Freeport Agreement Extended

Vane Holdings PLC
20 January 2005


                 VANE Minerals plc (formerly VANE Holdings plc)
                       ('VANE Minerals' or 'the Company')

                    Freeport Agreement Extended to June 2006

VANE Minerals announces a further extension of its exclusive agreement with
Freeport McMoRan Copper and Gold Company ('Freeport'). The agreement, originally
signed on 1 October 2002, has been extended by a further 12 months to 30th June
2006. Under the terms of the agreement VANE Minerals, through its wholly owned
subsidiary AVEN Associates LLC, has exclusive access to Freeport's global
exploration database, excluding Indonesia, containing more than 7,000 files
dating back to 1907.

The Company's prospective Guadalcazar Property in San Luis Potosi, Mexico, was
discovered by reviewing this exploration database, and VANE Minerals expects to
begin a drilling programme on the property by mid-February when a drill rig is
expected to become available.

To date, approximately 85% of the Freeport files have been preliminarily
examined and several exciting potential prospects are now being pursued. The
opportunities arise where targets become viable by application of new
metallurgy, advances in geological concepts, changes in metal prices or other
technological advances.

Enquiries:

VANE Minerals plc 020 7667 6322
Matthew Idiens

Seymour Pierce Limited 020 7107 8000
Jeremy Porter / Sarah Wharry

Parkgreen Communications 020 7493 3713
Justine Howarth / Cathy Malins






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