Rose Petroleum plc

North Wash

The North Wash project is located on the east side of the Henry Mountains 25 miles south of the community of Hanksville. The project consists of 71 federal lode claims covering 1,466 acres. Uranium was discovered during exploration drilling by Cotter Corporation in the 1970s. VANE acquired the property and drilling data in 2005 and completed drilling campaigns in 2007 and 2008. The drilling verified the Cotter drilling data and estimated resources (non-compliant NI43-101) of approximately 150,000 lbs eU3O8 and 750,000 lbs V2O5, respectively. In addition, the results from VANE’s wide-spaced drilling of 25 holes to the southwest of this resource in 2008, which encountered ore-grade mineralization, indicate that the deposit could be at least twice the initial resource estimate. VANE drilling indicates the deposit is open to the north, south, and east