Proposed Placing

Vane Minerals PLC
02 November 2007



2 November 2007




                               VANE Minerals PLC

                           ('VANE' or the 'Company')


                                Proposed Placing



VANE Minerals PLC (AIM:VML) is pleased to announce that the Company has
provisionally allocated an issue of 28,571,428 ordinary shares ('Ordinary 
Shares') to placees with a view to raising gross proceeds of approximately 
£5 million at a placing price of 17.5p per Ordinary Share ('Proposed Placing').


Completion of the Proposed Placing remains subject to the placees who comprise
institutional investors in Canada and the United Kingdom, entering into formally
binding subscription agreements. The Proposed Placing is also conditional, inter
alia, on the approval of the Company's shareholders being granted for the issue
of the Ordinary Shares.


The net proceeds of the Proposed Placing are to be used primarily for
accelerating VANE's breccia pipe drilling campaign in northern Arizona, where
the Company has 39 drill targets, and for proceeding to further rounds of
drilling on the Company's six properties in Utah.  It is envisaged that further
drilling at the North Alice Extension and North Wash in Utah should enable the
Company to produce a Canadian National Instrument 43-101 complaint resource
statement in the early part of 2008.


As previously notified to shareholders, VANE continues to be in discussions with
a number of entities regarding potential joint venture/ acquisition
opportunities, all of which the Company is confident could add significantly to
the Company's portfolio of assets.


Westwind Partners (UK) Limited is acting as lead agent (the 'Lead Agent') for
the Proposed Placing in Canada and the United Kingdom and Ambrian Partners
Limited is acting as broker to the Proposed Placing in the United Kingdom.


Matthew Idiens, Executive Director, commented 'The Board of VANE is extremely
pleased with the interest shown in the capital raising by new investors,
especially from North America where our assets are primarily based and we are
looking forward to accelerating drilling with the intention of producing a
resource statement early next year'.


It is expected that the necessary Extraordinary General Meeting (the 'EGM') will
be convened and that the Placing will be completed on or before 30 November 2007
(or such later date as the Company and the Lead Agent may agree being not later
than 31 December 2007).  A circular to the Company's shareholders convening the
EGM will be despatched shortly.



Enquiries:


VANE Minerals PLC         Westwind Partners (UK)     Ambrian Partners Limited  Parkgreen Communications
                          Limited
Matthew Idiens            Paul Newman                Richard Brown             Laura Llewelyn/Beth Harris
[phone]       [phone]        [phone]       [phone]



For further information, please review: www.vaneminerals.com.



About VANE Minerals:


VANE was founded by the former international exploration team of
Freeport-McMoRan Copper & Gold Inc., one of the world's largest producers of
copper and gold. The Company has assembled a highly qualified and experienced
management team with a proven track record in exploration and development, who
have spent their entire careers searching for and defining large scale mineral
deposits.


The Company is using the silver/gold production at the Diablito mine in Mexico
to help fund exploration work across its attractive portfolio.


Since December 2004, VANE has built up a substantial uranium portfolio of
properties in the Colorado Plateau region, initially targeting the Arizona strip
which holds the highest grade deposits in the US, contained in breccia pipes.



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