UPDATE UPDATE UPDATE..

COMPANY WEB SITE.........

http://www.vaneminerals.com/

THE PRICE OF URANIUM IS GOING BALISTIC...

The uranium spot price hasn't seen a down month since 2001. For years now, uranium producers have met just 60% of total annual demand - the other 40% coming from government stockpiles and decommissioned nuclear warheads. This can go on for only so long.

The tightness of supply comes at a time of atomic resurgence. Three large-scale factors have turned the tide in favour of nuclear energy:
geopolitics, global warming and developing world growth.

Analysts are debating over wether the SP of Uranium increase will be three fold within 2007?.

Looks like to me, the best play on the UK market for Uranium and it hasnt gotten away yet like the other two ZBA Zareba and URA Uranium which have multi bagged. Its also in a position to fund its development with a new gold mine producing. Ive added twice this morning and think this one could be very big. Heres the announcement...........

Vane Minerals PLC
07 March 2005


VANE Minerals plc (AIM: VML)

VANE Announces Diversification Into Uranium Exploration And Development

Vane Minerals ('VANE' or 'the Company') announces that it is diversifying its
current project portfolio by entering into the uranium exploration and
development business.

To date 7 uranium targets have been successfully claimed by the Company and 28
further properties have been identified and are under development. VANE expects
to finalise its property position by the end of the first quarter 2005. The
Company is targeting uranium projects that are either at, or near, resource
stage or targets that exhibit similar surface features to mines with past
production, but that have not yet been evaluated for the presence of uranium.

The 35 properties identified are located within a uranium district with
significant past production as well as significant resources. Due to the
current uranium market conditions, we prefer to not identify the location until
we complete our property position. Previous drilling data available for some of
the 7 properties successfully claimed indicate grade intersects from 0.34 up to
1.78% U3O8.

VANE has incorporated a 100% owned subsidiary to hold its uranium properties and
has also successfully recruited a uranium geologist, Kristopher K. Hefton B.Sc.,
who has considerable experience in this field and is a great addition to the
VANE team. Mr. Hefton has worked with VANE's exploration team in the past during
his time at Freeport McMoran, and he has also worked for Barrick Gold
Corporation, Homestake Mining Company and Energy Fuels Nuclear Inc.

Michael Spriggs, Chairman of VANE, commented, 'We are delighted to announce the
addition of these uranium assets to the VANE portfolio and will update the
market with more substantial details once further properties have been claimed.
The uranium market has been strong for some time now, reflecting a long-term
forecast supply shortage and the growing recognition that nuclear energy offers
a cleaner and more energy efficient fuel source. Through our extensive network,
we have identified some quality projects and look forward to releasing further
details when appropriate.'

Enquiries:

VANE Minerals plc Seymour Pierce Limited Parkgreen Communications
Matthew Idiens Sarah Wharry Justine Howarth / Cathy Malins
020 7667 6322 020 7107 8000 020 7493 3713

cheers GF.

Got into this one at 24.5. Great prospects.

Just filled up again whilst all the attention is elsewhere today.

Great buying opportunity...bought into it on weakness today.

Re Slater's comments on the great potential of Guadalcazar. The results of the first drilling programme are expected within the next six to eight weeks (Mineweb 18/03/05), so, not very long to wait.

My understanding/memory is that if results are successful the rights will then most probably be sold on to a major, since Vane would not be able to deal with this themselves (without financing). Can anyone confirm this? I just remember this from my initial research into the company but can't seem to find the info now. I think also that interests from majors had been registered.

What a great little exploration company with overlapping projects bankrolling the next set of overlapping projects.

Happy Easter, Madison

Buys way ahead of sells. Hoping for a good day here.

cheers GF.

Surprised at the lack of interest in this, considering the coming newsflow on so many different fronts! My memory was correct about Guadalcazar.

Cheers Madison

Just topped up, RNS due this week sometime. Should have a positive effect.

How do you know there is news due out this week?

From the announcement on 07/03/05:

"To date 7 uranium targets have been successfully claimed by the Company and 28
further properties have been identified and are under development. VANE expects
to finalise its property position by the end of the first quarter 20005."

I think this is confirmed elsewhere too. But there will also be news in the next few weeks from Diablito (gold), from Guadalcazar and possibly from others too.

Cheers Madison

Yes Madison, somewhere on the thread is an update from Killik Brokers which paints an even more positive picture than the annoucement.

These have been caught up in the general sell off today, but they'l come back strongly.

cheers gf.

Goldfinger what is this Killik Brokers you talk of?

Lets hope for a better day tomoz :-)

Cheers.

Hi Oracles sorry freind Ive got this one mixed up. I was re - to the mining web article. Hope I have not caused concern, cheers GF.............

From Mining Web............................

Uranium on top of gold/silver

By:
Posted: '18-MAR-05 07:00' GMT Mineweb 1997-2004



LONDON (Mineweb.com) -- VANE Minerals, an exploration and development company initially working on precious-metals properties in Mexico, is making encouraging headway in these properties, and is now also looking to diversify into uranium, the element that has been attracting so much attention recently.

VANE was incorporated in 2002 as a minerals and exploration company primarily working on defining and developing projects generated from the review of the databank that was itself developed by Freeport McMoRan Copper & Gold, as two of VANEs directors were formerly senior employees at Freeport and have negotiated exclusive access to the mineral databank that Freeport had developed over a number of years. The company is listed on AIM with a market capitalisation of 22.8 million ($43.9 million) and is developing three properties in Mexico, namely Diablito, Guadalcazar and Mina Charay.

All projects are on schedule and VANE has recently announced that full production is expected at Diablito three months ahead of schedule. Diablito is a high-grade gold-silver deposit and VANE subsidiary Minerals Vane SA de CV has signed an agreement with a Mexican mining contractor committing to working on the property by March 19. The machinery is in place and ore production is expected within three weeks of the works commencement. In addition, the development plan has been upgraded to allow production at full capacity (50tpd) more or less immediately; previously this had been planned for a three month ramp-up period.

VANE expects that at this target rate, Diablito should throw off a pre-tax profit of $3 million with a mine life of seven years, based on the current resource calculation. The vein is open at depth and an infill drilling programme is planned in order to extend the life of the resource. This enhanced programme has prompted the companys Chairman, Michael Spriggs, to state that the company is well on its way to becoming a self-funding exploration company.

VANE has also commenced drilling at Guadalcazar on March 8. This is being carried out on a bi-daily shift seven days per week. Two drill holes have already been completed and a third is underway. The company has identified eight targets as a result of geophysical and geochemical sampling and the results of the first drilling programme are expected within the next six to eight weeks, keeping the company ahead of schedule and under budget. Guadalcazar is a hydrothermal system, that had previously been thought to be alluvial and clearly therefore has higher resource potential than recognised by the earlier exploration programmes.

Initial assay results at the third property, Mina Charay, are suggesting strong mineralisation. Assays from the seven drill holes recently completed indicate a high-grade mineralised vein with some very high grades of up to 36.82g/t of gold and 706.2g/t of silver. Results to date suggest that there is bulk grade mineralisation as gold values have been obtained in shallow pits. This is early stage, but the company is following up with further geophysical sampling and intends to continue with the drilling programme and as a consequence the company has negotiated new terms with the property owner, allowing deferment of the January $75,000 option payment until July 2005. Between now and June there are $40,000 of option payments to be made and the company retains the right to withdraw from the property with no further financial obligation.

Meanwhile, VANE has also been looking at diversifying its current project portfolio by looking at uranium, a metal that has been attracting considerable interest of late, not least with the oil price seemingly headed towards $60/bbl even if OPEC manages to increase its production by one million barrels per day, something that some analysts have suggested will be a difficult target to achieve. VANE has successfully claimed seven uranium targets and has identified a further 28 properties, all in the same area.

The portfolio should be established by the end of the first quarter of this year; all seven targets are either at or near resource stage or are targets that exhibit similar surface features to miens with past production, but that have not yet been evaluated for uranium content. Intersections to date have thrown off grades of 0.34 up to 1.78% U3O8. The company has incorporated a 100% owned subsidiary to hold the uranium properties and has recruited an experienced uranium geologist on to the team. Adding a little spice to the programme, the company has said that the properties are all within a uranium district with significant past production as well as significant resources. It goes on to say that owing to prevailing conditions in the uranium market, it prefers not to identify the location until it has completed its property position. Watch this space

Nice to see a tick-up already. Let's hope for more today.

Cheers Madison

Ive just topped up with 10333 shares and its pushed the SP up a bit. Lets hope for some more buys.
wilbs

Yes some sort of recovery. Lets hope its maintained.

cheers GF.

I think next week is going to very interesting for VML, Its end of tax year so lots of people are selling and the price for VANE is holding steady while many shares have plummeted. I think VML is holding off with the RNS till after April 4th if this is true then we can expect to see a massive rise in the share price as people start to buy back into this share with a positive news flow generated about this share and an impending RNS.

Anyone got any ideas?

What makes you think VML is holding off with the RNS till after April 4th?

Cheers Madison

I dont think releasing a RNS this close to the end of the tax year is high on there priorities best to get there finance's in order and release a few days late. End of tax year is only next Monday, I hope they dont release it any earlier because I dont think it will make much of an impact on the share price. People are more concerned with selling shares to avoid capital gains tax than buy at the moment.

syd, I understand what you're saying, but if the RNS is good enough to lift the share price significantly, then it will do this at any time. As for CGT, I have seen this argument around and I doubt it, at least as far as Vane is concerned. Many will already have processed their CGT allowances and be buying again. I know I have.
I agree in some ways that it doesn't matter precisely when news comes. Let's just hope it's good.

Cheers Madison

I agree with you Madison, the CGT arguement is one that is being banded about. I am looking closed at a chart of the FTSE AIM, it gained 30% from Aug 04 to 21 March 05. It does not suprise me that since the 21st it has dropped 7%. Though is does suprise me that it has done so in just 6 trading days, I was not expecting such a rapid correction.

Good news from Vane should recover some of our losses especially if it does anything what Reefton mining did on the announcement of a Uranium discovery.

Tallsiii