Is Soul Release a Targeting Effect?

As an example my opponent plays Soul Release when I have Manju, Shinato & Magician of Faith in my graveyard, I chain with Beckoning light and send the 3 cards in my hand (2 Night Assailants and the Sinister Serpent) from my hand to the graveyard to retrieve said Manju, Shinato & Magician of Faith to my hand.  I understand that the Night Assailants would activate after the current chain has completed so would I:

a) Recover my Manju, Shinato & Magician of Faith but lose the Night Assailants and Sinister Serpent because Soul Release targeted the 3 monsters at resolution.

b) Recover my Manju, Shinato & Magician of Faith plus my Night Assailants (and Serpent) at my next Standby because Soul Release targeted the 3 light monsters at activation.
 
"B" is the right one as I see it, since "Night Assailant" effect is not optional his effect will resolve after the current chain end.

And if you remove all the cards targeted by "Soul Release" before it resolve it's effect would disappear.
 
Soul Release targets at activation.  If you chain Beckoning Light by removing the 3 light monsters from your graveyard.  The 2 Night Assailants must wait for the chain to resolve to use their effect.

Your opponent then resolves the effect of Soul Release, either removing up to 2 cards from your Graveyard, his Graveyard or any combination from both that equals up to 2 cards removed from play since you removed the 3 he targeted.  

You didnt really give a real indication of what you had in your Graveyard other than the Night Assailants and Sinister Serpent from Beckoning Light, and whether your opponent only targeted those 3 cards and not 5, so I would assume that your opponent would remove whatever else he targeted and the Night Assailants and Sinister would resolve as normal.
 
Then Blackscorp is right. Soul Release's effect disappears because the selected cards have been removed prior to resolution and he cannot reselect any other monsters.
 
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