Shareholders of TEAL approve plan of arrangement with ARM and Vale

    JOHANNESBURG, South Africa, Feb. 13 /CNW/ - TEAL Exploration & Mining
Incorporated ("TEAL"), a mineral development and exploration company
incorporated under the laws of the Yukon, Canada, is pleased to announce that
its shareholders have overwhelmingly voted in favour of the proposed plan of
arrangement (the "Arrangement"), announced on December 15, 2008, with African
Rainbow Minerals Limited ("ARM") and Companhia Vale do Rio Doce ("Vale") at a
special meeting of TEAL's shareholders held today. Shareholders unable to
attend in person at the meeting in Johannesburg were permitted to attend the
meeting by conference telephone made available in Toronto, Canada. The
Arrangement was approved by: (i) more than 99.99% of votes cast at the meeting
in person or by proxy; and (ii) more than 99.98% of the votes cast at the
meeting in person or by proxy by shareholders other than ARM or its
    Completion of the Arrangement remains subject to final approval by the
Supreme Court of the Yukon Territory, at a hearing currently expected to take
place on February 17, 2009 as well as the receipt of other regulatory
approvals and other specific closing conditions, which are all expected over
the coming weeks.

    INFORMATION ABOUT TEAL: TEAL is incorporated under the laws of the Yukon,
Canada and its common shares are listed on the 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,
Mozambique and the DRC, and it also has a portfolio of base and precious metal
development projects and complementary exploration areas. TEAL has targeted
specific projects: the Konkola North Copper project in Zambia; the Otjikoto
Gold Project in Namibia; and the Kalumines Copper-Cobalt Project in the DRC.

    Caution Regarding Forward-Looking Statements

    This press release contains forward-looking statements with respect to
the Arrangement and the transactions contemplated thereby, including the
proposed business combination of TEAL and ARM, TEAL's financial condition,
results of operations, business, prospects, plans, objectives, goals,
strategies, future events, capital expenditures, and exploration and
development efforts. Words such as "anticipates", "expects", "intends",
"plans", "forecasts", "projects", "budgets", "believes", "seeks", "estimates",
"could", "might", "should" and similar expressions identify forward-looking
statements. These statements include comments regarding operations and
synergies of the combined entity, the establishment and estimates of mineral
reserves and mineral resources, production, production commencement dates,
production costs, grade, processing capacity, potential mine life, feasibility
studies, development costs, capital and operating expenditures, exploration,
and the closing of certain transactions including acquisitions.
    Although TEAL believes that the plans, intentions and expectations
reflected in these forward-looking statements are reasonable, TEAL cannot be
certain that these plans, intentions or expectations will be achieved.
Forward-looking statements involve numerous assumptions, known and unknown
risks and uncertainties, of both a general and specific nature, that could
cause actual results to differ materially from those suggested by the
forward-looking statements or contribute to the possibility that predictions,
forecasts or projections will prove to be materially inaccurate. These risks
include, but are not limited to, the following: (a) a material and adverse
change in the anticipated tax treatment of the Arrangement; (b) the inability
of the Company to obtain: (i) all required regulatory approvals and necessary
consents; and (ii) approval of the Arrangement by the Supreme Court of the
Yukon Territory; (c) a failure by the Company to complete the necessary
pre-Arrangement corporate reorganizations; (d) the occurrence of a material
adverse change in regard to the Company or its business; and (e) the
occurrence of any other event, change or other circumstances that could give
rise to the termination of the Arrangement agreement, or the delay of
consummation of the Arrangement or failure to complete the Arrangement for any
other reason. 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. TEAL cautions that the list of risks and assumptions set
forth or referred to above is not exhaustive.

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