Rosebank Regulatory News (ROSE)

11 Apr 2007 07:01

Vane Minerals PLC11 April 2007 VANE Minerals Plc New Acquisitions and Targets - Arizona Breccia Pipe URANIUM Project VANE Minerals Plc ("VANE" or "the Company") is pleased to provide an update onnew acquisitions and target generation in its breccia pipe uranium programme innorthern Arizona, operating as VANE Minerals (US) LLC, its wholly-owned uraniumsubsidiary. VANE has purchased for cash 100% ownership of a 19-acre parcel of fee (private)ground. The Company considers that this property, Eastern Star, covers a highlyfavourable pipe target having several strong surface indicators that arecharacteristic of uranium-bearing pipes. The Company is extremely encouraged bythe prospects for this target, on which no exploration permits are required asit is private ground. Preliminary exploration on the property will consist of ageological mapping programme to identify the target's centre and initial drilllocations. Exploration drilling can commence at VANE's discretion. VANE has also recognised a second pipe target at the recently drilled Millerproject that is located 1,000 feet southwest of the Miller Pipe and current VANEdrilling. The new target is just within the Miller property holdings on Arizonastate lands. A shallow drill hole was completed by Energy Fuels Nuclear, Inc.,in the mid-1980s in the central part of the new target. This hole encountered a25-foot thick zone of anomalous uranium mineralisation with up to 0.02% eU3O8 infractured Coconino Sandstone as indicated in the probe log. This mineralisationoccurs about 550 feet (170m) above the level considered favourable for ore-gradeuranium deposition. A drilling campaign for deep holes on this new target isplanned and approval for drilling has been received from the State. Anadditional 520-acre lease of Arizona state land has been acquired to ensure thatthe Miller prospects are adequately protected. In addition, a third pipe target was identified on the Rattlesnake Claim groupwhere two targets are already known. The target exhibits surfacecharacteristics consistent with uranium-bearing pipes. An additional lode claimwas staked to assure coverage of this target which is located on Federal lands. The Company is also negotiating on further breccia pipe target opportunities andcontinues to investigate new breccia pipe targets. Matthew Idiens, Director of Corporate Development commented, "We continue to addto our strong breccia pipe portfolio that now includes 32 pipe targets,increasing the possibility of discovering substantial uranium resources." Enquiries: VANE Minerals Plc Ambrian Partners Limited Matthew Idiens Richard Brown +44 (0) 20 7667 6322 +44 (0) 20 7776 6417 Parkgreen Communications Daniel Stewart & Co Cathy Malins/Annabel Leather Katie Shelton +44 (0) 20 7851 7480 +44 (0)20 7776 6550 About VANE Minerals: Since December 2004, VANE Minerals has built a substantial uranium portfolio ofproperties in the US; initially targeting the Northern Arizona Breccia PipeDistrict which holds the highest grade deposits in the US. The Company is using the silver/gold production at the Diablito mine in Mexicoto help fund exploration work across its attractive portfolio of uranium as wellas base and precious metal prospects. VANE 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. For further information, please review: www.vaneminerals.com. This information is provided by RNS The company news service from the London Stock Exchange