Rose Petroleum plc

Happy Jack Mine

The Happy Jack Mine is located along the west side of highway 95 about mid-way between Hanksville and Blanding. The property holding consists of 29 federal lode claims (580 acres) and a lease on 95 acres of private land. The mine has historic production of 3.1M lbs of U3O8.

The preliminary results based on 49 historic drill holes having significant mineralized intercepts indicate resources of 160,000 lbs eU3O8 (20,000 lbs eU3O8 proven and 140,000 lbs eU3O8 inferred, non-NI 43-101 compliant) located in 9 separate areas.

VANE completed 36 rotary drill holes during 2007 and 2008. All holes encountered uranium mineralization, 14 of which encountered mineralization in sufficient quantity to use in resource calculations. The project is in being maintained on a care and maintenance basis while the potential for small-scale production is being assessed.