancouver.  On 
14 December 2007 River Diamonds announced that it had signed a conditional sale and purchase agreement (the 
'Agreement') to acquire the remaining 80% of Viso Gero International Inc. ('VGI') not already held by it from Viso Gero 
Global Inc and which contemplates that VGI will acquire the remaining 6% of Westech on or before the completion of the 
Agreement (collectively the 'Acquisitions '). Therefore, subject to completion of the Acquisitions, River Diamonds will 
own 100% of VGI and will indirectly, through Westech and its indirect subsidiaries, hold a 100% interest in the 
Vatukoula Gold Mine in Fiji and associated assets, rights and entitlements.


Contacts:

Templar Minerals
David Lenigas, Chairman               Tel: [phone]
Ian Stalker, Non Exec-Director        Tel: + 27 11 783 5056

Beaumont Cornish                      Tel: [phone]
Roland Cornish
Financial Dynamics                    Tel + 44 (0) 20 7831 3113
Ben Brewerton
Ed Westropp

Glossary of Technical Terms

Au: Gold

Channel sample: Sample obtained by cutting a representative channel or grove
across a rock face or profile.

Crushing: A milling process to reduce size into relatively coarse particles by
stamps, crushers, or rolls.

Decline : An inclined tunnel-like excavation into the ground to allow vehicle
and equipment access for the mining of ore bodies.

Flotation: A milling process in which valuable mineral particles are induced to
become attached to bubbles and float as others sink.

g/t: Grams per tonne

Ore: The naturally occurring material from which a mineral or minerals of
economic value can be extracted profitably or to satisfy social or political
objectives. The term is generally but not always used to refer to metalliferous
material, and is often modified by the names of the valuable constituent; e.g.,
iron ore.; ore mineral.

Ore Block: A section of an orebody, usually rectangular, that is used for
estimates of overall tonnage and quality.

Shaft: An excavation of limited area compared with its depth; made for finding
or mining ore or coal, raising water, ore, rock, or coal, hoisting and lowering
workers and material, or ventilating underground workings. The term is often
specific applied to a vertical shaft, as distinguished from an incline or
inclined shaft. A shaft is provided with a hoisting engine at the top for
handling workers, rock, and supplies; or it may be used only in connection with
pumping or ventilating operations.



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