Placing to raise ?3 million

FOR IMMEDIATE RELEASE 23 April 2010

Templar Minerals Limited / Index: AIM / Epic: TMP / Sector: Financial Services

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

Placing to Raise £3 million

Templar Minerals Limited, the AIM listed resource investing company, announces that it has raised gross proceeds of £3 million by way of a placing of 300,037,976 new ordinary shares of 1 pence each in the capital of the Company ('the Placing Shares'), with new and existing shareholders at a price of 1 pence per Placing Share ('the Placing'). The funds raised will be used for additional working capital to service future activities in Brazil and to assess other opportunities in the resources sector.

Following the completion of the Placing, the Placing Shares will represent approximately 34% of the enlarged issued share capital of the Company, which will then comprise 883,087,976 ordinary shares. 

The Placing is conditional on admission of the Placing Shares to trading on AIM ('Admission'). Application will be made for the Placing Shares to be admitted to trading on AIM and it is expected that Admission will occur, and dealings in the Placing Shares will commence, on or around 29 April 2010.

The Placing Shares will, when issued, rank pari passu in all respects with the existing issued shares of Templar, including the right to receive any dividends and other distributions declared following Admission.

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For further information please visit www.templar-minerals.com or contact: