Print   



Stock Exchange Announcement

Date:               29th July 2008

On behalf of:    Target Resources plc 

Embargoed       0700hrs

Target Resources plc ('Target' or the 'Company')

APPOINTMENT OF A NEW NON-EXECUTIVE DIRECTOR

Target Resources plc (AIM:TGT), the alluvial diamond and gold mining company operating in Sierra Leone, is pleased to announce that it has appointed Mr Paul Nikola Samson, aged 61, as a new non-executive director.

Mr Samson, a trained geologist, has over 35 years of experience in technical, commercial and managerial roles in the mining and petroleum industry.  He joins the Target's board after 16 years at BHP Billiton where his last role before retiring in 2006 was of Vice President Business Development, Diamonds.  He was instrumental in developing BHP Billiton's new ventures in Angola and Russia.  Prior to this role he held senior level business development, exploration, marketing, planning and general management positions ranging from major international companies, consulting firms and national mining and oil companies in a variety of countries in Africa, Middle East, South and East Asia, FSU and Eastern Europe. He is currently a director of Solaris Energy PLC

Mr Samson has been awarded 500,000 options to buy shares in Target at an exercise price of 21p per share. The options are exercisable for 3 years from today.

There are no further disclosures to be made in accordance with Schedule 2(g) of the AIM Rules.

The board has further resolved to award another non-executive director, Mr Andrew Greenblatt, the same option package. Mr Greenblatt was instrumental in securing the facilities and the equity purchase by the Tiffany & Co Group and continues to assist the Company vis-a-vis its USA based shareholders and supporters.

Commenting on the operation, Dr Nissim Levy, Managing Director, said: 

'We are delighted that Paul has decided to join our board. His decision came after reviewing the potential of our assets and operations. Paul's extensive experience in Diamond exploration and commercialisation in BHP Billiton will no doubt contribute greatly to our Company.'

- ENDS -

Enquiries:

Target Resources plc	020 7258 2300
Dr Nissim Levy, Managing Director	www.target-resources.co.uk
Nominated Adviser and Brokers
Arbuthnot Securities	020 7012 2000
John Prior

About Target 

• Target is an alluvial diamond mining and exploration company operating in Sierra Leone.

• Target is among the first large scale mining ventures to be established in Sierra Leone since the end of the civil war in 2002.

• The Company has 4,263 acres (17.25 Sq km) under mining leases in the rich diamond and gold area of Kono, which is recognised as the most productive area for diamond mining in Sierra Leone.

• The Company has Exclusive Prospecting Licences for Gold, covering 520 sq km in the Alluvial Gold area in the Tonkolili district and for Diamonds, covering 254 sq km in Kenema District, known for its 'fancy' diamonds..

Target Resources Plc 

16th Floor, Marble Arch Tower, 55 Bryanston Street London, W1H 7AA

Tel +44 (0)20 7258 2300, Fax +44 (0)20 7258 2321 

Email: info@target-resources.co.uk

Web: www.target-resources.co.uk

Registered in England and Wales, Company No 5566717

ENDBOAILFVEDSITFIT