Rose Petroleum plc

AFX News

12-December-2006

VANE Minerals gets further drill permits; to start uranium exploration next week

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LONDON (AFX) - Mineral exploration company Vane Minerals Plc said its uranium subsidiary Vane Minerals (US) LLC has been granted further drilling permits for the Big Red Pipe and the Rabbit target in the breccia pipe district of northern Arizona.

The company also said it will start its first round of drilling next week on the Red Dike and Miller pipes, Vane Minerals added.

Vane's chairman Michael Spriggs said: 'As promised to shareholders, we have continued to accelerate the development of our uranium portfolio and we are excited that drilling is scheduled to commence on our first projects next week.'

The uranium subsidiary is continuing with the drilling permitting process on its additional breccia pipe targets which hold the highest grade deposit type in the United States.