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Stock Exchange Announcement

Date:                   22 January 2009

On behalf of:        Target Resources plc 

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

NOTIFICATION OF DIRECTOR'S INTERESTS

Following recent FSA clarification related to disclosure obligations in respect of the grant of security over shares by a director, the Company received notification today that on 2 October 2007 Dr Nissim Levy pledged 13,493,233 ordinary shares of 1p each in the Company ('Shares'), representing approximately 11.1% of the Company's issued Shares and comprising the majority of his shareholding of 13,698,233 Shares in the Company, as security for a banking facility with Israel Discount Bank.

Following discussions with the Company, both Dr Levy and the Company believed that the security arrangement did not itself constitute a transaction for which disclosure was required under the Disclosure and Transparency Rules. However, given the FSA's recent clarification of its view of the obligations to disclose security granted over shares, Dr Levy has formally notified the Company of this grant of security and the Company hereby gives notice of the grant of the security over the shares described above.

- ENDS -

Enquiries:

Target Resources plc                   020 7258 2300

Yair Ziv, Finance Director            www.target-resources.co.uk

Nominated Adviser and Broker

Arbuthnot Securities                     020 7012 2000

John Prior

Ed Burbidge

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

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