24 Oct 2008 07:00
24th October 2008
VANE Minerals Plc
("VANE" or the "Company")
Remuneration Review and Grant of Options
VANE Minerals today announces that following the results of a remuneration review carried out by the Company's Remuneration Committee, It has been decided that share options be granted to Directors and senior management on the following terms, in line with the Company's existing option scheme:
Acting upon the recommendation of the Remuneration Committee, the Company yesterday awarded share options to the following individuals:
| Kris Hefton | Director, VANE Minerals (US) LLC | 4,400,000 |
| Matthew Idiens | Commercial Director, VANE Minerals Plc | 2,200,000 |
| Ian McNeill | Finance Manager, VANE Minerals Plc | 1,750,000 |
| Luis Perez | Director, Minerals VANE SA de CV | 1,050,000 |
Commenting today, David Ingmire, head of the remuneration committee said:
"Those granted options have been influential in VANE securing the Company's funding, generating revenues and a portfolio of highly prospective uranium projects which we are currently in the process of drilling. I also believe the work management has done bringing Uranium One into partnership with VANE deserves to be rewarded. At a time like this in the economic cycle, however, we are also trying to ensure VANE is very secure when it comes to retaining key staff to drive the business forward. The granting of today's options represents an opportunity for Directors and management to benefit with other VANE shareholders in a successful realisation of the Company's strategy of bringing North American uranium mines into production. It also shows the level of confidence the team has in its ability to grow the business."
For further information, please contact:
| VANE Minerals Plc | +44 (0) 20 7667 6322 |
| Matthew Idiens | |
| Ambrian Partners Limited | +44 (0) 20 7634 4709 |
| Richard Brown | |
| Thomas Weisel Partners | +44 (0) 20 7877 4478 |
| Paul Newman | |
| Threadneedle Communications | +44 (0) 20 7653 9850 |
| Laurence Read/Beth Harris | +44 (0) 79 7995 923 |
Notes to Editors
VANE Minerals is an exploration company, with a cash flow, financed in part by production from the Silver/Gold Diablito Mine in Western Mexico. The Company has assembled a highly qualified and experienced management team with a proven track record in exploration and development. VANE now has projects in Mexico, Paraguay and the US, incorporating exposure to gold, silver, copper and uranium. The Company's principal objective is to utilise the funds generated from Diablito to identify and explore undervalued and under-explored projects, create value in those projects and realise that value through exploitation or disposal to third parties. For further information, please visit www.vaneminerals.com.