Acquisition - Copper Prospect

Vane Minerals PLC 21 July 2005 VANE Minerals plc (AIM: VML) Acquisition of the Choix Copper Prospect VANE Minerals PLC ('VANE' or 'the Company') today announces the acquisition by its wholly owned subsidiary, Minerales VANE SA de CV, of the Choix copper prospect located near the town of Choix in the northern part of the State of Sinaloa, Mexico. The Choix prospect is 100% owned by Minerales VANE SA de CV, with only a finder's fee obligation of US$250,000 payable over the next three years. The Choix prospect comprises 354 hectares and is an undrilled copper target located at the southern end of the prolific Arizona-Mexico porphyry copper belt. Eighty surface samples have been collected over an area measuring 600 metres by 500 metres and assayed for copper, gold, silver, lead and zinc. Copper values over 1.0% were obtained in 25 samples, while values between 0.5% and 1.0% copper were found in an additional 17 samples. Copper minerals observed were primary chalcocite, digenite and bornite which are partly oxidized to chrysocolla, tenorite and malachite. Gold values range up to 0.2 ppm while lead and zinc values are generally low, less than 0.2% and 0.5% respectively. Copper sulphide mineralisation and their oxidation products occur as veinlets and breccias in intrusive granite porphyry outcrops which are surrounded by significant areas of thin colluvial cover. The terms of the finder's fee are set out below: $10,000 on the 1st January 2006 $15,000 on the 1st July 2006 $20,000 on the 1st January 2007 $30,000 on the 1st July 2007 $40,000 on the 1st January 2008 $135,000 on the 1st July 2008 VANE has the right to terminate the deal at any time without financial penalty or further obligations. Michael Spriggs, Chairman of VANE, commented, 'We are very pleased to have discovered this promising project. Despite the abundant and widespread nature of the outcrops of unusually high grade rock and the proximity of almost all important infrastructure there are no signs of any previous drilling or systematic sampling anywhere on the property. A mapping, sampling, geophysical and drilling program is being developed for this readily accessible copper target.' 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 This information is provided by RNS The company news service from the London Stock Exchange
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