Rose Petroleum plc

AFX News

4-December-2006

VANE Minerals to advanced acquisition talks on projects in Arizona, Utah

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AFX UK Focus (12-04-2006)

LONDON (AFX) - Mineral exploration company VANE Minerals PLC said its wholly owned uranium subsidiary, VANE Minerals (US) LLC, continues to identify acquisition opportunities and is in the advanced stages of negotiations on projects in Arizona and Utah.

In a statement, the company said VANE (US) has received approval to drill 25 step-out and exploration holes on the Happy Jack Mine in the second quarter of next year.

The company has successfully staked a further 18 unpatented US lode mining claims in four blocks covering seven separate targets in the breccia pipe district of northern Arizona.

This brings the total number of breccia pipe targets in the VANE portfolio to 29, it said.

'We are keen to commence drilling as soon as possible to confirm the potential of these properties,' said VANE chairman Michael Spriggs.