Rosebank Regulatory News (ROSE)

15 Jan 2008 07:01

Vane Minerals PLC15 January 2008 15th January 2008 AIM: VML VANE Minerals Plc ("VANE" or "the Company") Approval of further 8 drilling programs in Northern Arizona Breccia Pipe project VANE is pleased to announce that its wholly-owned uranium subsidiary VANEMinerals (US) LLC, has received approvals on eight "Plans of Operations" putforward by VANE for exploration drilling on its breccia pipe targets in northernArizona. Seven approvals to drill are on projects located on U.S. Forest Service lands inthe Kaibab National Forest. According to the Forest Service, the applicationsreceived from VANE were the first submitted in over 20 years for breccia pipedrilling in this area. Activities in the area began to close in the mid-1980'sdue to uranium market conditions. The Company is very encouraged with theseapprovals and believes it has established a process whereby approvals can beobtained for projects on Forest lands on a timely basis moving forward. Theapprovals are for drilling on the Antelope Pipe and the CP3, CP4, CP6, CP8,CP10, and CP11 pipe targets. Approval of the applications comes followingarchaeological and biological surveys carried out by the Company in 2007. The eighth approval received is on the Willaha target located on State ofArizona school trust lands. On surface indications are that this target containsuranium mineralization, with 5000 counts per second (cps) gamma radiation or 50times background recorded by VANE in 2007 from a hand-held gamma-rayscintillometer. These projects will be added to the current drilling schedule to be drilled in2008. The Company is presently looking to contract a second rig suitable forbreccia pipe drilling in order to accelerate the pipe exploration program. Matthew Idiens, Director of Corporate Development commented: "These approvalsare significant for the Company in that we are the first in 20 years to obtainpermits from the Forest service in this area. The drilling programs continue tomove ahead and following last year's successful fundraising, we believe theCompany is in a strong position to create significant value for shareholders in2008" Kristopher K. Hefton, Chief Operating Officer VANE Minerals (US) LLC, BScGeology, who meets the criteria of a qualified person under the AIM Rules -Guidance for Mining, Oil and Gas Companies, has reviewed and approved thetechnical information contained within this announcement. Enquiries: VANE Minerals Plc Thomas Weisel Partners Ambrian Partners Limited Parkgreen CommunicationsMatthew Idiens Paul Newman Richard Brown Beth Harris/Laura Llewelyn+44 (0) 20 7667 6322 +44 (0) 20 7290 9713 +44 (0) 20 7776 6417 +44 (0) 20 7851 7480 Notes to Editors VANE Minerals (VANE) is an AIM listed uranium mineral exploration anddevelopment company with a strong focus on North America. The Company has astrong portfolio of projects and was initially self-financed by production fromthe Silver/ Gold Diablito Mine in Western Mexico. VANE has built a substantial uranium portfolio in the US which, at present, isthe main driver for the Company, offering considerable upside in these strongmarkets. VANE now has projects in Mexico, Paraguay and the US, incorporatingexposure to uranium, gold, silver and copper. The Company was founded by former members of the international exploration teamof Freeport-McMoRan Copper & Gold Inc., one of the world's largest producers ofcopper and gold. The team negotiated exclusive access to Freeport McMoRan globalexploration database, made up of 7,000 plus files generated over nearly 100years of exploration For further information, please review: www.vaneminerals.com. This information is provided by RNS The company news service from the London Stock Exchange