TEAL Exploration & Mining Incorporated (“TEAL”) is pleased to announce the completion of the previously announced plan of arrangement (the “Arrangement”) involving TEAL, African Rainbow Minerals Limited (“ARM”),  Companhia Vale do Rio Doce (“Vale”) and two wholly-owned subsidiaries of ARM,  42685 Yukon Inc. and 42696 Yukon Inc.

Upon completion of the arrangement, the holders of all of the outstanding common shares of TEAL not already owned by ARM have effectively had their interest in TEAL redeemed for a cash amount of CDN$3.00 per share (which shall be paid to shareholders who are registered on the South African branch register maintained for TEAL in South African Rand as calculated using the rate of exchange announced by TEAL on the JSE Limited`s Stock Exchange News Service (“SENS”) on March 19, 2009).

Shareholders who have not already done so should follow the instructions set out under the heading “Mechanics of Arrangement and Pre-Arrangement Transactions – Payment to TEAL Shareholders and Holders of TEAL SARS” in TEAL`s management proxy circular dated January 19, 2009 to receive payment of the consideration to which they are entitled.

As a result of the Arrangement, ARM and Vale each now hold a 50% indirect interest in TEAL Minerals (Barbados) Incorporated (“TEAL Minerals”), which was previously a wholly-owned subsidiary of TEAL. TEAL Minerals holds directly or indirectly substantially all of TEAL`s former assets and liabilities and ARM and Vale will operate and develop such assets as a 50:50 joint venture.

The common shares of TEAL will be de-listed from the Toronto Stock Exchange effective on or about March 26, 2009, and TEAL will also apply to terminate its reporting issuer status in Canada. Trading in the common shares of TEAL has been suspended on the JSE Limited effective as of the commencement of      
trading on March 24, 2009, and the de-listing from the JSE Limited will be effective at the commencement of trading on April 3, 2009.