Johannesburg, South Africa — MININGREVIEW.COM — 14 May 2008 – TEAL Exploration and Mining Incorporated has announced that Rick Menell has taken a decision to retire from the company at the end of August 2008 and, as a result, will resign from his current positions as director, president and CEO.

A press release issued here confirmed that Menell would be handing over day-to-day responsibility to fellow executive director and financial officer Hannes Meyer, who will remain in an acting capacity until the appointment of a permanent CEO.

Menell has served in these positions since TEAL was formed in 2005 to house the non-South African assets of African Rainbow Minerals Limited. He will remain a non-executive director on the board of ARM.

Menell has committed, at the request of the TEAL Board, to provide support for a management transition by remaining fully available to the company as special advisor to the board for a period of at least three months.