Update, Board Change, Options

Templar Minerals Limited
30 January 2008



30 January 2008


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

                               Operational Update
                          Appointment of New Directors
                                Grant of Options


Templar Minerals ("AIM: TMP"), the investor in natural resource opportunities,
announces the appointment of two new Directors to boost the Company's management
team and gives the following operational update. In addition, the Company has
granted further options to certain Directors to ensure that the enhanced
management team is now properly incentivised. The Company currently has
exploration assets in Georgia and a strategic 26.18% investment in River
Diamonds plc, which is currently in the process of acquiring 100% of the
historic Emperor Gold Mine in Fiji.

The Board believes that Templar Minerals and its management is on track with its
original investment strategy of targeting investments in exploration,
development and production projects in the minerals, base metals, precious
metals or hydrocarbons sectors. The Company continues to evaluate resource
projects outside its current investments.


Operational Update


The Company has made considerable progress since it was formed earlier this
year.

In November, Templar Minerals announced encouraging initial exploration results
from Adjaria Gold project in the Republic of Georgia. Following these sample
results the Company began to sample additional highly prospective areas within
the 110km2 licence area in the Adjaria Project for both gold and base metals.
Templar intends to initiate a drilling programme to determine the full extent of
the mineralisation and this drilling programme is due to commence with two rigs
next month.

Last year, Templar Minerals acquired 285 million shares (26.18%) in River
Diamonds plc ("River Diamonds") making Templar Minerals the largest shareholder.
In December, River Diamonds announced that it had signed a conditional sale and
purchase agreement which will result in it having a 100% interest in the Emperor
Gold Mine. As part of the consideration, River Diamonds announced that it had
raised £4,250,000 at 6 pence per share, which revalues Templar's holding in
River Diamonds at £17.1 million. The shares of River Diamond are currently
suspended pending the publication of a re-admission document, which is expected
to be published during February 2008.

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 7,000,000 ounces. The
mine is targeting production of 100,000 ounces of gold per annum. Production is
expected to re-commence at Emperor this month after a one year care and
maintenance period whilst the ownership of the mine cd hands.


Appointment of New Directors


The Board is pleased to announce the appointment of Paul Courtnage as full-time
Director of Exploration and Gordon Cassidy as a part-time Finance Director and
Company Secretary.

Paul Michael Courtage, aged 38, is a former Regional Geologist for UraMin Inc's
South African projects. He was previously occupied in geological consultancy for
platinum and coal projects, and also spent seven years at Anglo American plc as
a Sectional Geologist involved in research, development and implementation of
new technology exploration techniques for gold and base metals in Africa,
Australia, South America and the USA.

Gordon Cassidy, aged 62, has spent twenty years in Africa and has worked in
Zambia, Kenya, Nigeria, Zaire and Mozambique. He transferred back to the United
Kingdom in 1987, where he held the position of UK Finance Director with Crown
Cork and Seal Co. Inc, an international metal packaging manufacturer. He was
also a Finance Director at a private hospital operated by BMI, a UK provider of
acute care private medical facilities.  Previously, Mr Cassidy was the Group
Financial Controller for UraMin Inc.

There is nothing further to disclose in relation to the appointment of Mr.
Gordon Cassidy and Mr Paul Michael Courtnage under schedule two, paragraph (g)
(iii)-(viii) of the AIM Rules.

As part of Mr Courtnage's and Mr Cassidy's employment arrangements, they have
each been awarded options over 2,000,000 Ordinary Shares at an exercise price of
4.13p per share. The options vest in three equal installments on 12, 24 and 36
months respectively.


Grant of Options

The Company announces that on the recommendation of the Remuneration Committee
it has granted options over a further 33,450,000 ordinary shares of no par value
("shares") to directors, employees and consultants. The existing Directors to
whom options have been granted are:


-       a option over 12,000,000 shares to John ("Ian") Stalker, Director (total
14,000,000 shares under option following this grant);

-       a option over 12,000,000 shares to Neil Herbert, Deputy Chairman (total
14,000,000 shares under option following this grant); and

-       an option over 3,000,000 shares to Graham Mascall, Director (total
5,000,000 shares under option following this grant).

The share options granted to existing Directors are in accordance with the
Scheme Option Plan as set out in the AIM Admission Document dated 4 May 2007 and
are at the Admission price of 5p per share exercisable at any time until 30
January 2013, being five years from the date of grant.

The remaining options were granted to the new Directors (as referred to above),
management, employees and consultants of the Company.

These options are exercisable at a price of 4.13p per share (being the closing
middle market price on 29 January 2008) and will vest over in three equal annual
installments on 12, 24 and 36 months respectively commencing on the date of
grant and will expire on 30 January 2018.



David Lenigas, Chairman of Templar Minerals, said:


"Templar has made considerable progress in the few months since IPO. Our
interest in the Emperor Gold mine, via River Diamond, has already increased
significantly in value and we look forward to the mine re-commencing production
very shortly. Emperor is capable of producing 100,000 ounces of gold per year
for many years to come.

"In Georgia, the initial exploration sample results at Adjaria were encouraging
and we are accelerating the exploration programme with drilling anticipated to
start next month.

"We continue to evaluate further investment opportunities in both gold and base
metal projects."



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





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