Uranium Update

Vane Minerals PLC
03 August 2006


                          VANE Minerals Plc (AIM: VML)

                            Update on Uranium Assets


       Acquisition of New Uranium Prospects & Receipt of Drilling Permits


VANE Minerals Plc ('VANE') today announces that its uranium subsidiary VANE
Minerals (US) LLC ('VANE (US))' or 'the Company') has successfully acquired
exploration rights for an additional three breccia pipe prospects, Cholla, NCP-7
and CP-14, all located on Federal lands in northern Arizona.  These new
acquisitions bring the total number of breccia pipe prospects in VANE's
portfolio to 22, with the total number of uranium projects in the Colorado
Plateau Uranium District now standing at 25. These 25 projects consist of 131
Federal mining claims and 5 State permits.

The breccia pipe district in northern Arizona is a relatively new district which
produced approximately 23 million pounds of uranium oxide (U3O8) prior to the
decline of uranium prices in the 1980's. Individual economic mineralised breccia
pipes generally contain between 1 million and 6 million lbs U3O8 (based on
historical data reported by Energy Fuels Nuclear, Inc).

VANE plans to undertake a drilling programme to define the value of the breccia
pipes in its suite of uranium properties and prioritise their development.  The
Company has now received approval on drilling permit applications for its Miller
and Red Dike breccia pipes, two of the previously reported properties acquired
by VANE that are located on Arizona State lands, and plans to conduct deep drill
testing on these pipes.  Drilling permit applications have been submitted on 9
additional pipe targets located on Federal lands in Arizona.

VANE (US) has also received approval to drill at the North Wash Project located
in Utah.  As previously reported on the acquisition of the project in November
2005, this project contains an inferred resource of 150,000 pounds of U3O8 based
on data from holes drilled between 1977 and 1979 by Cotter Corporation.  Assay
data also from Cotter Corporation indicated high vanadium to uranium ratios and
reported vanadium oxide grades ranging from 1.5% to 15.2%. Drilling is expected
to further define the vanadium oxide grades. This programme is planned to
coincide with drilling at the Happy Jack Project, also located in Utah, where a
review of previous exploration work has identified nine targets. VANE (US)
geologists have conducted an internal conceptual study of these properties which
determined that each property could have the potential to produce up to one
million pounds of uranium oxide.

Moving forward, VANE plans to continue permitting for drilling on all its
uranium properties. The Company continues with its programme of property
acquisitions and is in various stages of negotiation on several projects.

Michael Spriggs, Chairman of VANE commented, 'We are pleased with the further
growth of our uranium portfolio.  As a result, we now have a substantial asset
base and are very well placed to capitalise on the increasing interest in the
uranium and nuclear markets. We have built up a strong land position in a key
uranium district, within a stable geopolitical environment, and are now looking
at various options which will enable us to accelerate the development of our
uranium assets.'

Kristopher K. Hefton, Chief Operating Officer VANE Minerals (US) LLC, BSc
Geology, who meets the criteria of a qualified person under the AIM rule
guidance for mining, oil and gas companies, has reviewed and approved the
technical information contained within this announcement.


About VANE Minerals:

VANE Minerals 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 team negotiated exclusive access to Freeport-McMoRan's
global exploration database, made up of 7,000 plus files generated over nearly
100 years of exploration and, following the review of these files, VANE is
ideally placed to capitalise on project acquisition opportunities.  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's principal objective, as set out at the time of its listing in June
2004, is to be a self-funding exploration company.  As such, the initial focus
has been to identify high grade gold-silver projects which can be brought into
production as quickly as possible in order to provide revenue towards funding
the discovery of potentially much larger projects.  VANE is well on its way to
achieving this objective as production began at the Diablito silver-gold mine in
Mexico in November 2005.  The Company is using the revenue generated by this
producing mine to help fund exploration work across its attractive portfolio of
gold, silver, copper and uranium assets in Mexico, Paraguay and the US.

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


Enquiries:

VANE Minerals Plc                               Ambrian Partners Limited
Matthew Idiens                                  Richard Brown
[phone]                            [phone]

Parkgreen Communications                        Daniel Stewart & Co
Cathy Malins / Annabel Leather                  Dan Willmott
[phone]                            [phone]






                      This information is provided by RNS
            The company news service from the London Stock Exchange