Rose Petroleum plc



Vane Minerals Plc ("VANE" or "the Company") is pleased to announce that, following an approach for additional shares by Geiger Counter Ltd, a specialist uranium investment vehicle, it has raised £145,500 net of expenses by way of a private placing ("the Placing") of one million new ordinary shares of £0.10p each at a price of 15p, placed with Geiger Counter Ltd. The new ordinary shares will represent 0.7% of the enlarged issued share capital of the Company. Application will be made for the New Ordinary Shares to be admitted to AIM and dealings in the new ordinary shares are expected to commence on 13th February 2007.

The funds raised will be used to further accelerate the exploration and development programme for the Company's portfolio of uranium properties in the US. As previously reported, drilling is currently underway at the Miller breccia pipe target in Northern Arizona. Further drilling is planned for the Big Red, Red Dike and Rabbit pipe targets which are currently permitted. Additional permits are pending on further breccia pipe targets.

Matthew Idiens, Director of Corporate Development, commented, "We are delighted that Geiger Counter, the world's first specialist uranium investment vehicle, has continued to show its support for VANE and the Company is pleased to be able to assist Geiger Counter in increasing its exposure by way of this small placing. The commencement of drilling at our uranium targets is a major milestone in the development of the Company. Our hope is that, if the results of this year's drilling programme are positive, they will be reflected in a re-rating of our shares."