Rose Petroleum plc

Aquisition of North La Sal Property, Utah


Aquisition of North La Sal Property, Utah

VANE Minerals Plc is pleased to announce that its wholly-owned uranium subsidiary, VANE Minerals (US) LLC ("VANE (US)" or "the Company"), has acquired a 100% interest in the North La Sal Property, a 320 acre exploration lease on State land located on the prolific La Sal channel in southeastern Utah.

The La Sal channel is located in the Salt Wash Member of the Morrison Formation which is the main formation for uranium / vanadium production on the Colorado Plateau. According to U.S. Department of Energy records, production from the La Sal channel up to 1981 was 6.4 million pounds of uranium oxide (U3O8) and 28.8 million pounds of vanadium oxide (V2O5). Recent announcements from other companies working in the area have reported the start-up of mines on reserves in the La Sal channel. Some of these reserves are located in the Hecla Mine that is adjacent to the Company's lease.

Matthew Idiens, Director of Corporate Development, commented, "We are delighted to have acquired the North La Sal property, and given the area's historic production we believe that it has excellent exploration potential for both uranium and vanadium oxides. This represents a valuable addition to our existing uranium portfolio and we will look to realise the value of this asset as quickly as possible."


VANE Minerals Plc
Matthew Idiens
+44 (0) 20 7667 6322

Ambrian Partners Limited
Richard Brown
+44 (0) 20 7776 6417

Parkgreen Communications Cathy Malins/Annabel Leather +44 (0) 20 7851 7480

About VANE Minerals:

Since December 2004, VANE Minerals has built a substantial uranium portfolio of properties in the US; initially targeting the Northern Arizona Breccia Pipe District which holds the highest grade deposits in the US.

The Company is using the silver/gold production at the Diablito mine in Mexico to help fund exploration work across its attractive portfolio of uranium as well as base and precious metal prospects.

VANE 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 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.

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