Rose Petroleum plc

Mina Charay Drilling Update

18-July-2005

VANE Minerals Plc is pleased to announce the completion of nine holes in a third round of diamond drilling at their Mina Charay Project located near Los Mochis in the state of Sinaloa, Mexico.

A total of 27 holes varying in depth from 24 to 103 metres and averaging 58 metres have now been completed at Mina Charay. Inclined holes intersected the nearly vertical vein system in 19 of the 27 holes completed to provide 32 mineralized intercepts. Drilling has now tested the system over a strike length of some 240 metres. The mineralized intercepts averaged 1.7 metres in length and contained an average of 13 g/t gold and 93 g/t silver. The veins are believed to have an average true width of 1.2 metres. The deepest intercepts of the vein system are approximately 50 metres below surface; the system remains open at depth.

The initial assay results are tabulated below, routine check assaying is now in progress. After confirmation of analytical results, the data will be provided to Independent Mining Consultants (IMC) of Tucson to develop a resource estimate and preliminary mine plan.

Gold Silver
DDH No.FromToInterval (m)g/tg/t
1646.247.00.82.91192.0
1647.048.01.023.28157.7
1648.048.90.95.55360.0
1754.755.50.820.770219.4
1755.556.30.89.560467.9
1858.559.51.011.4242.9
1859.561.01.562.8737.7
1869.770.81.119.5109.7
1870.871.50.811.1430.9
2042.043.01.03.36168.0
2067.468.30.81.9542.9
2068.369.10.80.55133.7
2071.372.51.278.71524.5
2122.323.00.711.79238.2
2126.627.91.36.72114.8
2150.150.50.4109.04216
2150.951.60.70.2122.3
2233.334.71.445.3254.8
2236.138.01.92.2632.6
2245.045.70.70.7922.3
2312.713.71.017.4041.1
2313.714.71.015.91104.5
2424.825.91.15.14051.4
2559.560.20.77.3744.6
2560.261.00.874.25106.3

Chairman Michael Spriggs commented "These results are very encouraging and we are pleased with the whole project so far. As you can see from the grades achieved, Mina Charay offers good potential to develop a profitable mine, which should strengthen VANE's cash flow position and enable the company to expand rapidly."