Rose Petroleum plc

Freeport Agreement Extended to June 2007


24 April 2006

VANE Minerals Plc (AIM: VML)

("VANE" or "the Company")

Freeport Agreement Extended to June 2007

VANE Minerals is pleased to announce a further extension of its exclusive agreement with Freeport McMoRan Copper and Gold Inc. ("Freeport"). The agreement, originally signed on 1 October 2002, has again been extended by a further 12 months to 30th June 2007. Under the terms of the agreement VANE Minerals, through its wholly owned subsidiary AVEN Associates LLC, has exclusive access to Freeport's global exploration database, excluding Indonesia, containing more than 7,000 files dating back to 1907.

The Freeport files have been preliminarily examined and several potential prospects are currently under evaluation. The opportunities arise where targets become viable by application of new metallurgy, advances in geological concepts, changes in metal prices or other technological advances.

The files are also an important reference tool in evaluating opportunities brought to VANE as potential targets. The database provides invaluable additional information on local geology, prospectivity and historical work undertaken on projects located within relevant geographical regions.

VANE Minerals Plc
Matthew Idiens
+44 (0) 20 7667 6322
Ambrian Partners Limited
Richard Brown
+44 (0) 20 7776 6417

Parkgreen Communications
Justine Howarth / Cathy Malins
+44 (0) 20 7493 3713
Daniel Stewart & Co
Alex Davies
+44 (0)20 7776 6550

About VANE Minerals:

VANE Minerals was founded by the former international exploration team of Freeport McMoRan Copper & Gold Inc., one of the world's largest producers of copper and gold. The team negotiated exclusive access to Freeport McMoRan's global exploration database, made up of 7,000 plus files generated over nearly 100 years of exploration and, following the review of these files, VANE is ideally placed to capitalise on project acquisition opportunities. The Company has assembled a highly qualified and experienced management team with a proven track record in exploration and development, who have spent their entire careers searching for and defining large scale mineral deposits.

The Company's principal objective, as set out at the time of its listing in June 2004, is to be a self-funding exploration company. As such, the initial focus has been to identify high grade gold-silver projects which can be brought into production as quickly as possible in order to provide revenue towards funding the development of potentially much larger projects. VANE is well on its way to achieving this objective as production began at the Diablito mine in Mexico in November 2005. The Company will use the revenue generated by this first producing mine to help fund development work across its attractive portfolio of gold, silver, copper and uranium assets in Mexico, Paraguay and the US.

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