Drilling Report

Vane Minerals PLC
26 May 2005


                          VANE Minerals plc (AIM: VML)

                      Results of Latest Drilling Programmes

VANE Minerals Plc ('VANE') is pleased to announce the successful completion of
the first round of exploration drilling at the Guadalcazar project in the state
of San Luis Potosi, Mexico as well as completion of second-stage drilling at
Mina Charay in the state of Sinaloa, Mexico.

Guadalcazar:

Approximately 1,067 metres of HQ core were obtained from 12 drill holes located
on a spacing of approximately 500 metres. Anomalous values of gold and silver
were detected in every hole drilled. Initial assays indicate gold and silver
values as high as 0.5 g/t and 38 g/t respectively. Bedrock limestone was found
to be hydrothermally altered (marbleised) in several holes located in the
western part of the district.

A programme of check assaying is now underway to confirm analytical results. The
drill core samples will also be analyzed for tin and mercury as this
information, along with the marbleised zones will aid in directing future
drilling toward more strongly mineralized centre(s) that will be the object of a
second round of drilling. This is planned for later this summer.

Mina Charay:

A second round of diamond drilling has now been completed at Mina Charay
consisting of 12 holes and bringing the total number of holes completed to 19.
Nine of these holes intersected mineralized veins with a weighted average gold
grade of 12.41 g/t and weighted average silver grade of 112.42 g/t over an
average core length of 2.2 m corresponding to a true vein thickness of
approximately 2 m. The nine holes are all located within a zone 200 metres long
which trends N70E. The holes in question are all parallel, bearing S20E, and
inclined at -45 to -60 degrees to the south. Holes are spaced 25 to 50 metres
apart along the 200-metre length of the vein system. Mineralization remains open
at depth and possibly to the west.

The mineralized intersections for Mina Charay are summarized below:

Initial Drilling Campaign

DDH#     Interval(m)     Core length (m) Au g/t   Ag g/t

1        17.7 - 18.3     0.6             5.59     185.1
1A       25.6 - 28.5     2.9             24.94    290.1
2        26.0 - 27.4     1.4             10.10    30.9
3        51.3 - 53.5     2.2             1.93     29.4
4        30.2 - 34.0     3.8             6.09     63.4

Second (Current) Drilling Campaign

7        31.4 - 35.2     3.8             7.06     99.3
8        54.9 - 57.9     3.0             20.34    70.4
14       25.6 - 25.9     0.3             11.86    24.0
15       39.9 - 42.0     2.2             19.45    172.7

Based on the high-grade nature of the mineralization, the relatively shallow
depth and continuity along the 200-metre strike length of the vein system, VANE
intends to initiate a third drilling campaign in order to define a resource and
assist in the development plan.

Michael Spriggs, Chairman of VANE, comments, 'The results at Guadalcazar
corroborate our belief in the widespread nature of the gold and silver
mineralisation across this potentially major project, as well as confirming that
the deposit is indeed hydrothermal. We will now concentrate our efforts on
identifying higher grade areas of mineralisation through the second round of
drilling. We are also very encouraged with the progress being made at Mina
Charay and will continue to move this forward as quickly as possible.'

Background:

Guadalcazar is a large newly recognised hydrothermal system, previously thought
to be alluvial until recently defined by the VANE team. The project is directly
from the Freeport-McMoRan Copper and Gold Co. Exploration Database that is
available exclusively to the Company and therefore is subject to the agreement
the Company has with Freeport-McMoRan (details of which can be found at the
company's website www.vaneminerals.com). The exploration licence covers an area
of over 20km(2). Within this large area, through geochemical and geophysical
sampling, the Company has identified drilling targets which the Company believes
may lead to a large gold deposit.

VANE entered into an option agreement to acquire Mina Charay in September 2004.
The Company believes the prospect could be fast tracked into production and may
therefore offer the potential for generating rapid cash flow. This is in line
with VANE's strategy when it acquired the high grade Diablito gold / silver
property ('Diablito') in the state of Nayarit, Mexico. If successful, cash flow
from production at Diablito and/or Mina Charay will enable the Company to expand
its exploration programme and will allow further expansion of its asset
portfolio without over-extending its resources.

Enquiries:

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


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