ROSE.L Regulatory News (ROSE)

24 Apr 2006 07:01

Vane Minerals PLC24 April 2006 VANE Minerals Plc (AIM: VML) Freeport Agreement Extended to June 2007 VANE Minerals ("VANE" or "the Company) is pleased to announce a furtherextension of its exclusive agreement with Freeport McMoRan Copper and Gold Inc.("Freeport"). The agreement, originally signed on 1 October 2002, has again beenextended by a further 12 months to 30th June 2007. Under the terms of theagreement VANE Minerals, through its wholly owned subsidiary AVEN AssociatesLLC, has exclusive access to Freeport's global exploration database, excludingIndonesia, containing more than 7,000 files dating back to1907. The Freeport files have been preliminarily examined and several potentialprospects are currently under evaluation. The opportunities arise where targetsbecome viable by application of new metallurgy, advances in geological concepts,changes in metal prices or other technological advances. The files are also an important reference tool in evaluating opportunitiesbrought to VANE as potential targets. The database provides invaluableadditional information on local geology, prospectivity and historical workundertaken on projects located within relevant geographical regions. Enquiries: VANE Minerals Plc Ambrian Partners LimitedMatthew Idiens Richard Brown+44 (0) 20 7667 6322 +44 (0) 20 7776 6417 Parkgreen Communications Daniel Stewart & CoJustine Howarth / Cathy Malins Alex Davies+44 (0) 20 7493 3713 +44 (0)20 7776 6550 About VANE Minerals: VANE Minerals was founded by the former international exploration team ofFreeport McMoRan Copper & Gold Inc., one of the world's largest producers ofcopper and gold. The team negotiated exclusive access to Freeport McMoRan'sglobal exploration database, made up of 7,000 plus files generated over nearly100 years of exploration and, following the review of these files, VANE isideally placed to capitalise on project acquisition opportunities. The Companyhas assembled a highly qualified and experienced management team with a proventrack record in exploration and development, who have spent their entire careerssearching for and defining large scale mineral deposits. The Company's principal objective, as set out at the time of its listing in June2004, is to be a self-funding exploration company. As such, the initial focushas been to identify high grade gold-silver projects which can be brought intoproduction as quickly as possible in order to provide revenue towards fundingthe development of potentially much larger projects. VANE is well on its way toachieving this objective as production began at the Diablito mine in Mexico inNovember 2005. The Company will use the revenue generated by this firstproducing mine to help fund development work across its attractive portfolio ofgold, silver, copper and uranium assets in Mexico, Paraguay and the US. For further information, please review: www.vaneminerals.com. This information is provided by RNS The company news service from the London Stock Exchange