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| | Thursday, November 15, 2007
Target Commences Drilling on Sinbad Uranium Property & Announces Results From Successful Exploration Program on Canadian Gold/Copper Properties
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TARGET EXPLORATION & MINING CORP. (TSX.V: TEM) (the "Company") is pleased to announce the commencement of drilling on the Sinbad Uranium Property, located within the San Rafael Swell in eastern Utah, 20 miles southwest of Green River. The program will consist of 15 holes, totalling 4,500 feet, designed to test the projected extension of the Chinle Formation mineralized channels north-westward from the historic Sinbad Uranium Mine. Existing holes on the Property include intercepts of 4.5 feet grading 0.11% U3O8 and 3.5 feet of 0.18% U3O8. The program will also test six radon anomalies west of the historic drilling which may represent additional mineralized channels in the Chinle at depths of 200 to 300 feet.
Exploration Update on BC Gold/Copper Properties
The 2007 summer program, which consisted of geological mapping, soil geochemical surveys, Induced Polarization (IP) and magnetometer surveys, has been completed on both the Gunner and Bradshaw Properties.
The Bradshaw Property is located 10 kilometers (km) southeast of the Nickel Plate-Headley Mascot Gold Mine, British Columbia's third largest gold producer, which closed in 1996 after producing nearly 2.5 million ounces. Limited drilling on Bradshaw in the 1980's (626 metres in 6 holes) established the presence of not only high-grade veins - 94.97 grams per tonne (g/t) gold (Au) over 0.76 metres, but also the potential for sediment hosted silicified and stockwork mineralization over significant thicknesses - 0.78 g/t Au over 62 metres. Three distinct gold-in-soil anomalies have now been defined over a strike length of three km. Two of these occupy the northern and southern edges of a circular chargeability anomaly, one km in diameter. The soil anomalies range in value from trace to in excess of 2 g/t Au. 6% of the values are greater than 0.2 g/t Au.
The Gunner Property is located 290 km north of Vancouver in the Gold Bridge Mining District, less than 15 km from the Bralorne-Pioneer Mine, British Columbia's largest gold producer. Previous work at Gunner in the 1990s indicated wide spread gold-in-soil anomalies and surface samples yielding 4 g/t Au and 0.12% copper (Cu) over 10.4 metres. The only drill hole on the property returned 84 metres of 0.38 g/t Au, 0.09% Cu, including 10.5 metres of 1 g/t Au and 0.16% Cu. The 2007 program further defined the soil anomalies over a strike length of 2.8 km and preliminary interpretation of the geophysics suggests the main soil anomaly is associated with a 2 km open-ended strong resistivity anomaly, which may represent the granodiorite that host the mineralization in the drill hole.
Drill programs are currently being planned for both properties and will commence in the summer of 2008.
Maps and additional information are available on the Company website: www.target-mining.com.
Stewart Wallis, P.Geo., President of the Company and Qualified Person as defined by National Instrument 43-101, has reviewed and verified the technical information contained in this news release.
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 joint venture agreement with Ur-Energy, and hosts a significant historical uranium resource. A drill program on this property, to confirm the historical resources and test for expansion of the uranium zone(s) will begin following the completion of data compilation and 3D geological modeling. 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.
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: dan@target-mining.com
www.target-mining.com
NOT FOR DISSEMINATION IN THE UNITED STATES
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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