NOT FOR ONWARD DISSEMINATION IN THE UNITED STATES

Press Release

www.tealmining.com

For release: Monday, January 28, 2008 For further details contact: Julian Gwillim (VP: Investor Relations and Corporate Development) on +27 82 4524 389, or julian@tealmining.com

or

Rick Menell (President and CEO) on +27 82 450 2301, or rick@tealmining.com Forward-Looking Information: Statements contained in this press release that are not historical facts are forward-looking statements that involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although TEAL believes that the assumptions inherent in the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this press release. TEAL disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities of TEAL in any jurisdiction.

KALUMINES’ LUPOTO COPPER PROJECT • DRILLING PROGRAM COMPLETED • SIGNIFICANT HIGH-GRADE INTERSECTIONS • RESOURCE CALCULATION UNDERWAY • MASSIVE COPPER SULPHIDES INTERSECTED BELOW

COPPER OXIDES TEAL Exploration & Mining Incorporated (TSX-“TL”) (JSE-“TEL”) (“TEAL”) has announced further high-grade exploration drilling intersections at the Lupoto Copper Project, which forms part of TEAL’s 60%-owned Kasonta-Lupoto Mines sprl (“Kalumines”) mining licence area, situated close to Lubumbashi in the Democratic Republic of the Congo (“DRC”). All three phases of the drilling campaign, which started in March 2007, have now been completed. The first two drilling phases were undertaken to confirm and verify the historical mineral resource estimate for the Lupoto Copper Project and to undertake infill drilling to upgrade the mineral resource confidence level. The third phase of drilling was aimed at increasing the resource along strike in areas previously not drilled. The Lupoto Copper Project resource is now being reviewed by SRK Consulting (South Africa) (Pty) Limited to produce an Independent Competent Persons report compliant with the National Instrument 43-101 (“NI 43-101”). TEAL’s existing mining licence for Kalumines is located 25km north-west of Lubumbashi and covers a surface area of 77km2. The licence hosts various near surface exposures of rich oxide copper mineralization, all within a few kilometres from each other (refer to Figure 1). Kalumines is a 60:40 joint venture with La Générale des Carrières et des Mines (“Gécamines”). Highlights from the drilling results are LPO151 on line 1000N grading 6.80% copper over 23.8 metres, including 0.20% cobalt over 12.8 metres; LPO147 on line 700N grading 4.31% copper over 15.6 metres; LPR007 on line 600N grading 7.12% copper over 34 metres; LPRR011 on line 350N grading 5.12% copper over 24 metres and 0.96% cobalt over 8 metres; LPDR023 on line 250N grading 9.87% copper over 8 metres; and LPR020B on line 50N grading 5.24% copper over 43 metres including 0.15% cobalt over 13 metres. The Lupoto Copper Project geological structure occurs over a distance of approximately 3,698 metres.

2 Figure 1: Regional setting of the Kalumines licence area and known copper and cobalt occurrences

TEAL’s current focus is the Lupoto Copper Project, which has been drilled in the past by Union Miniere du Haut Katanga (“UMHK”) and Gécamines. A total of 73 diamond drill holes totaling over 9,100 metres were drilled between 1923 and 1967, while some additional drilling occurred until 1977. Most of the drilling, with drill fences completed at 100 metre intervals, was focused on the southern portion of the U-shaped Mine Series outcrop where the oxide copper surface mineralization is best developed. The Kalumines prospect area includes a kite-shaped anticline zone cored by Roches Argilo-Talcqueuse (“RAT”) containing numerous rafts of Mine Series rocks, which are generally the hosts to the copper mineralization on the Congolese Copperbelt, comprising more than 26km of strike (Figure 1). TEAL’s exploration program has also identified further exposures of oxide copper mineralization, of which the occurrences at Bumen and Karu, about 1,000 metres from the Lupoto Copper Project, are encouraging. Further exploration work on the property, comprising geological mapping and geochemical sampling, is in progress.

3 Overview Figure 2 is a geological map of the Lupoto Copper Project indicating the boreholes drilled previously and the recently drilled TEAL boreholes. Figure 2: Lupoto Copper Project – geological map, grid lines and borehole positions for all drilling phases

TEAL has completed 122 boreholes comprising a total of 15,392 metres. The total strike length defined for the Lupoto structure is 3,698 metres. The geological structure has been categorized into Blocks ranging from A to E for presentation purposes. Figure 2 indicates the borehole collar positions of the historically drilled boreholes, commencing on line 100S with subsequent historical boreholes drilled on a 100 metre spaced line pattern. TEAL subsequently established an additional 100 metre spaced grid pattern, which in combination with the previous grid, results in a 50 metre spaced pattern for an area from line 100S to 800N on the west and east limbs, an approximate strike of 1,929 metres. It is anticipated that this 50 metre line spaced drill pattern will provide TEAL with an acceptable level of confidence in its mineral resource estimate definition. Once the results of the more widely spaced drilling north of line 800N become available, an additional drilling program will be planned to increase the confidence level of the resources on these strike-extensions of both the east and west limbs.

4 Block A Figure 3: Block A – Lupoto Copper Project

Block A is defined between line 675N and 1350N with a defined strike length of 711 metres. Previous drilling in this area was limited to 4 boreholes (438 metres), but TEAL has now completed an additional 25 boreholes comprising 3,955 metres. Most of the assay results are being awaited, but selected total copper and cobalt results are shown in Figure 3 above. Oxide copper mineralization has been intersected from less than 20 metres to 120 metres drill depth. In this part of the eastern limb of the Lupoto structure, the geological formations are tightly folded and constitute a refolded limb of variable dip. Zones of thick oxide copper mineralization are very well developed in this area. Cobalt assay results are encouraging. In borehole LPR/D 0410, collared at some distance to the east on line 700N to intersect the target geology at depth, massive sulphide copper mineralization, mainly chalcopyrite, between vertical depth 190.5 metres to 223 metres was intersected (refer to Photo 1 and 2 below). This borehole indicates that the copper mineralization is well developed at depth in this area, but changes in nature from predominantly oxide copper to massive sulphide copper. Assays are being awaited from this intersection, and additional drilling will be undertaken to further evaluate the potential of sulphide copper mineralization.

5 Photo 1 and 2 – Lupoto Copper Project Massive sulphide mineralization intersected at depth

6 Block B Block B is defined from line 325N to 675N and line spacing is 50 metres apart. A total of 9 boreholes were drilled in the past in this area comprising 894 metres. TEAL completed an additional 24 boreholes for 2,986 metres. The assay results of selected boreholes are shown in Figure 4. Block B is also the area where the current phase 1 mining is underway, which is progressing well. Assay results from selected boreholes are shown in Figure 4. Boreholes drill depth intersections vary from 4.5 metres to 220 metres. Figure 4: Block B – Lupoto Copper Project

7 Figure 5: Block C – Lupoto Copper Project

Block C is defined from line 100S to line 175N on the west limb, and from 100S to 325N on the east limb (refer to Figure 5). Further drilling is currently being undertaken to define the ‘hinge’ zone of this structure in more detail. Within this ‘hinge’ zone area, the geological interpretation is considered preliminary. The assay results of selected boreholes are shown in Figure 5. The strike extent of the mineralized zone in Block C is approximately 929 metres. Previous drilling completed a total of 19 boreholes (1,896 metres) and TEAL drilled an additional 35 boreholes amounting to 4,284 metres. Lines are spaced 50 metres apart and drill depth intersections vary from 20 metres to 125 metres. Encouraging cobalt results have been received.

8 Blocks D & E Figure 6: Blocks D & E - Lupoto Copper Project

Block D is defined between lines 175N and 825N on the west limb of the Lupoto structure. A total of 9 boreholes (1,019 metres) were drilled in this area in the past and TEAL has completed a total of 20 boreholes (2,188 metres). Selected results are shown in Figure 6, with additional assay results being awaited. High grade cobalt results were encountered in this area. Block E is defined from 825N to line 1850N on the west limb. No previous drilling was undertaken on this limb, and TEAL has completed 18 boreholes totalling 1,978 metres. The results from borehole LPD 010 is shown in Figure 6. Further assay results are awaited and follow-up drilling will then be planned. The geological strike extensions beyond line 1850N are not defined and are considered open-ended at this time. Geological modeling and resource estimation TEAL has appointed Sphynx Consulting as an independent consultant to conduct the database verification, geological modeling, ore body modeling and resource estimation work. A geological model has been created and the mineralized area has already been modeled for the Lupoto Copper Project between grid lines 800N on the western limb to 800N on the eastern limb. Geological modelling to the

9 1350N line on the eastern limb is in progress. Resource estimation work has also commenced. TEAL has appointed SRK Consulting (South Africa) (Pty) Limited as the Qualified Person to complete the Independent Qualified Persons Report on the Lupoto Copper Project. These recent analytical results are certified by ALS Chemex Laboratory in Johannesburg, South Africa an internationally accredited facility. TEAL uses standard procedures for the drill sampling, including the appropriate use of Certified Reference Materials, field duplicates and blank samples. Mr. Claus Schlegel, Pr.Nat.Sci (No. 400149/90), the Company’s Vice President: Exploration and Business Development and a NI 43-101 “qualified person” as defined by NI 43-101, has reviewed the technical material contained herein. NOTES: TEAL is incorporated under the laws of the Yukon, Canada and its common shares are listed on the Toronto Stock Exchange (“TSX”) and the JSE Limited (“JSE”). The common shares of the Company trade under the symbol “TL” on the TSX and “TEL” on the JSE. TEAL is a mineral development and exploration company with development projects and exploration areas in Namibia, Zambia and the DRC. TEAL has a portfolio of base and precious metal development projects and complementary exploration areas, and the Company continues to seek other opportunities, mainly in southern and central Africa TEAL has targeted specific core projects: the Konkola North Copper Project in Zambia; the Otjikoto Gold Project in Namibia; and the Kalumines Copper-Cobalt Project in the DRC. TEAL also has interests in various other mineral licence areas in Zambia and in Namibia on which the Company continues drilling and other exploration activities. This historical estimate is pre-dating National Instrument 43-101. The source of these estimates is Gécamines and the original classification was made based on a classification scheme internal to Gécamines. TEAL has independently analyzed the results of the previous exploration, but the historical results should not be relied upon. TEAL believes these historical results provide an indication of the potential of the properties and are relevant to ongoing exploration and subsequent resource calculations. ADDITIONAL TEAL INFORMATION CAN BE FOUND AT: www.tealmining.com -ends-

/ColorImageDict > /JPEG2000ColorACSImageDict > /JPEG2000ColorImageDict > /AntiAliasGrayImages false /CropGrayImages true /GrayImageMinResolution 300 /GrayImageMinResolutionPolicy /OK /DownsampleGrayImages true /GrayImageDownsampleType /Bicubic /GrayImageResolution 300 /GrayImageDepth -1 /GrayImageMinDownsampleDepth 2 /GrayImageDownsampleThreshold 1.50000 /EncodeGrayImages true /GrayImageFilter /DCTEncode /AutoFilterGrayImages true /GrayImageAutoFilterStrategy /JPEG /GrayACSImageDict > /GrayImageDict > /JPEG2000GrayACSImageDict > /JPEG2000GrayImageDict > /AntiAliasMonoImages false /CropMonoImages true /MonoImageMinResolution 1200 /MonoImageMinResolutionPolicy /OK /DownsampleMonoImages true /MonoImageDownsampleType /Bicubic /MonoImageResolution 1200 /MonoImageDepth -1 /MonoImageDownsampleThreshold 1.50000 /EncodeMonoImages true /MonoImageFilter /CCITTFaxEncode /MonoImageDict > /AllowPSXObjects false /CheckCompliance [ /None ] /PDFX1aCheck false /PDFX3Check false /PDFXCompliantPDFOnly false /PDFXNoTrimBoxError true /PDFXTrimBoxToMediaBoxOffset [ 0.00000 0.00000 0.00000 0.00000 ] /PDFXSetBleedBoxToMediaBox true /PDFXBleedBoxToTrimBoxOffset [ 0.00000 0.00000 0.00000 0.00000 ] /PDFXOutputIntentProfile () /PDFXOutputConditionIdentifier () /PDFXOutputCondition () /PDFXRegistryName () /PDFXTrapped /False

/CreateJDFFile false /Description > /Namespace [ (Adobe) (Common) (1.0) ] /OtherNamespaces [ > /FormElements false /GenerateStructure false /IncludeBookmarks false /IncludeHyperlinks false /IncludeInteractive false /IncludeLayers false /IncludeProfiles false /MultimediaHandling /UseObjectSettings /Namespace [ (Adobe) (CreativeSuite) (2.0) ] /PDFXOutputIntentProfileSelector /DocumentCMYK /PreserveEditing true /UntaggedCMYKHandling /LeaveUntagged /UntaggedRGBHandling /UseDocumentProfile /UseDocumentBleed false >> ]>> setdistillerparams> setpagedevice