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

Trading Update 

Target Resources Plc ('Target' or the 'Company') note the announcement made by Canaf Group Inc ('Canaf'), stating inter alia, that is has signed an agreement with Milestone Trading Limited, a subsidiary of the Company, whereby Milestone will assist Canaf (SL) in providing the necessary equipment to extract gravel from the river in Canaf's current Lease area by means of a dredging operation.  All direct mining costs and profits are to be shared on a 50% each basis.  Should the grades of gravel prove sufficient to allow larger-scale mining then a formal joint venture agreement will be negotiated.

A copy of the Canaf announcement can be found at Canaf's website www.canafgroup.com

- 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