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.

Click on a user name Starfrog (try mine if you want) and you will see that you can receive a private message. You just have to enable it, that's all.

Cheers, Madison

I would very much appreciate an update on the AGM as well. I have been waiting for news with baited breath. Pleeeeeeease

Baza

tallsiii says he will be increasing his holding. That's good enough for me, to start with - off to look for some cash!!

Madison

Cheers Madison. You learn something new every day here. LOL

Ok here is the update:

They are expecting to post an announcement about Mina Chiray in the near future. This mine should add to the cash flow that is coming in from Diablito.

They are currently deciding how to process the ore from Diabilto. They expect recieve the cash from the Diablito output in about 6 weeks after the decision is made.

They are unable to say anything about the cost or timescales of the Uranium projects, but they pointed out that when they started looking Uranium was at $20 and is now at $29.

They expect both Gualdazar and the Uranium mines to be sold on, but only if they can get a good price.

Tallsiii

That's nothing. Starfrog's teaching nuclear physics if you read the right thread!! LOL

....and I've got to find supplies somewhere. LOL

Thanks tallsiii. Excellent service. (Sorry about overlapping post.)

Very good news.

Cheers, Madison

Yes thank you tallsiii, just wish I had some more funds to invest in this company but it looks like it will have to wait till end of the month until I get paid. Just hope it doesnt rocket between now and then.

Tallsiii,

Cheers for the update, good of you to post your comments.

Daws

Thanks Tallsiii,
wilbs

Also, Diabilto is currently producing flat out. And they do not expect to do any further fund raising unless they get hold of something really big and they need more money to expoit it.

cheers sir. will be in touch tomorrow.

Tallsiii, Really appreciate your update, and attending the AGM, thank you for your comments. Regards Paul.

thanks tallsiii appreciate you sharing the info

tallsiii - man of the hour!

Much appreciated Talsiii - thanks for being our eyes and ears at the AGM

Baza

All,

If Vane were to sell on the Uranium mines, would this be the right strategy? The Uranium deal looks so good, prices have been rising ever since we bought the property and we have a processing mill close by (White Mesa Mill located in Blanding).

Not to sure about Gualdazar, because we've not had much info about this, though the potential is there.

Like the idea of Mina Chiray coming on line quickly which will give us some revenues and two producing mines.

Was their any news on the gold and copper targets identified in Paraguay?

daws

daws,

I reckon selling on THESE uranium sites is exactly the right strategy. It keeps Vane focused on its exploration strengths and on building a solid base. Part of that is becoming a company with cash flow - and not taking too long about it. I see what you're saying about the attractiveness of Vane mining it themselves, but it might take some time. Meanwhile a lot can happen.

So many exploration companies have aimed high, taken a long time (years) to achieve their aims and in the interim circumstances change. Meanwhile shareprices can move sideways.

One of Vane's strengths seems to be in layering and dovetailing its activities, with one supporting another. They do really have blue skies ahead, but for the time being let's get some cash in and get this sp motoring on up. So, Mina Charay sounds to be just the thing right now! Incidentally, I was delighted to hear that Diablito is now going "flat out".

The Freeport database is still at the heart of the Vane project, and we don't know what else may be waiting for exploration. What's so impressive in this company is the delivery - always (more or less) on time, and usually at or exceeding expectations. So, we can probably anticipate a bright cashflow for Mina Charay.

It may yet be a few weeks, or even a couple of months, away but once that cash starts coming in, then the investor base should broaden.

Well daws, just my opinion. Be interesting to see others' thoughts too.

Cheers, Madison

tallsiii, many thanks for your hard work and devotion.

cheers GF.