TEAL receives court approval for arrangement with ARM and Vale; TEAL announces information concerning closing timetable

    JOHANNESBURG, South Africa, Feb. 18 /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
it has obtained final court approval from the Supreme Court of the Yukon
Territory for the previously announced plan of arrangement (the "Arrangement")
with African Rainbow Minerals Limited ("ARM") and Companhia Vale do Rio Doce
("Vale"). The Arrangement was previously approved by: (i) over 99.9% of all
votes cast on a special resolution (the "Special Resolution") of TEAL's
shareholders at a special meeting of shareholders held on February 13, 2009;
and (ii) over 99.9% of the votes cast on the Special Resolution by
shareholders other than ARM and its affiliates.
    Closing Timetable: Completion of the Arrangement remains subject to the
receipt of other regulatory approvals and satisfaction of specific closing
conditions, which are all expected in the near future; however, the timetable
for settlement with respect to shareholders on TEAL's South African branch
register as announced on the Stock Exchange News Service ("SENS") on February
6, 2009 and which appears on page 29 of TEAL's management proxy circular dated
January 19, 2009, is no longer applicable. As soon as all necessary regulatory
approvals and other specific closing conditions have been satisfied, a revised
timetable will be announced on SENS.

    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. Words such as "anticipates",
"expects", "intends", "plans", "forecasts", "projects", "budgets", "believes",
"seeks", "estimates", "could", "might", "should" and similar expressions
identify forward-looking statements. 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 all required
regulatory approvals and necessary consents; (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

For further information:

For further information: Julian Gwillim (VP: Investor Relations and
Corporate Development) on +27 (0) 82 4524 389, or julian@tealmining.com

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