Second year scholar Devante Jacobs has been offered a professional contract with the football club but goalkeeper Paul Tyson will be released at the end of his apprenticeship.
Speaking about the decisions, Tony Philliskirk said: "In another week of tough decisions, we are obviously delighted that Devante has secured his first professional contract.
"He has had regular involvement with the first team squad over the last three to four months and in this time the senior staff have said he has showed a lot of potential so we are looking forward to seeing his progression going forward.
"He needs to maintain a very high work ethic and realise the standards he has set must be maintained if he is to become more than a squad player next season.
"Paul was the centre of a lot of discussion and deliberation but with the emergence of Joel Coleman, who is only a year older, we felt opportunities at the next level would be limited therefore he may be better served looking elsewhere where his progression could be enhanced further.
"I'd like to place on record that he has been a model apprentice during his two full time years at the club. We are sure if he gets an opportunity elsewhere, he will do well."