Teal completes plan of arrangement with ARM and Vale

On March 24, 2009, TEAL Exploration & Mining Incorporated ("TEAL") announced the completion of the previously announced plan of arrangement involving TEAL, African Rainbow Minerals Limited ("ARM") and Companhia Vale do Rio Doce ("Vale"). As a result of the arrangement, ARM and Vale each now hold 50% 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.

TEAL was advised in this transaction by a team from Fasken Martineau that included Georges Dubé, Aaron Atkinson, Michael Gleeson and Conor O'Neill in Toronto; Thomas Wexler in London; and Al Gourley, Dimitri Cavvadas and David Kriel in Johannesburg.