Rose Petroleum plc

Vane announces extension of Freeport Agreement


VANE Minerals plc (formerly VANE Holdings plc)

(?VANE Minerals? or ?the Company?)

Freeport Agreement Extended to June 2006

VANE Minerals announces a further extension of its exclusive agreement with Freeport McMoRan Copper and Gold Company (?Freeport?). The agreement, originally signed on 1 October 2002, has been extended by a further 12 months to 30th June 2006. Under the terms of the agreement VANE Minerals, through its wholly owned subsidiary AVEN Associates LLC, has exclusive access to Freeport?s global exploration database, excluding Indonesia, containing more than 7,000 files dating back to1907.

The Company?s prospective Guadalcazar Property in San Luis Potosi, Mexico, was discovered by reviewing this exploration database, and VANE Minerals expects to begin a drilling programme on the property by mid-February when a drill rig is expected to become available.

To date, approximately 85% of the Freeport files have been preliminarily examined and several exciting potential prospects are now being pursued. The opportunities arise where targets become viable by application of new metallurgy, advances in geological concepts, changes in metal prices or other technological advances.


VANE Minerals plc 020 7667 6322, Matthew Idiens

Seymour Pierce Limited 020 7107 8000, Jeremy Porter / Sarah Wharry

Parkgreen Communications 020 7493 3713, Justine Howarth / Cathy Malins