Rose Petroleum plc

Result of EGM


Result of EGM

VANE Minerals Plc (AIM: VML)

Result of EGM

VANE announces that following its Extraordinary General Meeting ("EGM"), held at 11am today, all proposed resolutions were duly passed by shareholders.

The EGM was convened primarily to seek the necessary authorities to approve a placing of Ordinary shares of 10p each ("Shares") to raise approximately £6.25 million at a placing price of 17.5p per Share.

Application has been made for the 35,714,285 new Shares issued today to be admitted to trading on AIM. It is expected that trading in the Shares will commence on Monday 3rd December.

The net proceeds of the Placing will be primarily used to accelerate VANE's breccia pipe drilling campaign in Northern Arizona, where the Company has 39 drill targets, and to proceed with further rounds of drilling on the Company's six properties in Utah. It is envisaged that further drilling at the North Alice Extension and North Wash in Utah should enable the Company to produce a National Instrument 43-101 complaint resource statement in the early part of 2008.


VANE Minerals Plc

Matthew Idiens

+44 (0) 20 7667 6322

Ambrian Partners Limited

Richard Brown

+44 (0) 20 7776 6417

Parkgreen Communications

Laura Llewelyn / Beth Harris

+44 (0) 20 7851 7480

Westwind Partners

Paul Newman

+44 (0) 20 7290 9713