Rose Petroleum plc



VANE Minerals to form joint venture with Uranium One Exploration

VANE Minerals (US) LLC, a wholly-owned uranium subsidiary of Vane Minerals plc, has signed a definitive joint venture agreement with Uranium One Exploration U.S.A., Inc., a US-based mining and exploration company.

The joint venture covers property holdings in the breccia pipe district of northern Arizona. Under the terms of the agreement, expenditures will be shared according to the on-going interest in the project and targets, commencing at 50% each. VANE will be operator of the projects at the exploration stage and Uranium One will be operator of the projects at the development, mining, and milling stages.

Deal Type Partnership
Sub-Category Joint Venture
Deal Status Announced: 2008-09-05

Deal Participants
Partner 1 (Company) VANE Minerals (US) LLC
Partner 2 (Company) Uranium One Exploration U.S.A., Inc.

Deal Rationale

The joint venture would increase the scale of the overall portfolio of VANE Minerals.