Rose Petroleum plc

Drilling program commencement, Yuma King copper porphyry targets, USA

4-April-2011

Drilling program commencement, Yuma King copper porphyry targets, USA

VANE Minerals plc is pleased to announce that its 100% wholly owned subsidiary, AVEN Associates LLC, has commenced, ahead of schedule, the drilling program at its Yuma King Project, La Paz County, Arizona.

Highlights

  • Two-hole diamond drill program underway
    • Vertical hole to offset favorable geology and geochemistry
      • estimated drill depth of 1,000 - 1,500 feet (300 - 450m)
    • Second vertical hole to test a geophysical anomaly
      • estimated drill depth of 500 feet (150m)

VANE is pleased to announce that, based on the results of the Company's geologic/geochemical/geophysical investigations, two porphyry copper drill targets have so far been defined. A two-hole diamond drill program is now underway. The first hole will offset favourable geology and geochemistry encountered in historic drilling. This will be a vertical hole with an estimated drill depth of 1,000 - 1,500 feet (300 - 450m).

The second hole will test a geophysical anomaly that coincides with a geologic target based on a geologic interpretation of the District's complex, low-angle thrust faulting history. This vertical hole has an estimated depth of 500 feet (150m). Continued exploration and the location of subsequent holes will be result driven.

The Company intends to identify and delineate new porphyry copper systems across the southwestern copper belt of the United States, an area which accounts for some 60% of the U.S.A. annual copper production. In addition to the drilling program underway, exploration drilling permits are also being secured at three other prospective projects held by VANE in its copper exploration portfolio. The Yuma King drilling program has been formulated following a review of historic exploration work as well as geologic field work carried out by VANE. Previous drilling by the Big Bar Resources, Inc. exploration group intersected disseminated copper and molybdenum mineralization of the sort associated almost exclusively with porphyry copper systems in the Southwestern Porphyry Province.

Director of Geology, Clark Arnold, commented: "The commencement of drilling at the Yuma King prospect, located in the world class copper region of southwestern United States, is excellent news for our shareholders. This is the first of a number of exploration drilling campaigns to be carried out during 2011 designed to achieve our objective of identifying an economic porphyry copper deposit. We look forward to announcing news of the results of this drilling program and future drilling programs in due course."