Rose Petroleum plc

Results of Latest Drilling Programmes


VANE Minerals Plc ("VANE") is pleased to announce the successful completion of the first round of exploration drilling at the Guadalcazar project in the state of San Luis Potosi, Mexico as well as completion of second-stage drilling at Mina Charay in the state of Sinaloa, Mexico.


Approximately 1,067 metres of HQ core were obtained from 12 drill holes located on a spacing of approximately 500 metres. Anomalous values of gold and silver were detected in every hole drilled. Initial assays indicate gold and silver values as high as 0.5 g/t and 38 g/t respectively. Bedrock limestone was found to be hydrothermally altered (marbleised) in several holes located in the western part of the district.

A programme of check assaying is now underway to confirm analytical results. The drill core samples will also be analyzed for tin and mercury as this information, along with the marbleised zones will aid in directing future drilling toward more strongly mineralized centre(s) that will be the object of a second round of drilling. This is planned for later this summer.

Mina Charay:

A second round of diamond drilling has now been completed at Mina Charay consisting of 12 holes and bringing the total number of holes completed to 19. Nine of these holes intersected mineralized veins with a weighted average gold grade of 12.41 g/t and weighted average silver grade of 112.42 g/t over an average core length of 2.2 m corresponding to a true vein thickness of approximately 2 m. The nine holes are all located within a zone 200 metres long which trends N70E. The holes in question are all parallel, bearing S20E, and inclined at -45 to -60 degrees to the south. Holes are spaced 25 to 50 metres apart along the 200-metre length of the vein system. Mineralization remains open at depth and possibly to the west.

The mineralized intersections for Mina Charay are summarized below:

Initial Drilling Campaign
DDH#Interval (m)Core Length(m)Au g/t Ag g/t

Second (Current) Drilling Campaign
DDH#Interval (m)Core Length(m)Au g/t Ag g/t

Based on the high-grade nature of the mineralization, the relatively shallow depth and continuity along the 200-metre strike length of the vein system, VANE intends to initiate a third drilling campaign in order to define a resource and assist in the development plan.

Michael Spriggs, Chairman of VANE, comments, ?The results at Guadalcazar corroborate our belief in the widespread nature of the gold and silver mineralisation across this potentially major project, as well as confirming that the deposit is indeed hydrothermal. We will now concentrate our efforts on identifying higher grade areas of mineralisation through the second round of drilling. We are also very encouraged with the progress being made at Mina Charay and will continue to move this forward as quickly as possible.?