Rosebank Regulatory News (ROSE)

10 Oct 2007 07:00

Vane Minerals PLC10 October 2007 10th October 2007 VANE Minerals Plc (AIM:VML) ('VANE' or the 'Company') NI 43-101 Report VANE announces the publication of a NI 43-101 technical report on its NorthernArizona Uranium Breccia Pipe Exploration Project, which was compiled by SRKConsulting (U.S.) Inc., Tucson, Arizona; SRK reviewed the breccia pipe targets,VANE's exploration and evaluation strategy and the company's quality control andassurance practices. Highlights from the report include: • VANE's uranium breccia pipes offer an excellent suite of exploration targets worthy of continued exploration drilling. • Several of the breccia pipes claimed by VANE were drilled in the early 1980's, with promising results. • The evidence for the presence of uranium breccia pipes is apparent in the field and defines valid uranium exploration targets. • The VANE program is one of identification of prospective pipe targets, followed by shallow drilling to define a pipe geometry, and deep drilling to test favorable stratigraphy in the pipes for uranium mineralization - a well planned and focused exploration program. • Of the 38 breccia pipe properties held by VANE, five are confirmed pipes. • One of the breccia pipes contains a historical intercept with up to 1.78% equivalent U3 O8. • A program of drilling and gamma logging is justified to test the VANE exploration targets and it is possible to complete the steps suggested in the report in a 12 to 18 month time frame at a cost estimate of approximately US$2.85 million. Alan V. Moran, a registered Geologist and certified professional geologist, ofSRK Consulting (U.S.) Inc. is the Qualified Person who meets the criteria of aqualified person as set out in the National Instrument 43-101 ("NI43-101"). 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. The full report is available to download from the Company's website - http://www.vaneminerals.com/?page=download&itemID=25 Enquiries: VANE Minerals Plc Westwind Partners Ambrian Partners Limited Parkgreen CommunicationsMatthew Idiens Paul Newman Richard Brown Laura Llewelyn / Beth Harris+44 (0) 20 7667 6322 +44 (0) 20 7290 9713 +44 (0) 20 7776 6417 +44 (0) 20 7851 7480 For further information, please review: www.vaneminerals.com. About VANE Minerals: VANE Minerals was founded by the former international exploration team ofFreeport-McMoRan Copper & Gold Inc., one of the world's largest producers ofcopper and gold. The Company has assembled a highly qualified and experiencedmanagement team with a proven track record in exploration and development, whohave spent their entire careers searching for and defining large scale mineraldeposits. The Company is using the silver/gold production at the Diablito mine in Mexicoto help fund exploration work across its attractive portfolio. Since December 2004, VANE has built up a substantial uranium portfolio ofproperties in the Colorado Plateau region, initially targeting the Arizona stripwhich holds the highest grade deposits in the US, contained in breccia pipes. This information is provided by RNS The company news service from the London Stock Exchange